Economic and Financial Crimes Commission, EFCC, The
Department of State Security Service, DSS, the Independent Corrupt
Practices Commission, ICPC, the Ministry of Justice and other agencies set
up to probe the Petroleum Ministry and the Nigeria National Petroleum
Corporation, NNPC, have all concluded reports and findings and forwarded
to the Presidency.
One of the sources privy to the investigations, but pleaded anonymity told
Pointblanknews.com that the President is bent on commencing the trial in
earnest because of his belief that a large chunk of the monies stolen by
companies and individuals, who operated in the oil sector, would be
It was gathered that findings from investigators indicated that a sum of
$4.5Billion which was supposed to have been deposited into the Federation
Account by Jide Omokore and Kola Aluko’s Atlantic Energy have been traced
to foreign accounts. The accounts, according to investigators are in LGT
Bank, Switzerland with account number 2006431.
Investigators also disclosed to Pointblanknews.com that funds were also
found in the name of Atlantic Holding Ltd in LGT Bank with Account number
2005108 and Atlantic Energy DMCC Ltd with account number 2006822 in LGT
Omokore and Aluko, according to investigators are one of Diezani’s front.
The are alleged to have carried out the fraud in the oil sector under the
cover of the former Petroleum Minister.
A source hinted that while investigators were unearthing damning
documents, Omokore, on the advice of Diezani, offered to pay $500million
back to the Federations account but a visibly angry President Mohammadu
Buhari was said to have rejected the offer, insisting the refund of the
Investigators discovered that in 2013, Atlantic Energy lifted about
2million barrels of crude oil with cash value of $240million, but paid
$68million only. In 2014, investigators also discovered that Atlantic
Energy lifted about 500,000 barrels of crude oil at a cash value of $54
million but paid nothing to the federation account.
Chief among those slated for prosecution in the next two weeks are those
indicted in the fraud associated with the petroleum subsidy where Billions
were allegedly stolen by marketers and those invovled in series of fraud
in the Petroleum sector, a source privy to the investigation told
Others slated to face trial for varying degrees of fraud and money
laundering are: Transfigura which is unable to account for $80million,
Ontario Oil which defrauded the oil sector of $135million, Aiteo
$150million, Sahara Energy $120million.
Those linked to the companies are: Tonye Cole, Tope Osinubi, Ade Odunsi,
Tunde Ayeni, Walter Wagbatsoma, Benny Peters
Pointblanknews.com gathered that some serving and former officials of the
Nigeria National Petroleum Corporation, NNPC, were linked to several
fraudulent activities carried out in the oil sector and as such will be
prosecuted also in two weeks.
The source gave the names of those former NNPC top guns as: former GMD
Austen Oniwon, Reginald Stanley, Haruna Momoh and Sam Okeke, a former
Group General Manager, New Business Division of the NNPC.
Others officials of the Petroleum sector for trial are: Managing Director
of NPDC, Mr. Tony Moemeke, Executive Director, Commercial, PPMC, Mr. Frank
Amejo; Group General Manager, Crude Oil Marketing Division, Mr. Gbenga
Komolafe; Former Managing Director of NPDC, and later NNPC Group Executive
Director, E & P, Mr. Abiye Membere.
The source alleged that the former NNPC officials and Oil Marketers helped
or connived with former Petroleum Minister, Diezani Madueke to defraud the
nation of over $50Billion.
Transfigura was reportedly unable to account for $80 million, while Aiteo
apparently gulped down $150 million. Other oil firms named in the
defrauding of the Nigerian people are Ontario, which failed to account for
$135 million, and Sahara Energy, accused of skipping the payment of $120
million to the government.
Aiteo, owned by Peters and Ontario who were curiously awareded several oil
contracts allegedly gave investigators several forged documents and cooked
up records. An investigator also disclosed that the two companies are most
directly linked to Mrs. Alison-Madueke.
A Swiss non-governmental organization, the Berne Declaration had revealed
how Nigerian oil marketing companies perpetrated widespread subsidy fraud
running into several billions of dollars.
Titled “Swiss Traders’ Opaque Deals in Nigeria,” the Berne Declaration
also accused the NNPC of colluding with international oil traders to
The Swiss report revealed that Sahara Energy, Rahamaniyya Group, Aiteo
Energy Resources Limited, Ontario Oil and Gas Limited, Tridax Energy,
Mezcor Limited and MRS Group had established subsidiaries, also called
letter-box companies, in Geneva, Switzerland
The Aig-Imoukhuede committee had recommended that all the indicted
marketers refund N382 billion to government.
Mr. Imoukhuede had however advised Nigerians not to expect that all the
money would be recovered.
The former minister was arrested in London, UK, on Friday by the newly formed International Corruption Unit of the country’s National Crimes Agency.
The agency announced on its website on Friday that it had arrested five people “across London” as part of an investigation into suspected bribery and money laundering offences but stopped short of naming the suspects.
TheCable understands that the operations are being coordinated with several international agencies because of the “sensitive” nature of the investigation.
EFCC made “significant recovery” of documents at the Abuja of the former minister, TheCable was informed by a senior security source.
“The raid on her Asokoro residence today (Friday) yielded vital information that will help in the prosecution of the case,” the source said.
“Many agencies across several countries are involved in this investigation. Anti-money laundering agencies in Austria, France, Switzerland, Nigeria and UK are working together on it.”
Presidency sources told TheCable that the involvement of foreign agencies was critical to the success of the anti-corruption campaign of President Muhammadu Buhari.
“The Nigerian judiciary still has a long way to go in dealing with cases of corruption. Many suspects are hoping that they will capitalise on the weak nature of the country’s judiciary to frustrate the anti-corruption war,” one of the sources said.
“Unfortunately, they didn’t reckon with the fact that they can also be prosecuted in other countries where they may have laundered the looted funds.
“The former governor of Delta state (James Ibori) could not be tried successfully in Nigeria but he was prosecuted and jailed in the UK mainly on the evidence provided by Nigeria. This is a warning signal to those who think they can get away by manipulating the Nigerian judiciary.”
TheCable was also informed that the Central Bank of Nigeria (CBN) and the Department of State Services (DSS) played a major role in tracing some of the funds that were allegedly laundered by the last administration.
Sanusi Lamido Sanusi, as he was known when he was CBN governor, had raised the alarm that $20 billion was not properly accounted for by the Nigerian National Petroleum Corporation (NNPC).
Two leading Nigerian banks were said to have been used to launder most of the funds abroad.
Culled from pointblanknews.com and Thecableng
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