The Economic and Financial Crimes Commission, EFCC, has frozen over N8, 627,458,773.36 billion in three accounts of an associate and close friend of former first lady, Mrs Patience Jonathan, Hajiya Muinat Bola Shagaya.
According to The Nation report, Shagaya’s relationship with about 10 firms/account names are also being investigated by the EFCC.
The Kwara-born billionaire is however fighting back as the report says she has dragged one of her banks to the High Court of Lagos state for allowing the EFCC to Post No Debit (PND) on her accounts without a valid court order.
She says the action taken on her accounts violates Section34 (1) of the EFCC Act, 2004. Shagaya has since filed a court case via her counsel, Napoleon Emeaso-Nwachukwu and hearing of the matter is slated for Thursday, September 28.
However, the bank says its hands are tied by the law in complying with the EFCC’s directives to freeze Shagaya’s accounts.
The EFCC in a letter to the bank’s managing director in respect of one of the frozen accounts said: “The commission is investigating a case in which the above-mentioned account featured.
“In view of the above, you are requested to kindly check the table below and provide us with Certified True Copies (CTC) of the following information, which should include but not limited to the following:
(i) The deposit slips/telex copies (front and back) that conveyed the authority of the transactions;
(ii) Any investment made with the funds in any of your products which should include fixed/term deposit and their liquidation and the interest incurred, Banks Acceptance, Commercial Papers and any other relevant information in relation to these.
The EFCC listed the transactions in the said account as “N300m(Bola Shagaya RTGS); N300m (Additional N300FTD at 15% TRAN); N500m (Time Deposit); N2,317,013,698.64 (BNG COLLAOS FOR FTD-CUSTOMER ACCOL); N2.3billion (Opening a Time Deposit Account); N292, 495, 029.82 (Withdrawal from Time Deposit); N292, 495, 029.82 (TAK Asset Mgt Limited); N300m (Term Loan booked for 356 days); and N2,025,455,015.08 (BNG COLLAPS OF FTD Customer Account.”
In a separate letter Cr: 3000/EFCC/LS/STF/ STF3MP/ Vol.11/182 which Shagaya made available to the court, the EFCC asked the bank to Post No Debit(PND) on 10 accounts linked with her.
The account names are
(i) First Deep Water Discovery Limited;
(ii) Bola Shagaya;
(iii) FAPLiNs Nigeria Limited
(iv) Lingo Nigeria Limited;
(v) Buri Barclays BDC;
(vi) Links Global Synergy Ltd;
(vii) OKIOIL Nig. Ltd;
(vii) JEMARVIZ Nig Ltd;
(ix) PJ Oil and Gas Ltd; and
(x) AFDIN Ventures Ltd.
The anti-graft commission said: “The commission is investigating a case in which the above mentioned accounts featured.
“You are requested to kindly place the account on Post No Debit (PND) category pending the conclusion of the investigation.
“This request is made pursuant to Section 38(1) and (2) of the Economic and Financial Crimes Commission (Establishment) Act, 2004 and Section 21 of Money Laundering (Prohibition) Act, 2011.”
In the third letter, the EFCC said it was looking into two other accounts including Voyage Oil and Gas and Bola Shagaya from 2008 to date.
But Shagaya accused the bank of complicity on her travails following the bank’s alleged failure to exercise the requisite due diligence.
She said the freezing of her accounts did not comply with Section 34(1) of the EFCC Act, 2004.
She specifically referred to the bank’s refusal to allow her to make transactions on Account 000326118 including payment of N514, 800,000 to Global Apex Air Limited, through Heavywind Integrated Services, for the lease of a bombardier Jet.
She said she had lost a lot of business goodwill since her accounts were frozen including
1. The loss of $1,000,000 deposited with Global Apex Air Ltd. Due to her in ability to pay accrued costs in line with Aircraft Lease Agreement which was occasioned by the failure of the Defendant to oblige the Claimant’s payment instruction to Heavywind Integrated Services.
2. Loss of business opportunities and goodwill occasioned by her inability to operate her account domiciled with the Defendant due to its freezing.
3. Loss of reputation occasioned by the Defendant’s wrongful dishonouring of her payment instructions to third parties.
But in a letter to Shagaya’s counsel, the bank said it has a legal and ethical responsibility to render assistance to law enforcement agencies.
“While the bank respects the contractual nature of the relationship with your client, it is without prejudice to the bank’s standing as a responsible law abiding corporate citizen.
“In spite of the bank’s contractual relationship with your client, that relationship is not without a legal and ethical responsibility to render assistance to law enforcement agencies when required of the bank.
“Litigation against the bank will therefore not be necessary in the circumstance,” part of the letter read.
BREAKING: I Remain Lagos Police Commissioner, It’s A New Order From Abuja – Edgal Imohimi Declares
Edgal Imohimi, has declared that he remains the Lagos State Commissioner of Police.
Imohimi told members of the press on Tuesday during a handover-takeover ceremony between him and supposed incoming CP, Kayode Egbetokun, that they were about concluding the process when a directive came from Abuja asking them to suspend the action.
Imohimi, who addressed journalists in the presence of Egbetokun at the Lagos State Police Command’s headquarters, said, “I am sure that you know Mr Kayode Egbetokun, he is an old timer in the command.
“You all know that our first job is about order and direction; we were about concluding the handing and taking over procedure when we were instructed by our bosses from Abuja to suspend action for now. So, there will be no change of guard for now. Of course, we would keep the press briefed about any development.
“But I am happy, humbled that you find it serious enough for you all to come to witness what we are doing here. I consider it an honor.”
JUST IN: Buhari Formally Names Mohammed Adamu New IGP, Decorates Him In Aso Rock [PHOTOS]
President Muhammadu Buhari has officially named Mohammed Adamu as acting Inspector-General of Police, IGP.
Buhari decorated him with the new rank during his meeting with the outgoing Inspector General of Police, IGP Ibrahim Idris
Mohammed had served as the Commissioner of Police in Enugu State.
He was one-time director of peacekeeping operations of the Force.
He had been the Assistant Inspector General of Police, Zone Five, in Benin, Edo State.
EFCC Nabs Bishop Defrauding People In God’s Name
The Economic and Financial Crimes Commission, EFCC, Benin Zonal Office has arrested a Bishop and suspected fraudster, Giniko Obi, for allegedly defrauding thousands of people of millions of naira, in the guise of helping them “fight poverty”.
Obi, founder of Beloved Gideon Foundation, based in Agbor, Delta State, with outreaches in Bayelsa, Onitsha, Lagos, Port Harcourt, Abuja and Benin City, however, denied any involvement in fraud claiming that he was only “doing the will of God by trying to help the people fight poverty”.
According to him, it was his desire and God’s will to see people prosper that led him into operating what appears to be a Ponzi Scheme. Obi who claim to be a consecrated Bishop, possessing a diploma in theology explains thus:
“We write books such as ‘24 Nuggets for Successful Living’, ‘36 Nuggets for Successful Living’, ‘48 Nuggets for Successful Living’. We organise seminars and conferences on how to be successful. We tell the people to subscribe to these publications. If you subscribe with N10, 800, we give you N15, 000. If you subscribe with N18, 000, we give you N23, 000. I had about 30,000 subscribers and I was paying them”.
According to him, when he left Agbor for Lagos, his desire was to expand his subscription base but his subscribers were impatient.
“If they allowed me to hold the conference in Lagos, I would have paid them,” he claimed.
However, some of his victims who have continued to throng the EFCC office, since his arrest, described him as a “fraud”.
One of them, Janet Amaka Okafor, said the Bishop sold a dummy to them by claiming that he was from the famous Gideons International, based in the United States.
She said: “He organised seminars in Agbor market that he was from Gideons International and that their mission was to help eradicate poverty in Nigeria.
“He told us that unlike in the past when Gideons International distributed Bibles and Christian literatures, their mission now was to eradicate poverty”.
On how she became a victim of the scheme, Okafor, 35, who claims she has never participated in any Ponzi scheme in the past said she fell for his tricks because the “Bishop” swore with the Bible.
“The Bishop knelt down and swore with the Bible. He convinced us that he was from Texas, USA and we believed him. I subscribed with N10, 800 and he paid me N15, 000. It was after this that he engaged over 60 of us as canvassers. I brought many people including my relations and friends. All together, they invested over N5 million”.
Another victim, Bessie Nwadibire, 67, said the Bishop was very deceptive from the beginning.
“When he came to the market he gave out drinks and dashed some people money as much as N50, 000 as he said the poverty rate in Nigeria was too high,” Nwadibire said, praying and hoping that the Bishop will be made to refund her money.
Expressing gratitude that the EFCC has arrested the Bishop, she said, “Before he was arrested, we went into hiding, because all the people who invested their money into the business through me have threatened to kill me unless I refund their money. The money is over N8, 000, 000 (Eight Million Naira) only”.
The same tale of woes has become the lot of Wisdom Aderemor Okpuzor, a civil servant based in Agbor.
Okpuzor who said she had to flee her home for fear of being attacked described the Bishop as “callous and evil”.
The suspect will soon be arraigned in court. (NAN)
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