Ex-Finance Minister ARRESTED Over Fraudulent Withdrawals From CBN, Fani-Kayode, Falae Named As Beneficiaries

The Nation - Economic and Financial Crimes Commission (EFCC) detectives yesterday detained former Finance Minister Mrs. Nenadi Usman.

The EFCC is probing her role in how billions was withdrawn from the Central Bank of Nigeria (CBN) and paid into the accounts of six chieftains of the Peoples Democratic Party (PDP) and the Goodluck Support Group (GSG).

She allegedly owns an account, titled “Joint Trust Dimension Nigeria Limited” in which a substantial part of the funds was lodged. Cash was disbursed to party chieftains from the account, according to investigators.

Besides Mrs Usman, other suspected beneficiaries of the “bazaar” include former Aviation Minister Femi Fani-Kayode; former Secretary to the Government of the Federation and Social Democratic Party (SDP) leader Chief Olu Falae; former Imo State Governor Achike Udenwa; former Minister of State for Foreign Affairs Viola Onwuliri and Okey Ezenwa.

But most of these individuals have denied involvement in the money sharing.

There were strong indications last night that all those who got the slush funds might be picked up by the anti-graft agency.'

Mrs Usman reported at the Lagos office of the agency and was immediately taken into custody for interrogation.

“We may relocate her to Abuja but for now, she has been detained in Lagos.

“She was said to have received the sum of N2.5 billion out of the over N4 billion which was transferred out of Central Bank of Nigeria into various individuals and company’s accounts

“In addition, the sum of N140 million cash was allegedly paid into her Zenith Bank Account in January 2015.

“Some of these funds are said to have been traced to her personal account and her company’s account which she used to acquire properties in Abuja.”

A top source conversant with the deal, which landed the ex-Minister in trouble, said: “Mrs Usman was the Director of Finance of the Presidential Campaign Committee for the re-election of ex-President Goodluck Jonathan. At the prompting of the former President, N4billion was withdrawn from the CBN under the guise of security needs for disbursement to party chieftains.

“The cash was transferred into the account of Joint Trust Dimension Nigeria Limited, a company traced to Mrs Usman, where it was later shared to various individuals and organisations for purposes that are not stated.

“Nenadi, who made a statement to EFCC later went abroad on an undisclosed mission.

“Her trip slowed down investigation because as a vital coordinator, she ought to reappear for further interrogation. This development made the EFCC to watch-list the ex-minister.”

The details of how the funds were disbursed are: Fani-Kayode (N840million); Goodluck Support Group (N320million); Achike Udenwa and Viola Onwuliri (N350million); Nenadi Usman (N140million); and Okey Ezenwa (N100million).

The source gave insights into how the funds were remitted into the accounts of the seven suspects.

He added: “Fani-Kayode was the chief beneficiary of the disbursement as he allegedly received N840million, paid in three tranches into his Zenith Bank, Maitama branch account with No.1004735721.

“The first tranche of payment involving N350million hit the account on February 19, 2015. Another N250milion was also paid into the account on February19, 2015 while N240million was credited to the account a month later; precisely, March 19, 2015.

“The balance on this account as at 31st December, 2015 was N189, 402.72.

“Next is Goodluck Support Group, which allegedly received N320million

“Falae allegedly received N100m through Marreco Limited, a company where he is Chairman. The fund was credited into the company’s United Bank for Africa Plc account No. 1000627022 on March 25, 2014.

“Both Udenwa and Mrs Onwuliri got N350million in two tranches. The first tranche of N150million was paid into their joint account with Zenith Bank on January 13, 2015. The second tranche of N200miilion was credited into their account with Diamond Bank.

“Nenadi Usman got funds through her Zenith Bank account no. 1000158311 on 7, Kachia Road, Kaduna; N36.9million was credited to her.

Okey Ezenwa got N100million.”

The EFCC yesterday confirmed the arrest of a Permanent Secretary in the Ministry of Labour, Dr. Clement Illoh, to whose Zenith Bank N316 million traced to.

A source said: “The EFCC in the course of investigating the Technical Committee for Ratification of MLC of Nigeria Maritime Administration and Safety Agency (NIMASA) discovered that the sum of N14.1 million was paid to Clement & Bob Associates.

“Further investigation revealed that the said company, Clement & Bob Associates, belongs to Dr. Clement Illoh, where he is the sole signatory.

“It was further discovered that the sum of N49 million and N13 million were also paid into Clement & Bob Associates account from the now defunct Subsidy Reinvestment Programme, SURE –P.

“Illoh has been unable to provide satisfactory answer on how he came about the said N316 million in which he has the sum of N200 million in fixed deposit and over N16 million as balance in Zenith Bank.

”The EFCC also discovered that Illoh purchased property worth N75 million from Aso Savings and Loan, Abuja using the name of his wife, Rose.”

Go And Face 'The Music' - Jonathan Disowns Fani-Kayode, Falae, Others Over N3.1b CBN Largess

There is confusion in ex-President Goodluck Jonathan’s camp on how to refund the N3.1 billion allegedly shared by six Peoples Democratic Party (PDP) chiefs.

The Economic and Financial Crimes Commission (EFCC) is battling to recover the cash. It was learnt that some of the beneficiaries ran to Dr, Jonathan but he insisted that he will not bail out any minister or public officer involved in the deal.

It was learnt yesterday that a former Minister of Finance, Mrs. Nenadi Usman, had interacted with EFCC operatives in the last few weeks before the anti-graft agency blew open the fraud.

There was a sharp disagreement among the beneficiaries of the largesse on how to refund the cash, sources told The Nation.

Some members of the defunct Campaign Committee of the PDP were shocked that such a huge amount was collected under the table by a few directors.

They have asked the beneficiaries to bear the consequences of diversion of public funds.

Some members of the committee have also threatened to spill the bean on other public funds made available which were diverted by some stalwarts of the party.

But the real issue was on how to refund the N3.145billion to the EFCC.

While some claimed that they expended the money on Jonathan’s re-election campaign, others were running round to source for the funds from some PDP chieftains and former members of the Federal Executive Council to cover up their track.

But there was no breakthrough for some of the beneficiaries last night.

A top source said: “There is confusion in Jonathan’s camp. Many top members of the campaign committee were dazed that such huge cash was shared without any general information.

“Some of them have volunteered to testify against some of the beneficiaries if the EFCC digs deeper. They have been threatening to expose other dirty deals.

“Also, ex-President Jonathan has stayed away from the matter. One of the beneficiaries went to the ex-President for a bailout but the former leader said he will ‘not assist anybody but they should go and return whatever was given to them’.

“The beneficiary was said to have diverted N500million out of the N2billion, which he was to remit to the committee. He only gave out N1.5billion.

“The case of some public officers involved in the deal was worse because the former President has asked everyone to bear his or her own cross.

“As it is now, those given the cash will have to look for ways to refund it.”

A member of the Campaign Committee said: “We are not united on this N3.145billion. Some of us were disappointed that they got money without telling us. Let them go and face the music.”

Mrs. Usman is believed to have made a statement pending the time a comprehensive investigation will begin.

“The EFCC will interact with some of the beneficiaries soon. But the ultimate goal of the anti-graft commission is to recover the funds,” a source said.

The EFCC uncovered how N3.145b was paid into the accounts of six PDP chieftains and the Goodluck Support Group (GSG) by the Central Bank of Nigeria (CBN) in the build-up to the last presidential elections.

The beneficiaries include a former Minister of Aviation, Chief Femi Fani-Kayode (N840m); a former Secretary to the Government of the Federation and leader of the Social Democratic Party, Chief Olu Falae(N100m); Mrs. (N36.9m); a former Imo State Governor, Chief Achike Udenwa and a former Minister of State for Foreign Affairs, Viola Onwuliri(N350m)  and Okey Ezenwa(N100m).

The Nation