Fraud: Police arrest Ogunleye, NDIC’s MD   
Written by Kingsley Omonobi, Chris Ochayi     
Saturday, 04 April 2009 


[b]Declares Kenny Martins wanted

ABUJA — The Police in Abuja yesterday arrested the Managing Director of the Nigeria deposit Insurance Company (NDIC), Mr. Ganiyu Ogundele over an alleged fraud of N500million being part of depositors funds invested in the Karu International market situated in Karu, Nassarawa state.

The arrest of Ogunleye is coming on the heels of Chef Kenny Martins, former National Coordinator, Police Equipment Foundation (PEF), been declared wanted by the police for using the name of federal government to defraud a United States based security company to the tune of $97.5 million.

According to Vanguard investigations, the NDIC Managing director and his officials, re_negotiated a loan facility of N1.5billion already agreed as balance of money to be paid as depositors funds to Fortune Bank by the Nassarawa State government by slicing away the sum of N500million of the money without the knowledge of the owners of the money.

It was gathered that an agreement was reached between Nasssarawa State government and Fortune bank to raise the sum of N2.5billion top build the international market and after completion, Nassarawa State government paid back N1billion. The interim Managers of the market now negotiated with Nassarawa state for the payment of the balance of N1.5billion.

Surprisingly, NDIC, which is supposed to be protecting the banks, went to Nassarawa State government and renegotiated with the state to pay N1billion. The question the Police are trying to unravel is what has happened to the N500million that was sliced off the original agreement.[/b]Police Statement on the issue said, “The Managing Director of National Deposit Insurance Company, Ganiyu Ogunleye has been arrested and is being detained bt the Special Investigation Unit of the Police”.
“His arrest and detention was as a result of a follow up to Senate Public Hearing in January, 2009 on distressed Fortune Bank. The Managing Director of NDIC Ganiyu Ogunleye was involved in a controversial waiver of N500million over the sale of Karu International Market by the Nassarawa state government”.

“The Nigeria Police is investigating the role, circumstances and the level of involvement of NDIC and any other agency, group or persons in the controversial waiver”.

On why Kenny Martins is wanted, the police in a statement signed by ACP Emmanuel Ojukwu yesterday in Abuja said, “The Nigeria Police has declared erstwhile National Coordinator, Police Equipment Foundation wanted for his involvement in a case of impersonation, conspiracy and unlawful use of federal government name to defraud a US based security company known as Calvary Security Group of a whooping sum of 97. 5million US dollars”.

“The declaration was sequel to the request by the Inspector General of Police, Mike Okiro to the Senior Magistrate Court, Wuse, which consequently granted the application that necessitated declaring Chief Kenny Matins wanted”.

“Kenny Martins you will recall was the National Coordinator of Police Foundation, the position which he has been using to defraud unsuspecting corporate organizations and individuals all in the name of Police Equipment Foundation”.

“The Nigerian Police authority is hereby appealing to the general public, corporate bodies or any individual who has any useful information that will lead to the arrest of Chief Kenny Martins to report to the nearest Police station or Force Special Investigations Unit, Force headquarters, Abuja”



http://www.vanguardngr.com/content/view/32779/42/

After the arrest, what next?