EFCC quizzes Jonathan’s associate who helped distribute ‘slush fund’

[img]http://media.premiumtimesng.com/wp-content/files/2014/02/621x480xDanet.jpg.pagespeed.ic.WSGMaPpxvS.webp[/img]
Former Minister Dan Etete, the man behind Malabu

In continuation of its investoffice.n into the N155billion Malabu Oil deal involving former Petroleum Resources Minister, Dan Etete, and some top officials of the Goodluck Jonathan administration, the Economic and Financial Crimes Commission on Monday interrogated a close associate of both Mr. Etete and Mr. Jonathan.

PREMIUM TIMES learnt that Aliyu Abubakar, a businessman with interest in construction, arrived the agency’s headquarters on Monday morning on the invitation of the EFCC and was still being grilled as at 6 PM.

Mr. Abubakar, this newspaper learnt, is being questioned for his alleged role in the laundering and distribution of at least $523million, being part of the proceeds of the controversial Malabu oil deal.

Investigators found that Mr. Etete allegedly transferred the funds into Mr. Abubakar’s account, from where it was diverted into several other accounts of individuals and organizations.

This website had on May 24, 2012 reported how the Nigerian subsidiaries of two multinational oil companies, Nigeria Agip Exploration Limited (Agip) and Shell Nigeria Exploration and Production Company Limited (Shell), paid $1.1billion (N155billion) to the Federal Government in April 2011 for onward transmission to Malabu Oil, whose principal is Mr. Etete.
Our subsequent investigations later showed that the EFCC had indeed investigated the deal, concluding that the transaction pointed at a “cloudy scene associated with fraudulent dealings”.

The EFCC investigation also clearly established that Mr. Etete’s Malabu only served as a money laundering machine, as substantial parts of the funds was later transferred to various accounts owned by “real and artificial persons” suspected to have links with the Goodluck Jonathan presidency and other government officials.

Presidency sources familiar with the matter said the EFCC intimated then President Jonathan and then Attorney General of the Federation, Mohammed Adoke of its findings.

“But I can tell you that the investigation suffered a setback since the presidency got wind of it,” one of our sources had said. “There is high-level complicity in the deal and there is therefore high-level cover up. The report is gathering dust on the president’s desk.”

Relying on court papers in the United States (where some consultants sued Malabo for breach of contract), checks at the Corporate Affairs Commission (CAC) and on its own investigations, the EFCC had established that “a prima facie case of conspiracy, breach of trust, theft and money laundering can be established against some real and artificial persons.”

Mr. Aliyu and the beneficiaries
At the heart of what is clearly a brazen theft of public funds is Aliyu Abubakar, quizzed for the first time Monday since May 2012 when PREMIUM TIMES first exposed the deal.

Mr. Aliyu had very close business ties with Diepreiye Alamiesegha, convicted former governor of Bayelsa state, who died on October 10 this year.

Mr. Alamiesegha it was who picked Mr. Jonathan as his running mate in the 1999 governorship election in Bayelsa state and whom Mr. Jonathan succeeded in office after the former was impeached over corruption charges.

The late governor played a major role in Mr. Jonathan’s national politics, serving as a major influence, an adviser and at a point, a top campaign official.
Mr. Aliyu, through companies co-owned by him, received direct payments of $523million (N81bn) from the largesse.

Investigators believe that the businessman, introduced to the president by Mr. Alamieyeseigha, was Mr. Jonathan’s front in the transaction.

Sharing the money
On August 16, 2011, Mr. Adoke and the then Minister of State for Finance, Yerima Ngama, coordinated the payment of a first tranche of $401.5million (N60billion) into a First Bank account 2018288005 belonging to Malabu.

Another $400millionn (N60billion) was, based on the duo’s instructions, transferred into a Malabu Bank PHB (now Keystone bank) account 3610042472 from a Nigerian government account with JP Morgan International Bank. The balance of the funds was reportedly lodged into Mr. Etete’s account with Zenith Bank.

Immediately Malabu received the money, the distribution began. Rocky Top Resources Limited, co-owned by Mr. Aliyu received $336 million (N50bn) from the Malabu Keystone Bank deposit. Other companies that got money from the Malabu curious transfers include A-Group Construction Company, also co-owned by Mr. Aliyu. It received $157mn (N24bn), while Novel Property and Development Limited, also co-owned by Mr. Aliyu, got $30 million (N4.5bn).

Companies not linked to Mr. Aliyu but got money from Malabu include Mega Tech Engr Co. Ltd, which received $180 million (N27bn) and Imperial Union Limited, $34million (N5.1bn).

Some sources had told PREMIUM TIMES that those companies, like Mr. Aliyu’s, simply acted as fronts for political office holders, who helped to facilitate the transfer, as they had no basis to receive such huge sums of money from Malabu.

PREMIUM TIMES extensive investigation into this matter had shown how, in order to cover up what is clearly one of the most elaborate corruption schemes in Nigeria’s history, Mr. Jonathan tapped Mr. Ngama, and Mr. Adoke to hurriedly transfer the funds to Mr. Etete on August 16, 2011, a day before the then Minister of Finance, Ngozi Okonjo-Iweala, assumed office.

http://www.premiumtimesng.com/news/headlines/194177-the-n155billion-malabu-scam-efcc-quizzes-jonathans-associate-who-helped-distribute-slush-fund-2.html

We need Firing Squad in dis Con3 walai

Jonathan is a Kingpin of Corruption. Smh for someone's hero.

That's all we get,
That's all we hear,
That's all we see....


#EFCC invites,
#EFCC quizzes,
#EFCC releases.

#Repeat...



No convict, Pathetic Bunch.

This explains why the most lucrative period for crude oil sale in the hisory of man (2011-2014) was squandered by GEJ/PDP. Corruption left, right and center.

Nigeria has nothing to show for that period of boom.

cc: Lalasticlala

LRNZH:
This explains why the most lucrative period for crude oil sale in the hisory of man (2011-2014) was squandered by GEJ/PDP. Corruption left, right and center.

Nigeria has nothing to show for that period of boom.

cc: Lalasticlala

This is the only reason why i voted for change, i have never seen a SINISTER BUCKET SHOP like jona's government.\
Baba abeg you in the name of God, collect our money from these SADISTS who never see anything wrong in stealing huge sums like these.

A

hopeless duara secret service individuals.
be chasing yar own tail there.

what is government is going. to do for the next four years is to keep probing the last administration, nothing special about this slogan called Change

so a lot of dealings is running this country down under the watchful eyes of GEJ. This is pathetic.

God continue to bless our hero.....









Our hero of corruption. ...

Olohun of ds is true... then most of Jonathan's men need to b grilled... wat d hell is this and all dese thieving charlatans know no one... Efcc thumbs up jare...
Buh however ds doesnt stop ds govt as a fookish crass insensitive daft government headed by an old hag president... anytime dea is news about deir failure, dey will come up wit Jonathanian news... e no go better for all of una wey dey APC ... awon ole... see boko haram everywea, no fuel, no light... fools...

Everyday we read stories like this on papers.. When will APC get to work nd start jailing ppl nd stop all these noise...

If I may ask, so no former GEJ associate nw in APC was corrupt? Iranu...




Meanwhile, visit this thread for sales and installation of wallpapers, 3D panels etc..

www.nairaland.com/2740519/meriekriss-intl-services-sales-installations

When wud all these lead to proper prosecution and conviction.The excitement over these probes is wearing out. What Nigerians want to see is conviction of these criminals.
Is also curious that nothing further has been heard on arrest of culprits during the time of Diezanni since the charade of her belated house ransacking by efcc,only after the British moved on her.

when would efcc quiz obj associates on harliburton.

Otherique:
That's all we get,
That's all we hear,
That's all we see....
#EFCC invites,
#EFCC quizzes,
#EFCC releases.
#Repeat...
No convict, Pathetic Bunch.

The FG is getting more boring by the days. APC appears to have been taking our support for fanaticism - and believe all we need is drama and propaganda.

Mark my words! This government (we put so much hope in) is not ready to deliver or just not as resourceful as we had thought.

We all understand the critical issue here is that the nation is broke - and recovering loots can help a long way even if getting convictions becomes too difficult. Stolen money are VERY EASY to trace and identify and a willing government can easily get them back legally.

This government so far has shown more interest in frivolities, photography and insularity. Do not expect any conviction just beg them to stop killing dreams and businesses.

Dem don finish that money o.

Let them face the music now

LRNZH:
EFCC quizzes Jonathan’s associate who helped distribute ‘slush fund’

[img]http://media.premiumtimesng.com/wp-content/files/2014/02/621x480xDanet.jpg.pagespeed.ic.WSGMaPpxvS.webp[/img]
Former Minister Dan Etete, the man behind Malabu

In continuation of its investoffice.n into the N155billion Malabu Oil deal involving former Petroleum Resources Minister, Dan Etete, and some top officials of the Goodluck Jonathan administration, the Economic and Financial Crimes Commission on Monday interrogated a close associate of both Mr. Etete and Mr. Jonathan.

PREMIUM TIMES learnt that Aliyu Abubakar, a businessman with interest in construction, arrived the agency’s headquarters on Monday morning on the invitation of the EFCC and was still being grilled as at 6 PM.

Mr. Abubakar, this newspaper learnt, is being questioned for his alleged role in the laundering and distribution of at least $523million, being part of the proceeds of the controversial Malabu oil deal.

Investigators found that Mr. Etete allegedly transferred the funds into Mr. Abubakar’s account, from where it was diverted into several other accounts of individuals and organizations.

This website had on May 24, 2012 reported how the Nigerian subsidiaries of two multinational oil companies, Nigeria Agip Exploration Limited (Agip) and Shell Nigeria Exploration and Production Company Limited (Shell), paid $1.1billion (N155billion) to the Federal Government in April 2011 for onward transmission to Malabu Oil, whose principal is Mr. Etete.
Our subsequent investigations later showed that the EFCC had indeed investigated the deal, concluding that the transaction pointed at a “cloudy scene associated with fraudulent dealings”.

The EFCC investigation also clearly established that Mr. Etete’s Malabu only served as a money laundering machine, as substantial parts of the funds was later transferred to various accounts owned by “real and artificial persons” suspected to have links with the Goodluck Jonathan presidency and other government officials.

Presidency sources familiar with the matter said the EFCC intimated then President Jonathan and then Attorney General of the Federation, Mohammed Adoke of its findings.

“But I can tell you that the investigation suffered a setback since the presidency got wind of it,” one of our sources had said. “There is high-level complicity in the deal and there is therefore high-level cover up. The report is gathering dust on the president’s desk.”

Relying on court papers in the United States (where some consultants sued Malabo for breach of contract), checks at the Corporate Affairs Commission (CAC) and on its own investigations, the EFCC had established that “a prima facie case of conspiracy, breach of trust, theft and money laundering can be established against some real and artificial persons.”

Mr. Aliyu and the beneficiaries
At the heart of what is clearly a brazen theft of public funds is Aliyu Abubakar, quizzed for the first time Monday since May 2012 when PREMIUM TIMES first exposed the deal.

Mr. Aliyu had very close business ties with Diepreiye Alamiesegha, convicted former governor of Bayelsa state, who died on October 10 this year.

Mr. Alamiesegha it was who picked Mr. Jonathan as his running mate in the 1999 governorship election in Bayelsa state and whom Mr. Jonathan succeeded in office after the former was impeached over corruption charges.

The late governor played a major role in Mr. Jonathan’s national politics, serving as a major influence, an adviser and at a point, a top campaign official.
Mr. Aliyu, through companies co-owned by him, received direct payments of $523million (N81bn) from the largesse.

Investigators believe that the businessman, introduced to the president by Mr. Alamieyeseigha, was Mr. Jonathan’s front in the transaction.

Sharing the money
On August 16, 2011, Mr. Adoke and the then Minister of State for Finance, Yerima Ngama, coordinated the payment of a first tranche of $401.5million (N60billion) into a First Bank account 2018288005 belonging to Malabu.

Another $400millionn (N60billion) was, based on the duo’s instructions, transferred into a Malabu Bank PHB (now Keystone bank) account 3610042472 from a Nigerian government account with JP Morgan International Bank. The balance of the funds was reportedly lodged into Mr. Etete’s account with Zenith Bank.

Immediately Malabu received the money, the distribution began. Rocky Top Resources Limited, co-owned by Mr. Aliyu received $336 million (N50bn) from the Malabu Keystone Bank deposit. Other companies that got money from the Malabu curious transfers include A-Group Construction Company, also co-owned by Mr. Aliyu. It received $157mn (N24bn), while Novel Property and Development Limited, also co-owned by Mr. Aliyu, got $30 million (N4.5bn).

Companies not linked to Mr. Aliyu but got money from Malabu include Mega Tech Engr Co. Ltd, which received $180 million (N27bn) and Imperial Union Limited, $34million (N5.1bn).

Some sources had told PREMIUM TIMES that those companies, like Mr. Aliyu’s, simply acted as fronts for political office holders, who helped to facilitate the transfer, as they had no basis to receive such huge sums of money from Malabu.

PREMIUM TIMES extensive investigation into this matter had shown how, in order to cover up what is clearly one of the most elaborate corruption schemes in Nigeria’s history, Mr. Jonathan tapped Mr. Ngama, and Mr. Adoke to hurriedly transfer the funds to Mr. Etete on August 16, 2011, a day before the then Minister of Finance, Ngozi Okonjo-Iweala, assumed office.

http://www.premiumtimesng.com/news/headlines/194177-the-n155billion-malabu-scam-efcc-quizzes-jonathans-associate-who-helped-distribute-slush-fund-2.html