The Economic and Financial Crimes Commission (EFCC) has revealed Shamsudeen Bala, the son of a former Minister of the Federal Capital Territory (FCT), paid about N1billion cash for plots of land and houses.




The suspect will be arraigned in court today alongside four others— Bird Trust Agro Allied Ltd, Intertrans Global Logistics Ltd, Diakin Telecommunications Ltd and Bal-Vac Mining Ltd.

All the suspects are to face a 15-count charge at the Federal High Court, Abuja.

According to the EFCC, the son of the former minister, Bala Mohammed, paid cash for five plots of land and four properties in highbrow areas of Abuja to avoid any suspicion by banks and other
monitoring agencies.

The purchases include:

 five plots at Asokoro Gardens; 
House FS 2 B, Green Acre Estate Apo-Dutse, Abuja; 
House FS 1A, Green Acre Estate, Apo-Dutse; 
FS 1B, Green Acre Estate, Apo-Dutse, Abuja 
and House 2A, No. 7, Gana Street, Maitama, Abuja.

The anti-graft agency is accusing Shamsudeen of money laundering for allegedly making cash payment for choice houses in excess of the statutory limit without going through a financial institution.

Three of the duplexes traced to Shamsudeen have been seized in line with sections 28 and 34 of the EFCC (Establishment Act) 2004 and Section 13(1) of the Federal High Court Act, 2004, which empower the anti-graft agency to invoke Interim Assets Forfeiture Clause.

The EFCC gave details of how the plots of land and mansions were bought in the 15 charges against Shamsudeen and four others.

Shamsudeen and the others are said to have paid:

•N80million cash to Sunrise Estate Development Ltd for the purchase of plot nos. 2116 and 2276 at Asokoro Gardens (alias Sunrise Estate) Abuja which sum exceeded the statutory limit and thereby committed an offence contrary to Section 1 of the Money Laundering (Prohibition) Act, 2011 as amended in 2012 and punishable under Section 16(2)(b) and (4) of the same Act;
•N100million cash to Sunrise Estate Development Ltd for the purchase of plot nos. 2116 and 2276 at Asokoro Gardens (alias Sunrise Estate) Abuja which sum exceeded the statutory limit and thereby committed an offence contrary to Section 1 of the Money Laundering (Prohibition) Act, 2011 as (amended by Act No. 1 of 2012) and punishable under Section 16(2)(b) and (4) of the same Act;
•N110,000,000.00 cash to A & K Construction Ltd, Abuja and Sunrise Estate Development Ltd for the purchase of plot nos. 2116 and 2276 at Asokoro Gardens, which sum exceeded the statutory limit and thereby committed an offence contrary to Section 1 of the Money Laundering (Prohibition) Act, 2011 as (amended by Act No. 1 of 2012) and punishable under Section 16(2)(b) and (4) of the same Act;
•N200,000,000.00 cash to A & K Construction Ltd Abuja and Sunrise Estate Development Ltd for the purchase of plot nos. 2116 and 2276 at Asokoro Gardens, which sum exceeded the statutory limit and thereby committed an offence contrary to Section 1 of the Money Laundering (Prohibition) Act, 2011 as amended by Act No. 1 of 2012 and punishable under Section 16(2)(b) and (4) of the same Act.
•N296,000,000.00 cash to A & K Construction Ltd Abuja for the construction of a house on plot nos. 2116 and 2276 at Asokoro Gardens (alias Sunrise Estate), Abuja which sum exceeded the statutory limit and thereby committed an offence contrary to Section 1 of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012) and punishable under Section 16(2)(b) and (4) of the same Act;
•N45,475,000.00 only to Abuja Investment Company Ltd as part payment for the purchase of House FS 2 B Green Acre Estate Apo- Dutse Abuja;
*N74,244,005.00 cash to Abuja Investment Company Ltd as part payment for purchase of House FS 1A Green Acre Estate Apo-Dutse Abuja;
•N200million cash to Faruk Saleh at Abuja for House 2A, No. 7 Gana Street, Maitama Abuja;

Shamsudeen Bala (alias Shamsuden Mohammed Bala) is accused of failing on June 2016 to make full declaration of his assets to wit: your accounts domiciled at Standard Chartered Bank Plc when he completed the EFCC Asset Declaration Form A, contrary Section 27(1) of the EFCC (Establishment) Act 2004 and punishable under Section 27(3) of the same Act.
http://thenationonlineng.net/ex-ministers-son-pays-n1b-cash-land-four-houses/

Imagine Buhari after U.K trip saying I will build a wall. The whole world will donates building materials.

At the end..... they will set them free...... At the end..... they will set them free......

Another tales by moonlight to keep us entertained while Buhari is on vacation , the economy in recession and the polity in shambles.


EFCC, you are not a media outfit. Fight your battles in court and get convictions before coming to tell us some horse sh1t.

Good job EFCC

We are tired of this everyday news of arraignment in court, we need results, we need our money back, not this cat & mouse games you are playing with each other

EFCC Should let person rest with all Public Show of Fame!!!!!!!

Why is EFCC always leaking information concerning sensitive investigations to d press?
Telemundo,according to Olisa Metuh.

Mark my words, the toothless bulldog (EFCC) can only bark but not bite.
How many high profile crime have they been able to prosecute since the outset of this administration?
What's the hullabaloo all about?

SMH

too bad mehnn

jesu !!!!see another Dangote wea many people no knw ...but they will soon release him nw , but if is an ordinary man wea go steal Gari ,Rice or Semovita becos of hunger they will burn him.. Rubbish country indeed

1b cash.. Hmmmmm

Why this type of people will not wish Buhari dead! This is another mile stone achivement in Mr President anti-graft war.

Whenever we want to get serious these dudes will bring some news to distract us.
If they are not arresting judges today,they discovering looted funds tomorrow.

We refuse to be distracted this time. #wemustprotest come February 5th.

OMG!! 1billion cash 4 dis recession! Hmmmmmmmm, nd sum pple can't survive on a dollar per day! Biko na just 1million I need! Thunder fire poverty nd whoever says we re poor in dis country

...thief , na him pupcy design microsoft. Yet they born people for stealing phone.

Realcash224:
Why this type of people will not wish Buhari dead! This is another mile stone achivement in Mr President anti-graft war.

That's it. And u will find out that they are the sponsors of the planned protest.

Let this 1billion not be like the alleged multi-billion naira home you claimed diezani built. If found guilty let him rot away in jail.If the son has 1billion only God knows how much the father stole.

Evidence that Nigeria was fluorishing under the era of the ineffectual buffoon and god of ipob bastards.

WHY UNA NO BURN AM LIKE UNA DEY BURN THIEFS FOR WARRI AND ARIARIA .
IDIOTS

Is that really possible? #1,000,000,000 in cash? Dollars or pounds would've been more believable. If true that is

I go school after i learn hand work with my hard work i dnt havd #10000 now, i swear i'll not suffer my self by vote to anyone again, God bless Nig

can u imagine...1b juz a son,what about d old drunkard fool?...how on earth we wouldn't b in recession

God will punish all wailing zombies for pushing lies about their hero of thieves who ruined the country and left this mess behind

Will dis newspaper trail bring out d money? If nt I don't give a damn abt it

Blood of Nebucadnezer..
1 billion in cash!!
Son of an ex-minister??

EFCC should take Shamsudeen Bala to court and stop 'accusing' him in the media. Let the media report what he has actually been charged with and not what he is GOING TO BE charged with.

kabrud:


That's it. And u will find out that they are the sponsors of the planned protest.

You will easily if the protest focuses only on this administration.



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