EFCC Discovers $1 billion In Speaker Bankole's Proxy Account In UBA, Jonathan Wades In To Halt His Arrest




By SaharaReporters, New York

SaharaReporters’ investigation of the outgoing Speaker of the House of Representatives, Dimeji Bankole, has unearthed that he owns a startling $1 billion stashed away in a domiciliary account at the United Bank of Africa (UBA). Our investigations revealed that the account is being operated for Mr. Bankole by his Principal Officer, Morris Ekpeyong.

The account was opened in 2009 and had since been operated on behalf of Bankole by Mr. Ekpeyong.

Our investigation confirms that the 41-year old outgoing Speaker had diverted funds into the account from budgetary allocations to the House of Representatives.

Sources at the Economic and Financial Crimes Commission (EFCC) told SaharaReporters that their investigators were stunned by the massive scale of Mr. Bankole’s money laundering activities. Two officials of the anti-corruption agency as well as a source in the Presidency disclosed that President Goodluck Jonathan was standing in the way of the EFCC’s plan to arrest Mr. Bankole in response to his latest scandal financial scam as well as a spate of other money laundering activities in their docket.

The outgoing Speaker, who has made extensive real estate deals since he became Nigeria’s third most powerful man, is considered to be one of the most corrupt officials in public service today in Nigeria.

He has grown immensely rich as Speaker, routinely using a variety of proxies in his extensive deals. Through such willing individuals, he has bought several houses in South Africa and the US.

The outgoing Speaker, who was trounced in his reelection bid, also recently bought the 32-storey NITEL building in Lagos for N4 billion, and is the owner of a N7 billion hotel resort undergoing construction in the Akodo area of Lekki in Lagos.

Our investigations revealed that one of Mr. Bankole’s key and most trusted money-laundering pals is Ade Gbadebo, the son of the Alake of Egbaland. Our sources disclosed that Mr. Gbadebo has helped Bankole move about $500 million through several bank accounts.

The Speaker and his father also recently completed seven duplexes after he tore down his father's old house in Abeokuta.  Our investigations show that Mr. Bankole has built a huge mansion in Abeokuta that is completely hidden from the public through the use of tarps and construction covers.

In an investigative report in September 2010, Saharareporters had identified two ladies being used by Mr. Bankole in a N5 billion scam.  The women, Angela Oselukwu and Uduak Akpan Israel, are now fugitives and have been declared wanted by the EFCC. They were involved in stealing N5 billion from the Rural Electrification Agency (REA).

Speaker Bankole and his siblings used the two fugitive women to open accounts at the UBA. Payments were then made into the accounts for the benefit of four companies belonging to the Bankoles: Vulysteke Metallic Construction Ltd, Parthenon Acropolis Nig. Ltd, Complete Trade Nig. Ltd, Zobra Global Services Ltd and F-Plus Concept Ltd.

As Speaker, Mr. Bankole was also notoriously embroiled in a N2.3 billion car scam as well as the misuse of the N9 billion capital budget of the House for 2008/2009.

Last year, the EFCC boss announced that the commission had concluded its investigation of the issue and sent its report to the presidency, but nothing further was heard from the presidency.

Mr. Bankole is also currently entrapped in another scandal in which he used the House of Representatives as collateral to obtain a personal loan of N10 billion from UBA. The loan is yet to be accounted for. The EFCC summoned Mr. Bankole to appear for interrogation last Thursday, but he did not show up.  Instead, he sent a letter to the agency pleading that he was tied down by “inauguration” activities.

A baffling turn in the story is that the embattled Speaker has persuaded Mr. Goodluck Jonathan to order that the investigations against him be stopped. SaharaReporters learned today from different sources within the EFCC and the Presidency that Mr. Jonathan, who will be inaugurated tomorrow for a term of four years as President, assured the outgoing Speaker that he would prevail on the EFCC leadership to end the investigation against the speaker. 

Mr. Jonathan’s intervention on behalf of the speaker contradicts pledges he made during his presidential election campaigns. Mr. Jonathan had vowed never to interfere with the work of any anti-corruption bodies.

satani22:

This story must be authentic by at least 50%. Goodluck is not ready to fix this country. Hes as corrupt as corruptn itSelf

Justcash:

Chai, see as these people dey use billions dey play, while Naija people dey suffer. 1 BILLION UNITED STATES DOLLARS WITHOUT SWEAT.

Bankole is Bankole. PDP is his political platform. They did not send him to go and steal. He did it on his own. So, he is on his own. Don't blame PDP. If PDP wanted to protect him, no one would have heard a whisper about this case.

snowdrops:

the UBA cannot feign knowledge of this criminal activity.

Myself2:

Feign ignorance you meant?

seanet02:

So according to your bushy brain PDP could have ordered sahara reporters not to disclose this. Very dumb reasoning. The fact is PDP stinks of corruption.

wesley80:

He's got $1b dollars but still takes a personal loan of N10b using the House as collateral? You would think by now people would be smart enough to know WHAT TO QUOTE FROM SR. I've never seen people take so much pride in lame sensationalism. Rubbish

Kilode?!:

Maybe they mean't I billion Naira not Dollars.

Anyway, If this is true ( I still think they meant Naira, not dollars)

PapaBrowne link=topic=677683.msg8410961#msg8410961 date=1306605591:

It is impossible!! I hate the way figures are being peddled in Nigeria. Whoever released these figures is actually trying to capitalise on the inability of most Nigerians to reason beyond sensationalism! There is way Bankole can have 1 Billion dollars in his account except he has a very, very massive oil well!!  

Justcash:

So according to your empty skull, Sahara reporters can report what they have no news about? Very eediotic reasoning. If your father steals your mother's money, you go blame PDP. PDP na UBA abi? Those ladies are members of PDP abi? They were ordered to keep the money for PDP? You are dumb.

Justcash:

So according to your empty skull, Sahara reporters can report what they have no news about? Very eediotic reasoning. If your father steals your mother's money, you go blame PDP. PDP na UBA abi? Those ladies are members of PDP abi? They were ordered to keep the money for PDP? You are dumb.

jensinmi:

I don't know how much was really found in Bankole's account. All I know is anyone that says it is probably N1 billion does not understand how much money the Leadership of the House of Rep comes into contact with.

Bankole has spent 4 years there.
His allowances alone every year will be about N1 billion. That is the legal stuff.
Now, let's not forget the illegal stuff from government, the hidden stuff from oil companies and other lobbyists.

N155 billion naira might be too much to put into a single account. It would however be an insult to Bankole's thieving skills to have only N1 billion in the said account managed by a front.

There is no reason why Bankole could not have stolen as much at N8 billion to N15 billion for every year he was the Speaker. The minimum I would expect from a blatant thief like him would be N5 billion a year. That would be the absolute MINIMUM.