:oIt is reported today in ThisDay online and some other Nigerian newspaper, that EFCC has arrested Babangida's son. He is being queried about the 24% shares of Globacom allegedly traced to him.
Are the sacred cows now being brought to the slaughter?

Pls can enlightened us where precisely to find the news package from a reliable source media?

Mohammed Babangida detained, EFCC looks into Globacom and IBB’s “front investments”

Mohammed Babangida, polo player and first son of former military president Ibrahim Babangida was arrested earlier today by the Economic and Financial Crimes Commission (EFCC) from his Abuja hotel suite, sources told Saharareporters.

A source within the EFCC confirmed that his arrest was part continuation of a prolonged probe into the ownership of GLOBACOM, a telecom company owned by Mike Adenuga who was recently arrested by the EFCC.

Mohammed Babangida is alleged to posses 24% ownership in the $1.5 billion company. He had earlier been invited by the EFCC to explain how he came about the wealth used in purchasing the shares and he denied knowledge of such investments. The EFCC source said their investigation finally paid off after Mike Adenuga revealed this to the EFCC during his arrest and interrogation. Mike Adenuga had long been rumored as a front for retired General Babangida, who is unarguably one of Nigeria’s most corrupt past leaders.

Mohammed, according to our sources also owns oil blocks in Nigeria and Equatorial Guinea as well as several buildings in London even though he never held a real job his entire life.

Mohammed is married to Rahama Indimi, daughter of another IBB’s associate and front man, Alhaji Mohammed Indimi, Chairman of Oriental Energy Resources Limited which owns Oil Mining License (OML) 115 and Oil Prospecting License (OPL) 224 which covers around 61,000 acres located in shallow waters 35 miles offshore Nigeria's prolific southeastern producing area, Texas based Sovereign Oil and Gas company provides technical support to Oriental.

Sovereign's President Joseph M. Bruso, Jr. once said, "OML 115 is located in one of the richest oil tracts in the world. The block lies at the center of a 1.2 million-acre tract with over 7 billion barrels of proved oil reserves. The area produces over one million barrels of oil per day."

There is no official word from the EFCC about plan to bring charges against Mohammed Babangida. As at press time, IBB and his political associates were making frantic efforts to bail Mohammed from the EFCC in Abuja.


http://www.saharareporter.com/dn001.php?dnid=104

IBB its only a matter of time, Nigerian soul Will clown on him and his nefarious, dubious money laundry saga.

its about time

I wonder how he got all that money well, maybe his uncle sunny Udogu gave him the money

lol.

All this one na story. No be naija we dey? IBB is still the most powerful man in Nigeria and daddy OBJ no fit touch am yet.

why are we all wasting time on a gist whose end can be predicted? i will tell you what. it's either he will be realased very soon and given a clean bill of health, (probably even apologised to), or he will still be realased and EFCC will tell us they are still investigating him. need no soothsayer to tell you his case with EFCC will then be layed to a tactical rest.
  there is no sincererity in all these politically motivated arrest. won' mo nko ti won se'.(them know wetin them dey do) . go and hussle for your daily bread and stop wasting strenth on a concluded issue.

Now, EFCC is doing a good job

lets watch and see. as the late Bola Ige once said, "make we sidon look".

@buchio7; na u biko - dem go soon do government magic (everything go just quiet)

For the IBBs of this country to be able to face justice, they have to be dead by then. Until these men that have held Nigeria in bondage die, i don't see peace o. Was it not Ojukwu (who ran away at the heat of the Biafra war - I don't know if my facts are right here) that said sumthing sum few weeks ago about being ready to go to war again if 2007 is manipulated? Is it not IBB that ruined Nigeria and carried out many extra judicial killings that's coming for presidency and some fools in my opinion are canvasssing for him? , More like that

Exactly deepsoul, soon there will be a pharoah who does not know moses running the affairs of this nation n by den,

woow!!! the news headline are really taking shape an these news paper are goin to be selling in bundle from murder of williams, murder by our honourably mr Dr rev. king aka his holiness to various laundry charges the heat is really increasin well wheathe we all know the end of this i geuss it could take a new turn we are not all bad leafs afta all the sacred cow could be offered to the masses for slaughter afterward dat would be more like it, like mode9 said it about to get ugly i bet w should just act like dre "THE WATCHER" cos even most of us watchin could get hit

Muhammad is going down, remember he was detain last year in swiss for withdrawing huge amount of money, he has to prove the source of his money.  this is no joking matter, IBB will start shaking like headless chicken, stay tune.

lets wait and see their "gofment magic"

Nigeria is getting interesting everyday.

he will be released and the story will end. no long thing.

o ga sa o!   where did this people want to head nigeria to? and IBB is trying his way back to the presidency! oloun gba wa o lowo awon amunisin yi o!

Does the Rich also cry in Nigeria?

Wash and See is the name of the game.

Happy viewing.

Why is the govt witch hunting the poor chap, abi na im tell im poppa to theif all dem millons?? If EFCC will deem it worthy to arrest Babangida's son,then I think I should remind them that a certain Segun Obasanjo resides somewhere in the US.Afterall wat is sauce for the goose is also same for the gander, CHIKENA

the guy should tell ribadu that his father gave him the money.

abi!!!

No His uncle Sunny Odogu game him the money remember he gave IBB a provate jet for his 50th Birth day then. and this is Mariam's brother, we will see, this time they have to prove the source of the finance, watch and see. And if my father is reading this thread, how come you havent shown me the money? lol

make ribadu go arrest IBB then na dat time we go know say e serious.

Thisday

EFCC Chairman, Mallam Nuhu Ribadu had on Thursday vowed that the commission would expose all highly placed individuals who had looted public treasury. Ribadu, who said this in Lagos at a lecture organised by the Financial Institutions Training Centre (FITC), explained that the disclosure would enhance the commission?s campaign against corrupt politicians who were waiting in the wings to take power in 2007.

1.[/b]Over $400 billion oil money has been stolen by bad leaders. We are going to trace the activities of past and present leaders and publish the names of those leaders who have laundered money, their accounts and the names of the banks where the money is being kept.

[b]2.[/b]We will also close the account of those politicians who have laundered money and converted it for their political ambitions. This will stop bad people from coming into power,? he threatened.

[b]3."Over 80 per cent of Nigeria's money has gone to waste. This is a country with massive resources but people are suffering simply because we have poor management.?

[b]4.[/b]We respect people but there is no reason why people should respect a thief. If the leaders reduce themselves to cheap goat, we will discipline them,? he stated.

[b]Father in Heaven, do send your help & protection to Ribadu.[/b]I hope he does what he says!

IBB's son has been released.

Read below from Vanguard Newspaper

THE Economic and Financial Crimes Commission (EFCC) has released Mohammed Ibrahim Babangida, the son of former military president, General Ibrahim Babangida, from its custody.
Mohammed was arrested, Friday night, in connection with EFCC investigations into the shares of an indigenous mobile telecommunications giant, Globacom, but was said to have been released yesterday morning on bail as nothing had been found against him on the matter.

According to EFCC sources, Mohammed purchased about 24 percent shares in Globacom
and allegedly gave conflicting information about the shares contrary to the law.
It was alleged that although the suspect used a fictitious company, any knowledge of the matter when EFCC confronted him.

The sources alleged that it was when the EFCC traced the address of the fake company to Mohammed’s house in Kaduna that they closed in on him.

The chairman of Globacom, Otunba Mike Adenuga, had been arrested last month by EFCC operatives over alleged non-remittance of petroleum development tax which it collected from consumers through Consolidated Oil allegedly owned by the business mogul.
However, a source close to Babangia’s son told Sunday Vanguard yesterday that Mohammed was released after he allegedly made a statement to the EFCC.

“He has been released. He was released early this morning (yesterday) because nothing was found against him. We know those who sent the EFCC after him and we know who they are after but they will get nothing.

“You see, the same EFCC which arrested Mohammed was there when it was alleged that Obasanjo’s son bought a house in USA at a princely sum of N75 million and although the person who was accused was not working, he was not investigated. We know where they are coming from but, as said earlier, they will fail,” the source added.

Sometimes the shortsightedness of we nigerians baffles me.

Don't Get me wrong oh. EFCC is a good thing because in the long run its objectives will come home to roost and no one will be safe. Not even Obasanjo him self.

EFCC has been used as a tool by Obasanjo to root out all his opponents from Dariye to Alams to Atiku and right now he's going for his EX Godfather Babaginda by starting out with son. Kasala go soon burst.


All i know is please EFCC should ask Obasanjo to explain where he got the money to purchase 200 million shares he has in transcorp. Abi is the job as presido of Naija paying as much as one would expect for the CEO of a Fortune 500 Company?

YES o

I hear the federal house wants to institute a probe into transcorp shareholding information.