THE Executive Direct , Projects , in the Niger Delta Development Commission,
Mr. Tuoyo Omatsuli , accused of being involved in a N2. 4 billion fraud in the
commission has denied the allegation .
The Managing Director of the NDDC , Mr. Bassey Dan -Abia , the commission ’ s
Executive Director , Finance and Administration, Henry Ogiri , and Omatsuli ,
were all fingered in the alleged fraud .
A group of activists had petitioned the Economic and Financial Crimes
Commission to investigate the three directors , claiming that they ( directors )
had illegally obtained a loan of N 2.4bn from a first generation bank without
the knowledge of President Goodluck Jonathan and the Board of the NDDC .
The group led by one Chief Ngoye Iyalla , also approached a Federal High Court
in Abuja for an order compelling the EFCC to investigate and prosecute the
three directors for the alleged fraud .
But reacting to the allegation on Saturday, one of the directors , Omatsuli ,
dismissed Iyalla ’ s allegations and challenged him to provide any document to
prove that they ( Omatsuli , Dan -Abia and Ogiri ) took loans on behalf of NDDC .
Omatsuli explained that NDDC was not allowed to take loans and wondered
why the group was accusing them of taking loans .
“ He ( Iyalla ) should have presented the papers we used in taking the loan . At
least , before you take loan from any bank, you must sign documents . Let him
produce any document to show that we took loan .
“ It is not just writing petitions ; the person writing the petition should be able
to bring copies of documents signed for such loan . No bank gives you loan
without you signing some documents .
“ The problem is that they think we are making so much money here . We are
trying to survive. Since this year, how much have we received ? , Oil companies
are not paying . There is no money anywhere . Contractors have finished work
and we cannot pay them and somebody is writing petition .
“ If we have the opportunity to take loan , we will take loan and pay the
contractors . But we cannot take loan because the commission is not allowed
to take loan . For now , we can’t pay them because money is not forthcoming , ”
Omatsuli added.
Iyalla had , in a letter dated February 4, 2015 , alleged that the management of
the commission had been committing series of fraud in NDDC without the
knowledge of President Jonathan or the commission .
According to the petition to the EFCC, “ The management of Niger Delta
Development Commission has been perpetrating series of fraud at the
commission without the knowledge of Mr. President or the board .
“ For example, contrary to section 17 of the NDDC Act , which stipulates that
the commission cannot borrow except with the consent of the board and
approval by Mr. President himself, the management team arranged a revolving
overdraft facility with an old generation bank in Port Harcourt of over
N 2, 400 , 000 , 000 , using an illegal forex account in the same bank which have
been hitherto ordered to be closed , and have not only been illegally paying an
outrageous overdraft management fee of N24 , 000 , 000 monthly but also using
the proceeds to repeatedly pay only a select few contracting firms . ”
In it prayer at the Federal High Court, the group, in Suit No . FHC/ABJ /
CS /301 /2015, sought an order of mandamus to compel the EFCC to investigate
and prosecute the three directors of the commission .
Dan -Abia , Ogiri; and Omatsuli were listed as 3rd , 4 th and 5th respondents in
the suit concerning an alleged serial financial crimes in the running of the
NDDC .
Iyalla had maintained that the three directors in NDDC had been servicing the
said loan with N 2.4 million monthly .
A letter from Iyalla to the directors of the commission dated September 7,
2014 had queried the rationale behind the loan .


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