The House of Representatives Committee on Public Petitions on Wednesday opened investigations against a firm co-owned by the gubernatorial candidate of the All Progressives Congress (APC) in Edo state, Mr. Godwin Obaseki, for alleged criminal appropriation of $16 million.

The firm, KCA-DEUTAG (Nigeria), has as Directors, Obaseki Godwin of Government House, Edo state, Ostermeier Hans Joachim, with address listed as KM 16, Aba expressway, Port Harcourt, and Vadakkara Manoj Raghavan of Villa No.52, Meadows, Dubai.

The investigation was prompted by a petition, “Complaint of criminal appropriation of the sum of $16 million ( N5.570, 950, 000) only, against the estate of late Chief Humphrey Idisi of blessed memory.”

The petition was submitted on May 24, 2016 by Hon. Lovett Ederin Idisi.
Obaseki owns 36 million shares in the firm, while the late Idisi owned 18 million shares, according to documents of the Corporate Affairs Commission.

The petition noted that on July 30, 2002, KCA-DEUTAG Nigeria Limited entered into a drilling/work over contractual agreement with the late Idisi for which the consideration accruing to him was percentaged-commission on all day rates earned by each of six rigs owned by Idisi.

The contract was renewed by the parties with improvements on the entitlements of the late Idisi putting his commission on the rigs at 3.5 percent on day rate earnings, it read.

The petition added that since Idisi died in 2009, KCA-DEUTAG has failed to transmit his entitlements under the existing agreement to the administrators of his estate.

The letter to the House by the solicitor to the estate of the late Idisi, FSS Ojealaro & Co, said KCA-DEUTAG’s default on payment of the entitlements, amounts to criminal misappropriation, and attempt to circumvent the Local Content Act Provisions.

It added that the position occupied by the late Idisi on the board of the company is yet to be filled, in accordance with the existing agreement.

Obaseki’s counsel, Mr. Olukayode Dada at the hearing however urged the committee to adjourn as a case has been instituted to determine if the House can investigate a matter which is a contractual agreement between KCA-DEUTAG and the late Idisi.

His claim was backed by the committee chairman, Hon. Nkem Abonta who disclosed that an Abuja High Court has asked the committee to appear on July 28, 2016 to determine if the House can investigate the matter.

Hon. Lovett Idisi however argued for the doctrine of separation of powers, and that an arm of government cannot stop another from its constitutional roles.

He urged Abonta to continue the hearing as he, Abonta, was yet to be personally served with the notice of court process.

http://www.thisdaylive.com/index.php/2016/06/22/house-cttee-probes-edo-gubernatorial-candidates-firm-for-16m-fraud/

Fake news from sore losers

No this must b a joke, have u forgotten Dt he is a saint? As far as he is an APC member he is innocent.

spako4:
Fake news from sore losers

If it was Jonathan probed for 5 trillion dollars would have been real news to you.

The link is from reputable Thisday newspaper not those your fake source.

A firm criminally appropriated funds (allegedly).
The aggrieved person(s) took it up with the House by submitting a petition.
Investigations commenced.
An APC guber candidate happens to be one of d co-owners of the firm.

No big deal here.

This should teach d mourning frustrated morose wailing wailers to submit concrete evidence (if they have any
) of corruption against anybody or firm to d appropriate channels instead of wankking uncontrollably anytime Amaechi/Fashola/Tinubu etc is mentioned.
The energy used in wailing and wankking to their names should be used to gather evidence.

The House should do a Through Job on this Oshiomhole Dundee, we needs all the Facts, this Guy is inching close to Dennis Osadebey Avenue under his master Guidance. APC Must Pack and Go from Edo State.

iokpebholo:
No this must b a joke, have u forgotten Dt he is a saint? As far as he is an APC member he is innocent.

Lol. I am telling u bro

What a shame. You are just contesting for the first time and you already have loads of fraud allegations against you. SMH

Skillbobralph:
What a shame. You are just contesting for the first time and you already have loads of fraud allegations against you. SMH

APC na scam