I dont believe it myself. . . . but no smoke without fire it seems. . .


http://www.compassnews.net/Ng/index.php?option=com_content&view=article&id=37652:efcc-uncovers-cecilia-ibrus-trillion-naira-assets&catid=48:saturday-compass&Itemid=699




IF findings by the Economic and Financial Crimes Commission (EFCC) are anything to go by, then the embattled former Managing Director of Oceanic Bank Plc, Mrs Cecilia Ibru must have continually laughed at the authors of the Forbes list of the world’s richest persons to scorn, each year that they left her out in their ranking of the affluent across the globe.

Last year, Forbes listed oil magnate, Mr Femi Otedola as joining another prominent businessman, Alhaji Aliko Dangote as members of the prestigious club. The duo and two other black people worldwide were so listed, with Dangote being ranked 261 with an estimated worth of $2.5 billion and Otedola in 601 position with $1.2 billion.

But, with the EFCC findings, the two Nigerian businessmen may be mere mere “boy scouts” in a contest requiring soldiers, among whom she is a General.

The assets already traced to her are in the region of trillions of Naira. Yet, the investigators are still counting. In fact, a top official of the commission told the Nigerian Compass on Saturday that the investigators had become weary because of the tons of wealth being traced to her daily.

The Nigerian legal system is accusatorial and not inquisitorial, meaning that the onus of proof that the vast property traced to her is illegal rests on the accusers and not that the mere possession is proof of any guilt or that she must explain how she got it.

Mrs Ibru will soon have her day in court as she is currently facing charges of money laundering and fraudulent conversion of depositors funds. She recently got court’s leave to travel abroad on medical grounds.

The EFCC’s investigators are currently working hard to link alleged missed funds to the vast property traced to the former bank boss.

Her assets in shares, allegedly bought through proxies and companies traced to her, are well in excess of one trillion Naira.

Even now, and in spite of the economic meltdown at the capital market, the ownership of millions of Naira worth of shares is no mean achievement.

Through what EFCC sources referred to as a maze of investments, the amazon of the Ibru family floated several companies that bought heavy shares in blue chip businesses, including her former bank. Such companies include Cloudy Heights, Bliss Bloss and Circular Global which she used to acquire over 275 million shares in First Bank Nigeria Plc (275,795,139). The companies also bought over 64 million shares in Union Bank of Nigeria (64, 218,000); over 93 million shares in the United Bank for Africa (93,750,000); while in her bank, Oceanic Bank Plc, the companies went over the billion shares mark (1,076,220,421).

Another company traced to her, Velvox, bought over 13 million shares in Oando (13, 200,000) and other shares put at 388 million. Yet another company, Enifor, bought 600 million shares in BGL Plc.
The list continues. Yet another compnay believed to be owned by her, Prisky Gold bought 48.8 million shares in Access Bank Plc, over eight million (8,140,500) in Dangote Flour, over 12 million (12,480,000) in Dangote Sugar Refinery and 12.5 million in Fidelity Bank.

The others by Prisky Gold are over 27 million shares (27,434,791) in First Bank; more than 25 million (25,316,400) in Japaul Oil; 10, 280,000 in Zenith Bank and , wait for it , 200 million shares in Transcorp Plc. Her Africa Lloyd bought another set of shares well above 400 million (431,201,702) in her Oceanic Bank.

The list is much longer.

And, on offshore property, Mrs Ibru is truly an amazon. A list of 11 of such buildings in Maryland shows that for any property to stand a chance of attracting her attention it must be in the average of $400,000. “Many more are being discovered daily in California,” the EFCC source disclosed. The ones currently discovered in Maryland, U.S.A. include 4155 Chariot Way, Upper Marlboro, bought for $452,508,00 on March 12, 2009 with the name Anita Dasilva Ibru; 4145 on the same Chariot Way for $440,105.00 also by Anita Dasilva Ibru a month after (April 14, 2009).

The list also include the property on 4139 on the same Chariot Way, bought with the name Edesiri Onatejerohene Ibru on April 21, 2009 for $451,629.00. Three more houses have been traced to her on Chariot Way. They are 4149 bought in the names of Obaro and Hirut Ibru for $473,657.00 also on April 21, 2009; 4141, bought for $441, 790 in the names of Cecilia Ibru on April 13, 2009; and 4143, also in her names, again on April 13, 2009, for $439,362.00. It may therefore not be an overstatement to say that she owns almost the entire stretch of Chariot Way.

Four others, bought in the names of Janet Ibru are on Upper Malboro. They are House Number 14605 on Hawley Lane, Upper Malboro, Maryland, which was bought for $399,990.00.00 on July 22, 2008 and the property on Number 14630 also on Hawley Lane, which was acquired for $460,703.00 on May 17, 2008.

The rest are House number 14721 on Argos Place, also in Upper Malboro, bought on October 28, 2008 for $457,950.00; 14719, again on Argos Place, bought for $451,840.00 on November 26, 2008 and the one one 11300 Dappled Grey Way, also on Upper Malboro, acquired by Cecilia Ibru on October 7, 2008 for $987,949.00

In Sanusi's words this woman deserves to be shot or better still her hands chopped off.

Something that she couldnt do when she worked 10+ years in the Uk, she comes home to do.
Ole fat faced winch

Means she is richer than her fellow thief Dangote. In any case, I support that she be shot or hanged. Not just her, but all other corrupt looters both in public and private enterprises.

Honestly, i am really tired of hearing these things. I am even more tired that NOTHING will be done about all these atrocities.
Is it not just a few weeks ago we heard that Ibori was absolved? What are we really to do? Should we trust the judicial system?

Epiphany:

Honestly, i am really tired of hearing these things. I am even more tired that NOTHING will be done about all these atrocities.
Is it not just a few weeks ago we heard that Ibori was absolved? What are we really to do? Should we trust the judicial system?

These are the kind of people armed robbers should go robb and chop off their hands not robbing poor people.

the judiciary is a fraud , last week chief judge sweared in another chief judge, judges of illegality. I wonder what is jusdiciary that has a chief judge position subject to legality

It definitely is a fat lie!
Typical of Sanusi and his EFCC cohorts to use the media to continue to hoodwink the ever gullible Nigerian public.

Same week they accuse Akingbola of siphoning funds of about 350 billion, they now accuse Ibru of trillions

If Cecilia Ibru siphoned all this money and was yet still able to pay the large cache of Oceanic workers, pay dividends to oceanic bank shareholders, build numerous new bank branches as well as meet up with depositor withdrawals, then we must admit that she had a warehouse somewhere where she engaged in printing and minting truckloads of Naira notes, Nonsense!!

Ibime, this article in the compass newspaper was not intended for folks like you. You are too smart for it. It was intended for the average Nairalander/ Nigerian who is by design, extremely gullible and swallows every headline hook line and sinker without the initiative to question inaccuracies.

Epiphany:

Honestly, i am really tired of hearing these things. I am even more tired that NOTHING will be done about all these atrocities.
Is it not just a few weeks ago we heard that Ibori was absolved? What are we really to do? Should we trust the judicial system?

The same people(EFCC & Judiciary) that absolved Ibori are the ones accusing Ibru of siphoning $7BN.
Ibori owns both the EFCC and the Judiciary!!

PapaBrowne:

It definitely is a fat lie!
Typical of Sanusi and his EFCC cohorts to use the media to continue to hoodwink the ever gullible Nigerian public.

Same week they accuse Akingbola of siphoning funds of about 350 billion, they now accuse Ibru of trillions

If Cecilia Ibru siphoned all this money and was yet still able to pay the large cache of Oceanic workers, pay dividends to oceanic bank shareholders, build numerous new bank branches as well as meet up with depositor withdrawals, then we must admit that she had a warehouse somewhere where she engaged in printing and minting truckloads of Naira notes, Nonsense!!

Ibime, this article in the compass newspaper was not intended for folks like you. You are too smart for it. It was intended for the average Nairalander/ Nigerian who is by design, extremely gullible and swallows every headline hook line and sinker without the initiative to question inaccuracies.

Thank God - common sense has not completely disappeared.

After 20 years as a bank CEO and making money for investors and shareholders, People are also surprised that Akingbola has assets of £11 million. Sometimes I tire for how my people dey reason.

Nah so Ribadu and EFCC talk day in day out for newspaper for Ibori case when judgement come, out 170 charges, they couldn't even provide 1 witness statement to back up their accusations.

, edit

Whats a lie the 7billion dollars or the stealing?

Its seems some of you have come to her defense so quick, esp the deltans. Im a yoruba and i could honestly say akingbola and bode george are thieves in one way or another. So whats different about Ibru, unless its the amount we are talking of?

If you are saying shes couldnt have taken 7bn dollars ok that would make some sense, but if you are saying she and ibori are innocent, you people are very silly.

and if thats the case obasanjo and IBB are not thieves either.

You are too quick to play the tribe card. All I am saying is that we should make sure there is genuine evidence and not the disgraceful submission that was made with the ibori case.

The fact that someone is in possession of large amounts of money is not a crime you need to prove that the money is the proceeds of crime or money laundering.

Convictions are made in the courtrooms and not the pages of the newspapers.

SapeleGuy:

You are too quick to play the tribe card. All I am saying is that we should make sure there is genuine evidence and not the disgraceful submission that was made with the ibori case.

The fact that someone is in possession of large amounts of money is not a crime you need to prove that the money is the proceeds of crime or money laundering.

Convictions are made in the courtrooms and not the pages of the newspapers.

Do you think obasanjo and ibb are thieves?

yes or no

Was she not a bank MD? She can't be poor but maybe not $billions rich

People forget the allegatiion here is she granted 70% of entire bank loans to herself and children.

That is enough crime to get her hands chopped off

For example, the properties in america are being linked on the basis of surname, you need to prove that she gave these other ibru's the money to buy the properties. If you can't do that then you have wasted everyones time.

Lagosboy:

People forget the allegatiion here is she granted 70% of entire bank loans to herself and children.

That is enough crime to get her hands chopped off  

Now tell me you believe this crap??

I thought the CBN published the list of bank debtors?? How come at that time it didn't appear like 70% of the loans were issued to herself?? What nonsense??

SapeleGuy:

For example, the properties in america are being linked on the basis of surname, you need to prove that she gave these other ibru's the money to buy the properties. If you can't do that then you have wasted everyones time.

Ok IBB/Obasanjo are not a thieves then since Nigerians cant prove they stole money or have done any illegal things in a court.

sjeezy8:

Ok IBB/Obasanjo are not a thieves then since Nigerians cant prove they stole money or have done any illegal things in a court.

Opinion on Nairaland or Newspapers can't convict anybody. If people are tried and convicted in a court, fine. Those are the norms of democracy, 'innocent until proven guilty'. The fact that people have not had the courage to go to court is a different matter.