The Managing Director of Kakatar Construction and
Engineering Limited, Azibaola Robert are not involved in
any scam involving the diversion of monies meant to
settle insurance premium of sacked defunct Power
Holding Company of Nigeria (PHCN) workers, Mr Austin
Ekeinde, the company’s spokesman said.
He clarified the issue following allegations that Kakatar
CE Limited was part of an alleged diversion of
insurance premium payments of PHCN workers.
Mr Azibaola Robert is a cousin of the former President
Goodluck Jonathan.
According to report, a sworn affidavit for forfeiture order
filed at the High Court by an officer of the Economic
and Financial Crimes Commission (EFCC) claimed that
his company, Kakatar CE, partaked in illegal payments
of PHCN workers which the company disputed.
Mr Ekeinde while speaking with reporters in Abuja said
that ‘An affidavit issued to him by an EFCC officer for a
forfeiture order clearly misinterpreted the facts. The
obvious fact is that Kakatar CE took a N2.5 billion
facility from Bestworth Insurance Brokers Limited to
fund a Federal Government contract we won to provide
infrastructure for Kyami District, Abuja.
He said that it was on due to the fact of documentary
evidence the EFCC requested that the facility be repaid
to it to enable it recoup the payment to Bestworth. It
was due to the fact that we commenced repayment
through the EFFC to Besthworth. This does not relate
to the issue of scam or fraud in this matter.
Kakatar CE on December 12, 2014 won a contract to
provide engineering infrastructure for Kyami District
which we were required to move to site to commence
work immediately.
We were unable to secure a favourable credit facility
from any bank, we were offered help by Bestworth
Insurance to provide us a project execution facility with
mutually agreed terms upon which we moved to site
immediately. It’s quite unfortunate that the Federal
Government has been unable to pay it’s statutory
mobilization fee of over N7.5 billion due to Kakatar CE.
Sometime last year, EFCC informed us that they are
investigating Bestworth for alleged diversion of
insurance premiums of PHCN workers, they also invited
us.
That was when our N2.5 billion facility became an
issue. There is not a law that says a corporate
organization cannot take a facility from another
corporate organization.
Because of the documentary evidence which the EFCC
requested that the facility be repaid to it to enable it
reclaim the payment to Bestworth, this does not have
anything to do with the scm or fraud in that case.

source: journalng.com

https://journalng.com/2018/01/04/phcn-scam-jonathans-cousin-not-part-n27-billion-scam-engineering-firm/