Nomzib1000:

. I don't understand ooo, you Hit the hammer on the nail, A few weeks back we all saw bullion vans in his house and EFCC did nothing... Its like EFCC selects people they go after, it's shambolic

Esseite:


And what if the purpose of the monies to these companies were different and just regular businesses?

Esseite:
This is just media propaganda, he was obviously released because the accusation holds no water..

From the article above, it was not cash hauled but transactions made via the banks and a system is in place in all banks to report transactions above $10,000.

The monies were moved from institutions to institutions whom were aware and no trace of government funds from both ends, neither was it tagged fraudulent.

Dannyset:
No wonder this guy want to sell NNPC. Thank God for rejecting him.

Niorte:
EFCC has no shame at all. The way they started media trial of the CJN. Let them go to court and stop this unprofessional conduct.

By the way, Tinubu is yet to be investigated and prosecuted even after the MD of Alpha Beta released a strong damning report on the corruption of the company.

May God punish the leadership of EFCC and all those controlling them within and without. I hate unfairness and hypocrisy.

reality47:
What has happened to three bulloons van that convey money to bola hammed tinubu house at his burdillon resident. Is that not money laudering?. Where is the efcc?. Na wa oo

GoodMuyis:


It is stale stop using that line Media Trial
What should happen Freedom of Information if it was the Press that requested for it.

frowland:


Most of you seat down here and type rubbish. I don't care who is involved or what but you MUST understand that EFCC and NFIU do nt need banks to report before they are notified. Reason is, all bank platform are automatically connected to NFIU server. When you try to initiate a transaction of lets say for example 5.1m personal acc or 10.5 million company acc, it automatically navigate the teller or operator to NFIU platform and a form is filled even the customers BVN. This is how the agency is alerted. On the account that it is an offence or not is the reason they have to go to court.
But money laundering is a process of moving money around in different disguise until it appears to the final user as if the money is Legit. It has nothing to do with the amount, it has nothing to do with owner of the funds.

Esseite:
The Economic and Financial Crimes Commission (EFCC) has insisted that Vice President Atiku Abubakar’s son-in-law, Abdullahi Babalele’s, was arrested for money laundering.


Many had queried the timing of the arrest, which coincided with the start of the Peoples Democratic Party (PDP) candidate’s legal battle against President Muhammadu Buhari’s election.

The Nation reported on Wednesday that Babalele is under investigation for alleged laundering of €150million.


Babalele was released on bail on Tuesday after days of interrogation. His passport was, however seized by the EFCC.

But Mr. Uyi Giwa-Osagie (Atiku’s lawyer) is still in custody. The agency said about €67,950,000 of the €150m has been traced to the accounts of him, Babalele, two slush firms and two Bureau De Change operators.

Of the €67.9m, Uyi’s account received 26,050,00million Euro between January 9th and 28th, 2019. Babalele is expected to account for 41,900,000 Euro.


Meanwhile, the EFCC has released more details of transactions involving Osagie.

A document said: “On receipt of this intelligence the team booked to Lagos Island market and arrested two BDC operators namely: Abdullahi Shehu who works with Abdullahi Munaciki of Hasbunallahu BDC, Abuja and Lawal A. Abdullahi of Three Brother BDC.

“Also the team recovered the said $1.6million USD but already $141,000.00 USD had been exchanged to Naira at N358/ per dollar which amounted to N50,500,000.00 while the balance of $1,459.000.00 USD could not easily be exchanged due to the Naira scarcity in the market.


“Investigation conducted regarding the ownership as well as the source of the money so far revealed that Hasbunallahu BDC who is also the owner of Clean and Integrity Services Ltd received three transfers amounting to $5,000,000.00 USD on the 4th and 14th February, 2019 from Guernsey Trust Company Nigeria Limited which is an investment company that is being managed by Uyiekpan Giwa-Osagie in trust on behalf of Bleep.

”Investigation carried out on the accounts of Guernsey Trust Company Nig Ltd reveals that various transfers in millions of dollars and cash payments were made to various individuals and companies.”

The details of these transfers are as follows:

“On the 1st February, 2019, Abdullahi Munaciki of Hasbunallahu BDC received a transfer of $500,000 USD in his Guaranty Trust Bank Dollar Account Named: Clean & Integrity Services Ltd with Account number: 325/391103/2/1/0. The transfer came from Uyiekpan Giwa-Osagie of Guernsey Trust Company Nigeria Limited.

“On the 18th January, 2019, Root Capital Ltd received the sum of $1,000,000.00 into its account in Keystone Bank PPC from Guernsey Trust Company Nig Ltd account in Keystone Bank Plc. There after the naira equivalent was paid into Andrew Pitchford account by Spring Creek on behalf of Root Capital Ltd.

“On 4th February, 2019 another transfer in the sum of $1,500.000.00 USD was received into the said Clean & Integrity Services Ltd account in GTB from the same company Account Guernsey Trust company Nigeria Limited in keystone bank on Instruction of the said Uyiekpan Giwa-Osagie.

“The third transfer was made in bulk on 14th February, 2019 in the sum of $3,000,000.00 USD, similarly from Guernsey trust company Nigeria Limited in keystone bank to Clean & Integrity Services Ltd account in GTB.

“Painstaking investigation conducted on how the said Guernsey Trust Company Nigeria Ltd sourced the above mentioned $5,000,000.00 USD showed that the company received into its Keystone bank Euro Account number 1002523061 two Inflows of N13,050.000.00 Euro on 9th January, 2019 and N13.000,000.00 Euro on 28th January, 2019 totaling N26,050,000.00 Euro from one off-show company called Intels West Africa Limited.

“Further Investigation has shown that the said Euro inflows were converted to about $30,346,150.12 USD and transferred in tranches of $14,362.500.00 USD, $14,977,194.13 USD, and $1,000,000.00 USD to Guernsey Trust company Nigeria Limited’s Dollar Account number: 1003057653 to Keystone bank between 11th January and 12th February 2019.

“On the 18thJanuary, 2019 Guernsey Trust Company Nig Ltd paid the sum of $750,000.00 to Bluebeam Capital Ltd, the money was subsequently transferred to BLK Prestige Investment

“Also on the 29th January, 2019 Guernsey Trust Company Nig Ltd paid total sum of $2,065,934.00 to Capital filed Investment Group Ltd account in Keystone Bank Plc and the naira equivalent of the said amount in the sum of N856, 569,200.00 was paid in tranches to Andrew Pitchford Ltd account. The company is owned by one Mr. Erhunse Giwa Osagie, a brother to Mr. Uyiekpen Giwa Osagie.

“Furthermore on the 6th February, 2019, Guernsey Trust Company Nig Ltd paid Bluebeam Capital Ltd the sum of $1,000,000.00 the money was subsequently transferred to BLK Prestige Investment Ltd with UBA Zambia while the naira equivalent was paid into the account of Andrew Pitchford Ltd by Spring Creek Ltd on behalf of Bluebeam capital Ltd.

“Again on the 11th February 2019, Bluebeam Capital Ltd received the sum of $2,000,000.00 from Guernsey Trust Company Nig Ltd. On the instruction of Mr. Erhunse Giwa Osagie out of which the sum of $1,000,000.00 was transferred to account of BLK Prestige Investment Ltd United Bank for Africa in Zambia while the remaining $1,000,000.00 was converted into naira and paid into Sterling Bank Plc account of Andrew Pitchford Nig Ltd with account number 0689724732.”


http://dailypost.ng/2019/03/06/efcc-releases-bank-transactions-details-atikus-son-law-lawyers-arrest-emerge/amp/

RevenGeMission:
You people reason with your yansh even if you are the president banking transactions in usd has limits

Esseite:
This is just media propaganda, he was obviously released because the accusation holds no water..

From the article above, it was not cash hauled but transactions made via the banks and a system is in place in all banks to report transactions above $10,000.

The monies were moved from institutions to institutions whom were aware and no trace of government funds from both ends, neither was it tagged fraudulent.

Esseite:
This is just media propaganda, he was obviously released because the accusation holds no water..

From the article above, it was not cash hauled but transactions made via the banks and a system is in place in all banks to report transactions above $10,000.

The monies were moved from institutions to institutions whom were aware and no trace of government funds from both ends, neither was it tagged fraudulent.

mfm04622:


The crime here is trying to hide the purpose of the money! The money went through many accounts from Intels before getting to the BDC. In fact the owner of the BDC received the money in an account that is not owned by the BDC. Under no way laundry law, it is a crime to hide the owner or beneficiary of the money.

dominusgai:

My major problem with the APC government is hypocrisy. I know for a fact the APC government sold and is still selling government assets for peanuts. If they where not selling I would not argue with this. You find any top real estate agent and ask him.

mfm04622:


Oga, The money moved from account to account and it didn't reduce if increase? Well, the purpose of this arrest is so that they can explain. If EFCC is satisfied with their explanation, they they will be released and their won't be any charge!

adanny01:


Are you aware that EFCC has the responsibility of tracking and ascertaining exactly the business linking persons involved and purpose for such transfers?

Before i will send you $1million into your account, you have to have a legal service you will render to me.

Intels is said to be the source of part of the money, the question is what did Intels pay for that the sum keeps jumping from one account to another?

mfm04622:


Oga, The money moved from account to account and it didn't reduce if increase? Well, the purpose of this arrest is so that they can explain. If EFCC is satisfied with their explanation, they they will be released and their won't be any charge!

Kuginzi:

Pls don't argue blindly without facts just because you're a gullible die hard supporter of PDP.
Pls list 5assets APC government sold, and I will list 10 Assets sold by PDP

adanny01:


Are you aware that EFCC has the responsibility of tracking and ascertaining exactly the business linking persons involved and purpose for such transfers?

Before i will send you $1million into your account, you have to have a legal service you will render to me.

Intels is said to be the source of part of the money, the question is what did Intels pay for that the sum keeps jumping from one account to another?

If i send you $1million, you transfer whole or 90% of it to another and the other sends to another, do you expect EFCC to wait till the money gets to Boko Haram before they react?

Esseite:
This is just media propaganda, he was obviously released because the accusation holds no water..

From the article above, it was not cash hauled but transactions made via the banks and a system is in place in all banks to report transactions above $10,000.

The monies were moved from institutions to institutions whom were aware and no trace of government funds from both ends, neither was it tagged fraudulent.

focus7:


You need to do more being a legal expert on nairaland, why not apply to represent Atiku and pdp in court?

You know there no legal expert among the EFCC team.

docadams:
[s]This will shut up the Atiku's camp momentarily.[/s]

Esseite:
This is just media propaganda, he was obviously released because the accusation holds no water..

From the article above, it was not cash hauled but transactions made via the banks and a system is in place in all banks to report transactions above $10,000.

The monies were moved from institutions to institutions whom were aware and no trace of government funds from both ends, neither was it tagged fraudulent.

JubiOmeiza:


His passport seized though.
Atiku and his cohorts are
dreaded criminals.
we sane Nigerians reject dem
all. criminals

sonofElElyon:
Money laundering means the monies were originally proceeds of crime.. EFCC has not stated or proved this to be so. This is just media trial. Eventually they will fail to get a conviction.

(1) Where a transaction-
(a) involves a frequency which is unjustifiable or unreasonable;
(b) is surrounded by conditions of unusual or unjustified
complexity;
(c) appears to have no economic justification or lawful
objective;

reality47:
What has happened to three bulloons van that convey money to bola hammed tinubu house at his burdillon resident. Is that not money laudering?. Where is the efcc?. Na wa oo

Esseite:


Govt does not need to know your purpose of transaction except you are requesting foreign exchange from it directly.. when you buy a house worth N400m, do you tell govt?

Your case may suffice if there is an allegation (govt funds/terrorism) on any of its ends, but there is none.. then why tag it money laundry and try to defame the characters involved?

It went via the banks, through all govt checks, why tag it laundry when it could have been a silent investigation if need be?