Date Published: 12/01/10

N3 Billion NDDC Offshore Account Scandal: Forged Documents used by MD revealed
…How in fighting forced board to return N90 Billion as unspent, while Delta Suffers

Pointblanknews.com is in possession of forged documents used by the suspended Managing Director of the Niger Delta Development Commission (NDDC), Chibuzor Ugwoha, to illegally transfer $20 million (N3 Billion), from the commission’s offshore account in Union Bank (UK) Ltd, to First Bank (UK) Ltd . The accounts was secretly opened by him and two directors.

advertisement


The trio of Ugwoha, Director of Legal Services, Harrison Onwon, and the Acting Director, Finance and Supply, Egbejule Jimoh Oma, were recently suspended for their roles in the illicit opening of the First Bank account and transfer of N3 Billion under shady circumstances. A balance of $50 Million was however left in the Union Bank account.

It was also learnt that of the N128 Billion received by NDDC in 2009, over N90 Billion was returned to the Federal Government coffers as “unspent”, when the top shots could not reach an agreement as how to share the cash into private and dodgy accounts. While they fought over sharing and which private accounts NDDC cash should be lodged, the region and its people suffered. Our source hinted that until the trio was fired, close to N110 could have been returned due to in fighting.

Desperate to move the whooping sum, the MD coerced the Director Legal services into signing the mandate sent to First Bank at Finsbury Circus in London. The MD also forged a Board resolution dated September 15, 2010, even though the last board meeting was in July 2010, before the latest one held between November 24 and 25. According to the Director Legal services, his signature on the resolution was forged , while he was forced by the MD to sign the mandate sent to First Bank in London.

The mandate falsely claimed that the MD and Egbejule Jimoh Oma were the new signatories, aware of the fact that the Executive Director, Finance and Supply, Power Ziakede Aginighan, who is a regular signatory, was away on sick leave.

When the dirt hit the fan, the Presidency summoned chairman, AVM Larry Koinyan( Rtd), to explain his negligence, and how Ugwoha could carry out such illegal act without his knowledge. It was learnt that President Goodluck Jonathan was so upset that he refused audience with Koinyan.

The Board sent a report to the office of the Secretary to Government, Ahmed Yayale, where the MD is well connected. He tried to kill the report but failed. He was eventually suspended because President Goodluck Jonathan was already aware.

http://www.pointblanknews.com/News/os4262.html

cont---

cont--

We have said it.

Niger Delta does not need amnesty, neither does it need NDDC, these are all avenues for stealing.

Just open up our airports
Just open up our seaports
Just open up Tinapa
Just open up our free trade zones.
Just clean up the environmental damage

These are just some of the things a president who cares can solve with the stroke of a pen.

SapeleGuy:

We have said it.

Niger Delta does not need amnesty, neither does it need NDDC, these are all avenues for stealing.

Just open up our airports
Just open up our seaports
Just open up Tinapa
Just open up our free trade zones.
Just clean up the environmental damage

These are just some of the things a president who cares can solve with the stroke of a pen.

Gbam!