JOSE Filomeno dos Santos, son of former Angolan President has been sentenced to five years in prison over embezzlement when he was head of the oil-rich nation’s Sovereign Wealth Fund.

The Angolan Supreme Court on Friday handed the sentence after he was found guilty of stealing up to $1.5 billion while managing the $5 billion fund between 2013 and 2018.

The 42-year-old was charged with stealing $500 million from the fund and transferring it to a Swiss bank account.

He is the first member of the former presidential family to be prosecuted as part of an anti-corruption campaign led by Angola’s current President, Joao Lourenço.

The presiding judge, Joao da Cruz Pitra in his ruling said, Dos Santos who is also known as “Zenu” used his influence to perpetuate the crime.

“For the crime of fraud… and for the crime of peddling influence… the legal cumulus condemns him to a single sentence of five years in prison,” he said.

There were three co-defendants involved in the case, who include the former governor of the national bank of Angola (BNA) Valter Filipe da Silva, who was also sentenced to between four and six years in prison for fraud, embezzlement and influence peddling.

However, they were acquitted of money-laundering charges, a charge they had previously denied.

In February, Angolan investigators froze the assets and bank accounts of Zenu’s billionaire half-sister Isabel dos Santos.

READ MORE: https://www.icirnigeria.org/angolan-presidents-son-prison-500-million-fraud/

Shehuyinka:
THE Office of the Chief Economic Adviser to the President (OCEAP) got approval for the sum of N573.45 million as capital allocations in the last five years without a clear identity of presidential appointee answerable to the fund’s utilisation, findings by The ICIR has shown.

From the above N573.45 million capital budgets, the Office of the Accountant General of the Federation (OAGF) under the Federal Ministry of Finance released a total sum of N114.97 million (N114,971,989) to the contentious office for its operations.

This literally excludes N12.1 million received by the OCEAP in the 2015 fiscal year.

But a document from the AGF, dated July 6, with reference number FD/OAGF/ADC/305/I/DF shows the OCEAP, in 2016, got a total release of N39.08 million from the N78.17 million capital budget approved for its operations.

In 2017, it received N35 million as its total budget releases from N60 million capital allocation for the year.

The following year, N60 million was also approved for the OCEAP while the accountant general’s office made available N24 million backed with cash.

In 2019, the unmanned office also received N16.89 million for its operations. The sum was the amount released from the N42.23 million capital budget for activities of the controversial office.

Though the office is yet to receive an allocation for the fiscal year 2020 as of July this year, yet, it got the highest approved capital allocation of N333.06 million in the past five years.

But for the global pandemic, indications have shown that the office would have received the annual release for the year 2020.

Nevertheless, despite these allocations and releases, the office is shrouded in secrecy.

The ICIR check shows that there is no clear government appointee managing the office.

Dr Adeyemi Dipeolu, the Special Adviser to the President on Economic Matters, Office of the Vice President whom the public assumes is the head of the office has vehemently denied any affinity with the OCEAP.

READ MORE: https://www.icirnigeria.org/non-existing-office-of-buharis-chief-economic-adviser-gets-n573-45m-in-five-years/

Buhari will still be shocked when confronted with this findings...
I fear who nor fear Nigeria public service and their agents...

Ok

Good for him

The Blackman is a special breed whose DNA still needs to be put under a microscope for years.

It is even an insult to the ape families to compare us to them.

There is something inherently wrong and shameful about us.

It doesn't matter where the black man originates from or presently calls home, whenever you see am or witness him behavior you must shake head.


#Blacklives matter

#Monkeylivesmatters too.

And abacha's son and other looters in nigeria are moving freely.

Lol, Angolans and their traditional Portuguese names. Such visible remnants of colonialism.