So he was a lecturer with a first degree? What a shame! No wonder our varsities are glorified primary schools

Alleged N166m debt: Why NDIC topshots blackmailed Okiro

• How Ogunleye, Fortune Bank interim managers swindled depositors of N7 billion • The unpublished investigation report

By BEN OBI JR.

TRUTH is the daughter of time. No matter the stringent attempt to bend the truth, the five-letter word will eventually stand erect.

National Daily investigation has revealed the real reason why some Senior Staff of Nigeria Deposit Insurance Corporation (NDIC) embarked on a desperate mission to blackmail the immediate past Inspector-General of Police, Sir Mike Mbama Okiro over an alleged N166million debt.

The NDIC Senior Staff, sources said, were prompted by the self-serving desire to raise unsubstantiated allegation against the immediate past IGP so as to avenge his role in exposing their fraudulent activities in the NDIC particularly in the case of swindling unsuspecting depositors of the failed Fortune International Bank Plc to the tune of about N7 billion.

Specifically, the names of the senior staff of the NDIC allegedly involved in the blackmail antics were given as Ganiyu Ogunleye (the Managing Director of the NDIC), Professor Peter Umoh (Executive Director), Dr. Joe Emerson, Innocent Ilozumba, Adedapo Agboola and Pius Obeleke.

These identified culprits were at the time of media report of Okiro's alleged indebtedness facing trials before an Abuja High Court Judge for alleged offence of false information, Criminal misappropriation and stealing.
National Daily sources disclosed that The NDIC MD Ogunleye and his colleagues believed that by spreading unsubstantiated allegation against Okiro they will wriggle out of their criminal case before the court especially now that Okiro has retired from the force.

“You know, the accused persons were excited that Okiro was leaving the Force because the IGP had recommended their trial for duping helpless failed bank depositors of some billions of naira. Their calculation was to raise the bogey allegation at the time the IGP will be pre-occupied with the nitty-gritty of his retirement formalities” said an informed source, adding that:

“The desperadoes were chasing their own shadows because Sir Mike Okiro has nothing to hide. He has adequately responded to the major issues in their allegation explaining that it was his wife not himself who transacted business with Agip. But she was not in any way indebted to the oil company.”
Ogunleye and his colleagues at NDIC were suspected to be the source of the media stories accusing Okiro of contributing to the insolvency of the Lead Bank Limited by failing to repay the loan of N166 million obtained from the bank between 2000 and 2001.

However, Okiro in his response said it was his wife's company, Hekiro, who got the loan from the bank to finance a contract awarded to the company by Agip. He dismissed the NDIC's allegation as unfounded and claimed instead that it was the bank that owed his wife's company because Agip, the awardee of the contract on which the loan was spent had paid $2.5 million into Lead Bank's account with the National Bank.
Informed sources explained that a contract of $4million was awarded to Okiro's wife, a former banker, who collected a loan of N100 million from Lead Bank to finance the project.

The sources further said that part of the conditions for granting the loan was that the contract sum would be paid by AGIP directly into a Lead Bank account from where the loan and accrued interest would first be deducted before Hekiro would get the difference. AGIP was to pay in the money based on the assessment of the job “until they (Lead Bank) had problems and were subsequently suspended by the Central Bank of Nigeria (CBN) under Prof Chukwuma Soludo's leadership, from engaging in any forex activities, because then it was obvious they were going into liquidation,

As a way to secure ongoing foreign exchange based transactions they (Lead Bank) decided to open a dollar account with National Bank.”
It was gathered from a source within the NDIC that AGIP had “started to pay money into the National Bank account opened by Lead Bank without the knowledge of Okiro's wife.”

It took Okiro's wife's private investigation to discover that an account was opened in National Bank by Lead Bank for her contract and by the time she knew about this $2.5 million had been paid into the account. This was also confirmed from the AGIP accounts department. By this time, it was learnt, Okiro's wife's company had closed business because it had invested its funds in the contract and therefore could not continue its business activities.
Our sources said since Lead Bank was liquidated Okiro's wife approached NDIC to pay her the balance of her money.

However, NDIC claimed in its allegation that out of the N166 million loan collected by Okiro, the wife paid N5million in April 2009 after so many reminding letters.
But Okiro debunked this assertion by the NDIC Managing Director, Ganiyu Ogunleye and challenged him to make public any document he (Okiro) signed on behalf of the company as a Director to prove the allegation that he forged a signature of his wife or anybody.

The out-going IGP showed reporters a document containing the list of debtors or borrowers from the failed banks which had been compiled and forwarded to the Senate Committee on Banking, Insurance and other Financial Institutions on June 27 last year.

Okiro said neither the names of his wife, his wife's company nor himself was on the list as a debtor or a borrower, alleging that the allegation by NDIC was an after-thought.
Inside sources told National Daily that Okiro is unruffled by the allegation saying he is prepared to defend himself wherever he is called upon.
National Daily learned that Ogunleye and his colleagues are still sweating to extricate themselves from the criminal charges pending at an Abuja High court.

Their imminent road to jail and apparent contempt for Okiro began sometime in March 2009 when the Senate Committee on Banking, Insurance and other Financial Institutions requested the Inspector General of Police through a letter dated February 2, 2009 for “Assistance on public/investigative Hearing on the agonies of depositors of Failed Banks and Financial Institutions” particularly the case of Fortune International Bank Plc and Suffolk petroleum.

The letter was signed by the committee chairman, Senator Nkechi Nwaogu.
The IGP was mandated to investigate the circumstances surrounding the $30millin (N4.5 billion) recovered by EFCC on behalf of Fortune Bank and Suffolk petroleum. The committee further requested the IGP to investigate the whereabouts of N1.5billion naira recovered by the NDIC/interim managers on behalf of Fortune Bank. The amount was the sum total of loan and accrued interest granted Nassarawa State government by the defunct Fortune Bank on the Karu International Market.

Okiro responded to the request and promptly directed the Special Investigative Unit of the Force to conduct detailed investigation into the matter.
He submitted his report in a letter to the Senate Committee dated June 2, 2009.

Details of the report signed by Sir Mike Mbama Okiro disclosed that two interim Managers of Fortune Bank, Dr. Joe Emeson and Innocent Ilozumba fled their homes and offices to evade the investigative police team.
However, they were later arrested and during a search carried out on the order of the Court, the investigative team recovered some documents that were vital to the matter being investigated.

Some of the recovered documents included funds with Fidelity Bank Plc, documents on the $30 million recovered by EFCC in respect of Fortune Bank and the Suffolk Petroleum, other document on Agency agreement on rents accrued from Fortune Towers.

The Police report stated that investigation was carried out at the office of NDIC, the supervisory institution. Two interim managers, the Managing Director, Ganiyu Ogunleye and the Executive Director, Professor Peter Umolu were invited and questioned in connection with the matter officials of Fidelity Bank who took both funds of $30 million and N1,058 billion as deposits were also invited and interrogated.

The investigation according to the report was extended to Fortune Towers, the magnificent building of the defunct bank on yearly lease of N120 million since 2006. The two interim managers of Fortune Bank failed to account for over three years of rents of about N360 million that accrued on the edifice.

The police report noted that one of the remarkable issues in its discovery was the purported waiver of N500 million naira granted Nasarawa State by the NDIC over Karu market project.

“From the Examination of relevant documents the initial claim of Fortune Bank against the State government was N2.5 billion naira. This amount was reduced to N1.5 billion after due reconciliation of the account by both parties. Due to unexplainable reasons, NDIC decided to waive the sum of N500 million in favour of the State government despite protest from the interim managers of Fortune Bank the report stated, adding that:

“The claim of NDIC of having obtained ministerial approval for their action was found to be untenable as documents recovered have shown that the waiver had taken place before the approval was sought as a cover up. The management of NDIC under Ganiyu Ogunleye failed to adduce any cogent reason why the fund should be waived under such circumstances while the innocent depositors wallowed in poverty.”

The then IGP as part of the efforts to recover the misplaced funds obtained court orders which directed that the Karu market fund of N1.058 billion lodged with Fidelity Bank should be terminated immediately and document conveying the amount forwarded to the police.

The Police investigators summarised its finding by stating that Fortune International Bank was one of the banks that failed to meet the N25 billion naira consolidation target of the Central Bank of Nigeria (CBN) in 2006 and was therefore liquidated. Interim management committee was set up for the defunct bank under the direct supervision of NDIC.

In order to harness both the liquid and physical assets of the bank, Fortune Bank liquidated accounts were opened with the CBN where all monies that accrued to the bank were supposed to be deposited.
However, “instead of paying the recovered funds to the designated account, the interim managers in collision with NDIC decided to take the monies to Fidelity Bank under the guise of investing the funds with the said bank. Police investigation revealed that both the $30 million recovered from Shell Petroleum and the N1.058 billion from Nasarawa State government were lodged with Fidelity.”

The police investigators noted that “the $30 million recovered from Shell due to Suffolk petroleum indebtedness to Fortune Bank was ridiculously paid into the account of Suffolk with Fidelity Bank and withdrawn under the watchful eyes of EFCC and NDIC. Fortune Bank the rightful owner of the fund was by-passed.”

It was further discovered that “the sum of N1.058 billion recovered from Nasarawa State government was lodged with the same Fidelity Bank under a ridiculous low interest rate and the managers drawing monthly brokerages to be shared among the interim members of the (management) committee and officials of NDIC.”

The police report stated that the N500 million naira waiver granted by NDIC was effected before the so-called ministerial consent was sought. Police investigation was extended to the Federal Ministry of Finance to ascertain whether or not the minister can approve a waiver of that magnitude without recourse to the Federal Executive Council.

In conclusion, the Police investigators submitted that “It is glaring from the investigation conducted that there were criminal infractions committed in the running of the affairs of Fortune Bank in liquidation. Instead of performing their statutory duties the officials of both institutions (NDIC/Fortune Bank Interim managers) decided to enrich themselves to the detriment of the actual depositors whose fund has been trapped since 2006”
The investigators continued in their submission:

“The MD of NDIC, Ganiyu Ogunleye, the Executive Director, Professor Peter Umoh and four others have been arraigned before the FCT High Court on a seven-count court charges of conspiracy, criminal misappropriation and giving false information with intent to misleading public servant. The case has been adjourned to 22/06/2009 for hearing…”

The evidence at the disposal of National Daily suggests that Sir Mike Okiro's accusers may be motivated by the quest for self-preservation and vengeance. Ganiyu Ogunleye and his co-travellers could be on a wild goose chase which eventually may see them embracing the iron cast gate of one of the nation's squalid prisons.
(Related Documents and full investigation report to the Senate Committee are available on our website www.nationaldailyngr.com).

Igbo people sef, when it suits them Okiro is Igbo when it does not suit them Okiro is not Igbo. Or are they trying to differentiate between Igbo and south east? Because the  Okiro I know is a proper Igbo man, although from the south south. So far, three of the last IGs have been proven to have sticky fingers with money. Okiro borrowed millions of money from bank and did not pay, therefore contributing to the colapse of the said bank. He also impersonated during the whole process.

Man, 42, sends assasins after wife for threatening divorce
From NOAH EBIJE, Kaduna
Thursday, July 23, 2009

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For fear that his wealthy wife may divorce him and get hooked to another man, a 42-year-old man has sent hired assassins after the wife. Although, the hired killers got the wife, they only shot her, and the woman is alive today to tell her own side of the story.

Parading the suspects before newsmen in his office, the Kaduna State Police Commissioner, Mohammed Tambai Yabo, said one Rotimi Adesina was arrested at the Nigerian National Petroleum Company (NNPC) staff quarters on July 7, 2009 in the afternoon for attempted murder of his wife, Mrs. Bola Adesina.

Speaking to Daily Sun, in the police Commissioner’s office, Adesina said he was in Lafia, Nassarawa State, for a contract job when he started receiving text messages from his wife that she was no longer interested in their marriage since she was the bread winner of the house.
Bola who was still receiving treatment at the NNPC staff clinic, as at the time of filing this report, following the injuries sustained from the gunshot, was said to be responding to treatment, and as such could not grant any press interview.
Bola who is believed to be in her late 40s is a senior staff at the NNPC, while her irate husband is a petty business contractor, who deals in sachet water and mobile telephone recharge cards. He claimed to be a graduate of Business Administration from Lagos State Polytechnic, Isolo, in 1996.

Daily Sun gathered that few weeks to the incident, Bola had given her husband the sum of N500, 000 to support his job in Nassarawa State .
Both husband and wife, had married for three years in a church in Kaduna without a child. That was after Bola had lost her first husband in a motor accident and Adesina had also lost his first wife in a sleep after given him two kids from the marriage.

Adesina said that in addition to provocative text messages he received from his wife, he was also not comfortable with the number of men that were visiting his wife in the house who according to him, the wife claimed were her colleagues in the office.
He confessed to have engaged the services of one Solomon Moses from Lafia to help him kill his wife because, “she is no longer respecting me, and she is also misbehaving.”

The alleged hired assassin, Moses, 28, told Daily Sun that he was deceived to Kaduna by Adesina to just accompany him to visit his (Adesina) family. He said that as a carpenter he was working for Adesina in Lafia for a fixed amount.
He added that on reaching Kaduna, Adesina lodged him in a hotel. He later took him to his house at the NNPC staff quarters where he allegedly gave him a gun loaded with two bullets to kill his wife as soon as she entered the house.

Moses said he was afraid on sighting the gun and wanted to shout but that Adeshina prevented him from shouting. He alleged that he was locked up in the house while he, (Adesina) took cover nearby to watch how his wife would be shot dead.

The innocent looking Moses confessed that he fired at the woman as soon as she entered the house. He said he couldn’t fire the second shot because the gun fell off his hand. He added that he couldn’t say exactly which part of the woman’s body he aimed the gun at.
However, sources at the NNPC staff clinic said the bullet pierced the upper skin of Bola’s stomach. The sources added that she has been barred by the Corporate Affairs Department of the NNPC from talking to the press.

The husband’s account: “My name is Rotimi Adesina. Police arrested me because I wanted to kill my wife. I wanted to kill my wife because she has been threatening my life saying that she is the only one who has been taking care of me. That she will divorce me, and because of that I was annoyed and carried gun to shoot her.
“We are married for three years now, no child yet. But it is not because of this that I wanted to kill her. I wanted to kill her out of provocation since she said she will divorce me to marry another man. Telling me that why should I abandon her in Kaduna, while I remain in Lafia.

“She normally sent different text messages to me that she can no longer bear it since I cannot come back from Lafia.
“And when I decided to come back, she said, no, I should not come back again because I am not contributing to any thing in her life, and that she is the only person that is taking care of the house.

“The boy I brought from Lafia to help me kill my wife is a carpenter. I just asked him to follow me to Kaduna and on reaching my house in Kaduna, I told him what I wanted him to help me to do and that he should co-operate with me, so that is how I involved him in this case.
“But I didn’t tell him from Lafia that I was going to kill my wife. I only told him when we arrived Kaduna. The gun I gave him. I got it at a spot in Kaduna during the Sharia crisis. But I have never used it until now. I regret every of my actions in this case.”

Moses Solomon gave his own account: “I am a carpenter based in Lafia but my state of origin is Plateau State. Adesina met me in Lafia and he used to give me jobs to fix nets to windows.
“Few weeks ago, Adesina told me that I should follow him to Kaduna to visit his family and that he will pay for my transport. On reaching Kaduna, we went to his house and he said his wife is not around.
“So he now told me that I should escort him to somewhere, and he eventually took me to one hotel which I never knew.
“Adesina discussed with the owner of the hotel and he gave him a key to one of the rooms. Then he gave me the key and one paper that I should keep them with me.
“On getting back to the house, he opened the gate and locked it behind us. He opened the inner door and I entered, then he locked the door, he entered the kitchen and came out with the gun.
“I was afraid on seeing the gun and I asked him what he wanted to do with the gun. He said I should keep quiet, that he wanted to kill his wife because she used to follow other men.

“So Rotimi gave me the gun and showed me where to press, and that I should stay near the bedroom so that if the wife is entering the house I should shoot her.
“I didn’t know anything about this thing, and the gun that he gave me had only two bullets inside. I don’t know where Rotimi hid, then the wife entered and I shot at her I don’t know which part of her body I even arrived at, and the gun fell down with the remaining bullet.

“All of a sudden Rotimi opened the back door for me to run. On my way out, two men grabbed me and started beating me. They carried me to the clinic and showed me to the wife to identify me, and she said, yes, I am the person who shot her.

“Rotimi never promised me any money, and when I asked him why he wanted to kill his wife, he said I should shut up.
“I want the woman to know that it was not my own fault, it was her husband’s fault. I want her to forget and forgive me.”

Okonjo-Iweala: Obi, Most Fiscally Responsible Governor
07.21.2009

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Managing Director of World Bank, Dr. Ngozi Okonjo-Iweala, has described Governor Peter Obi of Anambra State as the most fiscally responsible governor in Nigeria.
This feat, she said, had enabled Obi to use public fund for public good ''which informs why there is need for Anambra people to rally round him so that the state can achieve its development objective''.
Okonjo-Iweala, who spoke at the weekend in Awka, the Anambra State capital, emphasised that “Obi is the most fiscally responsible governor in Nigeria. I discovered him when I was the Finance Minister. Then, my policy is that those who are fiscally responsible I would work with them.
''He is doing well, but people must be behind him. This is a state where there are so many industrialists and traders who are all over the world. So, all eyes are on you."
The World Bank MD, who delivered a keynote address entitled: “Anambra and the Role of Women” to mark this year’s Mothers’ Summit, the third in the series and preparatory to the yearly women August meeting, said she would continue to honour any invitation extended to her by the state government.
While describing Anambra people as hardworking who could survive without government, the former minister also charged women to work hard in order to achieve more.
"The message is come together, work together for the good of the state and the good of Nigeria,” she said.
Also speaking on the occasion, Obi announced that the state government had secured N100 million Faith Based Micro Credit to empower the women groups in the state.
According to him, everybody has the responsibility to make the state progress and not leaving everything to government.
He described women as the rock of the family system, saying “when there is a good family there will be a good society. There is a problem in our society and all should join hands to repair it.”
In her address, the state Commissioner for Women Affairs, Dr. (Mrs.) Ego Uzoezie, said Mothers’ Summit is the highest consultative interface between the state government and women leaders at the grass roots.
Uzoezie said: “Never in the history of the state have the hitherto vulnerable groups of women, children and the physically challenged persons been given an unhindered voice as in the Peter Obi administration. It was in furtherance of the inclusiveness’ philosophy of Anambra Integrated Development Strategy (ANIDS).
“We intend to strengthen the organizational frame work.”

Atlas Cove: MEND dares OPC, YCE
From FEMI FOLARANMI, Yenagoa
Wednesday, July 22, 2009
Militants
•Photo: The Sun Publishing
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The Movement for the Emancipation of the Niger Delta (MEND) has slammed the Yoruba Council of Elders (YCE) over the comments it made on the attack on the Atlas Cove Jetty in Lagos.
The YCE after a meeting had criticized the attack, disclosing that it was scheduling a meeting with President Umaru Yar’Adua to discuss the latest development, which it said was an invitation to inter-tribal war.

MEND spokesman, Jomo Gbomo in an interview with Daily Sun said rather than criticize MEND for its action; the YCE should be apologizing to the militant organization and the Niger Delta over the actions of former President Olusegun Obasanjo in the region.

MEND stated that the Niger Delta problem might have started in oil rich region but since it was sired by injustice it knew boundaries.
It dismissed that its action could lead to a tribal war except there was a plan to start a war before the MEND action.

His words: “The YCE should be the ones apologizing to us after their son; Olusegun Obasanjo wiped out Odi with innocent civilians and stole our commonwealth as the Minister of Petroleum. They should apologize that while we do not have bridges to cross to our communities, the system has robbed Peter to pay Paul with bridges in their sacred region. The Niger Delta issue may have started in the Niger Delta, but the problem caused by injustice knows no boundaries. It is a Nigerian problem that should be enjoyed or suffered by all. Some say they are sympathetic with the struggle. While that could be true, it is only those that make sacrifices with us that are the genuine sympathizers.”

Gbomo described the comments of the Odua Peoples Congress (OPC) as ranting, noting that the MEND attack in Lagos was to reinforce its declaration that Nigeria’s oil installation would not find refuge anywhere.
“It seems some people just enjoy ranting. Is the OPC threatening to attack any Niger Deltan or a particular state or tribe there? We have the Itsekirs, Isokos, Urhobos, Ijaws, Ibibios, Igbos, Efiks, so who do they plan on attacking first?

Do they plan on attacking pipelines and oil companies and making our job easier or plan to destroy non-existent infrastructure? We just believe they are making a mountain out of a mole hill. We have made it clear that the oil industry will not find refuge anywhere in Nigeria as long as they are contributing to the injustice in the Delta and therefore anyone that shelters them should not expect the conflict not to come to them. We will however, focus on the oil industry and not on any other structures except in a full scale war scenario,” he said.

On the call by Cardinal Olubunmi Okogie that militants should not be paid, MEND said it supported the move as it would expose those who were in the struggle for monetary gains and those who were genuinely concerned about the problem of the Niger Delta, stressing, however, that it could backfire as criminals with guns could return it to collect money and buy new ones.

“The Archbishop may have his reasons. There are opponents and proponents to this offer. The money offer can separate those who have a vision and those who are in it for the short-term gain. This is helpful to us because there would have been no other way of finding out the committed fighters. The drawback here is that many fake militants who are criminals can now offer the weapons they have for cash and then buy new ones. It is a complex situation which only true federalism can solve,” he added.

Is Maryam Babangida ill again?
07.18.2009
Saturday, July 18, 2009

Her record as Nigeria's most colourful first lady to date is yet to be assailed. It is still pretty fresh in our memories how Maryam, the dark-skinned beautiful wife of Nigeria's military president, Ibrahim Badamasi Babangida took the role of First Ladyship beyond the shadow of the number one man. With a combination of panache, visibility where it mattered and a well-oiled publicity blitzkrieg, Maryam shone like porcelain in the sun. But beyond the beauty and glamour and the razzmatazz of her office, Maryam had a humane and compassionate side to her. In spite of her aristocratic posturing, she was not blinded to the sufferings of rural women. Thus, she established the Better Life for Rural Women programme which endeared her immensely to the generality of womenfolk across every stratum of the society. This ensured that she was courted by the high and mighty and adored by women with no visible halo.

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Despite IBB's 1993 historic 'Stepping aside', Maryam kept up her high profile lifestyle which was very well oiled by her husband's financial arsenal stockpiled over an eight-year period. However, in the last couple of years, Maryam, from Delta State, has remained only a blip on the social radar, no thanks to what some sources said is an age-long battle with cancer. Though there were reports that the ebony-hued beauty had been permanently cured after a visit to hospital in Paris, France, the news filtering out of the Babangidas' Hilltop mansion in Minna, Niger State is that the matriarch might have been flown out of the country yet again. Those who hold strong to this belief insist that Maryam has been less visible in Minna where she has a looming presence. Thus, her absence, they insist, might be due to a relapse in her ailment.

As mentioned by the senate, this woman was among the Nigerians who caused the failed banks and made people lose billions. Now she is being rewarded by an Oba. These people eh!