The Joint Senate Committee on Aviation and Anti-corruption investigating the disbursement of N500 billion power and aviation fund has revealed that the N35 billion loan collected by the Chairman of the defunct Air Nigeria, Jimoh Ibrahim, was diverted to Ghana.
The Federal Government in 2011 released N120 billion through the Central Bank of Nigeria to the aviation sector as intervention fund to rescue the sector from total collapse.
At the investigative ‎hearing by the Joint Senate Committee on Aviation and Anti-corruption on Monday, the Deputy Leader of House and also Vice Chairman of Aviation Committee, Senator Ibn Bala’ Nallah, disclosed that the fund allocated to Virgin Nigeria was diverted to another project in Ghana by Ibrahim, who is the CEO of Energy Group.
Confirming the diversion of funds incident, a former Director of Finance and Accounts of Air Nigeria, John Nnorom, said ‎Ibrahim worked with the United Bank for Africa on the project.
Nnorom explained that prior to getting the funds, Ibrahim brought in UBA as part of Directors of Air Nigeria.
He, however, said surprisingly, the very day the N35 billion hit the account of Air Nigeria domiciled with UBA, it was also paid out.
He said: “Distinguished senators, Mr. Jimoh Ibrahim and the United Bank for Africa know what they were doing with the missing N35 billion aviation intervention funds.”
The Minister of Transportation, Rotimi Amaechi, while responding to questions, revealed that though the fund was released in the name of Aviation, it did not pass through the Ministry of Aviation and there was no record anywhere to show the money was received by the Ministry.

Amaechi said: “Distinguished Committee Chairmen, members, my job here is to watch proceedings because I know nothing about about it and there is no record showing how the funds was disbursed.”
The Committee also queried the Central Bank of Nigeria for its inability to provide the record of N120 billion loan disbursed to rescue airlines in Nigeria as the Committee mandated th‎e apex bank to provide the record within 24 hours.
According to the Committee Chairman, Senator Hope Uzodinma: “We want the report of the disbursed fund with 24 hours.
“If you are not able to account for it, we will hold you responsible for the fund.‎”
The Committee also asked for the ‎criteria used to shortlist airlines that benefited from the aviation intervention.
Earlier, Uzodinma, in his welcome address, made a shocking revelation that most of the airlines that benefited from the N120 billion intervention fund have become moribund.
He said: “That is why it is a very disturbing development to learn of allegations that monies were not properly utilized for the stated objectives.
“These allegations are just absurd, but shocking.
“We are here to ascertain the veracity or otherwise of such allegations of misappropriation or diversion of the said funds.
“As is normally the rule in any investigation, we hold nobody guilty unless it is proven beyond all reasonable doubts that he or she is guilty.
“Curiously however, from the list of beneficiaries ‎of funds, some of the airlines have long folded up.”

https://www.today.ng/news/national/140390/jimoh-ibrahim-diverted-n35bn-aviation-intervention-fund-ghana-senate-cttee

It still pains me really hard that I have to share a state with that crook and nonentity called Jimoh Ibrahim. That man is a first class 419. His level of scamming is odoriferous

He bought EAS airline frm Cpt Idris Wada, less than a year after, he grounded and ruin it

He took over virgin airways, and ruin it a year after

He was given billions for intervention, he diverted it to Sao tome and Principe, and Ghana, and nobody in this country even bat any eyelid

I tire ooo. Thats the type of people Bubu should grab with immediate effect. Nicon, GNI, Air Nigeria........too numerous to mention.

Arrest the thief immediately...

That Jimoh is one of the professional looter parading as invertor and Business mogul reaping the Nigerian state off at the expense of the masses, yet he could not pay his workers.

Ole-Oloriburuku oshi.

I don't think there's any clean politician in Nigeria

Or is there?

But why are this folks always using our money to enrich other countries
Like Don't we deserve it or whAt

Pls my fellow nairalanders, I have been carrying out a research for a couple of weeks now and it seems the ibo tribe has the least amount of crimes attributed to them. This one is another northerner that has diverted funds again. Please take a look at fp and see how many easteners are bein questioned by efcc.

EFCC remove his manhood!!!

This is serious. Money that is meant for the rescue of a particular sector from total collapse. I don't know why some people derived joy in pursuing illegality.

He left Nigeria to establish his bank down here in Ghana.

Ok... now we know.

JimoH Ibrahim and Tony Elumelu must return our Yams

35bn naira kwa... in this zoo.

God will . punish thier generations to Generations..there will be no peace for looters. sickeness upon sickess shall locate thier families.

35bn naira when some people cant even eat three square mills... common.

Where God dey?... arise in your thunder and strike this people dead of they dont return our money.

let them Die, I mean let tem die, thier children die, thier children children die, aeroplane wey miss brake locate them when they are all gathered doing family party. they just av to die cos they av inflicted pains on Nigerian

It's a miracle how Nigeria has not gone bankrupt with the kind of money we hear everyday that people divert for their own use

One of the Ineffectual Buffon men.

Thieves everywhere.

skillet:
Pls my fellow nairalanders, I have been carrying out a research for a couple of weeks now and it seems the ibo tribe has the least amount of crimes attributed to them. This one is another northerner that has diverted funds again. Please take a look at fp and see how many easteners are bein questioned by efcc.

Jimoh Ibrahim is not a northerner, he's from Ondo state. And you're fooling yourself if you think that easterners are not just as corrupt as people from other parts of Nigeria.

This is xriouz....

I give up on Nigeria!

Why won't this country be broke?

Jimoh is a typical example of a corporate thief.

Such an amount moved out of the country without CBN battling an eyelid?

Who was the governor then?

GEJ regime na take as you like

skillet:
Pls my fellow nairalanders, I have been carrying out a research for a couple of weeks now and it seems the ibo tribe has the least amount of crimes attributed to them. This one is another northerner that has diverted funds again. Please take a look at fp and see how many easteners are bein questioned by efcc.

What is this nonentity saying?

ole buruku

.

AMCON TOOK OVER HIS HOTEL NICON LUXURY YESTERDAY, THAT MAN IS A BLOODY DEMON

Jimoh I hail thee

skillet:
Pls my fellow nairalanders, I have been carrying out a research for a couple of weeks now and it seems the ibo tribe has the least amount of crimes attributed to them. This one is another northerner that has diverted funds again. Please take a look at fp and see how many easteners are bein questioned by efcc.

I hope you get awards and honours for your research. It doesn't matter whether you're igbo, hausa or yoruba. Humans not tribes commit crimes.

edo3:
.

Dot com dot space booking

federal government released 120billion naira 5years ago..and it was never accounted for until now??