EFCC detains top bank MD for reportedly helping to launder $115m for Diezani - Uju Ayalogu's Blog for News, Reviews, Articles and More

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Thursday, 28 April 2016

EFCC detains top bank MD for reportedly helping to launder $115m for Diezani

EFCC detains top bank MD for reportedly helping to launder $115m for Diezani

The Economic and Financial Crimes Commission, EFCC, has arrested and detained a Managing Director of one of the foremost Nigerian commercial banks for allegedly helping immediate past Petroleum Minister, Diezani Allison-Madueke to launder $115 million.
Vanguard reports that the bank executive was taken into EFCC custody three days ago for presiding over the receipt of such huge cash and helping to distribute it to beneficiaries, two days to the last general elections.

The suspect was accused of violating extant law by failing to report the receipt and warehousing of the cash to the Nigerian Financial Intelligence Unit, NFIU, as required by law.


According to the report, the ex oil minister was said to have summoned the bank chief to her Abuja home and told him to prepare to receive foreign currency running into billions of Naira from four companies and to convert it to Naira and pay them to designated beneficiaries on her behalf.

A breakdown of the funds given by the EFCC shows that Actus Integrated paid in $17,884, Northern Base Gas Company, $60m; Midwestern Oil and Gas, $9.5m; and Laitan Adesanya, $1.35million. Diezani on her part, allegedly lodged $26 million cash into the same account same day.

It was learnt that shortly after paying in the cash, Diezani’s son, Ugonna, approached the detained MD and furnished him with the list of beneficiaries.

Sources said the suspect made useful confessions to operatives.




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