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Rivers State Begins Prosecution Of Amaechi Over $50m Fraud

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Rotimi Amaechi

Former Minister of Transportation, Rotimi Amaechi is in more trouble as the Rivers State government has finally slammed a nine-count charge of stealing, cheating and conspiracy on him.
In a suit marked PHC/CR/2022, filed on the 7th of June, the Nyesom Wike led Rivers State also listed the Governorship candidate of the All Progressive Congress (APC), Tonye Cole, Sir Augustine Wokocha, Dr Chamberlin Peterside, Sahara Energy Resources Limited, NG Power-HPS Limited and Cenpropsaroten Hotel Management as the former governor’s co-defendants.
According to the statement in the charge sheet signed by C.F. Amadi, the Director of Public Prosecution for the Attorney-General of Rivers State, in count one, the state said Amaechi and his co-defendants “sometime between 2011 and 2012 at Port Harcourt within the Port Harcourt Division of the High Court of Rivers State did conspire among yourselves to commit felony to stealing the sum of $274,563,599.59USD”.
The document said the money was a proceed from the sale of 70% equity held by the Rivers State Government in the power generation asset at Omoku Gas Turbine, Eleme Gas Turbine and Afam Gas Turbine Phase 1to NG Power-HPS Limited.
In Count two, the state alleged that Amaechi and his co-defendants within the same period “stole the same amount of money being proceeds from the sale of 70% equity belonging to her in the power generation assets at Omoku, Trans-Amadi, Eleme and Afam Gas turbines.
The state in count three said Sahara Resources Limited, NG Powers-HPS Limited within the same period with intent to cheat agreed to purchase from Rivers State Government 70% equity held by the state in the power generation assets in the four turbines in the sum of $302,960,000USD.
The state said the companies actually took possession, management and control of the said power generation assets upon payment of the initial sum of $274,563,599.59USD, but refused to pay the outstanding balance of $28,400,000USD due to the state.
In the count four, the state alleged that Amaechi and his co-defendants within 2011 and 2012 conspired by fraudulent means to affect the market price of the four power generation assets of Rivers State.
She said the defendants offered the assets for sale exclusively to Sahara Energy Resources Limited, NG Power-HPS Limited (subsidiary of Sahara Energy Resources Limited) and Tonye Cole (Director) instead of by means of open competitive bidding prescribed under section 52 (3) of Rivers State public procurement law number 4 of 2008.
The state further in count five alleged that Amaechi, Sahara Energy, Cenpropsaroten Hotel Management and Cole within the same period “did conspired by fraudulent means to affect the market price of Olympia Hotel, Port Harcourt by offering the said Olympia Hotel, Port Harcourt for concession exclusively to Sahara Energy Resources Limited and Cenpropsaroten Hotel Management (subsidiary of Sahara Energy Resources Limited) and Tonye Cole (Director) instead of by means of open competitive bidding prescribed under section 60 (1) of Rivers State Public Private Participation in Infrastructure Development Law number 5 of 2009.
Rivers also in count six accused Amaechi, Sahara Energy, Cenpropsaroten Hotel Management and Cole of conspired among themselves to commit felony by stealing $1million being concession fee the defending companies paid to Rivers State Government for the concession of Olympia Hotel for a period of 40 years.
The state in count eight alleged that Amaechi and Sahara Energy about December 1, 2014 conspired among themselves to commit felony by stealing the sum of $53,095,602.05USD from Rivers State USD account number 006489429 with Access Bank, Bank road Branch, Port Harcourt.
The offence were said to be contrary to section 421, 422, 516A and 383 of the Criminal Code Law, Law of Rivers State of Nigeria, 1999.

 

Credit: The Street Journal

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From Boardroom To Politics, Ex-First Bank Boss Eyes Oyo Governor’s Seat

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Adesola Adeduntan, the erstwhile Managing Director of First Bank has been named as one of the would-be successors of the Governor of Oyo State, Seyi Makinde come 2027.

 

The banker who was allegedly eased out of banking for some undisclosed misdemeanors is claimed to have began consultations as he charts a new path in politics.

 

Sources hinted that Adeduntan had been interested in an elective position but his participation was measured because of his banking career. But now, the coast is clear and he is already aligning himself with some stakeholders ahead of 2027.

 

A list of names including Ilaji boss, Dotun Sanusi, Taofeek Arapaja, Stanley Olajide and many more has features as interested minds gunning for the number one seat in Oyo, a list Adeduntan has recently joined.

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Ex First Bank Boss, Afonja Dies In Auto Crash

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-Femi Bamgbose

 

Details have emerged on Monday, 20th May, 2024 regarding the tragic death of a former Chairman of First Bank Plc, Ajibola Afonja.

 

The 82 year-old man was said to have died in a car accident.

 

The accident occurred somewhere around Oyo town.

 

Sources hinted papermacheonline that the former Minister popularly known by his company name ‘IDS’ Integrated Dimensional System was rushed to the University College Hospital, Ibadan where he eventually gave up the ghost.

 

The news spread like wildfire within the society circle across Oyo State where Afonja was highly revered.

 

Family sources claimed he would be buried today according to Islamic rites.

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‘How Yahaya Bello Withdrew Almost $1M From Kogi Account To Pay Child’s School Fees’ EFCC boss, Olukoyede

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The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has revealed that a former governor of Kogi State, Yahaya Bello, transferred $720,000 from the government’s coffers to a bureau de change before leaving office to pay in advance for his child’s school fee.

 

Olukoyede revealed this during an interview with journalists on Tuesday in Abuja.

 

He said, “A sitting governor, because he knows he is going, moved money directly from government to bureau de change, used it to pay the child’s school fee in advance, $720,000 in advance, in anticipation that he was going to leave the Government House.

 

“In a poor state like Kogi, and you want me to close my eyes to that under the guise of ‘I’m being used.’ Being used by who at this stage of my life?”

 

 

Olukoyede further stated that he personally reached out to Bello, offering him a chance to clarify the situation in a respectful setting within the EFCC office but the ex-governor reportedly declined to cooperate, citing fears of harassment from an unnamed woman.

 

The EFCC boss added, “I didn’t initiate the case; I inherited the case file. I called for the file, and I said there are issues here.

 

“On my own, I called him, which I am not supposed to do, just to honour him as an immediate past governor. ‘Sir, there are issues. I’ve seen this case file. Can you just come let us clarify these issues?’

 

 

“He said, ‘Ha! Thank you, my brother. I know, but I can’t come. There’s one lady that has surrounded EFCC with over 100 people to come and embarrass me and intimitade me.’

 

Bello was said to have suggested that the EFCC come to his village rather than conduct an investigation at the agency’s quarters.

 

“I said if that is the issue, I’m going to pass you through my own gate, and you will come to my floor. We will accord you that respect. I will invite my operatives; they will interrogate and interview you in my own office. What could be more honourable than that to allay the fear?

 

“You know what he said: ‘Thank you, sir, but can’t they come to my village? Olukoyede added.

 

The chairman also highlighted the agency’s achievements during his tenure, stating, “We have recovered close to 120 billion and secured over 1,600 convictions in six months.

 

“I’m so passionate about the need for us to move forward in this country. We need the EFCC to survive. There are so many victims that we have wiped tears off their eyes, people that have been swindled in their millions. Every day, we keep recovering money for victims.”

 

PUNCH Online reports that the EFCC chairman, Olukoyede, has vowed to resign from his position if Yahaya Bello is not prosecuted.

 

The EFCC is seeking to arraign Bello on 19 counts bordering on alleged money laundering, breach of trust, and misappropriation of funds to the tune of N80.2 billion.

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