Police pile evidence ahead of Saraki's interrogations

Date: 2012-04-20

Detectives from the Special Fraud Unit [SFU] of the Nigeria Police said last evening that they had a satisfying initial interview with pioneer chief executive officer of the defunct Intercontinental Bank Plc, Erastus Akingbola, regarding high scale fraud in the institution for which the immediate past governor n Kwara State, Bukola Saraki, and the immediate past chief executive officer of the bank, Mahmoud Lai Alabi, are at the centre of an N11 Billion loan scheme.

Usually reliable police sources at the Milverton Road, Ikoyi, Lagos offices of the SFU told Premium Times this evening that Mr Akingbola "guided our investigations in an interesting way with what I will call comprehensive information" adding that Mr Akingbola provided useful evidence that detectives believe will help move their investigations to the "next level."

At the core of the current case, according to police sources, is the mystery of jumbo loans running over N11 Billion made to subsidiaries of an oil marketing company, Joy Petroleum, owned by one of Saraki's former aides, now deceased, some say, also in mysterious circumstances. 

The detectives, therefore, according to our sources, want Mr. Saraki to help them understand how choice properties in the up-scale markets of Ikoyi and Victoria Island in Lagos connected to him were used as collaterals in the multiple loan schemes that were not repaid but had been substantially written off and the properties relieved of their collateral status.

By bringing Mr. Akingbola ahead of Mr. Saraki, who will himself will be at the SFU today, police insiders revealed to Premium Times that the strategy, in essence, is to "procure enough oil to fry him [Mr. Saraki] dry."

Mr. Akingbola himself has enough legal headache of his own, as he is facing a 22-count charge of stealing N42 Billion from the same bank when he was the chief executive. Citing sloppy EFCC prosecutions, Justice Charles Archibong of the Lagos Federal High Court spurned the case out but did not offer a discharge and acquittal, allowing the prosecutors, after learning their lessons, to proper their prosecution and bring back the charges with a renewed seriousness. 

Yesterday at the SFU, however, Mr. Akingbola enjoyed a modest rock star status, boasting, as one detective revealed, that the Alabi tenure at the bank escalated fraud far beyond the norm and entrenched corruption deeper into the innards of the bank's operational life.

Mr. Akingbola had special reasons to nail the Saraki-Alabi coffin.  After the Lamido Sanusi leadership at the Central bank of Nigeria threw him out of the bank for stealing depositor's fund, he raised alarm that the Saraki family was plotting to take over the bank to which they had become hugely indebted.

In a letter the president, Mr. Akingbola pointed at the appointment of Mr. Lai Alabi, a former farm managers to the Saraki family agricultural holdings, as the chief executive to take over from him. He also pointed at the arrival of bank operational staff from the defunct Societe Generale Bank ran aground by the Saraki family at Intercontinental as evidence of his concerns.

Mr. Akingbola, in other words, was also hinting at the culpability of Mr. Sanusi whom characterized as a friend to Mr. Saraki, in his woes, and intercontinental Bank's fraudulent tilt.

Mr. Alabi also made statements to the SFU on Tuesday and yesterday but was allowed to go home after a night in police cell.

Police detectives say they hope to close a circle in the investigations with Mr. Saraki today but the former governor responded angrily through media aides yesterday saying the investigations now amounted to an endless fishing expedition because he had answered question on this case endlessly.

Detectives also say they believe the current governor of Kwara State, Mr. Abdulfatai Ahmed, will eventually be invited too share his own role in the scandal since a lot of the money transfer was authorized and executed under his watch as finance commissioner in the administration of Mr. Saraki.

Source

 


Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Modibo Kawu     Ronke Adeyemi     Federal Allocation     Kayode Ishola     Jumoke Monsura Gafar     KWTV     Adekunle David Dunmade     Saudat Abdulbaqi     Yakubu Danladi     Awodun     Adesoye     Dele Momodu     Raliat Elelu-Habeeb     Bola Sagaya     Ridwan Agboola     Funmilayo Oniwa     Bashiru Makama     Mahmud Ajeigbe     Muhammed Danjuma     Abiodun Musa Aibinu     Omoniyi Ayinla     Saka Aleshinloye     IEDPU     Toyin Olayinka Tejidini     Yusuf Amuda Aluko     Adegoke Bamidele     Oyin-Zubair     Ilesha-Baruba     Issa Baba     Irepodun     Abdulganiyu Salahudeen     Kwara State Governor     Clement Yomi Adeboye     Kwara NIPR     CCT     CCB     Kwara State Fire Service     Ilorin Amusement Park     Omotosho     Halidu Danbaba     Gurei     Lithium     Ibrahim Abiodun     Funke Adedoyin     Rex Olawoye     Hassan A. Saliu     Balogun-Ojomu     Kolawole Akande     Razak Atunwa     Kwara     Tunji Oyawoye     Abdulwahab Ololele     Aisha Ahman-Pategi     Olokoba     Alimi Abdulrazaq     Tanke     Akeem Olatunji     Muritala Olarewaju     Noah Yusuf     Kunbi Titiloye     Playing Host     Abdul Jimoh Mohammed     AbdulRazaq Abubakar Jiddah     Ilorin Curfew     Samuel Olusegun Adedayo     Mahmud Ayinla Giwa     Fatai Adeniyi Garba     Kunle Okeowo     Abdulwahab Olarewaju Issa     Yakub Lai Gobir     Azeez Bello     Police Commissioner     Iyiola Oyedepo     Adebara     Aminat Omodara     Yusuf Olaolu Ali     Kehinde Boyede    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Amuda Musbau     Ibrahim Abdulqadir Abikan     Ejidongari     Joseph Offorjama     Oloje     UNILORIN Alumni     Rebecca Bake     Damilola Yusuf Adelodun     Kumbi Titiloye     Ayo Adeyemi     Doyin Awoyale     Taofik Mustapha     Olugbense     Esuwoye     Bolakale Saka     Gbemisola Oguntimehin     Muhammed Mahe Abdulkadir     Muhammed Aliyu     Ilorin West/Asa Federal Constituency     Olayinka Jelili Yusuf     Ridwan Agboola     NURTW     Eleyele     Mustapha Akanbi     Kayode Oyin-Zubair     Tafida Of Kaiama     Sobi Specialist Hospital     David Oyerinola Adedunmoye     Lanre Jimoh     Owu Fall     Ilorin Curfew     Opobiyi     Zaratu Umar     CT Ayeni     Jaigbade Alao     Orisa Bridge     Hassan Abdulazeez Elewu     Olukotun Of Ikotun     SGBN     Muhammad Mustapha Suleiman     Ahmed Alhasssan     Federal Neuro-Psychiatric Hospital     Medview Airlines     Sheikh Ridhwanullah     Ijagbo     Shururat Olatinwo     Sobi Hill     Buari Edun     Ayedun     Mohammed Abdulahi     Col. Adedipe     Taibat Ayinke Ahmed     Ope Saraki     Hassanat Bello     T And K FOODS     Islamic Development Bank     Chief Imam Of Lafiagi     Abraham Ojo     Young Progressives Party     Abdullahi Adisa Akodudu     Chikanda     Ahmed Shuaib Buranga     Dankaka     Saliu Ajibola Ajia     Lola Olabayo     Funmilayo Zubair     James Kolo     Ishaq Abdulkarim     Yahya Mohammed     11th Galadima     Abdulraufu Mustapha     Edu     Ahman Pategi     Joana Nnazua Kolo     Yahaya Dumoye     National Broadcasting Commission     Toyin Falola