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REVEALED: How Jide Omokore’s Atlantic Energy swindled FG $1.6bn

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Atlantic Energy Drilling Concept Nigeria Limited, an oil firm owned by Olajide Omokore, that swindled billions of dollars from the flagship subsidiary of the Nigerian National Petroleum Corporation – Nigeria Petroleum Development Company, is to refund $1.6bn to the oil firm following recent judgments obtained by the NNPC.

NNPC’s Group Managing Director, Maikanti Baru, said this was one of the recent achievements of the anti-corruption fight of the oil firm while speaking at the headquarters of the corporation in Abuja on Tuesday, after he was named patron of the Chartered Institute of Forensic and Investigative Professionals of Nigeria.

Baru said, “We’ve made a lot of inroads in terms of fraud detection, prevention and control. The most important thing for the economy and any business is to ensure that fraud does not occur. It is not to allow the fraud to take place and then you start fighting it. So, the prevention aspect of fraud is very key.

“Under the anti-corruption committee, we were able to ensure that all staff members of NNPC and those doing business with the corporation know the correct processes. They also know what constitutes corruption and, of course, they know the punishments that follow.

He added, “I will not like to itemise the areas or each aspect that we’ve done but I must tell you that there is a lot of sanity in what has happened. However, I can just mention one. Recently, we were able to get the Atlantic companies that were fleecing the NNPC subsidiary called NPDC ,and we got an award for them to refund $1.6bn to NPDC through the arbitration process.”

Baru said the NNPC had been able to address some high-profile court cases that were targeted at defrauding the national oil firm.

He cited an instance where the oil firm saved over $350m after it was able to settle a case which it had with another oil company out of court.

Baru said, “We’ve also been able to stem some of the high-profile court cases that we believe had been set up to defraud NNPC. And some of these activities are related to fighting corruption. If you see the amount of money involved and if you don’t have people who are determined to fight corruption, the chances are that you will be compromised.

“We’ve had some other cases, for example, NNPC versus IPCO, where they were demanding over $400m because of their activities. But we were able to settle out of court with them for $37.5m, which is a saving of several percentages and certainly less than 10 per cent of the initial demand.

“So, these are activities which the fraud investigation and, of course, forensic investigation are about, in order to ensure that fraud is not there because you will detect it, investigate it and prosecute it so that you get value for money.”

  • PUNCH

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Ex Governor Abdullahi Ganduje, Wife, others To Be Arraigned April 17 Over Dollar Video…..

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The Kano High Court is set to arraign Kano State’s immediate previous governor, Abdullahi Ganduje, on April 17, 2024, on charges of bribery, diversion, and theft of money, including the alleged acceptance of $413,000 and N1.38 billion in bribes.

Haruna Dederi, Kano State Attorney General and Commissioner of Justice, confirmed the situation, saying Ganduje would be charged with his wife and six others.

The accused individuals named in the summons are Abdullahi Umar Ganduje, Hafsat Umar, Abubakar Bawuro, Umar Abdullahi Umar, Jibrilla Muhammad, Lamash Properties Ltd, Safari Textiles Ltd, and Lesage General Enterprises.

The Kano State Government, which initiated the criminal suit against the eight respondents, has declared its readiness to present 15 witnesses to testify before Justice Usman Na’aba of State High Court number four.

“It is very true. We have filed the case and it’s going to hold on the 17th of April, 2024. What I cannot confirm is whether he is served or not, but he will definitely be served,” he said.

Dederi further highlighted the significance of accountability in governance, remarking, “What he (Ganduje) doesn’t understand is that you cannot run away from the evil day, it will definitely come to you, and this will even serve as a deterrence to all of us that are also in government now.”

The commissioner also addressed the jurisdictional aspect of the case, asserting,
“He was saying that we can’t prosecute him, forgetting that the offence also falls under the category of the state offences,” he said.

“It’s not totally a federal affair and we have even appealed to Justice Liman ruling on that.”

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Just In: Emefiele arrives Lagos court for arraignment

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The embattled former Central Bank of Nigeria Governor, Godwin Emefiele, has arrived at the Ikeja State High Court in Lagos for
his arraignment over alleged abuse of office and allocation of billions of dollars.

Emefiele, alongside his co-defendant, one Henry Isioma Omole, will be arraigned on fresh 26 counts before Justice Rahman Oshodi this morning.

In the charge marked ID/23787c/2024 and dated April 3, 2024, the EFCC alleged that Emefiele abused his office between 2022 and 2023 in Lagos.

The commission alleged that the former CBN governor “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”

Details later…

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Look Beyond Sentiments, Fagade Urges Critics of Tinubu’s Appointments… Congratulates FIRS Boss, Zacch Adedeji

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Businessman and chieftain of the All Progressives Congress (APC) in Oyo state, Chief Abisoye Fagade has told those accusing President Bola Ahmed Tinubu of nepotism to jettison primordial sentiments, vindictiveness and bitterness with a view to supporting the current administration in its drive to take Nigeria out of the doldrums.

Fagade’s submission came against the background of insinuations from some quarters that appointments made so far by President Bola Tinubu was skewed in favour of the Yoruba ethnic group or people in the south western part of the country even though there have been counter reactions from eminent personalities from all parts of the country that the accusation of nepotism against Mr. President was unfounded and invalid.

In a statement issued on Wednesday and made available to journalists in Ibadan, Fagade described the Tuesday confirmation of Dr. Zacch Adedeji as the substantive chairman of the Federal Inland Revenue Service (FIRS) by the Nigerian Senate as “a step in the right direction taken to facilitate the quick realization of economic recovery agenda of the Tinubu administration.

“The appointment of Dr. Adedeji as the FIRS boss as well as other cerebral financial and economic management experts to man one key post or the other in the current administration will no doubt yield the desired results as Nigerians should expect economic rejuvenation, wealth creation and naira stability in no time. Governance is no tea party and one fundamental thing in the life of any government is having the right peg in the right hole and not the other way round.

“It is essential we congratulate our own Zacch Adedeji on the confirmation of his appointment as the FIRS boss by the Nigerian Senate in view of the fact that our confidence and trust in him as a competent administrator, seasoned financial expert and unique patriot remain constant. There are high expectations about Nigerian economy being diversified for obvious reasons by the Tinubu administration and we believe with the likes of Adedeji in FIRS, the goal would be achieved sooner than later.

“Above all, we appeal to all stakeholders in the affairs of our dear country to always eschew jingoism, ethnic biases or religious consideration on any matter relating to the interest of the most populous black nation in the world. The time to fix Nigeria is now and with the person of President Tinubu at the helms of affairs, the massive turnaround desired in our socio-economic and political architecture would begin to materialize very soon and it would not only be consolidated but also sustained for the collective benefits of all and sundry”. Fagade stated.

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