Justice Chukwujekwu Aneke of a Federal High Court sitting in Lagos has ordered an interim forfeiture of properties valued about N11.14 billion linked to the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Ifeanyi Emefiele.
Justice Chukwujekwu Aneke granted the interim forfeiture of the said properties on Thursday upon a motion ex- parte filed and moved by Rotimi Oyedepo (SAN), counsel to the Economic and Financial Crimes Commission (EFCC), leading other lawyers.
While moving the motion, Rotimi Oyedepo (SAN) urged the court to make the order of interim forfeiture on the attached list of properties.
Oyedepo submitted that the application was filed pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act 14, 2006; Section 44(2)(b) of the constitution of the Federal Republic of Nigeria, and under the inherent jurisdiction of the court.
Oyedepo (SAN) further told the court that three CBN’s officials are suspected of purchasing these high-value properties, primarily located in upscale areas of the Federal Capital Territory, Abuja, using proceeds from fraud.
The three CBN officials are; Makinde Olubunmi, Obayemi Teben and Adebayo Akomolafe, whom Oyedepo said allegedly used their positions to secure retail and special allocations of foreign exchange for various companies in exchange for kickbacks.
After granting the interim forfeiture, Justice Aneke ordered the EFCC to publish the order in a national newspaper, to allow any interested parties to present reasons why a final forfeiture order should not be issued.
The case has been adjourned to June 21 for the hearing of the motion for final forfeiture of the properties
The EFCC in an affidavit in support of the motion Ex-parte deposed to by Mahdi Abubakar, one of the investigators with EFCC stated that:
“I am one of the operatives of the EFCC assigned to investigate the damning intelligence report received by the EFCC in respect of monumental fraudulent activities perpetrated by some senior officers of the Central Bank of Nigerian through which huge sums of money were fraudulently converted and transferred for personal use through kickbacks received from Form ‘M’ approvals.
“That I have the consent and authority of the Executive Chairman, Economic and Financial Crimes Commission to depose to the affidavit in support of this application. And that by virtue of my position as one of the Investigating Officers assigned to investigate the said intelligence report; I am well conversant with the fact of this case, having derived my knowledge of the same in the course of my Investigations.
“That I know as a fact and | verily believe as follows: “that the Commission whilst investigating the alleged monumental fraud carried out by the immediate past Governor of the Central Bank of Nigeria (CBN) and his Cronies traced and discovered several properties reasonably suspected to have been acquired and or developed proceeds of unlawful activities.
“That the said properties, having been reasonably suspected to have been acquired/developed with proceeds of unlawful activities are now sought to be forfeited to the Federal Government of Nigeria in the interim.
“That in the cause of this investigation, it was revealed that two staff of the Central Bank of Nigeria alongside a former staff of the Bank conspired amongst themselves to negotiate kickbacks in return for allocation of Foreign Exchange to some companies who were in desperate need of foreign exchange for their lawful and legitimate businesses.
“That the CBN has a system/process through which companies bid for Foreign Exchange which process is usually done by application through the submission of Form ‘M’ to Commercial banks. And that the above bidding process was carried out through the submission of Form M and subject to approval by a department of the Central Bank of Nigeria.
“That Investigation revealed that the said bidding process were manipulated in favour of some of the companies in return for kickback which proceeds were used in the acquisition of the properties now sought to be forfeited. And that some of the officers of the CBN involved in this fraudulent scheme particularly as it relates to the instant application includes; Obayemi Oluwaseun Teben and Akomolafe Adebayo.
“That the aforementioned officers of the CBN worked in concerts with Olubunmi Makinde a former staff of the Central Bank of Nigeria and others. And that the trio used their positions and influence as staff of the Central Bank of Nigeria to secure retail and Special allocation of Foreign Exchange to different companies in exchange for kickbacks. And that Olubunmi Makinde is the link between Obayemi Oluwaseun Teben and Akomolafe Adebayo and the various companies applying for the purchase of foreign exchange.
“That Obayemi Oluwaseun Teben and Akomolafe Adebayo as staffs of the CBN have access to the bidding processes and bidding Data of companies who have applied for the approval of form Ms to the CBN through their various commercial banks. And that the commercial banks submit the various Form Ms to the CBN, who is in charge of processing allocation, adjustment of price to each USD and subsequent approval of the said Form Ms.
“That in the cause of processing of the said bids at the Central Bank, Obayemi Oluwaseun Teben and Akomolafe Adebayo hand over a list of the bid to Olubunmi Makinde who is a link to the various bidding companies to convince them of his ability to influence the bidding process. And that Olubunmi Makinde as a go between negotiates the kick-backs with the bidding companies on behalf of the trio. And that Olubunmi Makinde is currently at large and all effort are being made to arrest him.
“That Investigation further revealed that the trio of Obayemi Oluwaseun Teben, Akomolafe Adebayo and Olubunmi Makinde has furtively received kickback running into billions of Naira through this fraudulent pattern.
“That one of the final beneficiary of the said proceeds of unlawful activities of the trio, is a real estate Company known as Afrolyke Globe Limited who received the total sum of N 11.140 billion, for the acquisition of the properties, which sum does not represent proceeds of any legitimate earning of the depositors and now sought to be forfeited to the Federal Government of Nigeria.
“That the total sum of N 11. 140 billion, received by Afrolyke Globe Limited are part of proceeds of Obayemi Oluwaseun Teben’s unlawful activities to wit: kickback for influencing the special allocation of foreign exchange for companies who bidded. And that most of the fraudulently earned funds have been invested in the acquisition of various properties now sought to be forfeited to the Federal Government of Nigeria.
“That further investigation revealed that JMG Limited is one of the companies who bidded and paid kick backs to the principal masterminds of Obayemi Oluwaseun Teben, Akomolafe Adebayo and Olubunmi Makinde for the purpose of influencing the approval of the company’s Form M.
“That one Rami Jammal, the Chief Financial Officer of JMG Limited was Invited to the Commission wherein he volunteered his statement chronicling all the kickbacks his principal paid to nominated companies accounts on the Instructions of Olubunmi Makinde for and on behalf of Obayemi Oluwaseun Teben, Akomolafe Adebayo and Olubunmi Makinde to influence the said approval.
“That I know as a fact and verily believed that the companies used as a conduit for receiving and retaining the proceeds of the alleged unlawful activities from JMG Limited on the instruction of Olubunmi Makinde indudes: Alban Cars with account No 5401361240 domicile in Providus Bank, Talent Advisers Professional Services with account No:5600743626 and 5401003212 domicile with Fidelity Bank and Providus respectively, Fetand Concept with account No:5600736448 domiciled with Fidelity Bank, Jules Yard Brand account no. 5401112813 domiciled with Providus Bank, Side Vision Engineering account no. 1017507214 domiciled with Zenith Bank.
“That I know as a fact and verily believed that my team having reasonably suspected that the proceeds of unlawful activity used for the acquisition of the property sought to be forfeited were warehoused in the account of Alban Cars, Alban Homes in Fidelity bank, 4” Order ventures, Talent Advisors, VisteBert Creative Hands, Makinde Folasade Abimbola and JP Connect, Sidevision Engineering obtained the statement of account of the said companies from Providus Bank, Fidelity Bank Plc and Zenith Bank Pic respectively.
“That one Peter Femi Tawo a General Manager Finance with Jawa International Limited, a Pharmaceutical company, who also bidded for the approval of Form Ms and paid kickbacks to the 3 masterminds of this monumental fraud was equally invited to the Commission wherein he volunteered his statements explaining his principal’s financial Involvement in this grand scheme of fraud.
“That one Chukwubike Stanley Orizu, Head of Operation of Chikki Foods Limited which company Is into the manufacturing of Noodles also confirmed that his company bidded for foreign exchange and paid kickbacks. And that the Chukwubike Stanley Orizu was invited to the Commission wherein he supplied documents and volunteered his extra judicial statement voluntarily chronicling how the Chikid Foods Limited paid the kickbacks to various nominated accounts.
“That Wandel international Limited also bidded for Forex through their commercial bank and paid kickbacks. And that one Sakala Aravined Kumar , head of trade of Wandel International Limited was invited by the Commission wherein he volunteered his extra judicial statement and supplied WhatsApp chat between himself and Oluwabunmi Makinde as well as the summary of the total amount his company paid to the nominated accounts used to warehouse the proceeds of the alleged unlawful activities.
“That In the cause of investigation one Akomolafe Adebayo Olufemi,a Senior Management staff in Development Finance Department of the Central Bank of Nigeria and a Principal actor In this grand scheme of alleged fraud was Invited to the Commission wherein he volunteered his statement voluntarily.
“That I know as a fact and verily believed that the Akomolafe Adebayo admitted to our team as follows: “That his Office oversees and monitors all the disbursement to Africa Finance Corporation and Nigeria Source, Investment Agency.
“That his wife (Mrs. Stella Akomolafe) incorporated Vistebert Creative Hands with the accounts domiciled with Zenith Bank (1017261875) and Fidelity Bank Pic (4011441859).
“That Akomolafe Adedayo had the control and dominion over each and every transaction conducted on the account.
“That that said accounts received part of the proceeds of the alleged unlawful activities.
“That he knew Mr. Oluwaseun Obayemi who works with the Foreign Exchange Department of the Central Bank of Nigeria and equally assisted him in manipulating the data.
“That he knew one Bunmi Makinde a former staff of the CBN who introduced him to some Companies for purpose of influencing Foreign Exchange allocation through approvals of Form Ms in exchange for a kickbacks.
“That Mr. Akomolafe, Obayemi, and Bunmi Makinde agreed on the sharing ratio of the kick-backs received from the various companies bidding for the FX approval in the percentage of 80 percent to Akomolafe and Obayemi and 20 percent to Bunmi Makinde.”
“Investigation also revealed that Obayemi Oluwaseun received huge sums of Money as kick-backs through Afrolyke Globe Ltd, Riccarton Fountain Court SPV Ltd, Kalaz Ventures Ltd, Erimic Enterprise Ltd, Fines Globe Service Venture, Sevil Energy Service Ltd, Melvman Enterprise, Briswood Globe, WOJOK Business, Rock Tower Resource Ltd, Access Influential Ltd. Roses
Palace Cuisine, Fem Farm Enterprise, Impress Creation, Choka Nigeria Ltd among others to facilitate approval of FX to various Companies.
“That in the cause of tracing the proceeds of unlawful activities one Osheidu Adeyemi Bisilola’s marketer with Afrolyke Globe Limited was equally invited to the Commission wherein he volunteered his Extra Judicial statement chronicling how he assisted Obayemi Oluwaseun to purchase several properties from his employer (Afrolyke Globe Limited). Attached and Marked Exhibit EFCC 08 is the said statement of Osheidu Adeyemi Bisilola.
“That Osheidu Adeyemi Bisilola is the Nephew of Obayemi Oluwaseun and also assisted him in the purchase of some of the properties listed in Schedule A to this Application now sought to be forfeited. His statement corroborated the investigating findings to the effect that he assisted in the purchase of all the properties listed in Schedule A to this application on the instruction of Obayemi Oluwaseun.
“That investigation was equally extended to Aminu Lawal Atana, a Director in Afrolyke Globe Limited who reported to the Commission and volunteered his Extra Judicial Statement and explained his role in the sale of the properties listed in Schedule A. Attached and Marked as EFCC 9 is a copy of the said Statement of Aminu Lawal Atana a Director in Afrolyke Globe Limited.
“That Osheidu Adeyemi Bisilola a marketer in Afrolyke presented a letter indicating intention to invest in their properties located at Vegas Mall and Apartment in the names of some companies on behalf of his investors.
“That Adeyemi Obayemi indicated interest in two plots of lands measuring 4.23 hectars, located at Plot 4888, Cadastral Zone A10, Maitama II, Abuja and 1.24 hectares located at Plot 129, Sector Center, C B 17, Abuja at the total cost of N4 billion which equivalent was paid with $6 million USD cash in two installments.
“That after the payment for the above property, Adeyemi Obayemi instructed Afrolyke Globe Limited to draw up the Deed of assignment and the power of Attorney in his name, in respect of the two landed properties. And that the said sum of N6. 840 billion which represents part of proceeds of Obayemi Oluwaseun Teben’s unlawful activities were paid into the account of Afrolyke Globe Limited on his instructions through various companies for the purchase of the properties listed in Schedule A to this Application.
“That the total sum received by Afrolyke Globe Limited are not the legitimate earnings of the said companies who made those payment but rather part of funds reasonably suspected to have been derived from proceeds of an unlawful activities.
“That the properties are reasonably suspected to have been acquired with the proceed of unlawful activities were surreptitiously acquired in the name of the following companies; Talent Advisors Pro. Service, Jules Yard Brand Enterprises, Side Vision Engineering Limited, 4th Order Ventures, Alban Cars, Tanibeam Enterprise, Fetand Concepts and Rose’s Palace Cuisine.
“That I also know as a fact and verily believed that my team obtained from Union Bank Pic, Access Bank, Guaranty Trust Bank, Keystone Bank and First City Monument Bank, the statement of accounts of Afrolyke Globe Limited.
made payments from the proceeds of the alleged unlawful activities into the bank account of Kalaz Venture.
“That i know as a fact and verity believed that our investigation revealed that all the companies mentioned above were used at various times to received part of Obayemi Oluwaseun unlawful activities.
“That I know as a fact and verily believed that our investigation equally revealed that with respect to the cash payment of the sum of $6 million, paid to Afrolyke Global Limited part of the funds use to acquire the properties listed in schedule A the cash USD component were collected from Abdullahi Kabir.
“That investigation further revealed that all these companies were used in the intermediate steps to perfect this scheme of fraud.”
