Two ex-ministers, Etete, Adoke, seven others charged with $1.6bn ‘fraud’

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The Economic and Financial Crimes Commission (EFCC) Tuesday filed nine charges bordering on alleged mismanagement of $1,616,690,656.78 Malabu Oil cash against two former ministers, Dan Etete of the petroleum ministry and Justice and Attorney-General of the Federation Mohammed Bello Adoke (SAN) and seven others.

The others are a businessman, Aliyu Abubakar, Malabu Oil and Gas Limited; Rocky Top Resources Limited; Imperial Union Limited; Novel Properties and Development Company Limited, Group Construction Limited and Megatech Engineering Limited.

The nine-count charge was filed at the Federal High Court, Abuja by a team of lawyers, including Johnson Ojogbane, C.C. Nduese, H.M. Mohammed, and Victor Ukagwu.

No date has been filed for the arraignment of the suspects, some of whom are outside the country.

The charges read in part: “That you Dauzia Loya Etete (aka Dan Etete) and Malabu Oil and Gas Limited on or about 24th August 2011 in Abuja within the jurisdiction of this Honourable Ciurt directly or indirectly took control of $400 million only paid from the Federal Government of Nigeria Escrow Account No. 41451493 IBAN 30CHAS699242411492 with JP Morgan Chase Bank in London into the account of Malabu Oil and Gas Limited domiciled in PHB PLC (now Keystone Bank) Account No. 1005552028 when you knew that the funds formed part of the proceeds of an unlawful activity to wit: Fraud and thereby committed an offence contrary to Section 15(2) of the Money Laundering ( Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act.

“That you Dauzia Loya Etete (aka Dan Etete) and Malabu Oil and Gas Limited on or about the 10th August 2011 in Abuja within the jurisdiction of this Honourable Ciurt directly or indirectly took control of the sum of $401million only paid from the Federal Government of Nigeria Escrow Account No. 41451493 IBAN GB 30CHAS699242411492 with JP Morgan Chase Bank in London into the account of Malabu Oil and Gas Limited domiciled in First Bank Nigeria Plc in Account No. 2011828805 when you knew that the funds formed part of the proceeds of an unlawful activity to wit: Fraud and thereby committed an offence contrary to Section 15(2) of the Money Laundering (Prohibition) Act 2011 as amended in 2012 and ounishable under Section 15(3) of the same Act.

“That you Dauzia Loya Etete( aka Dan Etete) and Malabu Oil and Gas Limited on or about the 10th August 2011 in Abuja within the jurisdiction of this Honourable Court converted the sum of $400m only which sum was transferred from the Federal Government of Nigeria Escrow Account No. 41451493 IBAN GB 30CHAS609242411493 with JP Morgan Chase Bank in London into the account of Malabu Oil and Gas Limited domiciled in Bank PHB Plc( now Keystone Bank) Account No. 1005552028 which you claimed was received as payment for Oil Prospecting Licence (OPL 245) when you knew that the funds formed part of the proceeds of an unlawful activity to wit: Fraud and thereby committed an offence contrary to Section 15(2) of the Money Laundering (Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act.

“That you Dauzia Loya Etete( aka Dan Etete) and Malabu Oil and Gas Limited on or about the 10th August 2011 in Abuja within the jurisdiction of this Honourable Court directly or indirectly converted the sum of $401,540,000( $401.540m) only which sum was transferred from the Federal Government of Nigeria Escrow Account No. 41451493 IBAN GB 30CHAS609242411493 with JP Morgan Chase Bank in London into the account of Malabu Oil and Gas Limited domiciled in Bank PHB Plc( now Keystone Bank) Account No. 1005552028 which you purportedly claimed was received as payment for Oil Prospecting Licence ( OPL 245) when you knew that the funds formed part of the proceeds of an unlawful activity to wit: Fraud and thereby committed an offence contrary to Section 15(2) of the Money Laundering ( Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act.

“That you Aliyu Abubakar, Rocky Top Resources Limited, sometime in 2011 in Abuja within the jurisdiction of this Honourable Court did retain the sum of $336,456,906.78 only in Bank PHB Plc (now Keystone Bank) Account No. 100555202 belonging to Rocky Top Resources Limited when you reasonably ought to have known that the said funds formed part of the proceeds of an unlawful activity of Dan Etete and Malabu Oil and Gas Limited to wit: Fraud and thereby committed an offence contrary to Section 15(2) of the Money Laundering ( Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act.

“That you Dauzia Loya Etete( aka Dan Etete) and Malabu Oil and Gas Limited sometime in Abuja within the jurisdiction of this Honourable Court having reason to know that the aggregate sum of $801,540,000 only directly represent the proceeds of an unlawful activity of Malabu Oil and Gas Limited to wit, fraud in respect of the said amount used the said funds and you thereby committed an offence contrary to Section 15(2) of the Money Laundering ( Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act.

“That you Dauzia Loya Etete( aka Dan Etete) and Malabu Oil and Gas Limited and Mohammed Adoke Bello( SAN) sometime in 2011 in Abuja within the jurisdiction of this Honourable Court conspired among yourselves to commit money laundering offences contrary to Section 18 of the Money Laundering ( Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act.

“That you Mohammed Adoke Bello( SAN) on or about the 10th August 2011 in Abuja within the jurisdiction of this Honourable Court aided Dauzia Loya Etete( aka Dan Etete) and Malabu Oil and Gas Limited to commit an offence of money laundering by facilitating the payment of an aggregate sum of $801,540,000 only to Dauzia Loya Etete( aka Dan Etete) and Malabu Oil and Gas Limited through the Federal Government of Nigeria Escrow Account No. 41451493 IBAN GB 30CHAS609242411493 with JP Morgan Chase Bank in London which you reasonably ought to have known that the said funds formed part of the proceeds of an unlawful activity to wit; fraud and thereby committed an offence contrary to Section 18(a) of the Money Laundering ( Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act.

“That you Aliyu Abubakar, Rocky Top Resources Limited, Novel Properties and Development Company Limited, Group Construction Limited and Megatech Engineering Limited between August and December 2011 in Abuja within the jurisdiction of this Honourable Court disguised the origin of an aggregate sum of $478,693,750 only by paying several companies for services rendered when you reasonably ought to have known that the said funds directly represented the proceeds of an unlawful activity of Dauzia Loya Etete( aka Dan Etete) and Malabu Oil and Gas Limited to wit fraud and thereby committed an offence contrary to Section 15(2) (a) of the Money Laundering ( Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act.”

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