How Zenith and Union Banks Aided Odili to Loot River State November 28, 2009 |  Seyi Oduyela (Archives)

 

   

How Zenith and Union Banks Aided Odili to Loot River State

·       Prof. Babalola Borisade, Dr. Ahmadu Alli, Mr. Barnabas Gemade, and  Ike Nwachukwu mentioned as beneficiaries

 Reports from the Economic and Financial Crimes Commission reveal how Dr. Peter Odili, former Governor of River state looted several billion of the state and disbursed same to cronies. Seyi Oduyela writes.

 Besides currently prosecuting about eight of the former governors, which include James Ibori (Delta), Chimaroke Nnamani (Enugu), Lucky Igbinedion (Edo), Orji Uzor Kalu (Abia), Saminu Turaki (Jigawa), Joshua Dariye (Plateau), Boni Haruna (Adamawa), and Jolly Nyame (Taraba) on charges of corruption and abuse of office,  African Interest reliably gathered that  the Economic and Financial Crime Commission (EFCC) has also concluded plans to commence the trial of the former governor of River State, Dr. Peter Odili.

Indeed, Top EFCC sources disclosed to African Interest in confidence that sooner than imagined, the former governor of the oil rich state will be facing trial for a flurry of allegations and charges of brazen corruption and direct stealing from the state treasury. The hard questions compiled by the EFCC for Odili’s response, it was learnt will be contained in the about 147 count charges that will be preferred against him (Odili). “With the facts on ground and the merit of the charges against him, it is only a matter of time that he will find himself behind bar. I can bet you that there is no way he can escape these charges.” The source bragged.

An insight into the loot of Odili as contained in the EFCC investigative report shows that a total of about N89billion was fleeced from the state treasury. Of the amount, about N73billion is in local currency while a whooping N16billion in (current forex rate) equivalent was conveniently carted away in US Dollars, Euros and Pound Sterling. The breakdown further revealed that about 129million is in Dollars, one million in Euro and the balance 2Million in Pounds.

Analyses drawn from the EFCC report shows that, one Emmanuel Nkatah a personal staff of the Governor working at the Rivers state liaison office Abuja was a loyal and willing tool in hands of Odili. In the looting spree, series of questionable withdrawals were made from Government House Zenith Bank account No. 6010916587 placed at the disposal of the former governor. All withdrawals were in cash and without any official transaction and documentation. The account ran like a GSM number dedicated to a live Radio program. Between 15 December 2004 and 11 September 2006, a total of 86 curious withdrawals of various sums were made by Nkatah on behalf of Odili. By September when EFCC spread its dragnet over the state, a total of N4.012billion has been withdrawn from the account. All withdrawals were made in Abuja leaving officials of the commission to wonder whether the government was being run from outside the state. Surprisingly, the withdrawals were hardly reported to the relevant security agencies including the Nigeria Financial Intelligence Unit, NFIU, an arm of the EFCC charged with the responsibility of monitoring transactions made within and among Banks. In the conclusion of the EFCC, the act is a clear violation of relevant laws and an offence punishable under sections 390(8) (b) of the Criminal Code, Laws of the Federation of Nigeria, 2004. (See Box for breakdown of all withdrawal).

In the enormous pursuit for Odili, the former governor may however not be the only one to stand prosecution. Some of the accused that will be charged alongside Dr. Peter Odili according to the source include Mr. Johnson Arumemi-Ikhide, Rockson Engineering Co. Ltd, Ojemai Farms Ltd, Ojemai Investments Ltd, Prof. Babalola Borisade, Dr. Ahmadu Alli, Mr. Barnabas Gemade, Paul T, Mrs. Olufemi A, Ike Nwachukwu, Godsonic Oil Coy Ltd and Prof. Ukandi Damanchi. Others are Courage Communications Ltd, Attn Ltd, Ragolis Water Ltd, M/S Wetland Health Services Ltd, Transky Ltd, Foby Eng. Ltd, First Medical/Sterile Company Ltd, Habila Resources Ltd and four Media Houses.

See below the withdrawals:

      TABLE OF SOME OF THE QUESTIONABLE WITHDRAWALS

 Date                 Amount            Bank            A/C No.                Venue          Beneficiary

 

15/12/2004   N30Million                  Zenith 6010916587  Abuja              Emmanuel Nkatah

17/12/2004              N15Million               Zenith 6010916587  Abuja              Emmanuel Nkatah

23/12/2004              N30Million              Zenith 6010916587  Abuja              Emmanuel Nkatah

04/01/2005              N15Million             Zenith 6010916587  Abuja              Emmanuel Nkatah

11/01/2005              N20Million              Zenith 6010916587  Abuja              Emmanuel Nkatah

17/01/2005              N20Million             Zenith 6010916587  Abuja              Emmanuel Nkatah

09/02/2005              N10Million            Zenith 6010916587  Abuja              Emmanuel Nkatah

11/02/2005              N10Million             Zenith 6010916587  Abuja              Emmanuel Nkatah

14/02/2005              N15Million             Zenith 6010916587  Abuja              Emmanuel Nkatah

17/02/2005              N10Million             Zenith 6010916587  Abuja              Emmanuel Nkatah

28/02/2005              N25Million            Zenith 6010916587  Abuja              Emmanuel Nkatah

14/03/2005              N20Million            Zenith 6010916587  Abuja              Emmanuel Nkatah

21/03/2005              N65Million             Zenith 6010916587  Abuja              Emmanuel Nkatah

07/04/2005              N10Million             Zenith 6010916587  Abuja              Emmanuel Nkatah

25/04/2005              N15Million              Zenith 6010916587  Abuja              Emmanuel Nkatah

27/04/2005              N30Million         Zenith 6010916587  Abuja              Emmanuel Nkatah                

31/05/2005              N10Million        Zenith 6010916587  Abuja              Emmanuel Nkatah

02/06/2005              N10Million       Zenith 6010916587  Abuja              Emmanuel Nkatah

06/06/2005              N20Million      Zenith 6010916587  Abuja              Emmanuel Nkatah

09/06/2005              N20Million      Zenith 6010916587  Abuja              Emmanuel Nkatah

13/06/2005              N25Million       Zenith 6010916587  Abuja              Emmanuel Nkatah    

16/06/2005              N15Million    Zenith 6010916587  Abuja              Emmanuel Nkatah    

20/06/2005              N25Million   Zenith 6010916587  Abuja              Emmanuel Nkatah    

27/06/2005              N16.3Million   Zenith 6010916587  Abuja              Emmanuel Nkatah    

30/06/2005              N10Million         Zenith 6010916587  Abuja              Emmanuel Nkatah    

06/07/2005              N10Million         Zenith 6010916587  Abuja              Emmanuel Nkatah    

12/07/2005              N15Million          Zenith 6010916587  Abuja              Emmanuel Nkatah    

14/07/2005              N10Million         Zenith 6010916587  Abuja              Emmanuel Nkatah                

18/07/2005              N20Million        Zenith 6010916587  Abuja              Emmanuel Nkatah    

27/07/2005              N10Million        Zenith 6010916587  Abuja              Emmanuel Nkatah    

29/07/2005              N15Million       Zenith 6010916587  Abuja              Emmanuel Nkatah    

25/08/2005              N20Million      Zenith 6010916587  Abuja              Emmanuel Nkatah    

29/08/2005              N20Million      Zenith 6010916587  Abuja              Emmanuel Nkatah    

01/09/2005              N10Million       Zenith 6010916587  Abuja              Emmanuel Nkatah    

08/09/2005              N40Million     Zenith 6010916587  Abuja              Emmanuel Nkatah    

12/09/2005              N30Million      Zenith 6010916587  Abuja              Emmanuel Nkatah

22/09/2005              N10Million     Zenith 6010916587  Abuja              Emmanuel Nkatah

29/09/2005              N15Million     Zenith 6010916587  Abuja              Emmanuel Nkatah

14/10/2005              N100Million    Zenith 6010916587  Abuja              Emmanuel Nkatah    

07/10/2005              N20Million         Zenith 6010916587  Abuja              Emmanuel Nkatah    

12/10/2005              N20Million       Zenith 6010916587  Abuja              Emmanuel Nkatah    

14/10/2005              N10Million         Zenith 6010916587  Abuja              Emmanuel Nkatah    

18/10/2005              N10Million          Zenith 6010916587  Abuja              Emmanuel Nkatah    

20/10/2005              N12Million          Zenith 6010916587  Abuja              Emmanuel Nkatah    

24/10/2005              N20Million          Zenith 6010916587  Abuja              Emmanuel Nkatah    

26/10/2005              N25Million         Zenith 6010916587  Abuja              Emmanuel Nkatah    

01/11/2005              N10Million          Zenith 6010916587  Abuja              Emmanuel Nkatah

09/11/2005              N30Million          Zenith 6010916587  Abuja              Emmanuel Nkatah

10/11/2005              N22Million          Zenith 6010916587  Abuja              Emmanuel Nkatah

28/11/2005              N50Million        Zenith 6010916587  Abuja              Emmanuel Nkatah

29/11/2005              N100Million     Zenith 6010916587  Abuja              Emmanuel Nkatah

05/12/2005              N100Million     Zenith 6010916587  Abuja              Emmanuel Nkatah

06/12/2005              N70Million       Zenith 6010916587  Abuja              Emmanuel Nkatah

08/12/2005              N100Million       Zenith 6010916587  Abuja              Emmanuel Nkatah

17/01/2006              N20Million        Zenith 6010916587  Abuja              Emmanuel Nkatah

25/01/2006              N15Million        Zenith 6010916587  Abuja              Emmanuel Nkatah

07/02/2006              N20Million        Zenith 6010916587  Abuja              Emmanuel Nkatah

16/02/2006              N50Million        Zenith 6010916587  Abuja              Emmanuel Nkatah

17/02/2006              N50Million        Zenith 6010916587  Abuja              Emmanuel Nkatah

08/03/2006              N10Million     Zenith 6010916587  Abuja              Emmanuel Nkatah

10/03/2006              N4Million      Zenith 6010916587  Abuja              Emmanuel Nkatah

13/03/2006              N40Million       Zenith 6010916587  Abuja              Emmanuel Nkatah

16/03/2006              N20Million         Zenith 6010916587  Abuja              Emmanuel Nkatah

28/03/2006              N20Million         Zenith 6010916587  Abuja              Emmanuel Nkatah

11/04/2006              N65Million           Zenith 6010916587  Abuja              Emmanuel Nkatah

13/04/2006              N100Million         Zenith 6010916587  Abuja              Emmanuel Nkatah

18/04/2006              N100Million           Zenith 6010916587  Abuja              Emmanuel Nkatah

04/05/2006              N50Million             Zenith 6010916587  Abuja              Emmanuel Nkatah

25/05/2006              N500Million           Zenith 6010916587  Abuja              Emmanuel Nkatah

30/05/2006              N100Million           Zenith 6010916587  Abuja              Emmanuel Nkatah

05/06/2006              N200Million          Zenith 6010916587  Abuja              Emmanuel Nkatah

19/06/2006              N100Million          Zenith 6010916587  Abuja              Emmanuel Nkatah

21/06/2006              N100Million           Zenith 6010916587  Abuja              Emmanuel Nkatah

03/07/2006              N50Million             Zenith 6010916587  Abuja              Emmanuel Nkatah

12/07/2006              N50Million              Zenith 6010916587  Abuja              Emmanuel Nkatah

14/07/2006              N100Million            Zenith 6010916587  Abuja              Emmanuel Nkatah

19/07/2006              N100Million            Zenith 6010916587  Abuja              Emmanuel Nkatah

31/07/2006              N20Million              Zenith 6010916587  Abuja              Emmanuel Nkatah

02/08/2006              N50Million             Zenith 6010916587  Abuja              Emmanuel Nkatah

08/08/2006              N100Million          Zenith 6010916587  Abuja              Emmanuel Nkatah

15/08/2006              N50Million             Zenith 6010916587  Abuja              Emmanuel Nkatah

22/08/2006              N100Million          Zenith 6010916587  Abuja              Emmanuel Nkatah

28/08/2006              N100Million           Zenith 6010916587  Abuja              Emmanuel Nkatah

06/09/2006              N100Million           Zenith 6010916587  Abuja              Emmanuel Nkatah

07/09/2006              N50Million             Zenith 6010916587  Abuja              Emmanuel Nkatah

11/09/2006              N50Million              Zenith 6010916587  Abuja              Emmanuel Nkatah

2004-2006                                 N30, 031,446,589.70           Zenith 6010914407  Abuja              Rockson Eng. Co Ltd.

To be continued…….. 

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