EFCC witness gives details of how Madueke used 3 oil coys, 2 persons to launder $115m

A Federal High Court, Ikoyi, Lagos on Wednesday heard how former Petroleum Minister, Mrs. Diezani Madueke, laundered $115 million USD, through three oil companies and two individuals.

An operative of the Economic and Financial Crimes Commission (EFCC), Usman Zakari, who is the second prosecution witness revealed this in the trial of former People’s Democratic Party (PDP), governorship candidate in Kwara state, Mr. Mohammed Dele Belgore, and former Minister for National Planning, Dr. Abubakar Sulaiman. The duo are standing trial in an alleged N450 million fraud.

Belgore and Sulaiman are being re-arraigned before Justice Rilwan Aikawa led-coourt on an amended five counts, wherein the name of the former Petroleum Minister was clearly mentioned.

According to the amended charge, on or about March 27, 2015, Alison-Madueke was accused of conspiring with Belgore and Sulaiman to directly take possession of the sum of N450 million, which they reasonably ought to have known forms part of proceeds of unlawful act.

The two defendants were equally said to have taken the said funds in cash, which exceeded the amount authorized by law, without going through any financial institution.

They were also accused of paying a sum to the tune of N50 million to one Sheriff Shagaya, without going through financial institutions.

The alleged offence, according to the EFCC, are contrary to sections 18 (a)15 (2) (d), 1 (a), 16 (d) and punishable under sections 15 (3) and 4, 16 (2) (b), and 16 (d) of the Money Laundering (Prohibition) (Amendment) Act, 2012.

At the resumed trial of the defendants, the witness, while being led-in-evidence by the prosecutor, Mr. Rotimi Oyedepo, said the former Petroleum Minister, Allison-Madueke, used three oil companies namely: Auctus Integrated Investment Limited, Nothernbelt Oil and Gas Limited, and Midwestern Oil and Gas Limited, and two individuals, Leon Laitan Adesanya and aides to the former minister, to launder $115 million.

Zakari said by the authority of the former Petroleum Minister, the three companies laundered $17.884 million, $16 million, $9.5 million, while Adesanya an aide to the former minister laundered $1.150 million and $25.776 million respectively.

The EFCC witness told the court that the said monies were taken to the bank in suitcases.

The witness also informed the court how the former minister had a meeting with the managing director of a new generation bank on how the money should be changed to naira, and distributed to the 36 states of the country and the officials of the Independent National Electoral Commission (INEC), during the 2015 general election.

The witness also identified some of the documents which includes: email correspondence between the former petroleum minister and the bank’s managing director, the documents signed by the two defendants while receiving the sum of N450 million.

However, the matter was brought to an halt at the instance of the prosecutor, Mr. Oyedepo, who urged the court for adjournment, on the ground that he needed to meet a witness who will be testifying in another criminal matter at a Lagos High Court, on Thursday.

Consequently, the presiding judge, Justice Aikawa adjourned the matter till June 8, for continuation of trial of the defendants.