To avoid the escape of Babalakin who is the Chairman of Bi-Courteney Group, the concessionaire company that manages the Lagos airport(MMA2) and the dilapidated Lagos-Ibadan expressway,the lawyer turned businessman was again invited to the Abuja office of the EFCC last Wednesday, May 9 2012 where he was detained from 10am till about 5pm local time during which his travel documents were retrieved from him.

A top member of the team investigating the businessman told ireports-ng.com that”we invited him because we have gotten to a critical point of blocking all loopholes in the investigation and filing charges against the accused. Yes, he was detained for some hours because he was relying on some contacts in the presidency and didn’t want to cooperate. We needed to get his international travel passport as well as take his photograph for forensic purposes but he initially refused to cooperate.It is a standard practice to write the offence of such people on a piece of paper which they will hold on their chest while we take their photographs just as it was done in the Ibori picture released to the press by London police but he took offence. He eventually submitted himself for the photo session when it dawned on him he was going to sleep in the cell.”

Justifying while Babalakin was invited for another round of interrogation, our source who is very close to the agency’s chief executive, Ibrahim Lamorde disclosed that “we reviewed his past statements and felt like asking him more questions based on legal advice from our legal team that will prosecute the case.”

The source who claimed he was not mandated to speak on record on the case because of the enormous pressure from the National Security Adviser, NSA, General Andrew Owoeye Azazi on his boss,Lamorde to drop the case assured that the EFCC boss was ready to damn all consequences, prove a point and “file the matter in court any moment from now.”

ireports-ng.com had in an exclusive report on February 22, 2012 broken the news on the arrest and detention of Babalakin. According to the report then, “Babalakin was arrested in Lagos on Saturday and detained at the agency’s facility located off Awolowo road, Ikoyi, Lagos where he was interrogated till the following day, Sunday. A source in the team of operatives that quizzed Babalakin said the lawyer turned businessman was interrogated for allegedly providing his company bank accounts through which Ibori transferred over N1.6 billion to offshore accounts.

“The funds were said to have been moved from Delta state government accounts through companies owned by Babalakin under the guise of purchasing a jet which was never bought. The senior lawyer turned businessman is the Chairman of Bi-Courteny Aviation which owns the terminal two of the Lagos airport, Ikeja.

“The latest information linking Babalakin to funds stolen by Ibori was said to have been provided by the Met Police in London which wants more evidence to prosecute Ibori over money laundering charges in a Southwark court. Ibori’s wife,Nkoyo; his sister,Christie; his mistress, Udoamaka and lawyer have already been convicted and serving various jail terms in the UK.

“Though Babalakin has been granted administrative bail on Sunday, there are indications that he may be invited for further questioning if the Met Police that needs his statement is not satisfied with the information already obtained from him.”

The latest development has therefore confirmed that initial report on the case.

Hembe had at the House plenary today offered to resign his chairmanship position while he defended his innocence over the allegation by Oteh and accused the SEC boss of actually offering to bribe the committee with an offer of N30 million. Hembe’s allegation on the floor of the House today was however confirmed by documents obtained from reliable sources in SEC today.

One of such is a March 1, 2012 memo,written by the Senior Supervisor (CA),in SEC, Hassan Mamman seeking the permission of the SEC DG, Ms. Arunma Oteh, to open discussion with the House Committee on how it could sponsor the public hearing following an invitation from the House Committee on Capital Market. The SEC internal memo entitled:“RE-PUBLIC HEARING ON THE NIGERIAN CAPITAL MARKET”, reads: “The Commission is in receipt of a letter of invitation from the leadership of the House of Representatives Committee on Capital Market inviting the Management of the Commission to a public hearing on the Nigerian Capital Market slated for March 13 – 30, 2012.

“Before then, a paid advertisement by the Committee was sighted in some National Dailies in which other stakeholders were also invited alongside the Commission to the three weeks events.

“In view of the Commission’s role as the apex regulator of the Nigerian Capital Market and in consideration of the existing cordial relationship cultivated over the years between it and the House of Representatives Committee on Capital Market, we find it appropriate for the Management to assist the Committee by co-sponsoring this three weeks long event.

“It is our considered opinion that doing this will be of immense benefit to the Nation Capital Market by further creating more conducive atmosphere to finding lasting solutions to the challenges facing the Nigerian Capital Market.

“If the above suggestion is acceptable to Management, the Committee may be approached on your directives, to find out the possible areas for the support.

“Submitted for your consideration and further directives.”

Following Arunma Oteh’s approval of the internal memo to offer the Committee some monetary sponsorship, another internal memo dated March 9th, 2012 signed by the same Senior Supervisor (CA) in SEC, Hassan Mamman and addressed to the DG of SEC,entitled:“RE-PUBLIC HEARING ON THE NIGERIAN CAPITAL MARKET”, reads:

“Please, recall that the Commission received a letter of invitation from the leadership of the House of Representatives Committee on Capital Market inviting the management of the Commission to a public hearing on the Nigerian Capital Market slated for March 13 – 30, 2012.

“The leadership of the Committee had also earlier advertised the hearing in some National dailies in which other stakeholders were also invited alongside the Commission to the three weeks long event.

“The department had suggested to the management the need to support this great effort of the National Assembly to finding a lasting solution to the challenges facing the Nigerian Capital Market.

“We were then mandated to approach the Committee with a view to finding out the areas where such support is required.
“The committee welcomed this development and accordingly forwarded a budget estimate for the public hearing (see attached).

“In view of the above and in pursuance of the Commission’s statutory responsibilities to the Nigerian Capital Market and in furtherance of our mutual relationship with the NASS as major stakeholders in the capital market, we hereby recommend the sponsorship of two items only from their budget as follows:
1. 1, (C) Live Coverage: N26, 203,800
2. 2, Secretariat needs: N4, 215,000
Total: N30, 418,800

“Submitted for Management’s consideration and approval the sum of N30, 418,800 only being part sponsorship of the upcoming public hearing by the House of Representatives Committee on Capital Market and institutions to identify the manifest causes of the near collapse of the Nigerian Capital Market.”

*Copies of the memos exposing Arunma Oteh are also attached.

iReports-ng.com had in an exclusive report detailed how the speaker who is at the moment facing money laundering charges filed against him and his Personal Assistant by Nigeria’s anti-graft police, the EFCC, has set out to engage in another fraudulent venture outside his legislative duties by organising seminars for all councillors and chairmen in the 57 council areas in the state for a whooping sum of N300 million.

By the time the scam was reported, the first phase of the seminar had been held for councillors at “The Event Centre”, Alausa area of Ikeja while the council chairmen were to attend the second phase slated for Ghana this week. Some members of the Assembly who protested against the wasteful venture had threatened in an interview with ireports-ng.com to report the scam to the EFCC.

Investigations by ireports-ng.com revealed that the second leg of the seminar which is being coordinated by Senator Tokunbo Afikuyomi was to kickoff last Wednesday, March 14 but was hurriedly suspended by the embattled speaker due to public outcry that followed the story as published by ireports-ng.com.

One of the lawmakers who confirmed the latest development told ireports-ng.com today that “the whole thing changed after your last report on this matter. In fact, the speaker suddenly became nice to members but as things are now the trip to Ghana which was slated for Wednesday has been suspended but our fear remains that will the over N300 million that has been taken out of our account for this purpose be returned to the treasury? We are watching and ready to intimate the EFCC on this as we earlier promised”

Our earlier report on the scam runs below:

Three weeks to the commencement of trial in a money laundering and fraud case instituted against him by Nigeria’s anti-graft police, EFCC, the embattled speaker of the Lagos State House of Assembly, Adeyemi Sabitun Ikuforiji has been fingered in another fraud of diverting over N300 million tax payers money through frivolous seminars for local government chairmen and councillors.

The latest revelation is coming even as ireports-ng.com gathered that Mr Ikuforiji has begun a structured payment of a bribe of $1 million USD to Justice Okechukwu Okeke of the federal high court, Lagos where the EFCC last week re-arraigned Ikuforiji and his Personal Assistant, Oyebode Atoyebi for stealing public funds totalling over N273 million and laundering same through their bank accounts.

The first instalment of the bribe money, $500,000 was allegedly paid by Ikuforiji to Okeke at a location in Ikoyi last week after a prominent former governor of Lagos brokered a meeting between the embattled speaker and the trial judge on Bourdillion road, Ikoyi penultimate saturday. The meeting had dragged on into the wee hours of sunday during which our source revealed that Justice Okeke almost emptied a full bottle Moet Rose champagne.

The judge was said to have struck an agreement with the accused to fast track the case and dismiss it for lack of sufficient evidence to warrant conviction. It is after delivering the final ruling that he’s to take delivery of the final installment of $500,000.

Just as the schemes to get Ikuforiji out of the web of criminal trial are intensified, the embattled speaker has again been fingered in a fresh N300 million scam. The speaker who inspite of his trial still collects a whooping N500 million as monthly running cost as first line charge from the state revenue collections, has perfected another way of stealing the Assembly funds.

An aggrieved member of the Assembly told ireports-ng.com today that the Speaker has hired a former member of senate and until recent a Commissioner in Lagos, Senator Tokunbo Afikuyomi as a consultant to organise seminars for councillors and chairmen of the 57 local government councils in the state to be held in Lagos and Accra, Ghana.

ireports-ng.com gathered that already, the seminar for the councillors had been held in Lagos last week while the one for the chairmen is to be held in Accra, Ghana next week. The Speaker is taking out of the state tax payers funds a whooping N300 million for the two seminars, a venture that should not cost tax payers more than N20 million .

Another member of the state Assembly who spoke to ireports-ng.com few minutes ago said of the seminars,”the speaker has not learnt anything please. The seminars he’s taking our money to organise is not the responsibility of the state house of assembly. That is purely the responsibility of the state local government service commission or the ministry of local government. This is purely being done to siphon our scarce resources. Please we need the public to know what we are seeing here.It is really annoying and fraudulent”. The two lawmakers who spoke to ireports-ng.com vowed to report the latest scam to the EFCC.

Ikuforiji was last week arraigned for alleged money laundering before a Federal High Court in Lagos by the EFCC. The Speaker and his Personal Assistant, Mr. Oyebode Atoyebi, who were arraigned on an amended 20-count charge before Justice Okechukwu Okeke, pleaded not guilty and were granted bail. While Ikuforiji got bail on self recognition, the Clerk of the Lagos Assembly, Mr Segun Habiru, stood as surety for Atoyebi.

The arraignment came almost a month after Justice John Tsoho, who was slated to take the case withdrew. Tsoho said his action was on “personal grounds.”

EFCC’s lawyer Godwin Obla informed the court of the existence of a charge against the accused persons and requested that it should be read to them. The defence team, led by Tayo Oyetibo (SAN), did not object to the request. The charge was read to the accused and they pleaded not guilty.

After the arraignment, Oyetibo urged the court to grant bail to the accused persons on self recognition, the Speaker being the third citizen of the state. Obla did not oppose the bail application, but urged the court to attach conditions to Atoyebi’s bail.

Justice Okeke granted bail to Ikuforiji on self recognition and directed that someone stands as surety for Atoyebi. Trial has been slated to start on March 26. Ikuforiji and Atoyebi are being accused of accepting payments, amounting to N273,303,780 from the Assembly without going through a financial institution, an offence contrary to and punishable under Sections 16 (2) (b) and 18 (a) of the Money Laundering (Prohibition) Act, 2011.

The offence was allegedly committed between April 2010 and July 2011.

Mrs Ibru was convicted of bank and securities fraud on October 8, 2010 by a former chief judge of the federal high court, Justice Dan Abutu in Lagos after she was arrested, detained and arraigned in court on a 25 count charge by the Farida Waziri-led EFCC. Beside her plea bargain induced conviction, Cecilia forfeited over N190 billion assets to the government. The forfeited assets are now being managed by the Assets Management Corporation of Nigeria, AMCON.

While her bank, Oceanic Bank PLC where the Ibrus have the controlling shares has been sold to Ecobank PLC, the Chartered Institute of Bankers of Nigeria (CIBN) last December banned her from the banking profession by striking out her name, Cecilia Ibru who was until then a Honorary Fellow of the Institute, from its register of members as provided by Section.16 of CIBN Act.

According to the CIBN, the development is in furtherance, maintenance and observance of ethical standards and professionalism among practitioners of the banking profession in Nigeria.

The institute had earlier removed its former president and former CEO of Intercontinental Bank Mr. Erastus Akingbola, from the board.

According to the CIBN, the decision to bar Ibru was taken in line with the CIBN’s Disciplinary Tribunal on Monday, December 12, 2011, which was confirmed by the Governing Council of the Institute, at its meeting of Tuesday, December 13, 2011.

The Disciplinary Tribunal, comprising eminent members of the banking profession with a retired Justice of the Supreme Court as an Assessor, in a unanimous decision, granted the CIBN’s request that: the name of Cecilia Ibru be struck out of the list of members of the Chartered Institute of Bankers of Nigeria (as provided by S 14(2) of CIBN Act), and that Cecilia Ibru should cease from being a member of the banking profession (as provided by S. 22(1) of CIBN Act).

Faced with total ostracism from her banking constituency, Cecilia who was said to have completed her jail sentence last March, has no option but to step into the family airline business where she presently controls the affairs of the 51 years old Aero Contractors airline.

A competent source in the airline who confirmed the development to ireports-ng.com said “madam has since last year resumed here in our local airport office after a major restructuring that saw Captain Akinlawon George emerge as the MD late last year. Though Captain George is the MD but madam(Cecilia) is the ultimate or final approving authority as we speak.”

Responding to another question, the top Aero official added that “madam does not really come everyday because of health issues and to avoid being seen frequently by passengers, but more often than not she spends quality time in the office two or three times a week.”

According to the information provided by the airline “Aero Contractors of Nigeria was formed in 1959 as a wholly owned by Schreiner Airways B.V of the Netherlands. It became a company with initially 40% Nigerian holding in 1973 and subsequently 60% in 1976.

“In January 2004 Schreiner Airways was bought by Canadian Helicopter Corporation(CHC) who acquired 40% holding of Aero contractors while 60% majority share remained within the Ibru family group.Currently, Aero is wholly owned by the Ibru family.

The Company started in the early 1960′s as an air charter operator.From this humble beginning in the 1970′s,Aero has gone-on to provide both rotary and fixed wing services to all the major oil,gas and related support companies working in Nigeria and in West Africa sub-region.

The airline which commenced scheduled commercial operation in 2000 “currently operates passenger services with the Bombardier Dash8 Q300 aircraft(a modern 50-seat pressurized turboprop aircraft) and the Boeing 737-400 and 500 variants with 104 to 144 seat.”

The EFCC had through the October 2010 court conviction of Cecilia Ibru confiscated a long list of assets which include

(A) List of Property in US

1. 4155 Chariot Way purchased for $452,508,00 on March 12, 2009 and registered to Anita Da silva Ibru,

2. 4145 Chariot Way purchased for $440,105.00 and also registered Anita Da silva Ibru on April 14, 2009.

3. 4139 Chariot Way purchased for $451,629.00 and also registered to Edesiri Onatejerohene Ibru on April 21, 2009.

4. 4149 Chariot Way purchased for $473,657.00 and registered to Obaro and Hirut Ibru also on April 21, 2009.

5. 4141, Chariot Way purchased for $441, 790 on April 13, 2009 for her self.

6. 4143 Chariot Way Purchased for $439,362.00 on April 13, 2009 for self also.

7. 14605 Hawley Lane purchased for $3999,990.00 on July 22, 2008 and registered to her daughter, Janet Ibru,

8. 14630 Hawley Lane purchased for $ 460,703.00 May 17, 2008 and registered to Janet Ibru.

9.14721 Argos Place purchased for $457,950 and registered to Janet Ibru on October 28, 2008.

10. 14719 Argos Place purchased for $451,840.00 on November 26, 2008 and registered to Janet Ibru.

11. 11300 Dappled Grey Way purchased for $987,949.00 on October 7, 2008 and registered to herself.

(B) List of Confiscated Property Elsewhere:

1. Good Shepherd House, IPM Avenue , Opp Secretariat, Alausa, Ikeja, Lagos (registered in the name of Ogekpo Estate Managers)

2. Residential block with 19 apartments on 34, Bourdillon Road , Ikoyi (registered in the name of Dilivent International Limited).

3. 20 Oyinkan Abayomi Street, Victoria Island (remainder of lease or tenancy upto 2017).

4. 57 Bourdillon Road , Ikoyi.

5. 5A George Street , Ikoyi, (registered in the name of Michaelangelo Properties Limited),

6. 5B George Street , Ikoyi, (registered in the name of Michaelangelo Properties Limited).

7. 4A Iru Close, Ikoyi, (registered in the name of Michaelangelo Properties Limited).

8. 4B Iru Close, Ikoyi, (registered in the name of Michaelangelo Properties Limited).

9. 16 Glover Road , Ikoyi (registered in the name of Michaelangelo Properties Limited).

10. 35 Cooper Road , Ikoyi, (registered in the name of Michaelangelo Properties Limited).

11. Property situated at 3 Okotie-Eboh, SW Ikoyi. 12. 35B Isale Eko Avenue , Dolphin Estate, Ikoyi.

13. 38A Isale Eko Avenue , Dolphin Estate, Ikoyi (registered in the name of Meeky Enterprises Limited).

14. 38B Isale Eko Avenue , Dolphin Estate, Ikoyi (registered in the name of Aleksander Stankov).

15. Multiple storey multiple user block of flats under construction 1st Avenue , Banana Island , Ikoyi, Lagos , (with beneficial interest therein purchased from the developer Ibalex).

16. 226, Awolowo Road , Ikoyi, Lagos (registered in the name of Ogekpo Estate Managers).

17. 182, Awolowo Road , Ikoyi, Lagos , (registered in the name of Ogekpo Estate Managers)

18. 12-storey Tower on one hectare of land at Ozumba Mbadiwe Water Front, Victoria Island .

19. 5, Adeola Odeku Street, Victoria Island, Lagos (registered in the name of Casi Properties & Investment Ltd).

20. 18A, Adetokubo Ademola Street , Victoria Island, Lagos (registered in the name of Casi Properties & Investment Ltd).

21. 270, Ozumba Mbadiwe , Victoria Island, Lagos (registered in the name of Casi Properties & Investment Ltd)

22. 270, Ozumba Mbadiwe , Victoria Island, Lagos (registered in the name of Ogekpo Estate Managers Limited).

23. 15,000 square metres of land at Okunade Water Front, Lekki Peninsula .

24. 7,000 square metres of land at Okunade Water Front, Lekki Peninsula – (registered in the name of Melake Properties Limited).

25. 8,000 square metres of land at Okunade Water Front, Lekki Peninsula – (registered in the name of (Casi Properties Limited). 26. 1,000,000 square metres of land in Lekki.

27. 101 hectares of land along Lekki Expressway behind Chevron Nigeria .

28. 103 hectares of land bought from Dom Gas

29. Plot 5, Igbo-Efon, Off Lekki/Ajah Expressway, Victoria Island, Lagos by 1004 (registered in the name of Casi Properties & Investment Ltd)

30. Block 6, Flat 1 &2, Femi Okunnu H/Scheme Phase IV- Lekki (registered in the name of Oceanic Homes Savings & Loans Ltd)

31. One storey building at 50 Marina , Lagos .

32. 10 storey building at 60 Marina , Lagos .

33. 60, Marine View, Apongbon, Marina , Lagos (registered in the name of Dele Oye & Associates)

34. 10, Sobo Arobidu Street , Ikeja, GRA (registered in the name of Jeedab Fibre Limited).

35. Property at 10A Sobo Arobiodu Street , Ikeja (registered in the name of Chiaroscuro Limited).

36. AP Filling Station (Beside Former Hotel Bobby) Onipanu Lagos , (registered in the name of Vivi Oil Investments Limited).

37. Building at 154, Ikorodu Road , Lagos (registered in the name of Casi Properties & Investment Ltd).

38. Ilemba Hausa Road , Ajamgbadi, Lagos (registered in the name of Vivi Oil & Gas Company Limited).

39. Land at Iyana Ipaja Round About, Iyana Ipaja, Lagos , (registered in the name of Vivi Oil Investments Limited).

40. Building at 7, Randle Road , Apapa, Lagos , (registered in the name of Ogekpo Estate Managers Limited)

41. Block 34, Flat 6, LSDPC Housing Estate, Ebute-Metta Lagos (registered in the name of Ogekpo Estate Managers Limited)

42. Three residential towers at Port Harcourt , GRA. 43. 22 Sani Abacha Way, Port Harcourt, GRA (registered in the name of Velvox Investment Company Limited).

44. Metro Plaza Building , 991/992 Zakari Maimalari Street , Central Area, Zone 5, Abuja , (registered in the name of Abinof Food Company Limited).

45. The 4 Floor Building at Herbert Macaulay Way , Wuse Zone 6, Abuja (registered in the name of Casi Properties and Investment Ltd).

46. Metro Plaza Building, ANNEXE B, Zakariya Maimalari Street, Cadastral Zone, AOO, C.B.D, Abuja (registered in the name of MST Properties West Africa Ltd).

47. Flats 1-4, Block D33, Abuja Games Village , Abuja (registered in the name of Convent Trade & Services Limited).

48. Block D33 (Flat 1-4) Games Village , Abuja (registered in the name of Casi Properties and Investment Ltd).

49. Block B40, Flat 5 & 6, Zone 3, Gymnastic Games Village (registered in the name of Oceanic Homes Savings & Loans Limited).

50. Executive Guest House, 4 bedroom Bungalow, Ndanuba Street , Maitama, Abuja (registered in the name of Ogekpo Estate Manager Limited).

51. Executive Guest House, Ali Akilu Crescent , Asokoro, Abuja , (registered in the name of Ogekpo Estate Managers Limited). 29 Real Estate Propert in Dubai 7

52. Residential Property: Dubai 15 Real Property: South Africa Real Property: London, England.

(C)List of Abridged Shares In listed Nigerian Companies:

1. Access Bank Plc – (44,800,000 ordinary shares held by Prisky Gold Nigeria Limited)

2. Africa Petroleum Plc – (3,252 shares held by Prisky Gold Nigeria Ltd)

3. BGL Plc – (8,140,500 shares held by Eniofor Limited)

4. First Bank of Nigeria Plc (275,795,139 shares held through Cloudy Heights Limited, Circular Global International Limited and Bliss Bloss Integrated Services Limited).

5. Dangote Flour Plc – 8,140,500 shares held by Prisky Gold Nigeria Ltd.

6. Dangote Sugar Refinery Plc – (12,480,000 shares held by Prisky Gold Nigeria Limited).

7. Fidelity Bank Plc – (12,500 shares held by Prisky Gold Nigeria Ltd).

8. First City Monument Bank Plc – (7,142,800 shares held by Prisky Gold Nigeria Limited).

9. Glaxo SmithKline Consumer Plc – (119,740 shares held by Prisky Gold Nigeria Limited)

10. Guaranty Trust Bank Plc – (110,000 ordinary shares held by Prisky Gold Nigeria Ltd)

11. Japaul Oil Plc – (25,316,400 shares held by Prisky Gold Nigeria Limited)

12. Nestle Nigeria Plc (1,915 shares held by Prisky Gold Nigeria Limited)

13. Nigerian Bottling Company Plc – (11,383,000 shares held by Prisky Gold Nigeria Limited)

14. Oando Plc – (334,367 shares held by Prisky Gold Nigeria Limited and 13,200,000 shares held by Velvox Investment Company Limited)

15. Oceanic Bank Intercontinental Plc – (254,100 shares held by Prisky Gold Nigeria Limited and 431,201,702 shares held by Africa Lloyd Limited)

16. Oceanic Vintage Fund – (100,000,000 units held by Prisky Gold Nigeria Limited)

17. Bank PHB Plc – (93,800,100 shares held by Prisky Gold Nigeria Limited)

18. R T Briscoe – (585 shares held by Prisky Gold Nigeria Limited)

19. Total Nigeria Plc – (24,118,588 shares held by Prisky Gold Nigeria Limited)

20. Transcorp Plc – (200,000,000 shares held by Prisky Gold Nigeria Limited) 21. UAC of Nigeria Plc – (1,125, shares held by Prisky Gold Nigeria Limited)

22. UPDC Nigeria Plc – (4,029 shares held by Prisky Gold Nigeria Limited)

23. Unilever Nigeria Plc – (145,850 shares held by Prisky Gold Nigeria Limited)

24. United Bank for Africa Plc – (109,121 shares held by Prisky Gold Nigeria Limited)

25. Union Bank of Nigeria Plc – (13,300,000 shares held by Prisky Gold Nigeria Limited)

26. Vitafoam Nigeria Plc – (1,197 shares held by Prisky Gold Nigeria Limited)

27. Lafarge Cement Wapco Nigeria Plc (23,142 shares held by Prisky Gold Nigeria Limited).

28. Zenith Bank Plc – (10,280,000 shares held by Prisky Gold Nigeria Limited)

29. Oceanic Bank Plc – (2,323,841,722 shares held by Arata Nigeria Limited)

30. Oceanic Bank Plc – (1,631,250,000 shares held by Meeky Ent. Ltd) 31. Oceanic Bank Plc – (1,012,500,000 shares held by Mas Mackoy Ltd)

32. Oceanic Bank Plc – (431, 202,702 shares held by Africa Lloyd Limited)

33. Oceanic Bank Plc – (345,833,332 shares held by Ibru C.A. .O)

34. Oceanic Bank Plc – (142,282,300 shares held by Casi Properties and Investment). 35. Oceanic Bank Plc – (98,993,775 shares held by Zatlins Ventures Limited A/c 385359)

36. Oceanic Bank Plc – ( 94,159,575 shares held by Comvet Trades & Services Ltd)

37. Oceanic Bank Plc – ( 52,078,175 shares held by Mac-Mackoy Limited)

38. Oceanic Bank Plc – ( 44,000,000 shares held by Oceanic SSITF)

39. Oceanic Bank Plc – (30,758,500 shares held by Dilivent International Limited)

40. Oceanic Bank Plc – (25,000,000 shares held by Cecilia Ibru)

41. Oceanic Bank Plc – ( 18,440,990 shares held by BFCL Investment A/C)

42. Oceanic Bank Plc – ( 12,212,500 shares held by Ogekpo Industries Ltd)

43. Oceanic Bank Plc – ( 12,121,225 shares held by Zatlins Ventures Ltd, A/C 148068)

44. Oceanic Bank Plc – ( 10,000,000 shares held by Micheal Cecilia Educational Foundation).

45. Oceanic Bank Plc – ( 4,955,625 shares held by Ogekpo Estates Limited)

46. Oceanic Bank Plc – (1,250,000 shares held by Ibafon Oil Ltd).

47. Oceanic Bank Plc – ( 292,775 shares held by Melake Enterprises Ltd).

48. Oceanic Bank Plc – ( 292,775 shares held by Melake Properties Ltd).

49. Oceanic Bank Plc – ( 292,775 shares held by Melake Technologies Ltd).

50. Oceanic Bank Plc – ( 78,993,750 shares held by Spanord Investment Co. Ltd).

51. Oceanic Bank Plc – ( 77,500,000 shares held by Aggregated Property Limited).

52. Oceanic Bank Plc – (77,500,000 shares held by Quartz Property Company).

53. Oceanic Bank Plc – 73,500,000 shares held by Arnott & Callman Investment).

Cars, and personal assets at 20 Oyinkan Abayomi Street , Victoria Island

Two aircrafts worth $100 million

The latest revelation is coming even as ireports-ng.com gathered that Mr Ikuforiji has begun a structured payment of a bribe of $1 million USD to Justice Okechukwu Okeke of the federal high court, Lagos where the EFCC last week re-arraigned Ikuforiji and his Personal Assistant, Oyebode Atoyebi for stealing public funds totalling over N273 million and laundering same through their bank accounts.

The first instalment of the bribe money, $500,000 was allegedly paid by Ikuforiji to Okeke at a location in Ikoyi last week after a prominent former governor of Lagos brokered a meeting between the embattled speaker and the trial judge on Bourdillion road, Ikoyi penultimate saturday. The meeting had dragged on into the wee hours of sunday during which our source revealed that Justice Okeke almost emptied a full bottle Moet Rose champagne.

The judge was said to have struck an agreement with the accused to fast track the case and dismiss it for lack of sufficient evidence to warrant conviction. It is after delivering the final ruling that he’s to take delivery of the final installment of $500,000.

Just as the schemes to get Ikuforiji out of the web of criminal trial are intensified, the embattled speaker has again been fingered in a fresh N300 million scam. The speaker who inspite of his trial still collects a whooping N500 million as monthly running cost as first line charge from the state revenue collections, has perfected another way of stealing the Assembly funds.

An aggrieved member of the Assembly told ireports-ng.com today that the Speaker has hired a former member of senate and until recent a Commissioner in Lagos, Senator Tokunbo Afikuyomi as a consultant to organise seminars for councillors and chairmen of the 57 local government councils in the state to be held in Lagos and Accra, Ghana.

ireports-ng.com gathered that already, the seminar for the councillors had been held in Lagos last week while the one for the chairmen is to be held in Accra, Ghana next week. The Speaker is taking out of the state tax payers funds a whooping N300 million for the two seminars, a venture that should not cost tax payers more than N20 million .

Another member of the state Assembly who spoke to ireports-ng.com few minutes ago said of the seminars,”the speaker has not learnt anything please. The seminars he’s taking our money to organise is not the responsibility of the state house of assembly. That is purely the responsibility of the state local government service commission or the ministry of local government. This is purely being done to siphon our scarce resources. Please we need the public to know what we are seeing here.It is really annoying and fraudulent”. The two lawmakers who spoke to ireports-ng.com vowed to report the latest scam to the EFCC.

Ikuforiji was last week arraigned for alleged money laundering before a Federal High Court in Lagos by the EFCC. The Speaker and his Personal Assistant, Mr. Oyebode Atoyebi, who were arraigned on an amended 20-count charge before Justice Okechukwu Okeke, pleaded not guilty and were granted bail. While Ikuforiji got bail on self recognition, the Clerk of the Lagos Assembly, Mr Segun Habiru, stood as surety for Atoyebi.

The arraignment came almost a month after Justice John Tsoho, who was slated to take the case withdrew. Tsoho said his action was on “personal grounds.”

EFCC’s lawyer Godwin Obla informed the court of the existence of a charge against the accused persons and requested that it should be read to them. The defence team, led by Tayo Oyetibo (SAN), did not object to the request. The charge was read to the accused and they pleaded not guilty.

After the arraignment, Oyetibo urged the court to grant bail to the accused persons on self recognition, the Speaker being the third citizen of the state. Obla did not oppose the bail application, but urged the court to attach conditions to Atoyebi’s bail.

Justice Okeke granted bail to Ikuforiji on self recognition and directed that someone stands as surety for Atoyebi. Trial has been slated to start on March 26. Ikuforiji and Atoyebi are being accused of accepting payments, amounting to N273,303,780 from the Assembly without going through a financial institution, an offence contrary to and punishable under Sections 16 (2) (b) and 18 (a) of the Money Laundering (Prohibition) Act, 2011.

The offence was allegedly committed between April 2010 and July 2011.

A dependable source in the EFCC told ireports-ng.com that Babalakin was arrested in Lagos on Saturday and detained at the agency’s facility located off Awolowo road, Ikoyi, Lagos where he was interrogated till the following day, Sunday. A source in the team of operatives that quizzed Babalakin said the lawyer turned businessman was interrogated for allegedly providing his company bank accounts through which Ibori transferred over N1.6 billion to offshore accounts.

The funds were said to have been moved from Delta state government accounts through companies owned by Babalakin under the guise of purchasing a jet which was never bought. The senior lawyer turned businessman is the Chairman of Bi-Courteny Aviation which owns the terminal two of the Lagos airport, Ikeja.

The latest information linking Babalakin to funds stolen by Ibori was said to have been provided by the Met Police in London which wants more evidence to prosecute Ibori over money laundering charges in a Southwark court. Ibori’s wife,Nkoyo; his sister,Christie; his mistress, Udoamaka and lawyer have already been convicted and serving various jail terms in the UK.

Though Babalakin has been granted administrative bail on Sunday, there are indications that he may be invited for further questioning if the Met Police that needs his statement is not satisfied with the information already obtained from him.

She is specifically accusing the Managing Director of First Trustees, a subsidiary of First Bank PLC, Mr Olumide Oduntan and another of Akpe’s business partner, Professor Herbert Orji of diverting her late husband’s multi-billion naira investments in major companies namely: First Stock Brokers, First Finance and Trust, and First Stock Property.

Felix Akpe, a paraplegic, died on March 19th 2010 in Wesley hospital, Hattiesburg, Mississippi, United States. Before he took ill and his eventual death, he was Chairman of a number of companies including First Stockbrokers, First Pension Consultants. Before setting up businesses, he was said to have retired as Executive Director, International Division of United Bank for Africa, UBA.

According to Ms Momodu, the only child of this same man, Ada is almost dropping out of school due to her inability to pay her fees. In her words, “He (Felix) opened FELIX AKPE CHILD EDUCATION TRUST for his only child, a minor attending Loyola Jesuit College, LJC Abuja. Herbert Orji and Olumide Oduntan, have diverted the funds saying there is nothing there.

“The lie they are peddling, especially Herbert Orji, the Former UBA London General Manager/Representative, and Progress Bank MD is that Felix Akpe, a paraplegic who set up an Endowment Educational funds for Gbenga Osho’s children with Corner Stone Insurance when he died suddenly, would not have provided for a child he was blessed with against all odds?

“The traducer behind First Trustees lies and determination to withhold these funds for personal benefits is Herbert Orji. I am not crazy but my late husband and I could not have gone through all that trouble to have a child for some greedy and wicked Nigerians to have ganged up against us like this. Even a prostitute or a maid who lived or served an able bodied person deserves some pension after long service, not to talk of having been married to a paraplegic in a Nigerian society since 1991 and to end up like this, punishing an innocent child?! They boast that they have money to stall the case until I give up.”

She claimed that Ada was born In Scottsdale, Arizona, USA after several IVFS treatments at Mayo Clinics in Rochester and Scottsdale, while she lived there with their child before their return to Nigeria.

She wondered how “Felix Akpe who was a retired Executive Director of UBA, the founder of First Stock Brokers, First Finance and Trust, First Stock Property, all in Victoria island, would not have provided for his only child?

She added that “the companies are a going concern and have all been taken over by the board members saying that the transfer made to Ada and I, the mother can only be effected If we pay up his debt of N35million and that the companies are not his.”

She alleged that her search in the Corporate Affairs Commission, CAC in Abuja has however revealed that Akpe was the largest shareholder in the three companies.

While pleading with well meaning Nigerians to help her prevail on the management of the companies to release funds put aside for her daughter’s education, she added that “I have graduate degrees, am a financial planner, and not an illiterate who doesn’t know the importance of education. Can Orji and Oduntan love my daughter more than I do? My only child? What is happening in Nigeria is so cruel that Felix Akpe would turn in his grave to find Ada suffering as a result of the greed and cruelty that has become the order of the day in Nigeria.”

She also dismissed claims that the deceased had divorced her before his death, wondering how that should in any way affect the education and welfare of their only child.

“They say we were divorced. If we were, where are the papers? Why did he on the 9th of march, 2010 at Redddington Hospital Vitoria Island before he was rushed in an ambulance to Wesley hospital Mississippi sign the payment of the expression form attached as 85% to Ms Julana Momodu–relationship –my wife? Could he have filed for the divorce in the ICU when in Wesley hospital, Mississippi?”, an apparently enraged Juliana asked rhetorically.

Felix and daughter

In the letter made available to ireports-ng.com by a top official of INEC, the PDP leadership ordered Jega to restore Dickson’s name on the list to save the party of imminent failure at the polls. President Jonathan had manipulated the party machinery to deny the incumbent governor of Bayelsa, Timipre Sylva the party ticket to contest the election. This has led to a long drawn legal battle between the governor and the party and this informed INEC’s decision to exclude the party from its list pending the determination of the suits by the court.

Miffed by Jega’s effrontery, the party’s national leadership on Friday fired him a subtle threat which is reproduced below:

January 13, 2012
Prof. Attahiru Jega
Chairman,
Independent National Electoral Commission (INEC)
Maitama – Abuja

BAYELSA STATE GOVERNORSHIP ELECTION: EXCLUSION OF PDP’S CANDIDATE – HON. HENRY SERIAKE DICKSON
We received with profound shock the widely publicized decision of your commission to exclude our candidate, Hon. Henry Seriake Dickson from the list of candidates to participate in the election coming up in February 2012.
It is regrettable that the above prejudicial decision was taken by your commission without affording us the opportunity of a hearing in the matter.

Our party is particularly taken a back that your commission volunteered this embarrassing extra-judicial decision without a judgment or court order to the effect. We are at a complete loss as to why your commission directed conduct of primary election, received /accepted the name of the candidate that emerged there from, published same in Bayelsa State and now turn full circle to exclude the same name without a prompting known to us. May we humbly remind you sir, that we know no provision in the Electoral Act which empowers your commission to exclude a candidate already accepted under S. 31(i) of the Act.

In our humble opinion, the power to do so is vested exclusively in a court of competent jurisdiction. We have no doubt that you appreciate the gravity of the damage your publicized decision to exclude our candidate is capable of doing and has actually done to our electoral fortunes in Bayelsa State. Such a pronouncement , coming from an umpire, which your commission is, without a court order portends a grave danger to our party as same is seen as a tactical campaign to the electorate and our massive supporters to seek an alternative. This is unacceptable!

In the circumstance of the above and with utmost humility and sense of responsibility, we wish to urge that you cause your commission to review its position in this matter and publish our candidate’s name along with others while awaiting the outcome of the pending proceedings.

Your commission is urged to appreciate that the right to go to court S.87 (9) of the Electoral Act is circumscribed by the need to allow the election to proceed while the case pends. Exclusion of our candidate during the pendency of a suit is not in the spirit of S. 87 (9) of the Electoral Act 2010.

We would appreciate your timely action in this regard to minimize the damaging effect of your decision on our great party. As a major stakeholder in the Nigeria project, we would continue to embrace dialogue in the resolution of any grey area of our democracy.

While anxiously counting on your understanding, please do accept the assurances of our highest regard and due consideration.

Yours Sincerely,
Alh. Abubakar kawu Baraje,
Ag. National Chairman

A rundown of the documents made available to ireports-ng.com indicate that Adoke is a major investor in Oando Oil which has taken over N228 billion out of the N1.4trillion shared by about 100 oil marketers between January and August, 2011. The Minister has about N1.5 billion investment tucked in Oando Oil PLC. Apart from Oando, available documents also show that Adoke is equally a major investor in Eterna Oil which has within the same period benefitted about N5.57 billion from the fuel subsidy cake. He is said to have about N1 billion investment in the company, with another N2 billion tucked in a company called Novasys Ltd.

It has also been discovered that the Minister has his hands and hidden investments in major banks in the country. Some of them include about N400 million in Oceanic Bank; aboutN200 million in UAC properties; about N20 million in Guaranty Trust Bank; about N360 million in Access Bank; about $400,000 US dollars in MTN; about N1 billion in Japaul Oil& Maritime; about N15 million in Bank PHB; about N100million in First Bank; about N20 million in FCMB and aboutN6 million in Unity Bank PLC among others.

One of our sources hinted that the Minister has already begun moves today to begin the process of depleting funds in the four bank accounts exposed in our earlier story in collaboration with the account managers

ireports-ng.com gathered that it is almost certain that the lawmakers will take side with the people on the fuel subsidy removal imbroglio by directing the federal government to revert to the old price of N65 per litre, which was the cost of a litre of fuel before the government jerked it up to N141 as a new year gift to millions of the Nigerian masses who are already bearing the brunt of an inept administration.

The presidency and the leadership of the ruling Peoples Democratic Party ,PDP, are however said to be uncomfortable with the plan by the lawmakers which they fear may fuel the planned protest by citizens across the country. As a result, ireports-ng.com learnt that they have mounted immense pressure on the leadership of the House especially, Speaker Aminu Waziri Tambuwal to stop the emergency session. The speaker has however rebuffed all the overtures and pleas from both the presidency and the PDP which also fear that the emergency meeting may provide a take off point for lawmakers who are already gathering signatures for the impeachment of Mr Jonathan.

It was learnt that series of meetings have been going on in the presidency since the lawmakers announced their plan to hold an emergency session. It was revealed that the presidency has contacted some notable Traditional and Religious leaders, State governors , ministers, political leaders as well as former presidents and Heads of State on the need for them to wade in and  prevail on the lawmakers to put off the emergency session .

It was however gathered that all the efforts had failed as the Speaker was said to have stood his ground that the session would hold, telling the government emissaries that the House “Can not be blind to issues in the country that requires urgent attention”

Speaker  Tambuwal was quoted as saying that “The leadership of the House opted to meet on Sunday to prevent the picketing of the National Assembly should the lawmakers failed to take appropriate  action having received treat text messages along  with other Principal officers accusing them of being insensitive to the plights of the masses.”

ireports-ng.com gathered that when it was obvious the leadership of the House will not shelve the emergency session, the presidency has hatched another plot to discredit the House leadership over insistence to hold tomorrow’s emergency session. Some government agents were said to have gone to town with various anti Tambuwal text messages urging Christians to rise against the decision of the House to convene on Sunday.
According to one of such text messages “the Speaker of the House Representatives has scheduled sitting on Sunday . This is an insult to Christianity and a continuation of Boko Haram war against  non-Muslims. This should be condemned by all God-fearing Nigerians. Please broadcast to everyone.”

The leadership of the House has however said that the House derives the power to sit on Sunday from Order 5, Rule 18 sub-session 2 of the House standing Rules and that most members who are Christians and Muslims agreed to the Sunday session after due consultations with them along with other principal officers of the House.

Amid the rising tension in the nation’s capital, Abuja and across the country, a source in Abuja told ireports-ng.com that all the Principal officers of the House of Representatives have already gone underground making it impossible to have  access to them by government emissaries.