One of the cases
operatives of the Special Fraud Unit (SFU) are trying to establish an iron clad
case in order to try the ex-governor
successfully is the N4B scam, which was allegedly perpetrated during his tenure
in office through the defunct Intercontinental bank.
Senator Saraki
had been invited, interrogated and released on bail by the Special Fraud Unit
(SFU) in connection with a petition we
garthered was written by the management of a petroleum company,Joy Petroleum
Limited, based on the protracted problem they have with the former management
of the bank bothering on denial of access to its corporate bank account with
the absorbed Intercontinental Bank on claims that the account was a top
management account.
The case was subsequently recommended to
be taken to an appropriate court of law
by the Inspector General of Police after he had carefully studied the casefile
and gotten appropriate legal advice, but investigations revealed that the case
is yet to see the light of the day.
According to sources, strings pulled from the
office of the Attorney General of the Federation, who happens to be a friend of
Senator Saraki, Mohamed Adoke (SAN), by the senator, has been preventing the
due process of the law from taking its course.
Joy Petroleum,
according to our investigations came
into existence in 1999 with the late Mr Mathew Obahor, who was within the year
2003 to 2007, the personal assistant to the Governor, as the managing director
until his death as a result of an ailment that lasted for over a year.
After his death,
we gathered that the new helmsman was pestered repeatedly and asked by
Intercontinental Bank to pay up a loan of 11million naira purportedly granted
to the late director, a loan said to
have been serviced with a left over of 4million which later rose to 11million
in less than a year all within a time
interval that was not too far from the time a new director came on board to
assume the position of managing director.
The new managing director Paul Obahor, who is the brother of the deceased
managing director, Mathew, was said to have
requested for the statement of account from the then existing
Intercontinental Bank in order to continue the operation of the company and
also verify the authenticity of the said loan and other transactions but was denied total access to the account on
the basis that it was a 'top management account”, while Paul stood his ground
on vetting the account, the bank too was unyeiding and resolutely refused him
access to the account, not only that the
bank did not relent in its effort to pursue the 11million naira claim they said must be paid back despite the
outright denial of the new director to the account through which the loan was
processed, this according to a dependable source was later discovered to be a
contrived ploy by the bank acting hand in hand with some forces whose
identities are now falling into place to discourage the new MD from further
seeking the sacred account.
Sources said
that following the petition from the new director of Joy Petroleum to the
Special Fraud Unit (SFU), it was discovered by security agents that the
company's account had been used to access loans in billions of naira, which was
not paid back on several occasions and done without observing the due process
involved in granting such magnitude of loan.
Findings also
revealed that thecontroversial loans
were always instructed by the Managing
Director of the bank, Mr Lai Alabi to the Joy Petroleum account officer.
Mr Lai Alabi who
assumed the position of the Managing Director of Intercontinental Bank after
the saga of the former MD, Mr Erastus Akingbola, was once a top staff of
Dicetrade Limited and the defunct society Generale Bank which Senator Saraki
was a vice Chairman.
Alabi was also linked with Shonga Farms, owned
by Kwara State Government, which came into existence, when the Senator was the
governor of Kwara State.he was said to have ensured that joy petroleum had a less scrutinized,
and non-rejectable admittance to loans
from inception till December 2009,
when Mathew Obahor was
bedridden and eventually died.
Investigations
also revealed that this same sacred account contained how joy petroleum enjoyed special loans
even after the death of the late
director and all these were approved
with appended forged signature of the
deceased and without the knowledge of other directors of the company alongside
several forged company resolutions.
Our source
revealed that several billions of naira were fraudulently loaned between the
years 2006 to 2010 including a sum of over N4 billion loaned after the death of
the managing director who we were told was the
sole signatory to the account of Joy Petroleum Company without the
knowledge of the father and mother of the deceased who made up the board of directors of the company.
The fund was
said to have been requested on the ground that Joy Petroleum, unknown to the
new managing director and other registered
directors of the company, stands as the parent company to Skyview
Properties and Dicetrade limited, all linked to Senator Bukola Saraki. It was
also discovered that part of the loan
was used for the resuscitation of the defunct Society Generale linked to the
new Heritage Bank.
These and other
damning facts we garthered were uncovered at a time when access bank were in
the process of reconciling the accounts of intercontinental bank before the
takeover,the investigators handling the case we were told only had a
breakthrough when access bank came into the picture, they got copies of the
controversial “management account” which has now become the albatross of Bukola
saraki.
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