Thursday, February 7, 2019

Bank manager, INEC officials among EFCC’s 40 convictions



Juliana Francis
The Economic and Financial Crimes Commission (EFCC) has secured 40 convictions within January 2019 alone.
The convictions, however, are a cumulative of convictions secured across the Commission's zonal offices.

Among the convictions are those of two former officials of the Independent National Electoral Commission (INEC), who were sentenced to a total of 91 years jail term. The two forfeited their property to the Federal Government.
They were found guilty of laundering N264.8m in the build up to the 2015 general election, a sum which was believed to be their share of the $115m, illicitly dispensed by the former Minister of Petroleum Resources Diezani Alison-Madueke.
Another conviction of interest is that of a fraudster, Ibrahim Suleiman, who defrauded the former First Inland Bank, now FCMB Plc of the sum of N400, 700, 000.
Acting Head, Media and Publicity, Tony Orilade said: “The money was fraudulently diverted from an account domiciled in First Inland Bank to the convict's account from where he transferred various sums to different accounts. He bagged 32 years jail term. Also of interest is that of Adewale Dalmeida, a staff of Dangote Cement Group. He was sentenced to five years jail term for the diversion of nine trucks that were loaded with 800 bags of cement each, valued at N15m each, which belong to his employer.”
Also among the convicts is Efe Egube, a former bank manager in the defunct Oceanic Bank. Egube was arraigned alongside his company, Ocean Energy Trading and Services Limited, sometime in 2014 on a 19-count charge that bordered on obtaining the sum of N50, 049,000 by false pretence, an offence that runs contrary to Section 1(1) and (3) of the Advance Fee Fraud and Other Related Offences Act No. 14 of 2006. He got seven years of imprisonment in Lagos State High Court, Ikeja, presided by Justice Atinuke Ipaye.
Orilade said: “Given the new trends in internet fraud, the enhanced counter- fraud strategies of the Commission in this direction have also been yielding good dividends. A breakdown shows that the Lagos office earned 20 of the convictions, followed by the Abuja office which got nine. Six of the convictions were recorded by the Port Harcourt and Kaduna offices at three respectively. Kano recorded two, while Benin, Ibadan and Gombe offices had one conviction each.”
Orilade said that the Commission specifically wished to mention that a young man had to plead guilty for collecting money for products not delivered by an online store called "Beat Classic Stores" created to sell shoes and bags online. He was sentenced to six months in jail.
Following the pronouncements of the Acting Chairman of the Commission, Ibrahim Magu, the Commission can safely say that its January record was only a sign of bigger harvests to come. 
Magu, it could be recalled, assured recently of the Commission’s resolve to surpass its own 2018 record-setting 312 convictions in its efforts to rid the country of economic and financial crimes and effectively coordinate the country's efforts in the global fight against money laundering and terrorism financing.

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