It is no longer news that Economic and Financial Crimes Commission, EFCC has reportedly uncovered an estate suspected to belong to the former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke but how she was able to fund the estate is the main news now.
Expectedly, the monies used will be channelled through the banks to the various contractors handling the construction of the estate located on Diepreye Alamieyeseigha Street, off Goodluck Jonathan Road in Yenagoa, Bayelsa State.
Due to her position as the then Petroleum minister, its expected she would deal directly with the bank chiefs in the movement of the cash. The bank CEOs have the final authority to authorise the payment of such huge cash to the expected ‘beneficiaries’.
According to the anti-graft agency, the EFCC on friday said that the huge cash was wired from NNPC accounts to Fidelity Bank before it was given to Sterling Bank , Access Bank Plc, First Bank Plc and Fidelity Bank Plc for safe keeping.
EFCC said the banks “aided and abetted the massive fraud perpetrated by the minister.”
Access Bank is holding $5million out of the total sum.
The breakdown of how the loot was hidden is as follows: Access Bank ($5million); Sterling Bank (N23, 446, 300,000); and First Bank (N9,080,000,000).
“Some bank chiefs, maybe about five, may face trial but we are not making this a priority now. We want to retrieve every dollar stolen from NNPC accounts.
“Some of these bank chiefs are pleading that we should allow them to refund the funds credited to them without prosecution. But the weight of evidence will determine our position at the end of the day.
“The truth is that many bank chiefs were engaged by the ex-minister to perpetrate fraud.
“So far, all the banks implicated are cooperating with the EFCC. We hope that in two weeks’ time, the $153million would have been forfeited to the Federal Government, the EFCC said at the Federal High Court in Lagos.
Reports have it that the five bank chiefs are likely to face trial over the $153million allegedly withdrawn by the ex-minister from the accounts of the Nigerian National Petroleum Corporation( NNPC) in December 2014.