22 May 2018

Nigeria: Shagari, Four Others Docked for Alleged N500 Million Fraud

The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned a former Minister of Water Resources, Mukhtar Shagari, alongside four others before Justice Idrissa Kolo of the Federal High Court Sokoto on a five count charge of Conspiracy and Money Laundering to the tune of N500 million.

Charged along with the former minister are Abdullahi Wali, Ibrahim Gidado, Nasiru Bafarawa and Ibrahim Milgoma.

Trouble started for the defendants after the commission received intelligence that the accused person received various sums from the $115 million allegedly disbursed by a former Minister of Petroleum Resources, Deizani Allison Madueke to senior members of the Peoples Democratic Party and officials of the Independent National Electoral Commission, INEC, to influence the outcome of the 2015 presidential elecvtion.

The defendants allegedly benefitted the N500 million which was not distributed through any financial institution in flagrant violation of provisions of the Money Laundering Prohibition Act.

One of the charge read that "You Mukhtar Shehu Shagari, Ibrahim Gidado and Ibrahim Milgoma sometime in March 2015, within the justification of this honourable court did conspire among yourselves to receive cash payment of the sum of N500,000,000 (Five Hundred Million Naira Only) from one Abdulrahaman Ibrahim without transacting through a financial institution and thereby committed an offence contrary to section 18(a) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 16(2) of the same Act."

All the defendants pleaded not guilty to the charge when it was read to them.

Prosecution counsel Johnson Ojogbane requested a date for trial in view of the plea of the defendants and also asked that the defendants be remanded in prison custody.

The counsel representing the 1st,3rd and 4th defendants, Ibrahim Abdulaziz, as well as counsel for the 2nd and 5th defendants, Ibrahim Idris and L.A Abdulkadir, respectively applied for the bail of their clients pending the determination of the case.

Responding, Mr Ojogbane confirmed that he was served with the various bail applications by the applicants but also reminded the court that he was only served on Monday and therefore needs time to respond.

Justice Idrissa after listening to the arguments exchanged between the parties remanded the defendants in police custody till Thursday for the hearing and determination of bail.

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