N450m fraud: EFCC amends charges against Belgore, joins Allison-Madueke

A Senior Advocate of Nigeria, Dele Belgore and a former Minister of National Planning, Professor Abubakar Sulaiman, were on Monday, fingered as beneficiaries of a $115,010,000 lodged in a bank by a former Minister of Petroleum, Diezani Allison-Madueke.

An official of a bank, Mr Timothy Olaobaju, who revealed this before a Federal High Court sitting in Lagos, on Monday, narrated how Diezani gave instructions to change it into naira and distribute it among individuals in the 36 states of the federation.

Belgore and Sulaimon, allegedly, received N450 million.

Olaobaju said this on Monday when he appeared as a prosecution witness before Justice Rilwan Aikawa where Belgore and Sulaiman  were  being tried for alleged money laundering involving N450 million

Charged along with the SAN and the ex-minister is Diezani, who is said to still be at large.

The EFCC had arraigned Belgore and Sulaiman on February 8, but they were re-arraigned on Monday on an amended charge which included the name of Diezani.

Upon their re-arraignment on Monday, Belgore and Sulaiman pleaded not guilty to the five charges.

Led in evidence by the EFCC prosecutor, Mr Rotimi Oyedepo, the witness said that sometimes in April 2014, “our managing director, Mr Nnamdi Okonkwo, gave a directive that certain companies and individuals would pay into an account with our bank some amounts of money. The purpose of the payment was not disclosed.

“Over the period, thereafter, some amounts were paid into the account. The total sum was $115,010,000.

“On March 27, 2015, there was an instruction from the former Petroleum Resources, through our managing director, that the funds in the account should be converted into naira and paid to certain individuals of which the list of beneficiaries was sent to our managing director and the amount to be paid to them in naira.

“The funds were paid according to Allison-Madueke’s instructions.

“On the list sent to our branch, the names of the defendants were on that list

“The defendants are not customers of our bank.

“The instruction was that the sum of N450 million should be paid to Belgore and Sulaiman.

“They both received the money and they filled the receipt of payment as evidence of receipt of the money and acknowledgement of same.”

The witness said Belgore and Sulaiman signed separate receipts of payment for the same N450 million on March 26, 2015.

The court admitted both receipts of payment in evidence and marked them as exhibits 1 and 1a.

Asked by the prosecutor whether any cheque was issued in favour of Belgore and Sulaiman in respect of the fund, the witness answered in the negative.

Asked whether the N450 million was credited into any account, the witness said: “to my knowledge, the N450 million was not credited into any account.”

Belgore’s counsel, Chief Ebun Shofunde, asked for an adjournment, as he said most of what the witness said were not in the proof of evidence, Sulaiman’s lawyer, Olatunji Ayanlaja, aligned himself with Shofunde.

Justice Aikawa, consequently, adjourned the matter till Tuesday.

In the charges, Sulaiman and Belgore, were accused of conspiring between themselves to commit the offence on March 27, 2015.

The duo were accused of making a cash transaction of N450 million on March 27, 2015, without going through any financial institution.

The EFCC claimed that the defendants paid N50 million to one Sheriff Shagaya.

The EFCC said the cash sum was above the lawful threshold permitted by the Money Laundering (Prohibition) Act.