Idi Musa, an investigating officer at the Economic and Financial Crimes Commission (EFCC), has described how Ifeanyi Okeke who was a deputy general manager at the Zenith Bank fronted for Godwin Emefiele to fraudulently acquire real estate investments across Nigeria.
Musa spoke under oath before the High Court of the Federal Capital Territory, according to a court affidavit published by Empowered Newswire on Tuesday. The testimony formed part of the basis upon which the court granted a permanent forfeiture of 753 uncompleted residential estate duplexes on Monday, the EFCC’s single largest asset recovery on record.
Musa explained that Emefiele, using his position at the time, negotiated kickbacks with foreign exchange-needing companies and companies awarded contracts by the Central Bank of Nigeria.
HOW EFCC TRACED THE ESTATE TO EMEFIELE
Omeke ran various errands for Emefiele while acquiring building properties in Lagos and Abuja, including perfecting the deals through legal instruments.
Upon searching Omeke’s office in Lagos, title documents of assets which the anti-corruption agency believed were proceeds of crimes were discovered.
“…upon investigation, it was revealed that one Ifeanyi Omeke, a Deputy General Manager and Head, Litigation of Zenith Bank Plc, worked closely with Godwin Emefiele and ran several errands for him which included purchase and perfection of title documents for several properties located in highbrow areas of Lagos and Abuja,” Musa said.
“…upon a search conducted in the office premises of Mr Ifeanyi Collins Omeke by the operatives of the Commission, several property title documents were recovered which investigation revealed were purchased with sums traced and reasonably believed to be proceeds of unlawful activities to wit; kickback from allocation of Foreign exchange and award of contract.
“That upon conclusion of investigation, the Commission applied to the Federal High Court sitting in Lagos to forfeit the properties located and situate in Lagos recovered from Mr Ifeanyi Collins Omeke, properties investigation revealed were purchased with sums traced and reasonably
believed to be proceeds of unlawful activities.
“That during the cause of the search at the office premises of Mr Ifeanyi Collins Omeke by the operatives of the Commission highlighted in paragraph 4 (e) above, the Commission also recovered title documents of a landed property measuring 150,462.86 metre square lying and situate in Abuja.”
In order to locate the location of the properties in Abuja, “the Commission wrote a letter of investigation activity to the Abuja Geographical Information Systems (AGIS) requesting for a search on the said property. On the 17th day of September, 2024 the said property was located with the assistance of a surveyor from AGIS using search results and coordinates.”
Furthermore, the anti-corruption agency obtained account packages of “persons to have ever associated with the property, letters of investigation were sent to relevant banks requesting for the opening packages of the said companies used in funding and developing the said property. That investigation further revealed that the said property has been abandoned and deserted with only a guard manning the said property since June 2023 upon the arrest of the erstwhile CBN Governor.”
TRANSFER OF LARGE FUNDS VIA COMPANIES
According to the court filing, the EFCC’s investigation revealed the following details about the property further establishing Emefiele’s ownership:
“The said land known as Plot 109, lying and situate at Cadastral Zone C09 was initially allocated to Windermere Nigeria Limited on the 15th day of September, 2010 for mass housing development.
“The title of the said property was later transferred to M.G Property Limited via an executed Deed of Assignment. Sometime in August 2021, the said M.G Properties transferred its title to H & Y Business Global Limited.
“The H & Y Business Global Limited is also being investigated for acquiring one of the properties forfeited in the interim by the Federal High Court sitting in Lagos, for the sum of N2,200,000,000 (Two Billion, Two Hundred Million Naira) from Nigeria Minting and Printing Ltd for and on behalf of the then Central Bank of Nigeria Governor, Mr Godwin Emiefele.
“The monies H & Y Business Global Limited used for the acquisition of the property were not from their legitimate income but rather were fraudulently procured by Godwin Emefiele and his cronies to disguise and conceal the unlawful origin of the funds used in the acquisition of the properties.”
Three companies played key roles, receiving and paying large sums of money in the fraudulent scheme.
Bank statements of accounts of those companies showed how the funds were transported on separate days.
“Further investigations revealed that three different companies were used in paying and acquiring the property now sought to be finally forfeited to the Federal Government of Nigeria. ‘Ifeadigo Integrated Services’ is one of the three companies used in the acquisition of the property sought to be forfeited,” Musa’s testimony read.
“In the course of the fraudulent acquisition of the property sought to be forfeited, Ifeadigo Integrated Services was procured to transfer the sum of N900,000,000.00 (Nine Hundred Million Naira) reasonably suspected to be proceeds of unlawful activities to the account of M.G Properties Limited.
“The second company that was procured and used in the acquisition of the property sought to be forfeited is ‘Kelvito Integrated Service.
“The said Kelvito Integrated Service, transferred the sum of N700,000,000.00 (Seven Hundred Million Naira only) reasonably suspected to be proceeds of unlawful activities to M.G Properties Limited.
“The third company used in the fraudulent acquisition of the property sought to be forfeited is one ‘Ice Frozen Food & Ventures’. That the said Ice Frozen Food & Ventures was procured to retain and transfer the sum of N600,000,000.00 (Six Million Hundred Million Naira only) reasonably suspected to be proceed of unlawful activities to M.G Properties Limited for the acquisition of the said property, now sought to be forfeited in the interim to the Federal Government of Nigeria.
“The MG Properties received the aggregate sum of N2,200,000,000.00 (Two Billion, Two Hundred Million Naira only) from Ifeadigo Integrated Services, Kelvito Integrated Service and Ice Frozen Food & Ventures vide its account.”
According to the EFCC, these companies built different layers in the transaction aimed at concealing the sources of the funds and their beneficial owners.
“The said three companies used for the payment of the property are enmeshed in criminal manoeuvring of layering proceeds of illegal activities of Mr Godwin Emiefele,” Musa told the court.
“The directors of Ifeadigo Integrated Services and Kelvito Integrated Service were arrested and their statements [were] voluntarily obtained in the course of [the] investigation. The said extrajudicial statements are hereby attached and marked exhibit EFCC 05(a) & (b) respectively.”
OTHER INDIVIDUALS
The EFFC also revealed to the court that Emefiele’s personal assistant enlisted the services of another Zenith Bank employee in charge of vault administration to launder billions of naira towards the property acquisition.
“One Mr Eric Ocheme, the Personal Assistant to Mr Emefiele procured Richard Agulu a Vault Administrator of and Cash Officer of Zenith Bank Plc, Maitama Main Branch, Abuja, to launder billions of naira for Mr Godwin Emefiele monies suspected to be illegal kickbacks from allocation of foreign exchange deals and award of contract by the CBN,” Musa told the court under oath.
“Mr Agulu also procured his friends to open a bank account which could be used to receive proceeds of unlawful activities of Mr Godwin Emefiele. To achieve this sinister aim, Mr Agulu hoodwinks old friends such as one Mr Peter Adeyemi to open Bank accounts to receive proceeds of unlawful activities.
“One Mr Christopher Emefiele, the promoter of De-mes Properties Nigeria Limited and close ally of Mr Godwin Emiefele, was invited by the Commission, he volunteered his statement and confirmed that the said Mr Erich Ocheme, the Personal Assistant to Mr Godwin.
“Ifeanyi Emefiele contacted him to act as consultant for the development of the property highlighted in Schedule A to this application now sought to be finally forfeited. Attached and marked EXHIBIT EFCC 06 is the extra-judicial statement of the said Mr. Christopher Emefiele.
“The development of the property was directly handled by Eric Ocheme for his principal Mr Godwin Emiefele. The payment and purchase, miscellaneous and development of the property sought to be forfeited was conducted through bank transfers and cash vide proxy accounts with proceeds of illegal activities.
“Part of the proceeds received by the accounts fraudulently opened to facilitate unlawful activities are illegal funds that were used to acquire the property sought to be forfeited.
“The title documents of the property highlighted in Schedule A to this application was handed over to Ifeanyi Omeke by Godwin Emefiele.
“The funds used in the acquisition of the property highlighted in Schedule A to this application are not legitimate earnings of Godwin Emefiele but monies acquired through illegal and unlawful activities.
“I know as a fact and verily believe that the source/origin of the funds used in the acquisition and/or development of the properties sought to be forfeited are proceeds of unlawful activities to wit: corrupt enrichment, receiving of gratification or kickbacks and abuse of office.
“This Honourable Court on the 1st of November, 2024, after evaluating facts placed before it, granted interim forfeiture order with respect to the property now sought to be finally forfeited. Attached and mark exhibit FCC 07 is the said interim forfeiture order of this Honourable court.
“That in compliance with the Order of this Honourable Court, the Applicant herein published in the Punch newspaper of 6th November, 2024, on Page 31, the interim Order granted by this Honourable Court.”
FIJ
