An official of Fidelity Bank Plc, Timothy Olaobaju, on Monday told a Lagos court how former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, stashed away $115,010,000 taxpayers’ money in the bank with a clear instruction to convert it into naira and share it among some individuals across the federation as election bonanza.
Mr. Olaobaju said this on Monday when he appeared as a prosecution witness before Justice Rilwan Aikawa of the Federal High Court in Lagos where Belgore and Sulaiman are docked for alleged money laundering involving N450m.
Among the beneficiaries, Olaobaju said, were a Senior Advocate of Nigeria, Mr Dele Belgore and a former Minister of National Planning, Prof. Abubakar Sulaiman. Both received N450m.
The EFCC had earlier arraigned Belgore and Sulaiman on February 8, 2017 on five count charges, but they were re-arraigned on Monday on an amended charge which included the name of Diezani, who is said to “still be at large”.
Belgore and Sulaiman on Monday again pleaded not guilty to the five charges.
Led in evidence by the EFCC prosecutor, Mr Rotimi Oyedepo, Olaobaju said: “Sometime in April 2014, our MD, 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 funds were deposited in dollar. The total sum was $115,010,000.
“On the 27th of March, 2015, there was an instruction from the former Petroleum Resources Minister, Diezani Alison-Madueke, through our MD, that the fund in the account should be converted to naira and paid to certain individuals of which the list of beneficiaries was sent to our MD and the amount to be paid to them in naira.
“The funds were paid according to Alison-Madueke’s instructions.
“On the list sent to our branch, the names of the defendants (Belgore and Sulaiman) were on that list because the money was paid in about 36 states of the federation.
“The defendants are not customers of our bank.
“The instruction was that the sum of N450m should be paid to Mr Dele Belgore (SAN) and Prof. Abubakar Suleiman.
“They both received the money and they filled the Receipt of Payment as evidence of receipt of the money and acknowledgement of same.”
Belgore and Sulaiman signed separate Receipts of Payment for the same N450m on March 26, 2015, he said. The court admitted both Receipts of Payment in evidence and marked them as Exhibits 1 and 1A.
Belgore’s lawyer, Chief Ebun Shofunde (SAN), asked for an adjournment for cross-examination, as he said most of what the witness said on Monday were not in the proof of evidence front-loaded and served on the defence counsel. Sulaiman’s lawyer, Mr Olatunji Ayanlaja (SAN), also toed Shofunde’ path.
Justice Aikawa therefore adjourned the matter till Tuesday for further proceedings.
Both accused persons would continue to be on bail earlier granted to them on self-recognisance.
Sulaiman, a professor of Political Science and International Relations at the University of Abuja, and Belgore, a former governorship aspirant in Kwara State, are accused of conspiring between themselves to commit the offence on March 27, 2015.
They are accused of making a cash transaction of N450m on March 27, 2015, without going through any financial institution. And that the defendants “ought to have reasonably known that the N450m formed part of proceeds of an unlawful act.”
The EFCC alleges that the defendants paid N50m to one Sheriff Shagaya, which was above the lawful limit permitted by the Money Laundering (Prohibition) Act.
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