Alleged N18bn fraud: EFCC arraigns ex-NSITF boss, 4 others

Stories by Vivian Okejeme

A former Managing Director of Nigeria Social Insurance Trust Fund (NSITF), Umar Munir Abubakar and four others, were brought before a Federal Capital Territory High Court, Apo Abuja, for alleged diversion of N18 billion.
The Economic and Financial Crime Commission (EFCC) said the money was the contribution from the federal government as take-off grants and Employees Compensation Scheme (ECS) for Ministries Departments and Agencies (MDAs).
The said money was alleged to be diverted into the former director’s personal accounts by an e-payment mandate.
Henry Ekhasomi Sambo, Adebayo Adebowale Aderibigbe, Chief Richard U. Uche and Aderemi Adegboyega are also defendants in the matter.
They are being prosecuted before Justice Silvanus Orji, on a 26-count charge, bordering on conspiracy, abuse of office and illegal diversion of public funds.
The offence, according to the anti-graft agency contravenes Section 311 of the Penal Code cap 532 LFN (Abuja) 1990 and punishable under Section 312 of the same code.
They pleaded not guilty to the charges preferred against them.
Counsel to the EFCC, Steve Odiase, urged the court to fix a date for trial and also remand them in prison custody pending trial.
Opposing the move, counsel to the defendants, J. K Kolawole, Napoleon O. Idenala, J. A. Kalu, J. C. Njikonye and Obafemi Adewale, applied for the bail of their clients and prayed the court to grant them bail on liberal terms.
After listening to the arguments, Justice Orji granted them bail to the tune of N50 million each and two sureties in like sum.
He added that the two sureties should be resident in the Federal Capital Territory, Abuja.
EFCC’s Head of Media and Publicity, Wilson Uwujaren, in a statement, said, the suspects allegedly received “kickbacks in dollars in the discharge of their duties, and conspired to divert the about N18 billion”.
The statement said: “Trouble started for Abubakar, a former managing director of Nigeria Social Insurance Trust Fund (NSITF), and his co-defendants (some of whom were former board members and current staff of NSITF), when a whistleblower petitioned the EFCC, accusing them of abusing their positions to divert public funds running to billions of naira.
“Acting on the petition, EFCC operatives investigated the allegations and after thorough investigations were carried out, it was revealed that between 2012 to 2015, they received kickbacks in dollars in the discharge of their duties, and conspired to divert the about.”
The counts read in parts: “That you Umar Munir Abubakar “M” being the former managing director of Nigeria Social Insurance Trust Fund (NSITF), Henry Ekhasomi Sambo “M” being General Manager Finance (NSITF), Sir Adebayo Adebowale Aderibigbe “M” being General Manager Legal Department (NSITF), Chief Richard U. Uche “M” being a former board member of (NSITF), Aderemi Adegboyega “M” being a former board member of (NSITF) and Dr. (Mrs.) Ngozi Olejeme “F” former board chairman (NSITF) (now at large).
“On or about 2012 to 2015 in Abuja within the jurisdiction of the High Court of the Federal Capital Territory, Abuja, while being entrusted with dominion over money belonging to the Nigeria Social Insurance Trust Fund (NSITF), dishonestly converted to your own use the sum of N18, 000, 000,000, being contribution from the Federal Government as take-off grants and Employees Compensation Scheme (ECS) for MDAs.”

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