BEVERLY HILLS, February 15, (THEWILL) – Brigid Shiedu, Managing Director, Benue State Investment and Property Limited, has informed a Federal High Court sitting in Abuja before Justice Ramat Mohammed, that the former governor of Benue State, Gabriel Suswam, instructed the payment of N1 billion, part of proceeds of the sale of the state securities worth N3.1 billion to Elixir Securities Limited.
Shiedu is the prosecuting witness 2 (PW2) in the matter against Suswam and a former commissioner of finance, Omodachi Okolobia over allegations of money laundering levelled against them by the Economic and Financial Crimes Commission (EFCC) for allegedly diverting proceeds of sale of state-owned shares.
Both Suswan and Omodachi are being prosecuted by the EFCC on a nine-count charge bordering on money laundering, abuse of office and obtaining by false pretence to the tune of N3.1 billion.
They were alleged to have diverted the proceeds of the sale of shares owned by the Benue State government and Benue Investment and Property Company Limited. The offence is punishable under Section 15, Sub-section 3 of the Money Laundering (Prohibition) Act as amended in 2012.
At the resumption of trial, she informed the court that after some discussions with Suswam and Okolobia on diversification of some of the state investments, as there was a concentration for the investment in two basic slots, that is, Dangote Cement and Julius Berger, resulting into the high risk, as such, for the diversification to be done, it had to be included with other securities in stocks.
She informed the court that Okolobia, the then commissioner of finance, sent her two account numbers belonging to Elixir Securities Limited for the proceeds on the sale of the shares.
“The instruction given does not carry any specific amount to pay into the accounts. Elixir Securities called me asking what would be paid in each of the accounts. I told them since the instruction came from the government and they were the ones to be paid, they should forward the request to the commissioner of finance,” Shiedu said.
“I communicated the account to pay the N1 billion to Elixir Securities after discussing with the commissioner of finance.”
The prosecuting counsel, Rotimi Jacobs tendered before the court Certificate of Incorporation of the state-owned Benue State Investment Limited, along with a letter from the Corporate Affairs Commission (CAC) to the EFCC chairman.
However, the court admitted the documents after taking objections from the defence counsel, Joseph Daudu over its admissibility.
Sheidu, who had earlier told the court at the previous sitting that, her duties among other things include: coordinating the general activities of the agency and implementing decisions taken by the board of directors, said: “I was invited to the Government House by Suswan who was with Okolobia, for discussion on the sale of some of Benue State shares held in trust with Benue State Investment Limited.
“Former governor Suswan directed the sale of the shares after our meeting and the former commissioner sent two account numbers to me.”
The matter was thereafter adjourned to February 16, for continuation and cross-examination of the PW 2.
Story by David Oputah
