(VIDEO) EFCC Name Sacked NNPC Boss As Owner Of $43.5M Cash Stash In Lagos Apartment

by Bamidele Ogunberu Last updated on August 13th, 2017,

(VIDEO) EFCC Name Sacked NNPC Boss As Owner Of $43.5M Cash Stash Recovered At The Osborn, Ikoyi, Lagos  Apartment. Esther Nnamdi-Ogbue sacked, PPMC MD, allegedly owned the ash recovered by the EFCC in Ikoyi during a sting operation. The former Pipelines Products & Marketing Company’s managing-director was recently sacked alongside three other persons over corruption. The federal government’s whistle-blower’s initiative led to the recovery of the monies Esther Nnamdi-Ogbue has been alleged to own. The huge cash was on Wednesday uncovered by the Economic and Financial Crimes Commission (EFCC).

The Nigerian National Petroleum Corporation, NNPC, yesterday, announced the retirement of Esther Nnamdi-Ogbue and two other senior executive officers of its retail segment, NNPC Retail Limited.

The NNPC, in a statement by its Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, said the retired executives were Mrs. Esther Nnamdi-Ogbue, Managing Director, NNPC Retail Limited; Mr. Alpha Mamza, Executive Director, Operations, NNPC Retail Limited; and Mr. Oluwa Kayode Erinoso, Manager, Distribution, NNPC Retail Limited. The NNPC also announced the redeployment of four officers to fill the vacant positions which arose as a result of the retirements.


Esther Nnamdi-Ogbue

Ughamadu said those deployed to fill the vacant positions in the NNPC Retail were Mr. Adeyemi Adetunji, who becomes Managing Director; Mr. Lawal Bello, Executive Director, Operations; Mrs. Affiong Akpasubi, Executive Director, Services; and Mr. Agwandas Andrawus, Manager, Distribution.

The NNPC disclosed that the appointments took immediate effect, adding that until his new assignment as the Managing Director of NNPC Retail, Adetunji was General Manager, Strategy & Planning, Gas & Power and also former General Manager, Transformation Office.

Though the NNPC did not state the reason for retirement of Nnamdi-Ogbue, sources, however, stated that it might be connected to the alleged illegal sale of about 130 million litres of Premium Motor Spirit, PMS, valued at N17.439 billion, belonging to the NNPC by two firms, MRS Oil and Capital Oil and Gas.

The $43,449,947, £27,800 and N23,218,000 recovered by the Economic and Financial Crimes Commission (EFCC) from an Ikoyi apartment in Lagos was a discreet allocation released to the National Intelligence Agency (NIA) for major but covert security projects. The total value of the money at the Central Bank of Nigeria official exchange rate is over N15 billion.

Presidency and security sources told this newspaper on Friday that former President Goodluck Jonathan approved the funds for the 30-year old secret service agency after its immediate past Director General, Olaniyi Oladeji, alerted him to the need for some “crucial and covert security projects”.

Only relevant top government officials and of the NIA are aware of the projects. One official said when the incumbent Director General of the NIA, Ayodele Oke, was alerted that EFCC operatives had swooped on the apartment, being discreetly guarded by covert operatives, he rushed to the anti-graft agency’s headquarters in Abuja to advise its chairman, Ibrahim Magu, to withdraw his men as the funds belonged to government.

At the time, about 13 police officers and some soldiers, accompanied by photographers and videographers, had broken into the apartment, and were already dismantling the safes in which the funds were concealed.

Mr. Magu however declined Mr. Oke’s request. Instead, he directed his men to proceed with the operation. those familiar with the matter said.

A frustrated Mr. Oke was said to have rushed to the National Security Adviser, Babagana Monguno, and Vice President Yemi Osinbajo to complain about Mr. Magu’s attitude, and the huge embarrassment he had caused his otherwise extremely quiet and secretive agency.

On Thursday, presidency sources said, Mr Oke met President Muhammadu Buhari in company with Attorney General Abubakar Malami to table the same complaints.

Those who saw the NIA DG before he was called in to see the president said he had two bulky envelopes believed to contain paper and audio-visual records of the security projects.

Officials said President Buhari has since directed Mr. Magu to forward to him detailed report on the operation. The EFCC boss was also directed to immediately deposit the funds with the CBN.

On his part, Mr. Oke was asked to properly document his complaints against Mr. Magu, and then reapply for the seized funds, our sources said. Mr. Oke of the NIA confirmed that the money belongs to his agency, but declined further comments when asked what the funds were meant for.

The EFCC had on Wednesday recovered the huge cash from an Osborne Street, Ikoyi apartment in Lagos, believing it was looted. The anti-graft agency said it acted following a tip from a whistle-blower.

In a ruling on Thursday, Justice Muslim Hassan ordered a temporary forfeiture of the money to the government. He adjourned further proceedings to May 5 for anyone interested or wishing to claim the money or make a case why it should not be permanently forfeited to government.

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Bamidele Ogunberu

Bamidele Ogunberu

A prolific writer, Bamidele has worked in generalist and public relations capacities for an energy company before making the cross over into journalism and has never looked back
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