Nigerians await probe into Kachikwu's alleged N1bn Bank fraud by

By Sunday Ogene,  Abuja
In the midst of the much-touted fight against corruption by the present administration, Nigerians still await the probe of the Minister of State for Petroleum, Ibe Kachikwu, on the over N1 billion allegedly drawn by him and his ally, Dimebi Kachukwu, from First Bank Private Investment account.
Vice President, Yemi Osinbajo, according to a memo made available to our reporter had on 20th May  2016 written Mr. President, Muhammad Buhari requesting for approval to commence further probe and investigation on the matter based on a preliminary report submitted by the  Economic and Financial Crimes Commission (EFCC).
The reports of the preliminary investigation conducted by the EFCC dated 24th March and 13th April 2016 respectively showed that the two Kachikwus collected in tranches a total sum of  N1.003bn transferred on behalf of Dutchess Energy Ltd by one of its Directors, Olatimbo Ayinde, from the First Bank Investment Account number 2017692160 between September and October  2015 for use other than investment.
In its update letter of 13th April 2016 to the Vice President, with ref. No.: EFCC/EC/VP/02/31, EFCC stated thus: “The commission conducted further analysis of the Private Banking Investment Account in relation to the accounts of Dimebi Kachikwu, associated companies, Emmanuel Kachikwu and Dutchess Energy Ltd.
“The account officers of the above-mentioned accounts gave statements on the suspicious transactions in the accounts, confirming the earlier findings of the commission that the over  N1 billion transferred from Ditches Energy to the private First Bank Investment Account was not meant for investment, but rather  used  as a conduit to transfer the money to Dimebi Kachikwu and associated companies and Emmanuel Kachikwu.
“It was also discovered there were similar  payments from other entities that went through the Investment Account to both Kachikwus.”


Please enter your comment!
Please enter your name here