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ICPC to arraign ex-CEO of Federal Mortgage Bank, others over alleged $65 million real estate fraud in Abuja

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) will arraign a former Chief Executive Officer of the Federal Mortgage Bank of Nigeria (FMBN), Mr. Gimba Kumo Yau for allegedly awarding a $65,000,000 real estate contract to an allegedly incompetent firm, Good Earth Power Nigeria Limited in 2012.

This is contained in ICPC’s charge sheet marked FHC/ABJ/CR/333/24, and filed on July 9, 2024, by  Dr. Osuobeni Ekoi Akponimisingha,  Assistant Chief Legal Officer, ICPC. 

Yau, Bola Ogunsola, Mr.Tarry Rufus, Good Earth Power Nigeria Limited and T.brend Fortunes Limited are sued before the Federal High Court, Abuja for their alleged contravention of the Public Enterprises Regulatory Commission Act and Section 19 of the Money Laundering (Prevention and Prohibition) Act, 2022.

In the five-count charge obtained by Nairametrics on Wednesday, the anti-graft agency accused Yau of making payment to Good Earth Power Nigeria Limited in the sum of N3,785,000,000.00 out of the total contract sum of $65,000,000, for the development of 962 Units of Residential Housing in Kubwa, Abuja named “Goodluck Jonathan Legacy City” contrary to accepted practice. 

The ICPC maintains that the former bank CEO allegedly contributed to his organisation’s failure at the time by approving $65,000,000 to a firm that could not carry out and complete the real estate project. 

The allegations stated that Mr. Gimba Kumo Yau and Bola Ogunsola, in their roles as  Chief Executive Officer and Executive Director of the bank in August 2012, had secured a loan of N14 billion from Ecobank Nigeria PLC on behalf of the bank. 

This loan was said to be earmarked for the development and completion of 962 residential housing units in Kubwa, Abuja, named “Goodluck Jonathan Legacy City,”  within 18 months. 

ICPC further alleged that Mr. Gimba Kumo Yau, as the bank’s CEO awarded the $65 million contract despite knowing that the company lacked the capacity to carry out the contract.

ICPC added that the project remains incomplete as of today thereby amounting to “economic adversity” for the bank and in violation of Section 68(1) of the Public Enterprise Regulatory Commission Act, CAP P39, Laws of the Federation, 2004.

The other defendants were accused of giving and receiving $3,550,000.00 of the contract sum in cash in contravention of the Money Laundering Act. 

Tarry Rufus, Good Earth Power Nigeria Limited and T-Brend Fortunes Limited were accused of directly converting the sum of N991,399,255 into $3,550,000.00 and handing over the same to one Jason Rosamond (now at large) in cash, contrary to Section 18(2) (b) and punishable under Section 18 (a) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

The Public Enterprise Regulatory Commission Act forbids an official from taking steps that will cause an enterprise to fail, with penalties involving jail terms. 

It was gathered that a date had not been fixed for arraignment.

The defendants are innocent in the eyes of the law unless proven guilty by the courts.

Kumo’s lawyer, Barrister Okpara Orji confirmed to Nairametrics that his client was invited by anti-graft agencies some years back but was allegedly exonerated by its top investigators.

“The EFCC investigated the matter and they could not find anything linking Kumo.

“He was declared wanted by ICPC and we threatened to sue. They called him and pleaded; we have all those records,” Orji said.

Orji then alleged that the federal government institution was using a political witch hunt against his client.

“If they file any charge, immediately the matter is dismissed, we are going file for malicious prosecution because there is nothing linking Gimba in that matter.

“The director, of legal in ICPC, Henry Emore had said there is no charge against this man. So if they file any charge now, it is of political interest,” the lawyer claimed.

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FG shuts Eko bridge, ramps for eight-week repairs

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The Federal Government has shut down the Eko Bridge and ramps for eight weeks to resurface the essential asphalt.

The Federal Controller of Works, Lagos, Mrs Olukorede Kesha, made this known in a statement on Saturday morning in Lagos.

Kesha added that the closure will take effect from Friday, September 20, to Wednesday, November 20.

The statement read, “The Federal Ministry of Works plans essential asphalt resurfacing work on the Eko Bridge and Ramps for eight weeks, effective from Friday, Sept. 20, by 7.00 a.m., through November 20.

“The closure will be full at some sections of the bridge and partial at other sections.

“This critical project aims to improve road safety and enhance the driving experience of motorists.

“The work involves milling of the existing asphalt and relaying new asphalt on the bridge and Ramps. This will address wear and tear and ensure a smoother, safer roadway.”

According to her, due to the closure, there will be detours and alternate routes for drivers.

Providing information on how to navigate the area during the closure, she said motorists going to the Island from Funsho Williams Avenue should use the service lane at Alaka to connect Costain and access Eko Bridge.

“Island: Access Costain to connect Eko Bridge and link Apongbon

“Apongbon inwards Eko Bridge: Link Costain to access Funsho Williams Avenue

“For Costain inwards Alaka/Funsho Williams Avenue: Pass through Apapa Road from Costain and link Oyingbo to access Adekunle, then link to the Third Mainland Bridge

“Surulere: Use Costain to link Breweries inwards the Abebe Village to connect Eric Moore/Bode Thomas,” she said.

Kesha urged residents and businesses in the affected area to plan their travel accordingly. She assured the public that appropriate signage and traffic control measures would be in place to guide drivers and pedestrians.

She apologised for any inconvenience this might cause, saying that she appreciates the public’s patience and cooperation as the ministry works to improve the country’s infrastructure.

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Edo poll: Mercy Johnson’s husband escapes assassination attempt

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Security personnel foiled an assassination attempt by armed men suspected to be political thugs on a federal lawmaker representing the Esan North-East/Esan South-East Federal Constituency in Edo State, Henry Okojie.

Okojie’s media aide, Michael Ihaza, confirmed the development in a statement on Friday, saying that Okojie, the husband of the Nollywood movie Star, Mercy Johnson, was reportedly attacked at his residence by gunmen in a Lexus GX 470 carrying a Rivers State vehicle registration number – PHC 253 FF.

The statement noted that the planned assassination “was unsuccessful owing to the intervention of security personnel attached to the lawmaker”.

“The armed thugs who disguised as police officers along with two others, invaded the residence of Hon. Okojie, claimed to be on appointment and proceeded to the seating room.

“Following the intervention of the security personnel attached to the lawmaker, two of the armed thugs fled leaving behind the driver and another who are currently being interrogated by officers from the Area Command of the Nigeria Police Force, Uromi.

“The suspects have so far made a confessional statement stating that they were sent on the mission by People’s Democratic Party (PDP) leaders in Esan North East Local Government Area,” the statement added.

Efforts to reach the Edo State Police Command for comments were not successful.

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Edo guber: IGP restricts vehicular movement tomorrow

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Kayode Egbetokun, inspector-general of police (IGP), has ordered the restriction of vehicular movement in Edo state during the governorship election.

In a statement on Friday, Muyiwa Adejobi, force spokesperson, said the restriction will begin from 6am to 6pm on Saturday.

Adejobi said individuals on essential services like officials of the Independent National Electoral Commission (INEC), accredited media personnel, and emergency responders are exempted from the restriction.

The force spokesperson reaffirmed the ban on all security aides and escorts accompanying VIPs to polling units and collation centers.

Adejobi said unauthorised security personnel and quasi-security outfits are prohibited from operating during the election.

“In preparation for the election, the IGP has ordered the restriction of all vehicular movement on roads, waterways, and other forms of transportation from 6am to 6pm on election Day. Exceptions will be made for essential services, including accredited media, electoral officials, ambulances, and emergency responders,” the statement reads.

“To maintain the integrity of the electoral process, the IGP has implemented a ban on all security aides and escorts accompanying VIPs to polling booths and collation centres.

“Unauthorized security personnel and quasi-security outfits are prohibited from operating during the election, and the use of sirens by unauthorized vehicles is strictly forbidden to ensure a calm environment for voters.

“Furthermore, the IGP has mandated that special attention be afforded to individuals with disabilities, pregnant women, nursing mothers, the elderly, and those with mobility challenges, ensuring that polling stations in both urban and rural settings are accessible to all.

“The inspector-general of police, through the deputy inspector-general (DIG) for Edo gubernatorial election, DIG Frank Emeka Mba, mni, has appealed to citizens to refrain from making prank calls to control room and designated help numbers, highlighting that text messages are more effective for operational purposes.

“The designated election lines for inquiries and reporting are: DIG Frank Mba, mni; 07025000383 and AIG Benneth Igwe, mni; 09085000029, while the general control room numbers are 08077773721 and 08037646272. The already-activated joint control room is manned by police and relevant agencies engaged in the electoral process.”

On Saturday, voters in Edo will determine who succeeds Godwin Obaseki, governor of the state, for the next four years from the 17 political parties participating in the election.

The All Progressives Congress (APC), Peoples Democratic Party (PDP), and Labour Party (LP) are the leading political parties in the election.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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