Tuesday, July 9, 2019 6:50 pm
The Special Presidential Investigation Panel for the Recovery of Public property, has began investigation into alleged act of money laundering by Mr Goddy Nnadi, General Manager, Corporate Services, Department of Petroleum Equalisation Fund (PEF).
Chairman of the panel, Mr Okoi Obono-Obla who disclosed this at a news conference in Abuja, on Tuesday, said that the act was reported through a petition by a Non-Governmental Organisation against Nnadi.
He said the panel would also investigate the entire management of the Fund to find out if all other management staff and directors have not violated the law as Nnadi had done.
He said the petition was approved by me and forwarded to the Director Operations on June 10 for investigation and report.
He described the offence as a case of money laundering, corrupt enrichment and acquisition of wealth beyond legitimate earnings.
The chairman said that the panel after a critical appraisal of documents so far retrieved and recovered, the suspect operated corporate accounts with Galbani and Greatwood Hotels Owerri, Imo.
“It was also deduced that the total inflow of money into the suspect’s accounts in various financial institutions amounts to N2.2 billion, 302, 964 dollars, 11, 100 Euro and 2,000 pounds.
“Most of the inflow came into the suspect’s account from 2011 till date.
“His BVN is associated with 18 different bank accounts which include Naira, Euro and Pound Sterling.”
Obono-Obla noted that all these assets were not declared by Nnadi, saying that it was against the law for a director in the federal public service not to declare everything he had.
“This is against the Constitution and the Recovery of Public Property Special Provision Act 2004 under which the panel was set up.”
He named another suspect, the General Manager Operations of PEF, Aisha Usman, who operated nine accounts in Guarantee trust Bank with a total financial inflow of N1.4 billion.
“We found that Usman’s accounts were as a result of the payment of large sums of money by companies operating in the oil and gas industry.”
He said that the panel would continue to carry out its work in accordance with its mandate.