The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has secured an interim forfeiture order from a High Court of the Federal Capital Territory, Abuja, to seize the ₦2,417,037,404 billion comprising of foreign and local currencies, stashed in multiple accounts in four different banks as well as five landed properties located in different parts of Abuja metropolis alleged to have been illegally acquired and linked to a former Managing Director of the Pipelines and Product Marketing Company (PPMC), Mr. Haruna Momoh.
The Commission, before approaching Justice O. A. Adeniyi, for the order of interim forfeiture, had found through investigation that the former PPMC boss allegedly abused his position by using cronies and shell companies to divert government funds.
He allegedly used
- Multi-Functions Nigeria Limited, 2. Blaid Property limited and
- Blaid Construction Limited to carry out several unlawful activities running into billions of naira.
Contracts were secured for the companies from the Nigerian National Petroleum Corporation (NNPC) without any corresponding evidence of execution.
Investigation revealed that the sum of ₦1.4 billion was traced to six bank accounts in two different banks operated by Momoh’s wife, Eileen Ochuko Momoh, who is the owner of Blaid Construction as shown by the incorporation details of the company.
The wife has four bank accounts with the United Bank for Africa (UBA) where the combined sum of N469.2 million in foreign and local currencies was stashed.
She also had two other accounts with Union Bank, where the Commission found $1, 678, 975 million and N496, 137, 895 million respectively.
ICPC further discovered
- €173, 601.55,
- $5, 563.21 and
- ₦876, 209,744 million in three Stanbic IBTC bank accounts traced to Multi-functions Nigeria Limited
There was also the sum of ₦800, 663.43 in Citibank also belonging to the same company.
The properties to be forfeited are 1. Plot 199, Ebitu Ukiwe street, Utako,
- 21 Olympia Estate, Kaura District
- 22 Olympia Estate, Kaura District
- 23 Olympia Estate, Kaura District
- 26 Olympia Estate, Kaura District
- Plot 1824, Cadastral Zone, BO7, Katampe,
- Plot 1827, Cadastral Zone, BO7, Katampe
- No. 6 Casamance street, Wuse Zone 3, all in Federal Capital, Abuja.
Justice Adeniyi, while granting the interim forfeiture ruled that the money be placed in an interest-yielding escrow accounts in the name of ICPC.