In order to protect over N100 billion
worth of pension assets managed by First Guarantee Pension Limited
(FGPL), the Economic and Financial Crimes Commission (EFCC) has invited a
member of the House of Representatives, Chidi Duru, one Chief O.O Ojo,
and a South African, Mr. Derrick Roper, representing Novare Holding
Limited, for diversion of millions of naira of FGPL, a licensed pension
administrator, a senior operative of the anti-graft agency told THISDAY
in Abuja yesterday.
Top officials of the regulatory agency
for pension operators in the country, the National Pension Commission
(PENCOM), were also said to have recently met with the Chairman of EFCC,
Ibrahim Magu, at the anti-graft head office in Abuja where the EFCC
agreed to specially partner PENCOM to smoke out pension thieves and
fraudsters in the sector with a view to jailing them.
The anti-graft agency specifically
accused Duru of diversion of N16 million being part of the equity
contribution of Novare Holding, a South African firm, to another
business without following due process and obtaining board approval;
collecting N20.5 million as “executive allowance’’ without board
approval and diversion of the company’s assets worth millions of naira
for his personal use.
Duru, whom EFCC alleged is fronting for
some powerful political forces in the country, has also been accused of
serving as the chairman of the board of executive committee of FGPL
that was “fraudulently’’ involved in engaging the services of Hard Rain
Software Limited to develop a software for the licensed pension
administrator at the cost of N31million despite PENCOM, the apex
regulatory agency for pension administrator’s directive calling for
suspension of the project.
The EFCC has also accused him of
approving payment amounting to $285, 102 to Novare Investments for
“questionable’’ consultancy services and other charges without board
approval.
The anti-graft commission, had arrested
a senior staff of the Ministry of Justice and Attorney-General of the
Federation (AGF), Mrs. Chinyere Christie Ekweonu, who stood as surety
for Duru, but released her after over a week in detention.
“Also, Duru’s bank cheque, totalling
N30milion presented as evidence of part payment of his portion of the
start-up share capital was found not to have been debited from his bank
account upon verification,” EFCC further stated.
The anti-graft agency has also indicted
Duru and his collaborators of alleged forgery of some shareholders
signatures on a document referred to as the “Shareholders Resolution,”
which purportedly mandated him to negotiate with Novare Holding on
behalf of other shareholders during the acquisition of the FGPL’s
shares by Novare Holding.
Some of the shareholders who Duru
allegedly forged their signatures include, former Speaker of House of
Representative, Alhaji Ghali Umar Na-Abba; former Deputy Speaker, Hon.
Austin Okara; Senator Annie Okwonkwo, Alhaji Kasim Ibrahim Iman among
others.
The EFCC added: “A verification of some
of the shareholders signatures was carried out; and it was observed that
the signatures of some shareholders who featured in the resolution
presented to the commission were forged.
“The discovery then called to question
the admittance and investment of Novare Holding in FGPL. The issue is
presently being investigated by the EFCC.’’
Duru has also been indicted for
allegedly manipulating a process that led to the FGPL to obtain five
expatriate quotas, which also covered Roper. But it was established that
only two of the quotas were related to the pension administrator, while
the three others were used by Grand Towers Plc, a company allegedly
owned by Duru.
“It was also established that in
obtaining the expatriate quota, false information on Roper was provided.
Roper was presented to the Ministry of Interior as an Executive
Director of the pension administrator while in fact the PENCOM had
granted him conditional approval as a part-time director. Consequently,
he was not entitled to use expatriate quota,” the source quoted from the
indicting report.
It was gathered that the expatriate
quota’s dirty deal was exposed as a result of a petition initiated by
some big shareholders of the pension administrator to the Ministry of
Interior.
Some of the petitioners include, Alhaji
Ibrahim Imam, Hon. Opara, Senator Okonkwo, Ahmed Salik, Hon. Patric
Asadu, Terngu Tsegba and others.
The EFCC’s operative further stated
that: “Duru also violated the pension fund administrator’s licensing
condition and the Code of Corporate governance by offering the shares of
the FGPL without a board resolution to Genoou Concept for an
unsubstantiated transaction.’’
The EFCC had arrested Duru before at his
Maitama, Abuja residence, when the agency was presented with a petition
signed by Alhaji Kashim Imam, arising from the “Draft First Guarantee
Pension Examination Report’ and ‘First Guarantee Pension Target Report’.
The anti-graft agency has filed charges
of money laundering, criminal conspiracy and other financial crimes
against Hon. Duru in Federal High Court, Lagos.
But Duru last night said no invitation was extended to him by the EFCC.
He accused the anti-graft commission of
circulating and sponsoring the same old falsehood against him which was
quashed by Justice Donatus Okorowo of the Federal High Court Abuja on
August 11, 2011 and June 18, 2012.
“It is a continuous attempt to obscure issues and not address the frontal issues.
“It judgment of the court represents the judgment of the court. It has not been overturned by a superior court,” he said.
Duru said it was unfortunate that the
anti-graft commission was acting on hearsay rather than carrying out a
detailed investigation.
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