EFCC moves against former power minister over N30bn fraud

• The Economic and Financial Crimes Commission (EFCC) is set to arraign former Minister of Power, Saleh Mamman, on charges on money laundering
• Mamman, who served under former President Muhammadu Buhari, faces a 12-count charge for alleged offences from August 2019 to September 2021
• The EFCC claims Mamman committed multiple offences, including unlawful conversion of project funds and using substantial amounts for personal gains

FCT, Abuja - The Economic and Financial Crimes Commission (EFCC) is expected to arraign former Minister of Power, Saleh Mamman, today on charges of laundering over N33,804,830,593.73.

Mamman, who served in the administration of former President Muhammadu Buhari, will face a 12-count charge for alleged offences committed during his tenure from August 2019 to September 2021.

Former ex-Minister of Power, Mamman indicted for over 30bn fraud Photo credit: Saleh Mamman/Ola Olukoyede
Source: UGC

Other charges involved

The charges include conspiracy to commit money laundering, and possession and use of proceeds from criminal activities.

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According to some of the charges, Mamman allegedly conspired with other officials from the Ministry of Power and private companies to "indirectly convert the total sum of N33,804,830,593.73, which was part of the proceeds of unlawful activity.”

The EFCC stated that this unlawful conversion was a "criminal breach of trust" concerning funds allocated for the Mambilla and Zungeru Hydroelectric Power Plant Projects by the Federal Government of Nigeria, The Nation reported.

Mamman violates sections of the Money Laudering Act

Additionally, Mamman is alleged to have violated Section 18(a), 15(2)(b) of the Money Laundering (Prohibition) Act 2011 (as Amended) and is punishable under Section 15(3) of the same Act.

Part of the allegations includes Mamman making a cash payment of $665,700 (then worth about N200 million) for a property at No. 12A & B Lungi Street, Off Cairo Street, Wuse II, Abuja, TheCable reported.

The payment was made to MOHIBA INVESTMENT LTD (through Mohammed Asheik Jidda) without using a financial institution.

The EFCC claims Mamman committed an offence contrary to Sections 1 and 18(a) of the Money Laundering (Prohibition) Act, 2011 (as Amended), and is punishable under Section 16(2)(b) of the same Act.

He is also alleged to have violated Sections 30(1)(f) and 22(a) of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, punishable under Section 30(2)(a) of the same Act.

Between August 21, 2019, and September 1, 2021, in Abuja, Mamman allegedly took possession of Houses 93A & B, Ahmed Joda Crescent, Kado, Abuja, which he should have known were derived from the proceeds of an unlawful act, specifically the criminal breach of trust related to the Mambilla and Zungeru Hydroelectric Power Plant Projects.

The EFCC alleges Mamman committed an offence contrary to Section 15(2)(d) of the Money Laundering (Prohibition) Act, 2011 (as Amended) and punishable under Section 15(3) of the same Act.

He is also accused of spending N20 million of the project funds to rent a one-bedroom apartment in Sammy Court Resort, which he should have known were part of the proceeds of an unlawful act.

Between January 20, 2020, and December 31, 2020, Mamman allegedly used N130,778,000 from the power plants’ funds through his Personal Assistant, Misbahu Idris, contravening Section 15(2)(d) of the Money Laundering (Prohibition) Act, 2011 (as Amended), and punishable under Section 15(3) of the same Act.

The charges were filed and signed by Adeyinka Olumide-Fusika (SAN), Rotimi Oyedepo Iseoluwa (SAN), Bikikisu Bala, Suleiman I. Suleiman, Chineye C. Okezie, and Abbas O. Muhammed.

Barring any changes, Mamman will be arraigned at the Federal High Court, Abuja, presided over by Justice James Omotosho.

Obi commends EFCC boss

Earlier, the Labour Party (LP) presidential candidate, Peter Obi has commended the EFCC Chairman, Ola Olukoyede for raising alarm over the massive looting of Nigeria’s treasury and assets by public officials.

Legit.ng reported that Obi said Olukoyede’s resolve to confront the menace of corruption head-on is commendable.

He charged him to remain steadfast in his pursuit of verifiable cases.

Source: Legit.ng