Tuesday, 26 July 2016

What EFCC Did With Recovered Looted Fund From DSP Alamieyeseigha

DSP_Diepreye_Alamieyeseigha
DSP Alamieyeseigha was convicted in July, 2007. The process of the disposal of his forfeited asset also commenced same year following his conviction as it could not have been possible to dispose his assets in 2006 before conviction in July 2007 (as alleged by George Uboh)! The first part of the money realized from the disposal was remitted to the Commission’s account by Real Estate Derivatives Limited on 24th July, 2008 while the last payment from the sale of his assets in Nigeria was received in March, 2009. On 9th July, 2009, the total sum of N3, 128,230,294.83 realized from the assets was remitted to the Federal Government through the Federal Ministry of Finance in favour of Bayelsa State.
A summary of the assets recovered from DSP Alamieyeseigha are as follows:
i. Sale of 5 real estate N1, 982,915,352.22
ii. Recovery from Bond Bank N1, 000,000,000.00
iii. Legacy Bond Bank recoveries N105, 314, 942.61
iv. Proceeds from Chelsea mgt. N40, 000,000.00
v. Proceeds from rent collection N60, 000,000.00
vi. Pesal Nig. Ltd bank account N97, 708, 387.64
Other recoveries are:
vii. USA Treasury cheques $215,000.00
viii. Chelsea Hotel Management $226,000.00
ix. Chelsea Hotel Management €7,000.00
x. Chelsea Hotel Management £2,000.00
xi. Two properties were returned directly to Bayelsa State i.e. Chelsea Hotel and No.2 Marscibit
Street, Ishaku Rabiu Estate, Wuse II Abuja.
Apart from the proceeds from rent collection and Pesal Nigeria Limited bank account, all other monies listed above have been remitted by the Commission to the Federal Government through the Ministry of Finance in favour of Bayelsa State.
The balance of N157,708,387.64, with the Commission comprise of the sum of N97,708.387.64 forfeited by Pesal Nig Ltd, which was remitted to the Commission by Diamond bank on 12th June, 2015, and the sum of N60m discovered through routine account reconciliation in 2014. This balance will be remitted at the end of the ongoing audit of the Commission’s exhibits and recoveries by a reputable international audit firm. Regarding the offshore assets of DSP Alamieyeseigha, the repatriation of the forfeited foreign assets was handled by the office of the Attorney General of the Federation, not EFCC.
For the record, Ibrahim Lamorde was not in EFCC between May 2008 and December 2010 and could not have conspired with any EFCC official from his duty post in the Nigeria Police to transfer or withhold any recovered fund.
However records available in the Commission, indicate that the total sum of N3, 128,230,294.83 was remitted to the Federal Government through the Federal Ministry of Finance in favour of Bayelsa State on 9th July, 2009 as earlier stated and not 18th January, 2010. The balance due to be remitted is as stated in this publication. George Uboh should provide evidence to show that EFCC remitted the proceeds of DSP Alamieyeseigha assets to Bayelsa State through the Federal Government on 18th January, 2010 (instead of 9th July, 2009) and to also produce evidence for the sum of N4, 257,503,009.23 he claimed ought to have been remitted to Bayelsa State.

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