THE last is yet to be heard of the pension scam in the Head of Service of the Federation (HoSF). The Economic and Financial Crimes Commission (EFCC), which has gone tough on the masterminds, says it has unearthed the payment of N2.5 billion to individuals and companies, which acted as fronts for officials of the pension unit.

From its fresh investigations, the EFCC listed four fictitious companies, a businessman, banks and more pension officials who were involved in the scandal. The fraudsters also included an accountant and a senior officer in the Office of the Accountant-General of the Federation (AGF).

The Guardian learnt that a former head of accounts in the pension unit, who was one of the signatories to the funds, helped the cartel to steal N131.43 million through five of his accounts with different banks.

A search conducted by EFCC’s operatives on the house of the suspect (now on the commission’s bail) at Kado Estate in Abuja on January 13, 2011 allegedly led to the recovering a computer with several payment mandates put at N2.5 billion.

The amount, the EFCC said was moved in hundreds of millions of naira by the officials, who also paid themselves pension and gratuity while still in service.

It was also learnt that the suspect confessed to have used Shell companies and proxies to collect over N1.07 billion and remitted it to a female official (names withheld) either directly or through two of her agents.

Before the Federal High Court, Abuja, where some of the accused, including Teidi Shuaibu are being prosecuted, the EFCC in its “proof of evidence” said the woman is a deputy director of pension finance in the unit.

She is said to have used some bankers and companies to help the cartel to siphon pension funds into their private pockets.

The EFCC named two of the bankers the deputy director involved in the looting of the pensioners’ benefits.

The bankers allegedly collected five per cent as commission on the laundered money as commission.

According to the EFCC, the head of accounts (a male) collected 10 per cent of the amount laundered through him as commission.

The EFCC also listed the bank accounts of four persons and four firms used for the illegal transactions. The companies, the EFCC said were paid in hundreds of millions of naira for fictitious contracts.

Among the indicted persons in the N2.5 billion scam are a cash officer in the pension accounts, chief accountant and zonal coordinator, North East Zonal Office of the Office of the Accountant-General of the Federation. He was an assistant director in charge of variation while at the Office of the HoSF and a co- signatory to the pensions accounts.

Also, a businessman and contractor has been detained and released on bail by the EFCC for acting as a front for one of the embattled pension officials. He was said to be a front for the female deputy director and Shuaibu. Several hundreds of millions of naira were allegedly traced to their bank accounts.

Although the deputy director allegedly admitted to have received money from the businessman, Shuaibu, the EFCC said denied collecting any kobo from the contractor.

EFCC’s proof of evidence also revealed how one of the accused persons in the HoSF Office (names withheld) used a woman and four men to launder N42.5 million.

But the accused allegedly admitted that only N25.2 million was paid into his account for which he got five per cent as commission. According to the EFCC, N23. 4 million was paid into one account while another N191.7 million was paid into 12 accounts bearing fictitious names supplied by the accused.

A ghost pensioner was also paid over N12 million as arrears and gratuities.

The proof of evidence further states that these fraudulent payments from pension account remitted to the official by those ghost pensioners were deposited in two accounts 6213502032 and 6213502576 both with a new generation bank. The deposits were sometimes in fictitious corporate names and individuals, it added.

A list of 53 fictitious pensioners was found in the house of an assistant cash pay officer in the Pension Department of the Head of Service. He allegedly owned three companies, which were used to collect the monies from the ghost pensioners.

A total of N422 million was discovered in the account of one of the companies. The EFCC said that the turnover was generated through payments made by some of the fictitious pensioners who have been paid in millions of naira.

Another ally of Aliyu Bello, Alhaji Sani Salihu, a businessman and contractor, received up to N22 million in pension arrears without serving government in addition to another N46 million paid to him by Fafama Estate Developers’ account.

There was also a transfer of about N58 million from Salimpa Ventures limited to Fafama Estate Developers’ account. One Grace Francis was paid a total of N23 million in collective allowances. Collective allowances are money paid to one person for and on behalf of others. Luke Eloanyi was said to have been paid over N20 million in fictitious collective allowance also. Aliyu Bello himself was said to have directly been paid a total sum of N65 million in collective allowance through various accounts. The EFCC said he confessed to have committed the offence on the directive of Dr. Shuaibu Teidi, who he also remitted all the monies collected through his channels to; either through Shuaibu’s personal accounts or through the account of Riba-Ile Petroleum, one of the companies belonging to Dr. Shuaibu.

-Guardian

Posted by admin on Apr 24 2012. Filed under EFCC Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry