James Ibori

The London Metropolitan Police are probing three banks for allegedly aiding a former governor of Delta State, Chief James Ibori, to launder over £20 million between 2005 and 2006.

A report in a London-based bi-monthly online publication, Africa Confidential, cited a police documents detailing the investigation of Barclays Bank, HSBC and Abbey Bank for assisting Ibori to launder the funds through his accounts in their banks. The report said the funds, which were meant for educational and infrastructural projects in Delta State, were diverted into the accounts.

It also reported that the Nigerian National Petroleum Corporation and an oil multinational paid £2.3m into Ibori's Barclays account over three years for renting houseboats for foreign workers. Africa Confidential reports that the banks got into trouble after the London police charged Ibori's wife, Theresa Nkoyo, on May 19 with offences of money laundering.

The charges relate to buying property with criminally obtained proceeds, according to the Crown Prosecution Service. The property is thought to be Ibori's £4 million main residence in north London, owned by Hafeway Properties, a Gibraltar-registered company, of which the couple are both directors.

The document states that Ibori was paid an official salary of £12,000 a year while in office from 1999-2007. It also said he bought property worth £5m in Britain, including a London flat for a close friend, Udoamaka Okoronkwo, a country retreat in Dorset and a £275,000 armoured Maybach-Mercedes limousine. He came under investigation only when he tried to buy a £10 mn. Challenger jet from Canadian-based Bombardier Inc. The buyer was British Virgin Islands-registered Teleton Quaye Limited, said to be an investment vehicle for Ibori whom, the police document said, used Bhadresh Gohil, a partner at London's Arlington Sharmas Solicitors, to incorporate it.

The report quoted a Metropolitan Police document as saying that the former governor is being tried in Nigeria. It said Ibori is also under investigation for money laundering in Britain, which has frozen his assets. Ibori's former personal assistant, Adebimpe Folayinmi Pogoson; his sister, Christine Omatie Ibori-Ibie, and Okoronkwo, are also under investigation. Okoronkwo is a co-accused in Ibori's ongoing trial for various offences of money laundering by a Federal High Court in Kaduna.

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When contacted on the telephone on Wednesday night, a spokesman of the London Metropolitan Police, who declined to be named, declined to either confirm or deny the report. He explained that he was unable to comment because he was barred by law from speaking on a matter before the court. According to him, "It's not really much that I can say at the moment.

"Three people are involved with the investigation. Theresa Ibori is charged with offences of money laundering; Bimpe Pogoson is charged with three counts of money laundering; and Ibori-Ibie is charged with five counts of money laundering and deception. We can't speak on the investigation because as far as the investigation is concerned, the matter is before the court and we are barred from speaking on it."

He, however, stated that the trial of Pogoson and Ibori-Ibie would come up on July 4 at the Southwark Crown Court in London.

Attempts to obtain comments from the HSBC and Abbey Bank failed. An email to Abbey Bank was also not replied as at press-time. However, a Barclays official, who declined to be named, gave a reply that appeared to confirm the existence of the investigation to our correspondent on the telephone.

He said, "In cases like this, we can't comment because it is still an ongoing court case. We can't comment. We are prohibited by law to comment on any ongoing case."

The spokespersons of NNPC and the oil firm could not be reached for comments at presstime.

 

PUNCH.