Home News Alleged N450m Fraud: EFCC Names Recipients Of N126.5m Disbursed By  Belgore

Alleged N450m Fraud: EFCC Names Recipients Of N126.5m Disbursed By  Belgore

by Our Reporter
The Economic and Financial Crimes Commission, on Wednesday, May 15,
2019, told Justice Rilwan Aikwa of the Federal High Court sitting in
Ikoyi, Lagos how Muhammed Belgore, a governorship candidate of the
Peoples Democratic Party, PDP, in the 2011 Kwara State gubernatorial
election, had disbursed a sum of N126,500,000 (One Hundred and Twenty-
six Million, Five Hundred Thousand Naira) to some  members of the Kwara
Senatorial Districts in cash  out of the alleged N450, 000, 000 paid by
a former Minister of Petroleum Resources, Diezani Allison-Madueke.

At the resumed hearing today, the prosecution counsel, Rotimi Oyedepo,
asked Belgore if he recalled that he had stated, in his evidence, that
he saw the money (N450,000,000.00) at the bank, signed the receipt and
instructed the bank to safe-keep it for him.

Oyedepo further asked Belgore if he recalled that he also stated in his
evidence that he called a stakeholders’ meeting upon receipt of the
money.

In his response, Belgore said: “Yes, I called a stakeholders’ meeting.
It was at the meeting we discussed the disbursement of the money and
agreed that each Senatorial district should nominate two people each,
who would collect money for their district.”

When the prosecution counsel asked Belgore, under cross-examination, if
he gave any written instructions to disburse the money the bank was
keeping on his behalf, he said: “It is true I did not have any written
instructions for the disbursements.”

When asked if he had ever had cause to issue instructions to any bank
where he is not a customer, Belgore said:  “I have not issued any
instructions to a bank, where I am not a customer.”

Consequently, Oyedepo put it to Belgore that he disbursed the sum of
over N126, 500,000(One Hundred and Twenty-six Million, Five Hundred
Thousand Naira) to various beneficiaries out of the N450, 000, 000.00 as
agreed in the stakeholders meeting, adding that ” Mr. Zikrullah Balogun,
your Personal Assistant, made several disbursements  on your
instructions and received in cash N80,000,000 (Eighty Million Naira);
Mr. Sheriff Shagaya received N50,000,000 (Fifty Million Naira); Mr. Isa
Beau received in cash  N 61,656,000(Sixty One Million, Six Hundred and
Fifty- six Thousand Naira); Mrs. Shola Adeoti received in cash
N102,298,000(One Hundred and Two Million, Two Hundred and Ninet- eight
Thousand Naira); Mr Iyola Oyedepo received in cash N9,574, 000(Nine
Million, Five Hundred and Seventy- four Thousand Naira) and Senator
Sulaiman Ajadi received in cash the sum of N19,689,000( Nineteen
Million, Six Hundred and Eighty- nine Thousand Naira).”

Belgore told the court that the stakeholders gave him instructions,
which he passed to his Personal Assistant, Balogun, to carry out.

“Yes, I was informed that they all received the money and it was paid in
cash,” he further stated.

Justice Aikawa adjourned the case to June 17, 2019 for continuation of
cross-examination.

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