The Economic and Financial Crimes Commission (EFCC) has intensified its investigation into Dr. Aisha Achimugu Sulaiman, casting a spotlight on allegations of conspiracy, obtaining money by false pretence, money laundering, corruption, and possession of unlawfully obtained properties.
The probe also involves Maxwell Chizi Odum and MBA Trading and Capital Limited, signalling a complex financial web that the anti-graft agency is determined to untangle.
At the heart of the EFCC’s investigation are serious allegations of money laundering. The commission asserts that Achimugu, through her network of companies, is suspected of “acquiring, possessing and disguising the origin and purpose of proceeds of the illegal activities,” including “obtaining money by false pretense, carrying on banking business without appropriate license, carrying on investment business without appropriate license and money laundering,” according to court documents.
The EFCC’s investigation has carefully traced the flow of funds, focusing on transactions involving MBA Trading and Capital Investment Limited and the over 130 accounts held by Dr. Sulaiman’s companies at Sun Trust Bank: FELAK CONCEPT GROUP LIMITED (Account No. 0001252281) and OCEAN GATE ENGINEERING OIL AND GAS LTD (Account No. 0001253422).
According to documents sighted by Pointblank, on October 6, 2020, FELAK CONCEPT GROUP LIMITED allegedly received a staggering four billion naira (N4,000,000,000.00) from MBA Trading and Capital Investment Limited.
Similarly, on October 7, 2020, FELAK CONCEPT GROUP LIMITED received N40m from ALTEX Engineering Services Ltd, a company linked to Achimugu, only to transfer the same amount to WADA AUTOS LIMITED the following day, October 8, 2020.
In a series of significant transactions, FELAK CONCEPT GROUP LIMITED allegedly N4bn back to MBA Trading and Capital Investment Limited in two instalments of N2bn each, on October 21 and 23, 2020 respectively.
Similarly, OCEAN GATE ENGINEERING OIL AND GAS LTD is alleged to have received N958m from MBA Trading and Capital Investment Limited on October 6, 2020.
Subsequently, N900m,000,000.00 was allegedly moved to MBA Trading and Capital Investment Limited on October 26, 2020, with OCEAN GATE ENGINEERING OIL AND GAS LTD retaining the balance of N58m.
The EFCC’s investigation extends beyond these financial transactions.
It also delves into the acquisition of two Oil Blocks (Shallow Water – PPL 3007 and Deep Offshore – PPL 302-DO) allegedly owned by Achimugu’s company, Ocean Gate Engineering Oil and Gas Limited, for a reported sum of $25.30m. The anti-graft agency is probing allegations of “corrupt practices in the acquisition process, including claims that bribes were paid to the officials of the Nigerian Upstream Petroleum Regulatory Commission, and that the source of the funds is questionable.”
The EFCC stated they “are not linked to the Applicant’s lawful earnings or income or any business partners.”
Despite the gravity of the allegations, the EFCC has asserted its commitment to due process. The commission maintains that it has acted within its legal mandate and denies any claims of harassment or intimidation against Achimugu as claimed by the defendant.
“The interest of justice would be served by the dismissal of the instant Originating Summons,” the EFCC stated.
The unfolding case promises to be a complex legal battle with significant implications for Nigeria’s fight against financial crime.