Shamsudeen Bala, the son of a former Minister of the Federal Capital
\nTerritory (FCT), paid about N1billion cash for plots of land and houses,
\naccording to the Economic and Financial Crimes Commission (EFCC).<\/p>\n
The suspect will be arraigned in court today alongside four others\u2014 Bird
\nTrust Agro Allied Ltd, Intertrans Global Logistics Ltd, Diakin
\nTelecommunications Ltd and Bal-Vac Mining Ltd.
\nAll the suspects are to face a 15-count charge at the Federal High Court,
\nAbuja.<\/p>\n
According to the EFCC, the son of the former minister, Bala Mohammed, paid
\ncash for five plots of land and four properties in highbrow areas of Abuja
\nto avoid any suspicion by banks and other monitoring agencies.
\nThe purchases include five plots at Asokoro Gardens; House FS 2 B, Green
\nAcre Estate Apo-Dutse, Abuja; House FS 1A, Green Acre Estate, Apo-Dutse;
\nFS 1B, Green Acre Estate, Apo-Dutse, Abuja and House 2A, No. 7, Gana
\nStreet, Maitama, Abuja.<\/p>\n
The anti-graft agency is accusing Shamsudeen of money laundering for
\nallegedly making cash payment for choice houses in excess of the statutory
\nlimit without going through a financial institution.<\/p>\n
Three of the duplexes traced to Shamsudeen have been seized in line with
\nsections 28 and 34 of the EFCC (Establishment Act) 2004 and Section 13(1)
\nof the Federal High Court Act, 2004, which empower the anti-graft agency
\nto invoke Interim Assets Forfeiture Clause.<\/p>\n
\u201cSection 28 of the EFCC Act reads: \u2018Where a person is arrested for an
\noffence under this Act, the Commission shall immediately trace and attach
\nall the assets and properties of the person acquired as a result of such
\neconomic or financial crime and shall thereafter cause to be obtained an
\ninterim attachment order from the Court.\u2019<\/p>\n
The EFCC gave details of how the plots of land and mansions were bought in
\nthe 15 charges against Shamsudeen and four others.<\/p>\n
The charges read: \u201cThat you Shamsudeen Bala (alias Shamsudeen Mohammed
\nBala), Bird Trust Agro Allied Ltd, Intertrans Global Logistics Ltd, Diakin
\nTelecommunications Ltd and Bal- Vac Mining Ltd sometime in 2015 in Abuja
\nconspired amongst yourselves to make cash payment exceeding the statutory
\nlimit without going through a financial institution and thereby committed
\nan offence contrary to Section 18(a), of the Money Laundering
\n(Prohibition) Act, 2011 (as amended by Act No. 1 of 2012 and punishable
\nunder Section 15(3) and (4) of the same Act.<\/p>\n
Shamsudeen and the others are said to have paid:
\n\u2022N80million cash to Sunrise Estate Development Ltd for the purchase of
\nplot nos. 2116 and 2276 at Asokoro Gardens (alias Sunrise Estate) Abuja
\nwhich sum exceeded the statutory limit and thereby committed an offence
\ncontrary to Section 1 of the Money Laundering (Prohibition) Act, 2011 as
\namended in 2012 and punishable under Section 16(2)(b) and (4) of the same
\nAct;
\n\u2022N100million cash to Sunrise Estate Development Ltd for the purchase of
\nplot nos. 2116 and 2276 at Asokoro Gardens (alias Sunrise Estate) Abuja
\nwhich sum exceeded the statutory limit and thereby committed an offence
\ncontrary to Section 1 of the Money Laundering (Prohibition) Act, 2011 as
\n(amended by Act No. 1 of 2012) and punishable under Section 16(2)(b) and
\n(4) of the same Act;
\n\u2022N110,000,000.00 cash to A & K Construction Ltd, Abuja and Sunrise Estate
\nDevelopment Ltd for the purchase of plot nos. 2116 and 2276 at Asokoro
\nGardens, which sum exceeded the statutory limit and thereby committed an
\noffence contrary to Section 1 of the Money Laundering (Prohibition) Act,
\n2011 as (amended by Act No. 1 of 2012) and punishable under Section
\n16(2)(b) and (4) of the same Act;
\n\u2022N200,000,000.00 cash to A & K Construction Ltd Abuja and Sunrise Estate
\nDevelopment Ltd for the purchase of plot nos. 2116 and 2276 at Asokoro
\nGardens, which sum exceeded the statutory limit and thereby committed an
\noffence contrary to Section 1 of the Money Laundering (Prohibition) Act,
\n2011 as amended by Act No. 1 of 2012 and punishable under Section 16(2)(b)
\nand (4) of the same Act.
\n\u2022N296,000,000.00 cash to A & K Construction Ltd Abuja for the construction
\nof a house on plot nos. 2116 and 2276 at Asokoro Gardens (alias Sunrise
\nEstate), Abuja which sum exceeded the statutory limit and thereby
\ncommitted an offence contrary to Section 1 of the Money Laundering
\n(Prohibition) Act, 2011 (as amended by Act No. 1 of 2012) and punishable
\nunder Section 16(2)(b) and (4) of the same Act;
\n\u2022N45,475,000.00 only to Abuja Investment Company Ltd as part payment for
\nthe purchase of House FS 2 B Green Acre Estate Apo- Dutse Abuja;
\n*N74,244,005.00 cash to Abuja Investment Company Ltd as part payment for
\npurchase of House FS 1A Green Acre Estate Apo-Dutse Abuja;
\n\u2022N74, 244,005.00 only to Abuja Investment Company Limited as part payment
\nfor purchase of FS 1B Green Acre Estate Apo-Dutse, Abuja; and paid
\n\u2022N200million cash to Faruk Saleh at Abuja for House 2A, No. 7 Gana Street,
\nMaitama Abuja;
\nShamsudeen Bala(alias Shamsuden Mohammed Bala) is accused of failing on
\nJune 2016 to make full declaration of his assets to wit: your accounts
\ndomiciled at Standard Chartered Bank Plc when he completed the EFCC Asset
\nDeclaration Form A, contrary Section 27(1) of the EFCC (Establishment) Act
\n2004 and punishable under Section 27(3) of the same Act.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shamsudeen Bala, the son of a former Minister of the Federal Capital Territory (FCT), paid about N1billion cash for plots of land and houses, according to the Economic and Financial…<\/p>\n","protected":false},"author":1,"featured_media":51957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-55855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n