A BUREAU de Change (BDC) operator says it received over ₦22 billion from the Federal Ministry of Power, implicating the ministry in an alleged ₦33.8 billion fraud.
This came to the fore during the trial of Saleh Mamman, former Minister of Power, at the Federal High Court in Abuja.
The trial, presided over by James Omotosho (Justice) resumed on Wednesday, with the Economic and Financial Crimes Commission (EFCC) presenting its eighth witness, Abdullahi Suleman, a BDC operator.
The revelations were contained in a statement signed by Dele Odewale, Head of Media and Publicity at the EFCC.
According to the statement, Suleman narrated how over ₦22 billion was funneled from the ministry while Mamman was in office.
He explained that the naira equivalent was converted to U.S. dollars through multiple business accounts associated with him.
Suleman’s companies, including Prymint Investment Limited, Strong Field International Projects Limited, and several others, were allegedly used to facilitate the transactions without rendering any services or executing contracts.
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According to Suleman, the funds were moved into 12 accounts belonging to his companies, as well as an account owned by his brother’s company, Gurupche Business Enterprises.
“From my rough calculations, the amount I received through the transactions exceeds ₦22 billion,” he testified.
Suleman also disclosed his dealings with an individual named Maina Goje, who coordinated the transactions and often instructed him on converting funds to dollars.
Suleman alleged that Goje was sometimes represented by a man nicknamed “Yaro Minister,” reportedly close to Saleh Mamman.
Suleman further testified that Goje introduced him to Mustapha Mohammed, an official with the Federal Ministry of Housing, who occasionally issued instructions regarding dollar conversions.
Suleman admitted providing dollar equivalents upon Mohammed’s request.
“The prosecution presented bank statements detailing the flow of funds through Suleman’s companies, revealing that a notable transactions was ₦285.9 million received on May 24, 2021.
“Another deposit of ₦320 million was made on January 1, 2021, followed by ₦184 million on June 18, 2021. Additionally, ₦178.3 million was transferred on July 14, 2021.
“Subsequent payments included ₦75.4 million on August 5, 2021, and ₦64.7 million on February 16, 2022”, the statement reads.
Suleman confirmed receiving the funds and acknowledged their transfer as directed by Goje.
Earlier in the proceedings, a compliance officer from FCMB presented bank statements and related documents tied to Suleman’s companies. The documents were admitted into evidence as Exhibit XTUB.
Saleh Mamman is facing a 12-count charge filed by the EFCC, including conspiracy and money laundering to the tune of ₦33.8 billion.
The EFCC alleges that the former minister orchestrated a complex scheme to siphon public funds.
Omotosho adjourned the case to Thursday, January 23, 2025, for the continuation of the trial.