By Baron Ike
Head of Operations of Fidelity Bank, Timothy, Olaobaju on Wednesday, June 28 dropped what looked like an indictment when he told the Federal High Court, Lagos that his boss, Nnamdi Okonkwo had an understanding with former Petroleum Minister, Diezani Alison-Madueke on how to disburse the millions of dollars ($115m) brought to the bank under Okonkwo’s care.
Serving as prosecution witness in the matter of the Economic and Financial Crimes Commission (EFCC) with Fidelity Bank and some staff of the Independent National Electoral Commission (INEC) over conspiracy, money laundering, gratification, and making cash payment exceeded the amount authorised by law without going through financial institutions, Olaobaju also told the court that was presided over by Justice Mohammed Idris that two INEC employees, Christian Nwosu and Yisa Adedoyin, got N264million from Mrs. Alison-Madueke apparently to rig the 2015 general election.
According to the Fidelity Bank Chief, his overall boss Okonkwo, had a meeting with Mrs. Alison –Madueke on how to disburse the $115million that was brought to the bank, including how it should be disbursed and those to make more deposits, all in hard currency.
Being led in evidence by the prosecution lawyer, Rotimi Oyedepo in the trial of Nwosu and Tijani Inda Bashir in the matter involving the Mrs. Alison-Madueke, Okonkwo and the Economic and Financial Crimes Commission (EFCC), Olaobaju told the court that the money was paid to Nwosu and Adedoyin in cash.
Nwosu and Adedoyin were arraigned by the EFCC for allegedly receiving bribe from the former minister. When the charge was first read to them, Adedoyin had pleaded guilty to the charge and based on plea bargain arrangement, was convicted.
As head of operations of Fidelity Bank in Ilorin, Kwara State, Olaobaju, said he paid Nwosu and Adedoyin the money in cash according to instructions from hjis bank and Mrs. Alison-Madueke.
His words: “I was the Head of Operations for Ilorin Branch. I had cause to meet Nwosu and Adedoyin. Sometime in 2015, there was a meeting between our Managing Director and former Petroleum Minister during which she explained that some companies and individuals would come to the bank to pay some money into some accounts.
“The companies were Northern Belt Ltd, Actus Integrated Ltd, Midwestern Company and one Mr. Leno Laitan. In addition, she said certain individuals would bring some cash to be kept for her.
“A total sum of $89million was paid into the accounts. Cash sums of $25million was brought, totaling $114million. The money was kept in the bank pending her instruction as agreed.
“On March 26, 2014, we got instruction that the money be converted to naira. After it was converted, it was about N23billion. There was a list of beneficiaries that was sent, to be paid across the 36 states of the federation, including Kwara. I handled the transactions in my branch.
“There was an instruction that Nwosu and Adedoyin be paid N264, 880,000. The instruction came from the head office based on instruction from Mrs. Alison-Madueke and they were paid. They signed a receipt of payment for the money they collected.
“After the defendants were paid, they left with the cash and did not pay it into any account.”
When cross examined by the defence counsel – Obinna Okereke and Nelson Imoh – the Olaobaju said he did not know the reason of the disbursement of the money.
He said: “The only instruction we had is that they should bring means of identification and should be paid. They even waited for the money to be released to them. We did not know the purpose of the payment.”
The matter continues Thursday, June 29 continuation of trial.
In the charge sheet designated FHC/L/106c/2017, the EFCC made an allegation that the INEC officials together with Mrs. Alison-Madueke on March 27, 2015, conspired among themselves to directly take possession of N500, 760 million, which formed parts of proceeds of unlawful act.
Specifically, the EFCC pointed accusing fingers at Tijani Inda Bashir for taking possession of N164, 880 million, which forms part of the proceeds of unlawful act, as gratification.
Also, Yisa Olanrewaju and Christian Nwosu were said to have got N70, 050 million and N30 million respectively from Tijani Inda Bashir, without going through financial institutions.
According to the EFCC, the offences offends Sections 18(a), 15(2)(d), 1(a) 16(d) of the Money Laundering (Prohibition) (Amendment) Act, 2012, and punishable under Sections 15(3) 16(2)(b) of the same Act.