N29bn fraud trial: How Nyako, Son laundered N1.8bn – Witness

A detective with the Economic and Financial Crimes Commission,
EFCC, Adekunle Odofin, on November 29, 2018, told a Federal High
Court, sitting in Maitama, Abuja, how a former governor of Adamawa
State, Murtala Nyako, allegedly laundered over N1.8billion
belonging to the state, using a company co-owned with his son,
Abdul-Aziz Nyako, a Senator.

Odofin, the twentieth prosecution witness, had on November 27,
2018, told the court how two people (Mohammad Maj Iro and Dalhatu
Abdulmalik) who were crucial to the prosecution of the case,
mysteriously died at the point of filing the case in court.

Nyako is being prosecuted by the EFCC, alongside his son,
Abdul-Aziz, Abubakar Aliyu and Zulkifikk Abba, on a 37-count charge
of criminal conspiracy, stealing, abuse of office and money
laundering to the tune of N29billion.

Five companies that allegedly served as conduit pipes for the
illegal diversion of the funds – Blue Opal Limited, Sebore Farms &
Extension Limited, Pagoda Fortunes Limited, Tower Assets Management
Limited and Crust Energy Limited, were equally charged before the
court as the 5th to 9th defendants.

Continuing his evidence, while being led by Rotimi Jacobs, SAN,
Odofin told the court how Nyako allegedly used a company, Blue Opal
Limited, co-owned with his son, Abdul-Aziz, to launder over
N1.8billion belonging to Adamwa State government, with the help of
the late Mahammad Maj Iro, the former General Manager Zenith Bank
PLC, Adamawa State.

The witness explained to the court that one of the defendants in
the case, Abubakar Aliyu, who was the Principal Special Assistant
to Nyako on Debt Management, was in charge of the finances of Blue
Opal Limited.

The detective said parts of the huge sums of money pulled from
the state account, was used to develop Hillview Estate, using the
company of his son, Blue Opal Limited.

Testifying further, Odofin told the court how nine companies
subscribed to one duplex each in the estate.

He said: “The first company, Amdak Investment Limited, owned by
late Dalhatu Abdulmalik, cousin to Nyako, paid the sum of
N240million to the sales account of the 5th defendant, Blue Opal
Limited, domiciled in Zenith Bank. The second company, Kirkelly
Investment Limited equally owned by Abdulmalik also paid
N240million to the sales account of Blue Opal Limited. The third
company, Pinkola Engineering Limited, which was also owned by the
deceased, equally paid N240million naira into the sales account of
Blue Opal.

“The 4th company that subscribed to the estate is Pagoda Fortune
Nigeria Limited and it paid N240million to the sales account of
Blue Opal Limited. The 5th company that subscribed to Hillview
Estate is Pagoda Petroleum Limited and it paid N240million into the
sales account of Blue Opal Limited.

“The 6th company was Packpoint Limited. It paid N105million into
the same account for the subscription of a unit in the estate. The
7th company was Masterlink Limited and it paid N195milion to the
same account. The 8th company was MHN Enterprises Limited. It paid
the sum of N105million to the sales account of Blue Opal Limited
and the 9th company, Zaitun Farms Developers Limited, equally paid
N240million naira into the sales account of Blue Opal Limited”.
Odofin said that these monies were paid on different dates between
2011 and 2012.

He said: “The question is, how were these monies paid? My lord,
a critical analysis of Zenith Bank accounts of seven out of nine
companies, excluding Masterlink and MHN Enterprises Limited, showed
that part of these monies used in subscribing in Hillview Estate,
was transferred from Zenith Bank account to the sales account of
Blue Opal Limited.

“Also, out of the bulk money Moj Iro pulled out from two
accounts belonging to the state (Special Service Department, SSD
and Secretary to the State Government), was deposited on behalf of
these companies to the sales account of Blue Opal Limited.

“My lord, part of the money Maj Iro also pulled from the state’s
account, was transferred to Tower Asset Management Limited,
domiciled in Zenith bank”.

When given exhibit L33, (Abubakar Aliyu’s statement to the EFCC)
the witness read, “My lord, L33 page 2, I read, “when i noticed the
frequency of the transaction on the account and the magnitude of
the transaction, I approached Mr. Maj Iro to tell me the source of
this money, he said to me that the monies are coming from Adamawa
State Government account”.

Justice Abang, thereafter, adjourned to November 30, 2018 for
continuation of trial.

Related