EFCC

The Economic and Financial Crimes Commission (EFCC) has concluded plans to file money laundering charges in court to hasten the extradition of the former Vice-Chairman of Intercontinental Bank, Mr. Erastus Akingbola, an Abuja businessman, Mr. Dele Oye, and Nanashetu Bedell, a former nanny to the erstwhile Managing Director of Oceanic Bank Plc, Mrs. Cecilia Ibru.

The commission is also going to re-arraign Mrs. Ibru, Oye and Bedell for allegedly granting $110million and N6billion loans without collateral.

Investigation by The Nation revealed that the commission took the decision to head for court to seek an extradition order after Akingbola, Oye and Bedell refused to show up.

A source in the commission, who spoke in confidence with The Nation yesterday, said: "We have no choice than to file charges in court to hasten the repatriation of these suspects. We will file the charges in the next one week.

"We have reports that while Akingbola and Oye are in the UK, Bedell has escaped to the United States. We have to go to court to prove that they have cases to answer before our request for their extradition can be granted. Our decision is in line with the Mutual Legal Assistance Treaty with the UK and the United States.

"We hope that on or before the end of the year, we should be able to repatriate these suspects for trial in Nigeria."

The source confirmed that Mrs. Ibru might face fresh charges bordering on money laundering alongside Oye and Bedell.

Ibru and others will face charges over $110million and N6billion loans granted without collateral.

The source said: "As the CEO of Oceanic Bank, Mrs. Ibru gave Dele Oye $110million and N6billion loans which were without collateral.

"The funds were given to Waves Nigeria Limited, which was owned by Ibru’s son before 2006. As at the time the loans were advanced, the company had a share capital of N1million.

"We have discovered that after granting the $110million loan to Waves, the company in turn paid $10million directly into Cecilia Ibru’s account abroad.

"We also have fact that the same Waves is the company building a new property in Waterfront, Victoria Island, Lagos, which will house the new Oceanic Bank Headquarters. The land on which the office complex is being built is owned by the Ibrus.

"Although the building is yet to be completed, Oceanic Bank has paid $22million rent for 10 years."

The Head of Media and Publicity of the EFCC, Mr. Femi Babafemi, said: "I don’t have the details you referred to but I know that the commission is still working on the cases of some of the suspect being referred to."

Source: The Nation