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Alamieyeseigha’s hidden billions: Over N6.8bn in cash and property

Posted by Achilleus Uchegbu on 2005/12/04 | Views: 750 |

Alamieyeseigha’s hidden billions: Over N6.8bn in cash and property


EMBATTLED governor of Bayelsa State, Chief Diepreye Alamieyeseigha, may have bitten more than he can chew as the Economic and Financial Crimes Commission (EFCC) have unearthed a N6.8 billion fortune allegedly belonging to him.

EMBATTLED governor of Bayelsa State, Chief Diepreye Alamieyeseigha, may have bitten more than he can chew as the Economic and Financial Crimes Commission (EFCC) have unearthed a N6.8 billion fortune allegedly belonging to him.

According to the commission, the governor may have stashed the fortune, acquired from 1999 through 2005, in cash and property he owns in Nigeria and abroad.

Already, the commission has taken its case against the governor to the Code of Conduct Tribunal with a dossier, indicating that the governor, allegedly helped himself with the state treasury.

According to the commission, the amount represents details of amounts in several bank accounts overseas and value of property alleged to have been acquired by the governor since he assumed office.

Specifically, the commission told the tribunal that Alamieyeseigha maintained and operated an account with number 10659348 with Barclays Bank Plc in the United Kingdom in which £208,753.34 (about N47,097,764.91) was found. He was also alleged to have stashed away $2.5 million (about N325.7 million) at the UBS Warburg in London, in addition to other dollar and pounds sterling accounts in the international banking unit of Barclays Bank in London.

The governor, who was arrested and being prosecuted in London over alleged money laundering was also alleged to have a separate account at the bank dedicated to Euro only. However, details of cash holdings in the accounts were not disclosed.

Meanwhile, EFCC, also alleged before the tribunal sitting in Kaduna that Governor Alamieyeseigha, who is currently facing impeachment charges before Bayelsa State House of Assembly also allegedly stashed away £500,000 (about N112.8 million) at the JYSKE bank in Denmark, adding that the governor’s account at the bank with number 5005220454.7 held the amount in cash as at November 17.

Further, the commissions, urging the tribunal to commence prosecution of the governor, alleged that £1.4 million (about N315.8 million) was found in an account he held at another bank in London even as value of a property the governor bought in 2003 at 14 Mapusbury Road, London, was put at about 1.4 million pounds sterling.

Also, another property, traced by EFCC to the governor and situated at 14 Jubilee Heights, London, was valued at £241,000 (about N360.5 million) even as the commission alleged that the property was not declared in the governor’s asset declaration form.

According to the commission, another property bought for £3 million (about N676.7 million) in 2003 was traced to the governor. The EFCC alleged that the property is situated at No. 68-70 Regents Road, London, adding that the cost of the property did not reflect Governor Alamieyeseigha’s income put at less than $1000 a month.

Back home, the commission also alleged that amounts totalling over N4.5 billion was traced to the governor in different banks with about N1 billion in shares at the Bond Bank.

Though the governor is yet to file his reply to the tribunal, the commission alleged that he spent N1.5 billion for Chelsea Hotels at Abuja which he had allegedly bought for N2 billion, adding that a luxury flat at Abacha Estate, Ikoyi, valued at N450 million, also belonged to the governor.

It also listed a property at John Kadiya Street, Asokoro, Abuja, valued at N350 million and six duplexes off Allen Avenue in Lagos, valued at N200 million, as allegedly belonging to the governor.

The commission, poised to prove its case against the governor, also alleged that he hid ownership of properties at Plot 916 and 917, Wuse II, Abuja; Plot 7 Cadastral Zone, Abuja; Plot 1267, Amazon Road, Abuja; Plot 3375 Cadastral Zone, Abuja; Plot 1372-1374 Cadastral Zone and Plot 1281 Cadastral Zone, Asokoro, Abuja, alleging that their ownership has been traced to the governor.

Besides, the commission alleged that the governor had accepted transfers from contractors in London to the tune of £475,724.08 amounting to about N107.3 million, representing bank transfers from HSBC London to him.

It also alleged that £420,000 and £409,761.24, representing about N94.8 million and N92.7 million were received by the governor from contractors working for the state banks in London, and thus contravened sections of the Code of Conduct Act as enshrined in the fifth schedule of the 1999 constitution.

A summary of amount involved in the suit indicate that the governor may have fleeced the state off about N6.8 billion even as the commission maintains that the amount did not reflect the governor’s official earnings.

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Comments (3)

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Okfold(Sobe, Edo, Nigeria)says...

I want the meaning of female owan name Ekeke (Edo state)

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Toluwalase Samuel Olufemi(Ijebu, Ogun, Nigeria)says...

Authority belongs to God, once He decrees it is final and binding

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Ikponmwosa Osamede(Edo, Nigeria)says...

Your meaning of Osamede is wrong. Osamede means God has given me a crown