Wike locks horns with EFCC over fresh probe into Rivers’ finances

The Economic and Financial Crimes Commission is investigating the Rivers State Government for alleged cash withdrawals totalling N 117 bn .The PUNCH gathered on Sunday that the withdrawals from the account of the state government were made in the last three years .

A top official of the commission , who confided in The PUNCH on Sunday , said the “ curious ” withdrawals violated the Money Laundering ( Prohibition ) Act .

He stated , “ In all , we are investigating cash withdrawals totaling N 117 bn from the Rivers State accounts in the last three years . The manner the money was withdrawn was suspicious . ”

The EFCC source , who cited some of the withdrawals , which he said were curious , said 45 different cheques were issued in the name of one person on June 8 , 2015 .

According to him , a total of N 450 m were withdrawn from the state government account in the Zenith Bank that day .

He also gave an example of total withdrawal of N 500 m on June 9 , 2015 through 50 different cheques .

The PUNCH learnt that the commission was on the trail of four different suspects over the suspicious withdrawals from the Zenith Bank by the Rivers State Government .

It was gathered that the EFCC would this week invite the Director of Finance and Administration in the Rivers State Government House , Similari Fubura , for interrogation over the withdrawals .

The EFCC source said some senior members of staff of the Zenith Bank were invited by the commission last week , but he could not confirm the exact date of the invitation and whether they had honoured it .

The Head , Corporate Communications of Zenith Bank , Mr Victor Adoji , could not be reached for comments .

Calls sent to his mobile number did not go through while a text message sent to him had yet to be responded to as of 8 . 30 pm .

Wike dares EFCC , says no Rivers official will appear before it

But the Rivers State Governor , Nyesom Wike , has declared that no official of the Rivers State Government will appear before the EFCC over what he called politically- motivated investigations until the commission approached the Court of Appeal to set aside the 2007 judgment barring the commission from investigating the state .

A statement on Sunday signed by the Special Assistant to the Rivers State Governor on Electronic Media , Simeon Nwakaudu , quoted Governor Wike as describing the alleged action of the EFCC as a political witch – hunt .

“ We are not afraid of their probe and they have no power to probe us . No government official will appear before the EFCC until they set aside the court judgment of Rivers State Government against them in 2007 . We cannot be intimidated .

“ They filed for leave to appeal the judgment at the Court of Appeal . Until they set aside the judgment , we will not come, ” Wike insisted .

The governor pointed out that the media trial by the EFCC would amount to nothing , adding that the state government was aware of the move before it even started .

“ We are aware of their tricks . They should not bother engaging in media trial because it will not work . This is a mere political witch – hunt . They must obey the rule of law . We have filed another action against the EFCC .

“ Because they have been served, they are telling the Press that they have started investigating Rivers State Government . This media war by the EFCC will not work . We stand on the rule of law , ” Wike added .

The statement , however , recalled that he had said that the recent freezing of Akwa Ibom and Benue states accounts by the anti – graft agency was targeted at Rivers State and added that the EFCC had already been detailed to carry out “ very unconstitutional activities . ”

Wike said , “ There is no worse impunity than for the EFCC to shut down a tier of government through the freezing of the accounts of two state governments .

“ An agency of Federal Government had frozen the accounts of Akwa Ibom and Benue State Governments . This is the worst coup against the constitution and the law -abiding people of those states.

“ But the target is not Benue or Akwa Ibom states . The real target is Rivers State. The EFCC as a federal agency has no business with state funds . That is the responsibility of the state House of Assembly . ”

According to Part 1 of the Money Laundering ( Prohibition ) Act , 2011 , titled , ‘ Limitation to make or accept cash payment , ’ “ No person or body corporate shall , except in a transaction through a financial institution , make or accept cash payment of a sum exceeding – ( a ) N 5 , 000 , 000 . 00 or its equivalent , in the case of an individual ; or b ) N 10 , 000 , 000 . 00 or its equivalent in the case of a body corporate . ”

The act also states that “ a transfer to or from a foreign country of funds or securities by a person or body corporate including a Money Service Business of a sum exceeding US $ 10 , 000 or its equivalent shall be reported to the Central Bank of Nigeria , Securities Exchange Commission or the Commission in writing within 7 days from the date of the transaction . ”

Recall that The PUNCH had in June 2016 reported , based on a document obtained from the EFCC , that the agency might probe the Rivers State Government over suspected withdrawal of over N 11 bn from the government’ s accounts .

According to the report , Fubara allegedly withdrew the funds from the government’ s account with the Central Bank of Nigeria .

About N 1 . 5 bn was said to have been transferred from the state ’ s account with the CBN to the Zenith Bank Plc account that belongs to one Mr . Samuel Anya “ on or about January 27 , 2016 . ”

The EFCC document indicated that Fubara commenced the alleged suspicious withdrawals with N 1 bn on October 15 , 2015 and followed by another N 1 bn six days later on October 21 , 2015 .

He was also said to have withdrawn N 269 m from the account on November 2 , 2015 ; N 300 m on November 3 , 2015 , and N 500 m on November 4 , 2015 .

In December 2015 , three of such withdrawals also took place with N 200 m withdrawn from the account on December 12 ; N 240 m on December 22 and N 460 m on December 23 .

According to the document , Fubara also allegedly withdrew N 6 . 1 bn from the same Rivers State’ s account between January 5 , 2016 and February 9 , 2016 in 11 tranches.

Five of the withdrawals , which took place in January , 2016 , in the following order : N 849 . 5 m withdrawn on January 5 , 2016 ; N 300 m on January 7 , 2016 ; N 250 m on January 14 , 2016 ; N 750 m on January 15 , 2016 , and N 200 m on January 22 , 2016 .

The rest of the six withdrawals in February , 2016 were N 500 m on February 1 ; N 600 m on February 2 ; N 300 m on February 4 ; N 200 m on February 5 ; N 1 bn on February 8 ; and N 1 . 2 bn on February 9 .

Indicating the various sums of money was in cash withdrawal , the document stated that the money was “ delivered and received by Mr Fubara . ”

The source added , “ We were also asked to investigate the withdrawal of N 1 . 5 bn on or about January 27 , 2016 , by one Mr Samuel Anya of 69 B Forces Avenue , old GRA , Port Harcourt , Rivers State from the state ’ s account with CBN through the transfer of the money to his account 0248922015 with Zenith Bank . ”

The fresh investigation into the Rivers State Government ’ s finances comes less than three weeks after the EFCC launched a full probe into the finances of Benue and Akwa Ibom states , temporarily freezing their accounts .

Rivers , Benue and Akwa Ibom states are all being ruled by the opposition Peoples Democratic Party .

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