How Police Pension Boss Embezzled N24 Billion

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The trial of Esai Dangabar, former director at the Police Pension Fund, on charges of corruption and money laundering, continued at the FCT High Court in Abuja, on Wednesday, with a prosecution witness telling the court how the accused person moved N24 billion into different accounts.

The Witness, Mustapha Gadanya, is an official of the Economic and Financial Crimes Commission, EFCC, and was among the team that investigated the matter.

The News Agency of Nigeria, NAN, reports that Gadanya, who was led in evidence by the EFCC counsel, Rotimi Jacobs, SAN, told the court that bank analysis revealed that Dangarbar fixed some amount in the bank to yield turnover.

He said that about N320 million was deposited in Skye Bank between May 2008 and July 2009, using his companies, Marine Logistics and leisure Integrated Ltd.

The turnover which accrued to him amounted to N249.8 million and N241 million, respectively which was later sent to the Federal Government after it was discovered.

He also informed the court that the Manager of Skye Bank, Jabi branch, helped the ex-director to launder about N840 million between February 2009 and June 2010.






     

     

    The witness added that Dangabar was also discovered to be the Managing Director and the sole signatory to the account of Damule Nigeria Limited, the company where his son was listed as director.

    He also told the court that Dangarbar’s 16 duplexes at Wuye District and six flats at Efab, in Abuja, had been forfeited temporarily to the Federal Government.

    Justice Husseni Baba-Yusuf, adjourned the trial till Thursday for continuation of hearing.

    Dangabar, Atiku Kigo, Ahmed Wada, Veronica Onyegbula, Sani Zira, Uzoma Attang and Christian Madubuke, are standing trial for complicity in the over N24bn scam in the police pension office.

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