A one hundred and sixty million naira insurance scam currently rocking the Nigerian Export Processing Zone Authority (NEPZA) appears set to consume its first casualty as the Managing Director, Sina Agbouaje, who is in the eye of the storm, may have been directed to prepare to leave the establishment.
Information at the disposal of elendureports.com indicate that the Managing Director who was involved in a shouting bout with Okpejumi, the General Manager, ZAT & Technical Services whom he accused of leaking the scam to the press, at the Authority’s Management meeting held early March, have intensified efforts to stave off the call for his resignation.
Spokesman to the Economic and Financial Crimes Commission, Femi Babafemi confirmed that the anti graft agency had been investigating the issue but however stated that the agency had not informed or directed the embattled Managing Director to resign.
According to Babafemi, “We don’t direct people to resign. What we do is that after investigating any establishment we communicate to the supervising body with our findings and request for the dissolution of the management or Board to enable us commence with the prosecution of those found to have breached the provision of the concerned establishment.”
He further stated that the anti graft agency is witnessing a temporary delay from the end of the National Insurance Commission to whom they had written a letter requesting for certain information to assist the agency in getting to the root of the matter as the issue bordered on insurance issues . The EFCC, Babafemi said, had sent the Investigating Officer handling the matter this morning to the National Insurance Commission to find out what is delaying their response to the anti graft body’s letter.
The NEPZA boss was alleged to have made a request of 149.098 million naira from the Principal Accounting Officer, O.A.N Babalola who is a level 13 officer in the organization for Fire Insurance, Generator Insurance and Burglary Insurance for the Authority.
An Assistant General Manager (Audit) was said to have queried the amount as this was way above the fund envisaged for that purpose. The Managing Director who, obviously had made up his mind on the requested sum, was alleged to have arranged for the sum of Five Hundred Thousand Naira for the Auditor to remove all forms of barriers to getting the money released.
The Auditor pocketed the money but still refused to play along with the scam. This, our source revealed, infuriated Agbouaje to the point of threatening the life of the Auditor. For fear of his life, the auditor reported the matter to the Economic and Financial Crimes Commission (EFCC) and surrendered the “bribe” money to the Commission. The Managing Director as well as the Legal Adviser to the Authority, Manko Bagudu were subsequently arrested and detained for 4 days for interrogation which in turn led to further investigations.
The EFCC spokesman said the investigation into the matter has been partially concluded with just a little gap remaining which will be filed with the response from the National Insurance Commission before the agency will move into the prosecution stage where those found culpable will be charged to court for arraignment and prosecution.
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