A September 5, 2006 EFCC investigative report has again become a subject of public attention amid calls for accountability over allegations of financial mismanagement involving the Petroleum Technology Development Fund (PTDF).
According to the report, the investigation followed a request from the United States Attorney’s Office concerning business dealings involving iGATE, NDTV and several individuals and companies. The EFCC subsequently sought explanations from then Vice President Atiku Abubakar regarding the approval and placement of PTDF funds in certain banks.
Part of the EFCC Report On Atiku below
September 5, 2006
Your Excellency’s attention is being drawn to the request made by the United State Attorney’s Office, Department of Justice via a letter Ref: MEW:DPW:KDL:AV 1 File 182.23818 dated June 22, 2006. The US Attorney’s office requests for certain investigations to be carried out by the EFCC with regards to a business venture involving iGATE an American company and NDTV, a Nigerian company. Pursuant to this request I caused an in-depth investigation to be conducted. I append below a detailed report of the investigation as follows:-
FACTS: The United States Attorney’s office for the Eastern District of Virginia, The United State Department of Justice, Criminal Division, Fraud Section, and the Federal Bureau of investigation (FBI) are investigating possible violations of federal law, including offences involving bribery of public officials, wire fraud (depravation of honest services and scheme to defraud), bribery of a foreign public official and conspiracy.
The US Central Authority request that Nigerian Authority locates and provides the documents and information on some government officials/institutions, private companies and individuals in relation to the official acts of the congressman in promoting US business ventures in Africa as its relate to IGate/ NDTV business venture, iGate/Rosecom among others. The request of information revolves around the following individuals and companies.
S/N Full Name
1 Atiku Abubakar
ABUBAKAR ATIKU STATEMENT
His Excellency, the vice President, Atiku Abubakar was contacted through a letter EFCC/EC/VP/02/10 dated 18.08.06 to clarify issues raised in relation to his alleged role in approving the release of funds to PTDF without recourse to the Federal Executive Council and their subsequent placements in two banks of his choice. He responded that all placements in Banks approved by him were based on the convincing reasons advanced by the then Secretary of the Fund. He further explained that he was also conscious of the fact that all the projects covered by the approvals would eventually be subjected to ‘Due Process’ certification and Federal Executive approval. And that it was even some few weeks back that approval of some of the contracts were given by the Executive Council. Again, he explained that there is usually a considerable time lag between project approval and actual implementation. It was therefore impracticable to carry out specified projects immediately money was approved or released. Still in his response, the Vice President, went ahead to explain the placement of some of the funds in ETB that it was based on their judgment on the safety of the investment on maturity and the reasonableness of the returns on investment, bearing in mind what obtained in the industry at the material time. However, it is pertinent to mention here that His Excellency kept mute in respect of TIB, keeping in mind what he stated as regards the placements of the fund in ETB.
On the procedure for the approval of funds for PTDF, the Vice President responded that the Executive Secretary usually forwards his request to him, depending on the nature of such request; he made recommendations to Mr. President for approval. On the issue of US50 million transferred from PTDF’ UBA New York account, the VP stated that he cannot remember the circumstances surrounding the movement of the funds to ETB, neither could he recollect giving approval for such movement. Lastly, N30 million initial payment for the purchase of No 555 Adetokumbo Ademola Crescent used as NDTV Headquarters, the Vice President admitted given out the amount, but as a loan at the request of Otunba Fasawe to secure the building for his office.
He also forwarded correspondences between Jefferson and himself but he denied having any knowledge of any correspondence between him on one hand and iGate and NDTV on the other. He further responded that he does not know Rosecom.Net in any capacity but that Mr. Vernon Jackson was introduced to him as Chief Executive of iGate during a private visit to the US. He concluded that we should refer to Mrs. Jamila Atiku Abubakar for any correspondence between her and Mr. Jefferson as he is not in a position to produce any.
Atiku Abubakar Statement was recorded by the Efcc Efcc Nig supervised and submitted by its Chairman Nuhu Ribadu.
