How EFCC Saved American From Losing $130 Million

A 62-years old businessman, Alhaji Umar Audu Bida, has been arrested by the Economic and Financial Crimes Commission (EFCC) on an alleged fraud of about $130m.

EFCC Chairman, Ibrahim Lamorde

Mr Bida is being investigated for an alleged possession of some documents of the Nigerian National Petroleum Corporation for the supply of Crude oil to his American business partner, Donald Laletta, the Chief Executive Officer, Park LLLC.

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According to the Head of Media and Publicity of the EFCC, Wilson Uwujaren, the alleged was arrested by men of the anti-graft agency in Kaduna on Tuesday for alleged possession of fake documents for the lifting of crude oil by some vessels- MT Antartic, MT Sonagol Namibe and MT Caped Bowen.

EFCC said the suspect claimed he obtained the documents from the agent to a seller, Lambda, Double Wonder and Days Marines Services, who was alleged to have claimed to have crude oil for sale, Punch reports.

Uwujaren said that the CEO of the American firm had told the EFCC that the suspect allegedly attempted to defraud him after signing a Sale and Purchase Agreement with him.

He also claimed to have paid the suspect the sums of $8m, $10m and $12m on different occasions in addition to raising a letter of credit to the suspect’s firm via a courier company to the tune of $100m.

READ ALSO: Visa Scam: Indian Man Arrested By Police In Lagos

Meanwhile, a federal high court has barred anti-graft agencies from arresting or probing Kingsley Kuku, the former president Goodluck Jonathan’s special adviser on the Niger Delta and the chairman of the amnesty programme.

But a Benue state ex-governor, Dr Gabriel Suswam, who is being probed by his successor, Samuel Ortom, has opened up for the first time on corruption allegations leveled against him.

Suswam stated that he is not scared of the EFCC adding that the probe may have set a bad precedent in the state and anyone could be next on the line.

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