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8:19:12 PM
Africa's wealthiest woman transferred N500m to former first lady
The Economic and Financial Crimes
Commission (EFCC) have accused Forbes’
African wealthiest woman of transferring
N500 million to Nigeria’s former first lady
– The commission said Bola Shagaya has
been under investigation for six months now
– The EFCC has also frozen a unity bank
account belonging to Shagaya with N500
million balance.
Africa’s wealthiest woman Bola Shagaya
Details have emerged how Forbes’ wealthiest
African woman Bola Shagaya made
suspicious bank transaction to accounts
belonging to former Nigeria’s first lady
Patience Jonathan.
The Economic and Financial Crimes
Commission (EFCC) said Shagaya, a Nigerian
business woman has been under the
commission’s investigation for about six
month.
The commission has also frozen one of
Shagaya’s bank account.
Punch reports that the commission began
investigating the founder and Chief Executive
Officer of Bolmus Group International – a
diversified Nigerian conglomerate with
interests in oil, real estate, banking,
communications and photography – due to
her links with Patience.
Shagaya’s account with unity bank which
had a balance of N500 million was frozen by
the commission.
A source within the commission said: “When
we were investigating Patience and
looking into her accounts, we discovered
that Bola Shagaya had been making huge
and regular payments into her
(Patience’s) bank account.”
“We then discovered that the monies were
kickbacks. The Ministry of Trade and
Investment gave suspicious commission
to Shagaya’s company on every crude oil
sent abroad. The commission was put in
an account for Bola Shagaya. The money
will then go to Patience’s account. So we
started investigating her.
“We were able to trace the N500m to her
account at Unity Bank. So, we placed a
‘No Debit Order’ on the account,” the
source said.
The source also said when Shagaya realized
that her account had been frozen, she rushed
down to the bank and tried to use her
position as a board member of the bank to lift the ristrictions.
“When she heard about the restriction,
she ran down to the bank to stop the
order from being carried out. We then
called the bank to let them know that
doing such would amount to a criminal
conspiracy. At that point, she had no
choice,” the source said.
However, reacting the reports, the business
woman said she cared less about such
reports.
She said: “Please, don’t call this number. I
am sleeping. Write anything you want to
write.”
Meanwhile, the EFCC had earlier frozen all
accounts belonging to the former first lady.
However, Patience had also claimed that part
of the funds confiscated by the commission
belonged to her late mother.
She has also accused the commission’s
operatives of being thieves and lying against
her.
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