By Helen Okechukwu, JKNewsMedia Reporter
A FORMER Minister of Power, Saleh Mamman, faces charges of money laundering in a case involving N33.8 billion linked to Nigeria’s power projects.
The Economic and Financial Crimes Commission (EFCC) said it began proceedings on July 11, 2024, with a 12-count charge against the ex-minister for conspiracy and money laundering related to the Mambilla Hydroelectric Power Project.
The trial resumed on September 25, 2024, with new evidence.
Abubakar Kweido, an EFCC operative and the first prosecution witness (PW1), detailed how funds from the Mambilla project were funneled into multiple companies.
During his testimony, he revealed that funds intended for the power project were transferred into over 13 different companies using bureau de change operators, converting the money into foreign currencies and making suspicious transfers through banks.
However, the investigation, covering 2019 to 2023, traced the origins of the funds to a loan from China’s Exim Bank.
Kweido explained that his team uncovered fraudulent payments authorized by Mamman, directed to contractors using a joint venture of Tractebel, De-Crown Projects Ltd., and Sino Hydro Groups.
Further findings from letters sent to the Central Bank of Nigeria and the Office of the Accountant General of the Federation exposed additional transactions connected to the Mambilla and Zungeru Hydroelectric Power Plant Projects.
The EFCC’s investigation also identified 13 entities, including Prymint Investment Ltd, Silverline Ventures, and Intech Nigeria Ltd, among others, as recipients of these funds.
When key individuals like Maina Goje, Abdulahi Suleiman, and Abdulahi Garba were questioned, they denied applying for any contracts with the Federal Ministry of Power.
They admitted to acting as bureau de change operators but claimed to have only worked under instructions from an intermediary named Mustapha Abubakar Dida, who was identified as the project accountant for the power projects.
Dida’s involvement was corroborated by Mrs. Bawo Idris, a personal assistant to Mamman.
She disclosed to the EFCC that she disbursed funds based on instructions from the defendant, drawing from his personal accounts at First Bank and GTB.
Some of these payments went to Sammie Court Resource Ltd for the rent of Mamman’s personal apartment.
Other companies and individuals also received funds from the project account, including Vintage Nigeria Ltd, Fullest Utility Concept, and Golden Bond Nig Ltd.
The ongoing trial exposes significant gaps in financial accountability within the power sector, with further investigations expected to reveal more about the misuse of public funds.
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