ARREST GOHIL SOLICITOR OF ARLINGTON SHARMAS, WESTMINSTER, LONDON
GOHIL, SOLICITOR, spent Friday afternoon on the telephone to a legal draftsman, picking his brains about legal loopholes in UK company law. He used the telephone 0207-299-8999. He talked for one hour. Why have not the Metropolitan police used the new Statutory Instrument 2007 No. 2199, Electronic Communications, The Data Retention (EC Directive) Regulations in this very serious case of obscene money laundering to arrest Arlington Sharmas?
Documents paint a picture of how former Governor James Ibori of Delta State used international collaborators, offshore shell companies and local assistants to buy a Bombardier Challenger jet from Bombardier Aerospace Incorporated, Canada’s leading private jet manufacturing company.
A series of documents compiled by investigators on Ibori’s large-scale money laundering activities detailed shocking manoeuvres by the ex-governor in the purchase of the Bombardier jet. Going beyond the narrative of high wire corruption and money laundering schemes, the documents tell a story of a world of offshore havens to which Nigerian local resources were diverted by Ibori—and other political office holders.
This explains why the Nigerian nation is stripped of resources that should be invested in providing basic social needs for the populace.
For a period of eight years starting from May 29 1999 to May 2007, the 48-year old James Ibori was governor of Delta State. During this period—and in particular between 2005 and 2006—Ibori illegally transferred close to £20 million pounds out of Delta State to the United Kingdom.
The transfers were laundered through cronies, relatives and shell companies. The documents list Haleway Properties Limited, registered in Gibraltar, as one of Ibori’s front companies. However, another company known as Teleton Quays Limited, registered in the British Virgin Islands, was used to purchase the Challenger jet from Bombardier Incorporated. Mr. Gohil of Arlington Sharmas solicitors in London incorporated Telaton Quays, which also owns 42 Great Ground Street, Shaftsbury in Dorset (UK).
Mr. Gohil also incorporated another company, Erin Aviation Limited, in Mauritius. Erin Aviation received an assignment from Telaton Quays Limited to help in the purchase of the Bombadier jet.
The contract with Bombardier Incorporated was executed by way of a deed of assignment made on December 14 2006 between Telaton Quays Limited, Bombardier Inc. and Erin Aviation Limited.
Funds for the purchase of the $20 million Bombardier Challenger 604 jet were paid to the jet’s manufacturer through different shell companies around the globe. First, the sum of $4.7 million was transferred to Bombardier from a Mauritius-based Parabola International Corp through the solicitors’ firm of Arlington Sharmas in London.
The money from Parabola originated from an account opened and maintained by James Ibori in Switzerland in the name of a company known as “Stanhope.” Further funds were transferred to Sharmas solicitors in London from a Lagos-based aviation company, Wings Aviation Limited.
One Bhadresh Gohil, a partner at Arlington Sharmas solicitors of 6 Arlington Street, London SW1 was the central figure in the Bombardier Challenger jet transactions.
Mr. Gohil incorporated Telaton Quays and was the authorized signatory in the deal to purchase the Challenger jet. Mr Gohil, solicitor of Arlington Sharmas, London solicitors, coordinated the purchase of the Challenger jet with Mr. Nogie Meggison, the director of Wings Aviation of Nigeria.
Mr. Meggison, an air pilot, identified as a beneficial owner of Wings Aviation Limited, also provided $3 million through Mr. Gohil to Bombardier. In a due diligence letter to Bombadier Inc., Mr. Gohil described Mr. Meggision as a "well-known and respected" operator in the aviation industry. However, investigators discovered that Wings Aviation is actually owned by Stanhope and Parabola through another unnamed parent company directly controlled by Mr. James Ibori.

The documents also reveal that the Metropolitan Police in London commenced money-laundering investigations against James Ibori in 2005 with the assistance of the Economic and Financial Crimes Commission (EFCC) and other overseas countries that were not cited by name.
The documents accuse Ibori of actively diverting funds that have been allocated to education and citizen's welfare in Delta State for his personal use through United Kingdom banks.
The documents specifically named the former governor as well as his sister, Mrs. Ibori-Ibie, his personal assistant, Adebimpe Pogoson, and his long-time associate and mistress Udo Amaka Okoronkwo (nee Onuigbo) as active collaborators in the money-laundering scheme.

A cursory description of the three suspects gave an idea of how monies were transferred out of Delta State and later redistributed to several front companies and invested to Mr. Ibori’s sole advantage. With respect to Ibori-Ibie, the documents stated that she transferred funds on the instruction of Ibori in cash and bank drafts which were paid into bank accounts in Asaba, Delta State in amounts including £150,000, £80,000 and £70,000 during 2005. The funds were first transferred to a Lagos-based currency exchange company, Menkat, and then to the UK via a company called "Countrywide Paymasters.”

In addition, at Ibori’s instruction, Mrs. Okoronkwo in 2005 transferred funds out of Nigeria through banks in Asaba, the Delta State capital. The funds, in the amounts of £199,985, £149,985 and £199,985, were again transferred into Menkat and then into the UK banking system through Countrywide Paymasters. These funds were then transferred to James Ibori, Ibori-Ibie and Terry Waya who recently received a light sentence arising from a money laundering case at the Southwark Crown Court in London.
The British court systems still holds the sum of £500,000 recovered from Terry Waya and plans a confiscation hearing on his London property in November 2007.

In the case of Adebimpe Pogoson, the documents reveal that she transferred money out of Nigeria through banks in Asaba and Lagos. These monies were later transferred electronically into a UK sterling account held in the name of MER Engineering. Ex-Governor Ibori was a director of this company until he became the governor of Delta State. In 1999, Adebimpe Pogoson was the sole signatory to the account of MER Engineering in London. Funds were transferred electronically to Private Bank AG Geneva. The account in the bank is in the name of Stanhope Investments Ltd. Approximately £2 million was transferred from Nigeria into the account of MER Engineering during 2004/2005, and most transferred out of accounts controlled by James Ibori in Switzerland.

Ibori also used locally registered companies to transfer funds to his account overseas. A company named Wokson International Limited is believed to have benefited from contracts with Delta State government and to have transferred funds to overseas jurisdiction on behalf of Ibori. Two other companies, Sagicon Nigeria Limited and Onovin Nigeria, received funds from the Delta State Sports Ministry. Udo Amaka Okoronkwo is the sole director of Sagicon Nigeria Limited while Ibie Ibori is linked to Onovin Nigeria Limited.
In a letter dated March 2, 2006 and written to Mr. Martin Morrison and Company, a firm of Chartered Certified Accountants at 17 Depford Church Street, London SE 8 4RX, Ibie Ibori was identified as a procurement agent for Onovin Nigeria Limited.

Current Governor Emmanuel Uduaghan of Delta, who was a commissioner under Ibori, admitted in his statements to EFCC investigators that the sum of N38.9 million was paid to Ibie Ibori through the Asaba branch of United Bank of Africa (UBA) because she acted as a purchaser of "running tracks" for stadia in Delta State. Mr. Uduaghan stated specifically that on February 8th 2005, N38.8 million was paid directly into the account of Menkat Limited held with Countrywide Paymasters Limited. The money was deposited at the Asaba Branch of the UBA bank. The monies were transferred on February 9th 2005 to Barclays Bank in London with the help of a UBA account executive, Mr. Elumelu, who facilitated the transfers to Barclays Bank account number 10287717 with sort code 20-96-55 held by Ibie Ibori. Mr. Elumelu instructed Countrywide Paymasters to transfer £300,000 out of Menkat accounts. On the same date, another amount of £150,000 was transferred. Two further sums £80,000 and £70,000 was transferred on February 21 2005 to Ibie Ibori's account at Barclays bank.
Investigators believe that Ibori sought to use Telaton Quays/Erin Aviation Ltd to invest in the purchase of a Challenger aircraft currently located at Bombardier Incorporated, Montreal. The aircraft was built to order on the instructions of Mr Nogie Meggison of Wings Aviation. Our investigations indicate that the aircraft’s price tag is $20 million.
The initial deposit for the aircraft in the sum of $4,788,176.92 was paid from nominee accounts owned and controlled by Ibori. In June 2005, $4.7 million was received from Stanhope into the Kaingo account number 22065 (Parabola) held in Schroders, Zurich, and transferred to Arlington Sharmas Solicitors for onward transfer to Bombardier Inc.
Investigators strongly suspect that the funds made available to Bombardier Incorporated represent the proceeds of criminal activity in Nigeria.

Arlington Sharmas client account 'Wing Aviation Ltd Re: Challenger 300'- between June 05 and November, $8,005,245 was recorded as being transferred to Bombardier Inc as follows: June 2005: $599,963.98 from Wings Aviation Ltd; Sept 2005: $4,788,176.92 from Parabola; May 2006: $999,806.96 and $998, 635.72 from Erin Aviation Ltd; June 2006: $249,006.89 from Pamaron Oil and Gas Limited (Pamaron is stated by Mr Meggison as belonging to him)

ARLINGTON SHARMAS SOLICITORS- GOHIL SOLICITOR


BARELY two days after the British police arrested Mrs Theresa Nkoyo Ibori, wife of former Delta State Governor, Chief James Onanefe Ibori over alleged money laundering offences, fresh moves are on to confiscate the couple's cash and properties in the United Kingdom, worth over £40million. The Metropolitan Police are requesting for a restraint order of the court on its earlier directive defreezing the assets of the former governor. The former governor within a few years, dishonestly and corruptly obtained vast sums of money by means of his office and transferred a large portion of it to the United Kingdom in order to launder his alleged criminal property. The statement before the court against Ibori by the financial investigator on behalf of the Metropolitan Police also claimed that the former governor is the beneficial owner of the Haleway Properties Limited (Gibraltar) which has himself and the wife as Directors, while it owns the building structures situated at 7 Westover Hill, Hampstead in UK and valued at £4 million. Another property traceable to Ibori, according to the statement, is Teleton Quayes Ltd (British Virgin Islands), which is also the legal owner of 42, Great Ground Street, Shaftsbury, Dorset. It claimed that the same Teleton Quayes Limited handled “the original arrangement by Ibori, for the purchase of a Challenger jet from the said Bombadier Inc. of Canada. The same Teleton Quayes Limited is said to have purchased another property at 20, King Alfreds Meadow, Wincome Lane, Shaftesbury for Ibori. Other companies said to belong to Ibori include, Erin Aviation Limited (Mauritius) which was incorporated by Mr Gohil of Arlington Sharmas Solicitors; Stanhope Investments Limited (Niva, Polynesis) and the Julex Foundation (Panama), through which the former governor was said to have opened a Bank Account in Switzerland.
The company is said to be part of a joint venture investment for the purchase of the challenges Jet. Also included among Ibori's numerous properties are, M.E.R. Engineering Limited; Panabola International Limited (Mauritius) and Wings Aviation Limited (Nigeria) through which funds were allegedly transferred also through Arlingtons Sharmas Solicitors of London for the purchase of the Challenger 300 jet said to worth £20 million. The financial investigator stated that from his findings, he discovered among other things, that $4.7 million was also transferred from the account of Parabola International corp. through the solicitors Arlingtons Sharmas of London to Bombadier Inc for the purchase of the challenger 300 jet. He identified Mr. Bhadresh Gohill as a partner of Arlington Street, London SW1 and believed to be central to the purchase of the Challenger Jet for Ibori together with Mr. Meggison, a Director with Aviation Wings of Nigeria. In giving a summary of allegations of misappropriation of funds against Ibori, the financial investigator averred as follows:- * That a money laundering investigation commenced in 2005 into the affairs of the James Ibori, who was than the serving state governor of Delta State in Nigeria. It is alleged that he has used the United Kingdom to launder funds illegally in Nigeria. * That investigation has involved extensive inquiries both in Nigeria (with the assistance of the Economic and Financial Crimes Commission (EFCC) and other Oversea countries and the inspection and obtaining in the UK and abroad, of massive qualities of documentary material. *
That there are reasonable grounds to believe that James Ibori has been actively diverting funds that have been allocated to Delta State Nigeria for Education and Engineering projects. James Ibori, being a state Governor, was immune from prosecution in Nigeria for the term of his governorship; he has completed serving two terms as governor as of 29th May 2007, and therefore, the immunity provision have lapsed.
James Ibori now enjoys no immunity in either Nigeria or the UK for acts done whilst he was Governor.
The investigation has highlighted the fact that it is an offence in Nigeria to hold a foreign bank account.
It is a legal requirement for a serving state Governor taking office to declare any assets held to the Code of Conduct Commission in Nigeria.
The declaration submitted and signed by James Ibori stated that he has no cash or bank account outside Nigeria.
Investigations have demonstrated that this declaration is untrue. Enquires with the Mayfair Mercedes Benz dealership situated at 105, Wigmore Street, London, W1U 1OY have revealed that in May 2005, a Mercedes Benz vehicle VRM XC05 AAM was purchased for approximately 406,000 Euros (£275,873) for direct export. The vehicle was purchased for James Ibori, Flat 23, 20 Abbey Road, London, NW 89BJ. Payment for the vehicle was made by Stanhope Investments Ltd, with payment instructions via Plc B Private Bank AG, 12 Charles Galland, Geneva, Switzerland. This vehicle was armour plated and was subsequently transported to South Africa. Ibori completed the original documents for the vehicle purchase. On the instruction of James Ibori, his sister, Ibori-Ibie transferred funds out of Nigeria. Cash and drafts were paid into accounts within Asaba, Delta State Nigeria, in amounts including £150,000; £80,000 and £70,000 during 2005. Funds were then internally transferred into a Lagos-based currency exchange company (menkat) and then on into the UK, via a company called Countrywide Paymasters.Ltd.
The funds were used to purchase property in the UK. In addition, on the instructions of James Ibori, Okoronkwo transferred funds out of Nigeria. Cash and drafts were paid into accounts in Asaba, Delta State Nigeria during 2005. The following amounts: £199,985; £149,985 and £199,985, were internally transferred into a Lagos-based currency exchange company (Menkat) and from there into the UK via Countrywide Paymasters Ltd. Funds were then transferred to James Ibori, Ibori-Ibie and a further individual, Terry Waya, who is currently awaiting trial for money laundering. Some of the claims also deposed to by the affidavit in support of his statement included the alleged transfer of funds totalling $1,440,000 variously between May 4, 2004 and February 18, 2005. As regards investigations into Ibori's personality and realizable property, it was averred that born on August 4, 1958, he would have earned a modest £12,000 per annum, while serving as State Governor in Nigeria. It was also the investigator's claim that Ibori paid £2.3 million on the property known as 7, Westover Hill, London, HA3 DL2 title MX207021, which was registered in the name of Haleway Properties Limited of which both James Ibori and Theresa Ibori are the beneficial owners. Some of the vehicles traceable to James Ibori in London were identified simply as Bentley Continental GT registration LK54NFT, Chrysler registration number LN51FRT and Jaguar registration number W933VLP, apart from the Marybach McClaren registration number XC05 AAM based in South Africa.
In stating that criminal investigation was being undertaken with a view to beginning the potential prosecution of James Ibori in the UK, the affidavit deposed to against him contended that “the former governor has committed offences warranting a confiscation order pursuant a confiscation order pursuant to section 6 of the proceeds of Crime Act 2002.
Similarly, he added, “I believe that the defendant has a criminal lifestyle assumptions of section 10 of the Proceeds of crime Act 2002 and Schedule 2 of the Act namely Money laundering contrary to Section 328 proceeds of crime Act 2002. After admitting that the possible legitimate sources of income of James Ibori included the payments of £2.98m from Chevron oil and the Nigerian National Petroleum Corporation(NNPC) to M.E.R. Engineering as well as rental on 2 large houseboats (sleeping 70 persons), he had no reason to have transferred the monies to the UK for his own benefit since he seized to be a shareholder after taking office as a state Governor.
Gardiner therefore implored the court to grant his request for a restraint order against Ibori in respect of his properties in the UK namely:- 7 Westover Hill, London, NW37vit, Tille number NGL 624486. in the name of Haleway Properties Limited; Flat 23, 20 Abbey Road London, NW89BJ Title number NGL 699019 in the name of James Ibori and 42, Great Ground, Shaftsbury, Dorset, SP7. Title number DT 326978 in Dorset, SP7. Title number DT 326978 in the name of Teleton Quays Limited. The others include, Bentley Continental GT registration LK54NFT registration XC005 AAM I bid; Chrysler registration number LN51FRT, I bid; Jaguar registration number W933VLP I bid, Challenger 300 Aircraft, alternately any names proposed to be returned by Bombardier Inc. in respect of the termination of the proposed purchase. The others are, Barclays Bank Plc Account number 0011-5916 sort 20 47-42 in the name of James Ibori, Abbey National Instant Saver Account Number X105847511BC in the name of James Ibori Trustee for Miss Osaseri Ibie, all Accounts held by Stanhope Investments Limited at PKB Private Bank AG, Switzerland and all other assets held by or on behalf of Stanhope Investment Limited as well as all assets held by or on behalf of telethon Quays Limited. Meanwhile, no definite has been given for the hearing of the application for the seizure of James Ibori's properties, including cash in the UK.


YAR'ADUA PROTECTS THE BIG HEIST




The administration of President Umaru Yar'Adua, hiding under the veil of the rule of law that precludes thousands of underprivileged citizens in jail without trial, is continuing to protect the most brazen theft of public treasury, heisted by former Governor James Ibori of Delta State. Ibori spent a fortune to put Yar'Adua in power.
If all had worked according to plan, James Ibori, former governor of oil-rich Delta State, would have become one of the most powerful and influential men in Nigeria today.
Ibori had been under investigation for corruption by the Economic and Financial Crimes Commission, EFCC. For more than two years, the anti-corruption agency had investigated Ibori for allegedly looting Delta State treasury. Ibori and some members of his family and associates are currently being embraced by the long arms of the law not only in Nigeria but also in Britain and the United States, US.
Theresa his wife was arrested October 1, 2007 as she was waiting to board a plane to Nigeria. Her arrest was in connection with the Metropolitan Police’s money laundering investigations against Ibori. Already, three persons related to and used by Ibori in laundering money have been arrested in London and are currently under restraining orders. These are Adebimpe Pogoson, the ex–governor’s personal assistant, Christine Ibori–Ibie, his sister, and Udoamaka Okoronkwo, a female associate believed to have had a son for him. Theresa, a British citizen, was arrested by men of the Proceeds of Corruption Unit of the Metropolitan Police but was granted bail. However, she is expected to report to the police in London in January 2008 for further questioning.
The investigations into alleged corruption and money laundering against Ibori have been long drawn, involving security authorities in Nigeria, South Africa and Britain. A glimpse into the money laundering case against Ibori in London is provided in a witness’ statement supporting an application for a restraining order on Ibori’s investments and assets in Britain and other countries. Specifically, Ibori, who is being investigated for committing offences under the Proceeds of Crime Act under British law, allegedly criminally stole billions of naira when he was in government and laundered some of same in Britain “thereby committing offences under section 327 and 328 of the Proceeds of Crime Act 2002.”
To disguise the sources of the funds, Ibori, through a firm of attorneys in London, also created shell companies in Gibraltar, British Virgin Islands, Switzerland, Mauritius, Panama and other remote parts of the world, to which monies were paid so that they could be legitimised through purchase of properties and other assets. These companies include Haleway Properties Limited, registered in Gibraltar, Teleton Quays Limited (in British Virgin Islands), Erin Aviation Limited (Mauritius), Stanhope Investment Limited (Polynesia), Julex Foundation (Panama) and Parabola International Corp. (Mauritius).
On July 20, 2005, Okoronkwo issued a cheque of £311,000 to Arlington Sharmas Solicitors, which was used to purchase a house at 42, Great Ground, Shaftsbury, Dorset. The property was registered in the name of Teleton Quays but is used by Ibori and his wife.
It was discovered that Ibori had instructed Bhadresh Gohil, a partner in Arlington Sharmas, who was central to the incorporation of front companies and legitimising laundered funds for the ex-governor, to register Teleton Quays and purchase the property in the company’s name. Okoronkwo is also known to have purchased another house in London at a cost of £388,077.62 for Ibori in the name of Boyd Properties. In all, over £2 million have passed through Okoronkwo’s HSBC account, most of it paid directly into a London Barclays account number 00115916 in the name of James Ibori.
For the role they played in laundering money for Ibori, the trio of Pogoson, Ibori-Ibie and Okoronkwo are currently subject to restraint proceedings in London and, if found guilty of money laundering charges, face jail sentences of many years.
Ibori got Gohil to register companies to use for the transaction and to make payments for the jet. Shemutete is a known international expert in money laundering and legitimising corruptly gotten funds. He is currently under investigation in Zambia, his home country, for allegedly helping former President Frederick Chiluba launder money abroad.
Investigators say that Shemutete was most likely fronting for Ibori as Gohil, the same man who acted for the ex–governor in many other businesses, introduced him to the bank. On September 29, 2005, the money was transferred from the Parabola account into a Barclays Bank, London account, which turned out to be a client’s account held by Gohil’s law firm, Arlington Sharmas. The firm later made the payment to Bombardier.
However, there were more intriguing disclosures from the examination of the Teleton/Bombardier deal. By July 2006, a total of $9,856,685.22 had been paid for the jet. A breakdown of the payment shows that apart from the $4.788 million paid by Stanhope/Parabola, Bombardier also received $599,963.98 from Wings Aviation Limited; $899,805.96 from Erin Aviation; $249,007.72 from Pamaron Oil and Gas Limited; another $899,896.68 from Wings Aviation and a last tranch of $951,178.07 from Erin Aviation. The entry of Wings Aviation makes the jet purchase more intriguing. Wings Aviation is registered in Nigeria as a charter services provider.
Interestingly, investigators found out through a letter written by Gohil that Stanhope Investment and Parabola International Corp, both believed to be owned by Ibori, were principal shareholders in Aviation Development Corporation, the parent company of Wings Aviation. The investigators in London have inferred that Ibori, through his offshore companies, owns Wings Aviation and that he provided the monies paid by the company for the Bombardier jet. The investigators equally believe that the agreement between Erin Aviation and Bombardier is to be terminated and the purchase price of $20 million returned. The investigators have moved to place a restraining order on the jet or monies returned by the manufacturers and are asking for a restraining order on houses, cars and accounts believed to be held by Ibori or his proxies.
These include three houses in London and Dorset, four vintage cars (a Bentley Continental GT, Mercedes MayBach, a Chrysler and a Jaguar) as well as several accounts held in his name and those of his front companies such as Stanhope Investments and Teleton Quays.
The London money laundering investigations on Ibori tell only one side of the story of this young man’s mindless looting of the funds kept in his trust when he was governor of Delta State. The investigations actually derived from investigations in Nigeria on Ibori spanning over two years by the EFCC. Although the EFCC had kept its investigations close to its chest, it was forced to come out with its findings after the Delta State government took the commission to court to restrain it, among other things, from arresting or prosecuting Ibori. In an affidavit deposed by Yahaya Bello, the head of the team that investigated the Ibori case, the EFCC finally opened an assortment of problems on the ex–governor’s looting ways. Many of the EFCC findings better explain some of the missing links in the British authorities’ investigations. The EFCC investigations uncovered several questionable payments to companies,
Associates and aides of Ibori, running into billions of naira. For example, it was discovered that there were monthly lodgements of Delta State cheques of between five and seven million naira into the accounts of Onovin Nigeria Limited. Vincent Uduaghan, owner of the company, told investigators that the payments, which totalled N350 million in five years, were for the supply of fuel from Total Nigeria Limited in Benin, Edo State. However, Total, which did have a fuel supply contract, denied having any dealings with Onovin Nigeria Limited.
Furthermore, it was discovered that lodgements of up to N400 million were made from state accounts into the accounts of Ede Ogoro, private secretary to Ibori, and Charles Isiayei, chief accountant to Delta State Government House. It was also revealed that these two men also made several cash lodgements running into billions of naira from “security votes” of the state into the accounts of companies controlled by or connected with Ibori. These include Koln Nigeria Limited, Silhouette Travels, Prime Chambers, MER Engineering Limited and Bainenox.
Another interesting discovery was that part of the money paid from Nigeria for the purchase of the Challenger jet was one million dollars by Pamaron Oil and Gas through Fidelity Bank.
The EFCC investigations also showed how Ibori bought into several companies in Nigeria, including recently privatised state ones using proxies to disguise the source of funds. For example, O-Secul Nigeria Limited owned by Mike Orugbo for $152 million acquired the National Fertiliser Company, NAFCON, in 2005. Orugbo was able to raise only $2 million but, curiously, the company was able to raise the balance from Oceanic Bank with which it had no prior relationship. The bank later received a total of $46 million to acquire 39 per cent of NAFCON from Copex Management Service, the same company that paid money to Arlington Sharmas on behalf of Erin Aviation for the purchase of the Bombardier jet. This time, Copex paid the money on behalf of Nortore Mauritius. This company has been found to belong to a group of foreign investors two of who were brought into the deal by Arlington Sharmas, Ibori’s UK solicitor friend.
Oceanic Bank received a further N4.418 billion from Brisbane Limited, owned by Henry Imasekha, a known friend and associate of Ibori, for 13 per cent of the fertiliser company. Probes into the money paid by Brisbane only opened a new vista of Ibori’s thievery. It was discovered that, in 2001, Imasekha had secured a N2.2 billion loan from New Nigeria Bank to buy 10 per cent shares in Econet Nigeria Limited. There was no evidence that he had a relationship with the bank. Curiously, a few weeks later, the Delta State government bought off five per cent of Imasekha’s shares for N2.5 billion. This money was used by the businessman to pay off the bank loan. However, he still had N300 million as well as five per cent of Econet shares. The money used in paying for Brisbane’s 13 per cent shares in NAFCON came from the proceeds of the sale of Imasekha’s remaining shares in Econet.
Imasekha is believed to be a front for Ibori. The EFCC also alleged that Ibori used several companies to divert N5 billion from Delta State coffers into the purchase of shares from Afribank. The commission claims that the entire money had been recovered and returned to the state government. Ibori is also alleged to have similarly invested in high net worth portfolios, including Wilbros Nigeria Limited, among others.
The accusations against Ibori are, indeed, grave. They constitute the most brazen and monumental case of looting by any former state chief executive. In addition, there is not one of these allegations that the ex-governor is unaware of. There is proof obtained from some of his arrested associates that he has actually made efforts to suppress potentially incriminating evidence. Beyond this, Ibori has also played a game of survival by using his understanding of the nation’s political system to escape the law. Many believe he has an ally in Michael Aondoakaa, the attorney-general and minister of justice. Aondoakaa’s attitude towards the fight against corruption is, perhaps, better understood against the background of his having crossed the path of the commission in the past. As one of the counsel to the Benue State government in its action against the EFCC, the state government was asking the court to declare the commission an illegal body and that it had no right to investigate corruption cases against any official of the state. That case was recently decided in favour of the EFCC. Ibori’s first strategy was to buy time from prosecution by orchestrating the removal of Ribadu.
The magazine learnt that as soon as Yar A’dua came into office, Ibori and others recruited by him put pressure on the President to remove the EFCC boss. Their story was that Ribadu had thoroughly messed up and lost respect among Nigerians for allowing former President Olusegun Obasanjo to use him for political battles. If he is to be taken seriously about fighting corruption, then Ribadu would have to go, the President was told.
Having failed in this mission, Ibori and others who were afraid of Ribadu reportedly banded with Aondoakaa whom they knew had a grouse against the EFCC and its helmsman. To incapacitate the commission, a plot was hatched to remove its prosecutorial powers. Aondoakaa briefed Yar’Adua and soon presented a formal letter requesting to direct all prosecutions by the EFCC, Independent Corrupt Practices and Other Related Offences Commission, ICPC, and the Code of Conduct Bureau, CCB.
It was curious that the attorney-general was interested in only these three agencies connected with the prosecution of corrupt governors. However, the fallacy of his action was soon exposed when the President reportedly got superior legal advice from respected legal icons. Aondoakaa was forced by a thoroughly embarrassed President to reverse a decision he had announced to the whole world.
But Aondoakaa has not stopped acting on behalf of the same people that his office should be willing to prosecute if there is a case against them. The attorney-general forcefully took over the prosecution of the EFCC’s case against Orji Kalu, former governor of Abia State, based on a purported restraining order on the EFCC. However, Femi Falana, a Lagos-based lawyer, speaking to TELL in Lagos last week, said there was no such court order.
Aondoakaa has also incurred the wrath of many Nigerians, particularly lawyers, for attempting to extricate Ibori from the restraint proceedings in a London court. The Southwark Crown Court in London had on August 2, 2007 frozen Ibori’s assets around the world estimated at about $35 million. However, the freeze order was lifted on October 2, 2007 after Speechly Bircham, Ibori’s lawyer, presented to the court a letter written by Aondoakaa stating that the former governor was under no investigation in Nigeria. It was gathered that Bircham had written to the attorney-general to inquire if Ibori was under investigation. Without reference to the EFCC, ICPC, CCB or any other investigating agency in the country, Aondoakaa wrote back to the lawyer saying Ibori was not under any investigation. Significantly, as pointed out by a lawyer, Aondoakaa also said in his letter that as attorney-general, he had not requested for assistance in investigating Ibori as required under the mutual legal assistance programme between Nigeria and Britain. This, more than any other factor let Ibori off the hook. However, that victory was only temporary for the former governor, as another court has reinstated the freeze order on his assets. Aondoakaa was said to have initially denied writing any letter to Ibori’s lawyer until the controversial letter was published on the Internet.
Perhaps, embarrassed by the seeming tardiness with which his government has prosecuting the war against corruption, President Yar’Adua directed the attorney-general to cooperate with the British investigating authority. Again, curiously, at a lawyers’ conference in Singapore, he announced the setting up of a special anti-corruption unit in his office.
In a related development, Aondoakaa, the magazine learnt, has also been putting pressure on the CCB to withdraw from his office about 18 case files submitted in relation to corruption cases against former governors. Many Nigerians have blamed President Yar’Adua for attempting to protect Ibori and other former governors from prosecution. However, the President’s attitude to his former colleagues is said to be that he did not tell anybody to steal state funds to fund his campaign and that, in any case, he personally received no money from any of them; so there are no entanglements for him. Even sources in the anti-corruption agencies confirm that the President has never interfered with their investigations of the former state chief executives. What has happened, it is said, is that some people have exploited the President’s natural disposition to do things by the book — to follow due process — to sell the new mantra of “rule of law” to him in order to slow down the momentum of the anti-corruption campaign.



Theresa, a British citizen, was arrested by men of the Proceeds of Corruption Unit of the Metropolitan Police but was granted bail. However, she is expected to report to the police in London in January 2008 for further questioning.
The investigations into alleged corruption and money laundering against Ibori have been long drawn, involving security authorities in Nigeria, South Africa and Britain. Ibori devised a simple method to launder the money he allegedly stole from Delta State coffers. For example, during his eight-year rule, cash and drafts worth about £2 million were paid to Pogoson from Delta State accounts. Money was paid into her account in Asaba and Lagos, from where it was electronically transferred into the United Kingdom, UK, accounts of MER Engineering, a company owned by the former governor. Ibori was a director in the company before he became governor. However, since 1999, Pogoson has been the sole signatory to the company’s accounts. From MER’s UK account, nearly $1.5 million was then electronically transferred into the account of a front company for the ex-governor, Stanhope Investment, held at Private Bank AG Geneva and other accounts held by him in Switzerland. Police forensic investigators from London discovered that because of the law in Nigeria which barred him from having foreign accounts, Ibori opened the account in the name of Stanhope in Switzerland, and through it, he paid for the purchase of an armour-plated Mercedes MayBach in April 2005. He is known to have several such foreign accounts. Ibori coughed out €406,600 and had the vintage car shipped to his home in South Africa. It was also from this account that the ex–governor paid the initial deposit of $4.7 million for the purchase of a Bombardier Challenger jet, total cost of which is put at $20 million. He transferred the money in June 2005 to the account of Parabola International Corp held in Zurich. The money was then transferred into the accounts of Arlington Shamas, Solicitor, London, Ibori’s representatives, for onward transfer to the aircraft manufacturers.
Pogoson, who resides in London in a house owned by Ibori’s sister, was arrested in April 2006 for money laundering charges but was released. She was further interrogated February this year, accused of holding many accounts in Nigeria with which she helped her boss launder money.
In the same dubious manner, Ibori, in the guise of awarding contracts to some companies, used his sister and Okoronkwo to loot Delta State funds and launder it abroad. Court documents in London and Nigeria show that in February 2005, acting as a purchasing representative to Onovin Nigeria Limited, a Nigerian company owned by Vincent Uduaghan, younger brother to Emmanuel Uduaghan, current governor of Delta State, Ibori–Ibie, the ex–governor’s sister, received over N38 million ostensibly for the procurement of running tracks for stadia in the state from a German firm. A total of £300,000 meant for the purchase of the tracks was transferred into Ibori-Ibie’s account with Barclays Bank, London. However, an inspection of her Barclays account showed that only a total of £123,717.72 was paid to BSW, the German suppliers. The shortfall of £176,182.26 is believed to have been laundered for the former governor.
In the case of Okoronkwo, between May 26, 2005 and June 8, 2005, she received about N105.5 million of Delta State government funds. The monies were then transferred into her HSBC account in London in three tranches — £200,000 on June I, 2005, £150,000 on June 14, 2005 and £200,000 on June 20, 2005. An inspection of the account showed that some of the monies were transferred to Ibori and Terry Waya, a Nigerian businessman currently serving a jail term in Britain for money laundering, while there is also evidence that properties and other assets had been bought for Ibori from funds in Okoronkwo’s HSBC account. For example, on July 20, 2005, Okoronkwo issued a cheque of £311,000 to Arlington Sharmas Solicitors, which was used to purchase a house at 42, Great Ground, Shaftsbury, Dorset. The property was registered in the name of Teleton Quays but is used by Ibori and his wife.
It was discovered that Ibori had instructed Bhadresh Gohil, a partner in Arlington Sharmas, who was central to the incorporation of front companies and legitimising laundered funds for the ex-governor, to register Teleton Quays and purchase the property in the company’s name. Okoronkwo is also known to have purchased another house in London at a cost of £388,077.62 for Ibori in the name of Boyd Properties. In all, over £2 million have passed through Okoronkwo’s HSBC account, most of it paid directly into a London Barclays account number 00115916 in the name of James Ibori.
For the role they played in laundering money for Ibori, the trio of Pogoson, Ibori-Ibie and Okoronkwo are currently subject to restraint proceedings in London and, if found guilty of money laundering charges, face jail sentences of many years.
Yet, the British investigations have revealed even more startling discoveries. Ibori, in late 2005, hatched a plot to legitimise some of his allegedly stolen and laundered money through the purchase of a Challenger jet from Bombardier. Since he knew that he could not directly send money to the aircraft manufacturers, as that would have immediately raised questions in many quarters, Ibori got Gohil to register companies to use for the transaction and to make payments for the jet. In December 2005, Gohil, on behalf of Ibori, brokered a purchase deal for the Challenger at the cost of $20 million between Teleton Quays and Bombardier. Gohil also incorporated another company, Erin Aviation, in Mauritius, which later took over as the buyer from Teleton Quays. In July 2005, four payments totalling £4,788,176.92 were made from Ibori’s account held in the name of Stanhope into a Schrader Bank, Zurich account in the name of Edward Shemutete for Parabola International Corp. Shemutete is a known international expert in money laundering and legitimising corruptly gotten funds. He is currently under investigation in Zambia, his home country, for allegedly helping former President Frederick Chiluba launder money abroad.
Investigators say that Shemutete was most likely fronting for Ibori as he was introduced to the bank by Gohil, the same man who acted for the ex–governor in many other businesses. On September 29, 2005, the money was transferred from the Parabola account into a Barclays Bank, London account, which turned out to be a client’s account held by Gohil’s law firm, Arlington Shamas. The firm later made the payment to Bombardier.
However, there were more intriguing disclosures from the examination of the Teleton/Bombardier deal. By July 2006, a total of $9,856,685.22 had been paid for the jet. A breakdown of the payment shows that apart from the $4.788 million paid by Stanhope/Parabola, Bombardier also received $599,963.98 from Wings Aviation Limited; $899,805.96 from Erin Aviation; $249,007.72 from Pamaron Oil and Gas Limited; another $899,896.68 from Wings Aviation and a last tranch of $951,178.07 from Erin Aviation. The entry of Wings Aviation makes the jet purchase more intriguing. Wings Aviation is registered in Nigeria as a charter services provider.
Interestingly, investigators found out through a letter written by Gohil that Stanhope Investment and Parabola International Corp, both believed to be owned by Ibori, were principal shareholders in Aviation Development Corporation, the parent company of Wings Aviation. The investigators in London have inferred that Ibori, through his offshore companies, owns Wings Aviation and that he provided the monies paid by the company for the Bombardier jet. The investigators equally believe that the agreement between Erin Aviation and Bombardier is to be terminated and the purchase price of $20 million returned. The investigators have moved to place a restraining order on the jet or monies returned by the manufacturers and are asking for a restraining order on houses, cars and accounts believed to be held by Ibori or his proxies.
These include three houses in London and Dorset, four vintage cars (a Bentley Continental GT, Mercedes MayBach, a Chrysler and a Jaguar) as well as several accounts held in his name and those of his front companies such as Stanhope Investments and Teleton Quays.
The London money laundering investigations on Ibori tell only one side of the story of this young man’s mindless looting of the funds kept in his trust when he was governor of Delta State. The investigations actually derived from investigations in Nigeria on Ibori spanning over two years by the EFCC. Although the EFCC had kept its investigations close to its chest, it was forced to come out with its findings after the Delta State government took the commission to court to restrain it, among other things, from arresting or prosecuting Ibori. In an affidavit deposed by Yahaya Bello, the head of the team that investigated the Ibori case, the EFCC finally opened an assortment of problems on the ex–governor’s looting ways. Many of the EFCC findings better explain some of the missing links in the British authorities’ investigations. The EFCC investigations uncovered several questionable payments to companies, associates and aides of Ibori, running into billions of naira. For example, it was discovered that there were monthly lodgements of Delta State cheques of between five and seven million naira into the accounts of Onovin Nigeria Limited. Vincent Uduaghan, owner of the company, told investigators that the payments, which totalled N350 million in five years, were for the supply of fuel from Total Nigeria Limited in Benin, Edo State. However, Total, which did have a fuel supply contract, denied having any dealings with Onovin Nigeria Limited.
Furthermore, it was discovered that lodgements of up to N400 million were made from state accounts into the accounts of Ede Ogoro, private secretary to Ibori, and Charles Isiayei, chief accountant to Delta State Government House. It was also revealed that these two men also made several cash lodgements running into billions of naira from “security votes” of the state into the accounts of companies controlled by or connected with Ibori. These include Koln Nigeria Limited, Silhouette Travels, Prime Chambers, MER Engineering Limited and Bainenox.
Another interesting discovery was that part of the money paid from Nigeria for the purchase of the Challenger jet was one million dollars by Pamaron Oil and Gas through Fidelity Bank.
The EFCC investigations also showed how Ibori bought into several companies in Nigeria, including recently privatised state ones using proxies to disguise the source of funds. For example, the National Fertiliser Company, NAFCON, was acquired in 2005 by O-Secul Nigeria Limited owned by Mike Orugbo for $152 million. Orugbo was able to raise only $2 million but, curiously, the company was able to raise the balance from Oceanic Bank with which it had no prior relationship. The bank later received a total of $46 million to acquire 39 per cent of NAFCON from Copex Management Service, the same company that paid money to Arlington Sharmas on behalf of Erin Aviation for the purchase of the Bombardier jet. This time, Copex paid the money on behalf of Nortore Mauritius. This company has been found to belong to a group of foreign investors two of who were brought into the deal by Arlington Sharmas, Ibori’s UK solicitor friend.
Oceanic Bank received a further N4.418 billion from Brisbane Limited, owned by Henry Imasekha, a known friend and associate of Ibori, for 13 per cent of the fertiliser company. Probes into the money paid by Brisbane only opened a new vista of Ibori’s thievery. It was discovered that, in 2001, Imasekha had secured a N2.2 billion loan from New Nigeria Bank to buy 10 per cent shares in Econet Nigeria Limited. There was no evidence that he had a relationship with the bank. Curiously, a few weeks later, the Delta State government bought off five per cent of Imasekha’s shares for N2.5 billion. The businessperson to pay off the bank loan used this money. However, he still had N300 million as well as five per cent of Econet shares. The money used in paying for Brisbane’s 13 per cent shares in NAFCON came from the proceeds of the sale of Imasekha’s remaining shares in Econet.
Imasekha is believed to be a front for Ibori. The EFCC also alleged that Ibori used several companies to divert N5 billion from Delta State coffers into the purchase of shares from Afribank. The commission claims that the entire money had been recovered and returned to the state government. Ibori is also alleged to have similarly invested in high net worth portfolios, including Wilbros Nigeria Limited, among others.
The accusations against Ibori are, indeed, grave. They constitute the most brazen and monumental case of looting by any former state chief executive. In addition, there is not one of these allegations that the ex-governor is unaware of. There is proof obtained from some of his arrested associates that he has actually made efforts to suppress potentially incriminating evidence. Beyond this, Ibori has also played a game of survival by using his understanding of the nation’s political system to escape the law. Many believe he has an ally in Michael Aondoakaa, the attorney-general and minister of justice. Aondoakaa’s attitude towards the fight against corruption is, perhaps, better understood against the background of his having crossed the path of the commission in the past. As one of the counsel to the Benue State government in its action against the EFCC, the state government was asking the court to declare the commission an illegal body and that it had no right to investigate corruption cases against any official of the state. That case was recently decided in favour of the EFCC. Ibori’s first strategy was to buy time from prosecution by orchestrating the removal of Ribadu.
The magazine learnt that as soon as Yar A’dua came into office, Ibori and others recruited by him put pressure on the President to remove the EFCC boss. Their story was that Ribadu had thoroughly messed up and lost respect among Nigerians for allowing former President Olusegun Obasanjo to use him for political battles. If he is to be taken seriously about fighting corruption, then Ribadu would have to go, the President was told.
Having failed in this mission, Ibori and others who were afraid of Ribadu reportedly banded with Aondoakaa whom they knew had a grouse against the EFCC and its helmsman. To incapacitate the commission, a plot was hatched to remove its prosecutorial powers. Aondoakaa briefed Yar’Adua and soon presented a formal letter requesting to direct all prosecutions by the EFCC, Independent Corrupt Practices and Other Related Offences Commission, ICPC, and the Code of Conduct Bureau, CCB.
It was curious that the attorney-general was interested in only these three agencies connected with the prosecution of corrupt governors. However, the fallacy of his action was soon exposed when the President reportedly got superior legal advice from respected legal icons. Aondoakaa was forced by a thoroughly embarrassed President to reverse a decision he had announced to the whole world.
But Aondoakaa has not stopped acting on behalf of the same people that his office should be willing to prosecute if there is a case against them. The attorney-general forcefully took over the prosecution of the EFCC’s case against Orji Kalu, former governor of Abia State, based on a purported restraining order on the EFCC. However, Femi Falana, a Lagos-based lawyer, speaking to TELL in Lagos last week, said there was no such court order. Aondoakaa has also incurred the wrath of many Nigerians, particularly lawyers, for attempting to extricate Ibori from the restraint proceedings in a London court. The Southwark Crown Court in London had on August 2, 2007 frozen Ibori’s assets around the world estimated at about $35 million. However, the freeze order was lifted on October 2, 2007 after Speechly Bircham, Ibori’s lawyer, presented to the court a letter written by Aondoakaa stating that the former governor was under no investigation in Nigeria. It was gathered that Bircham had written to the attorney-general to inquire if Ibori was under investigation. Without reference to the EFCC, ICPC, CCB or any other investigating agency in the country, Aondoakaa wrote back to the lawyer saying Ibori was not under any investigation. Significantly, as pointed out by a lawyer, Aondoakaa also said in his letter that as attorney-general, he had not requested for assistance in investigating Ibori as required under the mutual legal assistance programme between Nigeria and Britain. This, more than any other factor let Ibori off the hook. However, that victory was only temporary for the former governor, as another court has reinstated the freeze order on his assets. Aondoakaa was said to have initially denied writing any letter to Ibori’s lawyer until the controversial letter was published on the Internet.
Perhaps, embarrassed by the seeming tardiness with which his government has prosecuting the war against corruption, President Yar’Adua directed the attorney-general to cooperate with the British investigating authority. Again, curiously, at a lawyers’ conference in Singapore, he announced the setting up of a special anti-corruption unit in his office.
In a related development, Aondoakaa, the magazine learnt, has also been putting pressure on the CCB to withdraw from his office about 18 case files submitted in relation to corruption cases against former governors. Many Nigerians have blamed President Yar’Adua for attempting to protect Ibori and other former governors from prosecution. However, the President’s attitude to his former colleagues is said to be that he did not tell anybody to steal state funds to fund his campaign and that, in any case, he personally received no money from any of them; so there are no entanglements for him. Even sources in the anti-corruption agencies confirm that the President has never interfered with their investigations of the former state chief executives. What has happened, it is said, is that some people have exploited the President’s natural disposition to do things by the book — to follow due process — to sell the new mantra of “rule of law” to him in order to slow down the momentum of the anti-corruption campaign.
As it is now, none of these strategies has worked for Ibori who is now on the run from the law in Britain and America. Soon, with the setting aside of the restraining order on the EFCC to do its job, Ibori’s days as a free man may be numbered.





If all had worked according to plan, James Ibori, former governor of oil-rich Delta State, would have become one of the most powerful and influential men in Nigeria today. Having generously oiled the wheels of the presidential campaign machinery of Umaru Yar’Adua, Ibori saw himself as a kingmaker who should call some shots in the new government. The former governor, it was gathered, demanded to be made minister in the lucrative petroleum resources ministry. He is also believed, at one point, to have considered being minister of the strategic federal capital territory ministry. However, apart from the need to be paid back for his substantial investment in the President’s campaign, Ibori’s desire to be a powerful member of the new administration was also for the simple but strategic reason of self-preservation.

The handsome and fabulously wealthy ex-governor knew that he had been under investigation for corruption by the Economic and Financial Crimes Commission, EFCC. For more than two years, the anti-corruption agency had investigated Ibori for allegedly looting Delta State treasury. Becoming a powerful minister in the government would have, at least for some time, secured his freedom from prosecution. So Ibori thought.

However, immediately he learnt of moves by the former governor to become a minister, Nuhu Ribadu, EFCC chair, put paid to the scheme by placing before President Yar’Adua evidence of Ibori’s monumental looting of his state’s treasury.

Today, Ibori is neither a minister nor is he anywhere near the corridors of power. Rather, he is virtually a fugitive from the law. Ibori and some members of his family and associates are currently being embraced by the long arms of the law not only in Nigeria but also in Britain and the United States, US.

At the time when the EFCC began the clampdown on former governors, Ibori found it convenient to flee to the US. Ordinarily, Britain, where he has investments, houses, luxury cars and a fat bank accounts, would have been the natural place to go. However, he would most likely have been arrested in that country as the London Metropolitan Police has a strong case of money laundering against him. However, even America, his initial place of succour, has become too hot for him to stay. The magazine has learned that he had to quickly take off from the US and return to Nigeria a few weeks ago after he got wind of the fact that authorities in Florida had also commenced investigations on him in a money laundering case.

As Ibori made his way back home, he was believed to have instructed Theresa, his wife, and former first lady of Delta State, to also return home from Britain where she was staying. However, Theresa was arrested October 1, 2007 as she was waiting to board a plane to Nigeria. Her arrest was in connection with the Metropolitan Police’s money laundering investigations against Ibori. Already, three persons related to and used by Ibori in laundering money have been arrested in London and are currently under restraining orders. These are Adebimpe Pogoson, the ex–governor’s personal assistant, Christine Ibori–Ibie, his sister, and Udoamaka Okoronkwo, a female associate believed to have had a son for him. Theresa, a British citizen, was arrested by men of the Proceeds of Corruption Unit of the Metropolitan Police but was granted bail. However, she is expected to report to the police in London in January 2008 for further questioning.

The investigations into alleged corruption and money laundering against Ibori have been long drawn, involving security authorities in Nigeria, South Africa and Britain. In addition, the magazine’s own investigations have revealed that the Metropolitan Police has virtually concluded its probe of the former governor. It not only has a watertight case against him, but also is in a position to arrest and prosecute him.

A glimpse into the money laundering case against Ibori in London is provided in a witness’ statement supporting an application for a restraining order on Ibori’s investments and assets in Britain and other countries. Written by Paul Gardiner, a financial investigator employed by the Metropolitan Police to unravel the web of the ex–governor’s money laundering schemes, the statement, which was actually presented to the Southwark Crown Court in order to obtain a restraining order on Ibori’s assets, reveals not only persons and companies used by Ibori to launder monies amounting to over N35 billion, but also the circuitous route that the funds were made to pass through to disguise their sources.

Specifically, Ibori, who is being investigated for committing offences under the Proceeds of Crime Act under British law, allegedly criminally stole billions of naira when he was in government and laundered some of same in Britain “thereby committing offences under section 327 and 328 of the Proceeds of Crime Act 2002.”

Operating like an international crook versed in the art of money laundering, and using the likes of Pogoson, Okoronkwo, Ibori-Ibie and a host of other associates as well as offshore companies and fronts, the former governor allegedly stole funds through the award of often bogus or often inflated contracts, paid monies into the accounts of these people who then transferred the funds into designated accounts abroad. Following a circuitous route, many of the monies were then routed to accounts and companies owned or controlled by Ibori. To disguise the sources of the funds, Ibori, through a firm of attorneys in London, also created shell companies in Gibraltar, British Virgin Islands, Switzerland, Mauritius, Panama and other remote parts of the world, to which monies were paid so that they could be legitimised through purchase of properties and other assets. These companies include Haleway Properties Limited, registered in Gibraltar, Teleton Quays Limited (in British Virgin Islands), Erin Aviation Limited (Mauritius), Stanhope Investment Limited (Polynesia), Julex Foundation (Panama) and Parabola International Corp. (Mauritius).

Documents at the Southwark Crown Court, London, showed that Ibori devised a simple method to launder the money he allegedly stole from Delta State coffers. For example, during his eight-year rule, cash and drafts worth about £2 million were paid to Pogoson from Delta State accounts. Money was paid into her account in Asaba and Lagos, from where it was electronically transferred into the United Kingdom, UK, accounts of MER Engineering, a company owned by the former governor. Ibori was a director in the company before he became governor. However, since 1999, Pogoson has been the sole signatory to the company’s accounts. From MER’s UK account, nearly $1.5 million was then electronically transferred into the account of a front company for the ex-governor, Stanhope Investment, held at Private Bank AG Geneva and other accounts held by him in Switzerland. Police forensic investigators from London discovered that because of the law in Nigeria which barred him from having foreign accounts, Ibori opened the account in the name of Stanhope in Switzerland, and through it, he paid for the purchase of an armour-plated Mercedes MayBach in April 2005. He is known to have several such foreign accounts. Ibori coughed out €406,600 and had the vintage car shipped to his home in South Africa. It was also from this account that the ex–governor paid the initial deposit of $4.7 million for the purchase of a Bombardier Challenger jet, total cost of which is put at $20 million. He transferred the money in June 2005 to the account of Parabola International Corp held in Zurich. The money was then transferred into the accounts of Arlington Shamas, Solicitor, London, Ibori’s representatives, for onward transfer to the aircraft manufacturers.

Pogoson, who resides in London in a house owned by Ibori’s sister, was arrested in April 2006 for money laundering charges but was released. She was further interrogated February this year, accused of holding many accounts in Nigeria with which she helped her boss launder money.

In the same dubious manner, Ibori, in the guise of awarding contracts to some companies, used his sister and Okoronkwo to loot Delta State funds and launder it abroad. Court documents in London and Nigeria show that in February 2005, acting as a purchasing representative to Onovin Nigeria Limited, a Nigerian company owned by Vincent Uduaghan, younger brother to Emmanuel Uduaghan, current governor of Delta State, Ibori–Ibie, the ex–governor’s sister, received over N38 million ostensibly for the procurement of running tracks for stadia in the state from a German firm. A total of £300,000 meant for the purchase of the tracks was transferred into Ibori-Ibie’s account with Barclays Bank, London. However, an inspection of her Barclays account showed that only a total of £123,717.72 was paid to BSW, the German suppliers. The shortfall of £176,182.26 is believed to have been laundered for the former governor.

In the case of Okoronkwo, between May 26, 2005 and June 8, 2005, she received about N105.5 million of Delta State government funds. The monies were then transferred into her HSBC account in London in three tranches — £200,000 on June I, 2005, £150,000 on June 14, 2005 and £200,000 on June 20, 2005. An inspection of the account showed that some of the monies were transferred to Ibori and Terry Waya, a Nigerian businessperson currently serving a jail term in Britain for money laundering, while there is also evidence that properties and other assets had been bought for Ibori from funds in Okoronkwo’s HSBC account. For example, on July 20, 2005, Okoronkwo issued a cheque of £311,000 to Arlington Sharmas Solicitors, which was used to purchase a house at 42, Great Ground, Shaftsbury, Dorset. The property was registered in the name of Teleton Quays but is used by Ibori and his wife.

It was discovered that Ibori had instructed Bhadresh Gohil, a partner in Arlington Sharmas, who was central to the incorporation of front companies and legitimising laundered funds for the ex-governor, to register Teleton Quays and purchase the property in the company’s name. Okoronkwo is also known to have purchased another house in London at a cost of £388,077.62 for Ibori in the name of Boyd Properties. In all, over £2 million have passed through Okoronkwo’s HSBC account, most of it paid directly into a London Barclays account number 00115916 in the name of James Ibori.

For the role they played in laundering money for Ibori, the trio of Pogoson, Ibori-Ibie and Okoronkwo are currently subject to restraint proceedings in London and, if found guilty of money laundering charges, face jail sentences of many years.

Yet, the British investigations have revealed even more startling discoveries. Ibori, in late 2005, hatched a plot to legitimise some of his allegedly stolen and laundered money through the purchase of a Challenger jet from Bombardier. Since he knew that he could not directly send money to the aircraft manufacturers, as that would have immediately raised questions in many quarters, Ibori got Gohil to register companies to use for the transaction and to make payments for the jet. In December 2005, Gohil, on behalf of Ibori, brokered a purchase deal for the Challenger at the cost of $20 million between Teleton Quays and Bombardier. Gohil also incorporated another company, Erin Aviation, in Mauritius, which later took over as the buyer from Teleton Quays. In July 2005, four payments totalling £4,788,176.92 were made from Ibori’s account held in the name of Stanhope into a Schrader Bank, Zurich account in the name of Edward Shemutete for Parabola International Corp. Shemutete is a known international expert in money laundering and legitimising corruptly gotten funds. He is currently under investigation in Zambia, his home country, for allegedly helping former President Frederick Chiluba launder money abroad.

Investigators say that Shemutete was most likely fronting for Ibori as he was introduced to the bank by Gohil, the same man who acted for the ex–governor in many other businesses. On September 29, 2005, the money was transferred from the Parabola account into a Barclays Bank, London account, which turned out to be a client’s account held by Gohil’s law firm, Arlington Shamas. The firm later made the payment to Bombardier.

However, there were more intriguing disclosures from the examination of the Teleton/Bombardier deal. By July 2006, a total of $9,856,685.22 had been paid for the jet. A breakdown of the payment shows that apart from the $4.788 million paid by Stanhope/Parabola, Bombardier also received $599,963.98 from Wings Aviation Limited; $899,805.96 from Erin Aviation; $249,007.72 from Pamaron Oil and Gas Limited; another $899,896.68 from Wings Aviation and a last tranch of $951,178.07 from Erin Aviation. The entry of Wings Aviation makes the jet purchase more intriguing. Wings Aviation is registered in Nigeria as a charter services provider.

Interestingly, investigators found out through a letter written by Gohil that Stanhope Investment and Parabola International Corp, both believed to be owned by Ibori, were principal shareholders in Aviation Development Corporation, the parent company of Wings Aviation. The investigators in London have inferred that Ibori, through his offshore companies, owns Wings Aviation and that he provided the monies paid by the company for the Bombardier jet. The investigators equally believe that the agreement between Erin Aviation and Bombardier is to be terminated and the purchase price of $20 million returned. The investigators have moved to place a restraining order on the jet or monies returned by the manufacturers and are also asking for a restraining order on houses, cars and accounts believed to be held by Ibori or his proxies.

These include three houses in London and Dorset, four vintage cars (a Bentley Continental GT, Mercedes MayBach, a Chrysler and a Jaguar) as well as several accounts held in his name and those of his front companies such as Stanhope Investments and Teleton Quays.

The London money laundering investigations on Ibori tell only one side of the story of this young man’s mindless looting of the funds kept in his trust when he was governor of Delta State. The investigations actually derived from investigations in Nigeria on Ibori spanning over two years by the EFCC. Although the EFCC had kept its investigations close to its chest, it was forced to come out with its findings after the Delta State government took the commission to court to restrain it, among other things, from arresting or prosecuting Ibori. In an affidavit deposed by Yahaya Bello, the head of the team that investigated the Ibori case, the EFCC finally opened an assortment of problems on the ex–governor’s looting ways. Many of the EFCC findings better explain some of the missing links in the British authorities’ investigations. The EFCC investigations uncovered several questionable payments to companies, associates and aides of Ibori, running into billions of naira. For example, it was discovered that there were monthly lodgements of Delta State cheques of between five and seven million naira into the accounts of Onovin Nigeria Limited. Vincent Uduaghan, owner of the company, told investigators that the payments, which totalled N350 million in five years, were for the supply of fuel from Total Nigeria Limited in Benin, Edo State. However, Total, which did have a fuel supply contract, denied having any dealings with Onovin Nigeria Limited.

Furthermore, it was discovered that lodgements of up to N400 million were made from state accounts into the accounts of Ede Ogoro, private secretary to Ibori, and Charles Isiayei, chief accountant to Delta State Government House. It was also revealed that these two men also made several cash lodgements running into billions of naira from “security votes” of the state into the accounts of companies controlled by or connected with Ibori. These include Koln Nigeria Limited, Silhouette Travels, Prime Chambers, MER Engineering Limited and Bainenox.

Another interesting discovery was that part of the money paid from Nigeria for the purchase of the Challenger jet was one million dollars by Pamaron Oil and Gas through Fidelity Bank.

The EFCC investigations also showed how Ibori bought into several companies in Nigeria, including recently privatised state ones using proxies to disguise the source of funds. For example, O-Secul Nigeria Limited owned by Mike Orugbo for $152 million acquired the National Fertiliser Company, NAFCON, in 2005. Orugbo was able to raise only $2 million but, curiously, the company was able to raise the balance from Oceanic Bank with which it had no prior relationship. The bank later received a total of $46 million to acquire 39 per cent of NAFCON from Copex Management Service, the same company that paid money to Arlington Sharmas on behalf of Erin Aviation for the purchase of the Bombardier jet. This time, Copex paid the money on behalf of Nortore Mauritius.
This company has been found to belong to a group of foreign investors two of who were brought into the deal by Arlington Sharmas, Ibori’s UK solicitor friend.

Oceanic Bank received a further N4.418 billion from Brisbane Limited, owned by Henry Imasekha, a known friend and associate of Ibori, for 13 per cent of the fertiliser company. Probes into the money paid by Brisbane only opened a new vista of Ibori’s thievery. It was discovered that, in 2001, Imasekha had secured a N2.2 -13824 loans from New Nigeria Bank to buy 10 per cent shares in Econet Nigeria Limited. There was no evidence that he had a relationship with the bank. Curiously, a few weeks later, the Delta State government bought off five per cent of Imasekha’s shares for N2.5 -13824. The businessperson to pay off the bank loan used this money. However, he still had N300 million as well as five per cent of Econet shares. The money used in paying for Brisbane’s 13 per cent shares in NAFCON came from the proceeds of the sale of Imasekha’s remaining shares in Econet.

Imasekha is believed to be a front for Ibori. The EFCC also alleged that Ibori used several companies to divert N5 billion from Delta State coffers into the purchase of shares from Afribank. The commission claims that the entire money had been recovered and returned to the state government. Ibori is also alleged to have similarly invested in high net worth portfolios, including Wilbros Nigeria Limited, among others.

The accusations against Ibori are, indeed, grave. They constitute the most brazen and monumental case of looting by any former state chief executive. In addition, there is not one of these allegations that the ex-governor is unaware of. There is proof obtained from some of his arrested associates that he has actually made efforts to suppress potentially incriminating evidence. Beyond this, Ibori has also played a game of survival by using his understanding of the nation’s political system to escape the law. Many believe he has an ally in Michael Aondoakaa, the attorney-general and minister of justice. Aondoakaa’s attitude towards the fight against corruption is, perhaps, better understood against the background of his having crossed the path of the commission in the past. As one of the counsel to the Benue State government in its action against the EFCC, the state government was asking the court to declare the commission an illegal body and that it had no right to investigate corruption cases against any official of the state. That case was recently decided in favour of the EFCC. Ibori’s first strategy was to buy time from prosecution by orchestrating the removal of Ribadu.

The magazine learnt that as soon as Yar A’dua came into office, Ibori and others recruited by him put pressure on the President to remove the EFCC boss. Their story was that Ribadu had thoroughly messed up and lost respect among Nigerians for allowing former President Olusegun Obasanjo to use him for political battles. If he is to be taken seriously about fighting corruption, then Ribadu would have to go, the President was told.

Having failed in this mission, Ibori and others who were afraid of Ribadu reportedly banded with Aondoakaa whom they knew had a grouse against the EFCC and its helmsman. To incapacitate the commission, a plot was hatched to remove its prosecutorial powers. Aondoakaa briefed Yar’Adua and soon presented a formal letter requesting to direct all prosecutions by the EFCC, Independent Corrupt Practices and Other Related Offences Commission, ICPC, and the Code of Conduct Bureau, CCB.

It was curious that the attorney-general was interested in only these three agencies connected with the prosecution of corrupt governors. However, the fallacy of his action was soon exposed when the President reportedly got superior legal advice from respected legal icons. Aondoakaa was forced by a thoroughly embarrassed President to reverse a decision he had announced to the whole world.

But Aondoakaa has not stopped acting on behalf of the same people that his office should be willing to prosecute if there is a case against them. The attorney-general forcefully took over the prosecution of the EFCC’s case against Orji Kalu, former governor of Abia State, based on a purported restraining order on the EFCC. However, Femi Falana, a Lagos-based lawyer, speaking to TELL in Lagos last week, said there was no such court order. Aondoakaa has also incurred the wrath of many Nigerians, particularly lawyers, for attempting to extricate Ibori from the restraint proceedings in a London court. The Southwark Crown Court in London had on August 2, 2007 frozen Ibori’s assets around the world estimated at about $35 million. However, the freeze order was lifted on October 2, 2007 after Speechly Bircham, Ibori’s lawyer, presented to the court a letter written by Aondoakaa stating that the former governor was under no investigation in Nigeria. It was gathered that Bircham had written to the attorney-general to inquire if Ibori was under investigation. Without reference to the EFCC, ICPC, CCB or any other investigating agency in the country, Aondoakaa wrote back to the lawyer saying Ibori was not under any investigation. Significantly, as pointed out by a lawyer, Aondoakaa also said in his letter that as attorney-general, he had not requested for assistance in investigating Ibori as required under the mutual legal assistance programme between Nigeria and Britain. This, more than any other factor let Ibori off the hook. However, that victory was only temporary for the former governor, as another court has reinstated the freeze order on his assets. Aondoakaa was said to have initially denied writing any letter to Ibori’s lawyer until the controversial letter was published on the Internet.

Perhaps, embarrassed by the seeming tardiness with which his government has prosecuting the war against corruption, President Yar’Adua directed the attorney-general to cooperate with the British investigating authority. Again, curiously, at a lawyers’ conference in Singapore, he announced the setting up of a special anti-corruption unit in his office.

In a related development, Aondoakaa, the magazine learnt, has also been putting pressure on the CCB to withdraw from his office about 18 case files submitted in relation to corruption cases against former governors. Many Nigerians have blamed President Yar’Adua for attempting to protect Ibori and other former governors from prosecution. However, the President’s attitude to his former colleagues is said to be that he did not tell anybody to steal state funds to fund his campaign and that, in any case, he personally received no money from any of them; so there are no entanglements for him. Even sources in the anti-corruption agencies confirm that the President has never interfered with their investigations of the former state chief executives. What has happened, it is said, is that some people have exploited the President’s natural disposition to do things by the book — to follow due process — to sell the new mantra of “rule of law” to him in order to slow down the momentum of the anti-corruption campaign.

As it is now, none of these strategies has worked for Ibori who is now on the run from the law in Britain and America. Soon, with the setting aside of the restraining order on the EFCC to do its job, Ibori’s days as a free man may be numbered.


Ibori's Loot
By ADEMOLA ADEGBAMIGBE, The News 22/11/07
Nov 23, 2007 - 11:51:52 AM Email this article
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As Reverend God-do-well Avwomakpa, the Delta State Chairman of Christian Association of Nigeria, CAN, read this story, he is bound to experience some psychological trauma. This is because, as he would find out, his action will go down in history with the same infamy as some European chaplains who, apart from building places of worship at slave camps, accompanied and blessed ships that sailed to Africa, carrying human cargo to the United States and the West Indies, from where they brought molasses in their triangular trips back to Europe.

Avwomakpa, on 1 October 2007, presided over the thanksgiving service held at Government House, Asaba, and the Delta State capital. It was in commemoration of the “victory†of former Governor James Ibori in his legal tango with a United Kingdom court over the former governor’s seized, illegally acquired assets. The subject of this religious service had, for eight years, turned Delta into one huge ship, the hull of which was filled with his subjects, living under slavish conditions, even as he appropriated their common wealth through panoply of tricks and multifarious proxies.

The service was attended by Ibori’s first cousin and successor, Governor Emmanuel Uduaghan; Mr. Olisa Imegwu, Speaker of the state House of Assembly; Ifeanyi Okowa, Secretary to the State Government, SSG; Professor G.G. Darah; Chief Ighoyota Amori; Chief Paulinus Akpeki and the Delta State Executive Council members.

At the occasion, Uduaghan said with éclat that Ibori was a wealthy man before he became governor of the state, adding that his 8-year tenure actually stalled his business interests. Ibori’s accusers, according to his successor, were only out to cause confusion in his political camp, which he had nurtured over the years. The Governor maintained that Ibori’s victory at the London court was not only for him but the entire people of Delta State.

A Southwark, London Crown court had earlier ordered that Ibori’s seized assets be immediately released. In a suit filed by Crime Prosecution Service, London, on 2 August 2007, the same court ordered the prevention of Ibori, Erin Aviation and others from having access to their assets in that country.

The benediction by Avwomakpa at Government House notwithstanding, Ibori’s victory ship hit an iceberg on 2 November. That day, the Federal High Court in Benin set aside the suit filed against the Economic and Financial Crimes Commission, EFCC, and the Federal Government by the Delta State government. The case was initiated to prevent the Commission, its Executive Chairman, Nuhu Ribadu and the Attorney-General of the Federation, Mr. Mike Aondoakaa from investigating the state finances, confiscating its accounts and arresting and investigating present and past officials of the state, especially Ibori.

Justice Gloria Okeke, the presiding judge, ruled that the EFCC Act gave the Commission wide powers. Thus, the court could not prevent it from investigating economic and financial crimes. By extension, the ruling meant the nullification of the interim order issued by the same court on 9 October, stopping EFCC from probing, arresting and detaining Ibori and other officials, past and present.

Moreover, the interim order was because of EFCC request that the Delta government supply it with information on documents relating to the state security votes, all contracts above N50 million, loans and contracts through irrevocable standing order or payments.

With this development, the EFCC has a load of allegations against Ibori for which it has vowed to dock the former governor.

Details of Ibori’s real estate acquisition could make the Egyptian Pharaohs turn in their tombs. Above all, the strategies the former governor adopted in siphoning the money would provide invaluable material for a PhD dissertation on illegitimate wealth acquisition. Indeed, Ibori is a record breaker.

What EFCC has against Ibori, after thorough investigation, are legion. First, Ibori, like a mafia boss, liked using a honeycomb of fronts in the form of blood relations, his officials and their companies, to milk his state. The Commission found out that Onovin Nigeria Limited, owned by Vincent Uduaghan, Governor Uduaghan younger brother, wired large sums of money to the account of Ibori’s sister, Christine Ibie, at HSBC London.

Onovin, the EFCC found out, was awarded a contract in December 2004 for laying of tartan tracks at Oghara Stadium. Ibori hails from Oghara, a town he has extensively transformed from a rustic settlement to a city well appointed. The tartan track project gulped N142.9 million. Rather than execute the project directly, however, Onovin secured the services of BSW Postfach 1180, Deutscheland, a Germany-based firm.

Ribadu men stumbled on a strange coincidence at the period when Onovin wired 284,000 euros to the German company for the job. An equivalent of N77.8 million from the contract sum was transferred to the account of Ibori’s sister at HSBC. As a conduit pipe, Onovin proved that it was not made of plastic but galvanised materials. Between 2002 and 2007, the company siphoned a total of N350 million, which came in lodgements of N5 million and N7 million Delta State Government cheques.

When EFCC asked Vincent men what the lodgements were meant for, they claimed they were for payments for the supply of fuel to the Government House from Total Nigeria plc depot in Benin, Edo State. The Commission, however, revealed that Total, which equally had the same contract for the supply of fuel to the Government House, denied having any dealings with Onovin Nig. Ltd.

The Commission further stumbled on another conduit pipe, in person of one Udoamaka Okoronkwo, Ibori’s mistress.

A total of N140 million, through three Assurance Bank drafts, was discovered transferred into her HSBC, London account. Her accounts, especially Sagicon Nigeria Limited, Rivbbed Agro-Allied, Saagaris Properties and Global Little Drops at Oceanic and Zenith banks showed many deposits of Delta State government cheques in the region of N2 billion. Out of the amount, N1.3 billion made a dramatic exit between May and December 2006.

Ibori’s private secretary, Ede Ogoro and Delta State Chief Accountant, Charles Isiayei, were discovered by EFCC to have received over N400 million through their personal and companies' accounts. The Commission revealed that it further discovered other cash lodgements running into billions of naira made by the duo in concert with some bank officials into the accounts of Koln Nigeria Limited, Silhouette Travels, Prime Chambers, MER Engineering Limited, Bainenox Limited between 2001 and 2007.

They were, as the Commission explained, purely drawn from the security votes of Delta State under the permanent secretary, Government House, Asaba.

Investigations by the anti-corruption agency further revealed that Prime Chambers, owned by Professor Tama, the present Deputy Governor, who was the Commissioner for Justice during the Ibori administration, was one of the beneficiaries of billions of naira cash lodgements. It was further discovered that Chide Ibie, also a director of MER Engineering and Koln Nigeria Limited, allegedly owned by Ibori, operated Bainenox Limited account in the United Bank for Africa.

As Ibori scratched his chin and salivated over what he stole, he needed to soar beyond his fellow Deltans, far from where their eyes could see. With this eagle mindset, he needed a $25 million aircraft. His men entered into a transaction with Wings Aviation Parabola International Corporation, a Mauritius-based company owned by one of Ibori’s Zambian sidekicks, and Copex Management Service. The latter, another Mauritius firm, was engaged in the negotiation and received payments on behalf of Evin Aviation, Pamaron Oil and Gas and others.

Apart from a sum of $1 million paid by Paramon Oil and Gas Limited from Fidelity Bank to Arlington Sharmas, the UK solicitors, EFCC further found out that the transaction was made about Bi-Courtney Limited, through another company, Flodan. The two firms, which allegedly moved money for Ibori, using another company, BIADOXE Limited as a disguise, were, as the anti-corruption agency revealed, owned by the same person.

When EFCC investigated the acquisition of the National Fertiliser Company of Nigeria, it uncovered more irregularities. An example was how O-secul Nigeria Limited, owned by Mike Orugbo, bid for and acquired NAFCON in 2005 for $152 million. During the bid process, EFCC revealed that Orugbo sourced for and paid $2 million to the company liquidators with a New Nigeria Bank cheque for the sum of N280 million issued sometime in August 2005.â€

Despite the non-existence of any banking relationship between O-secul and Oceanic Bank, the latter, according to the Commission, raised the remaining money on behalf of O-secul for the acquisition of NAFCON. Ribadu men wondered why the bank felt comfortable in granting the large facility to the company.

It was also discovered that Oceanic Bank received $46 million via a certificate of capital importation from Copex Management Service. The same company wired money to the UK solicitors on behalf of Erin Aviation. In the new deal, it wired money on behalf of Notore Mauritius for the acquisition of 39 per cent of NAFCON, which was renamed Notore Chemicals Industries Nigeria Limited.

Although Notore Mauritius claimed to be a group of foreign investors mainly from EMP, a US-based firm, and Egypt Fertiliser Company, EFCC found out that the two were brought into the investment by the same UK solicitors, Arlington Sharmas, which also participated in the Ibori aircraft transaction. It was the legal firm that also handled the purchase of Ibori’s property at 42 Great Ground, Shaftesbury, Dorset, U.K.

Another payment of N4.4 billion, as the anti-corruption agency found out, was received by Oceanic Bank from Brisbane Limited, through two Intercontinental Bank Manager cheques for acquisition of 13 per cent of the fertiliser company.

Henry Imasekha, owner of Berkeley Group of Companies, also owns Brisbane. When EFCC investigated the origin of the money paid to Brisbane, it found out that in 2001, Imasekha used Bromley Limited to secure a loan of N2.2 billion from New Nigeria Bank without any collateral or evidence of previous banking relationship with the bank and purchased 10 per cent of Econet Nigeria Limited (now Celtic).

A few weeks later, however, Delta State Government purchased 5 per cent of Econet (Celtel) shares from Bromley Limited for N2.5 billion via a Standard Trust Bank (now UBA) bank draft which he (Imasekha) used in settling the New Nigeria Bank facility. In 2006 when Celtel took over V-mobile, Bromley sold the remaining shares to Celtel and from the proceeds, it acquired 13 per cent of NAFCON.

Further probe of the Ibori government revealed that N5 billion share placements in Nigerian banks and companies from Delta State accounts in Oceanic and Zenith banks were diverted for the purchase of Afribank shares for Ibori. EFCC maintained that the fraudulent transactions were perpetrated through the use of 14 fake companies. Some of them were Double Dip Nigeria Limited, Arusha Nigeria Limited, Abajim Nigeria Limited, Lugba Nigeria Limited, Mombassa Nigeria Limited, Limpopo Nigeria Limited, Zaragoza Nigeria Limited and Sandton Nigeria Limited.
Fortunately for the Delta people, EFCC was able to stop the transaction and return the money to the state coffers.

Ibori also allegedly used his front, Imasekha, to divert funds to acquire Wilbros Nigeria Limited, a multinational oil servicing firm in Port Harcourt in 2006. Imasekha bought it for $155 million, using his new company, Ascort Offshore Nigeria Limited.

The Commission was also able to establish other massive fraud and theft of public funds against Ibori. He allegedly did this in collaboration with the state House of Assembly,using supplementary budget as disguise, EFCC maintained. The Commission revealed that supplementary appropriation was sent to the state legislature for approval of over N40 billion between 1999 and 2005. This, it revealed, was accompanied with executive letters, all dated 2004, signed by Chief Ibori for requests. The proceeds of this massive fraud are currently being traced. Worse still, EFCC found out that several billions of naira, meant as security vote for the Delta State Government from 1999 to 2007, were diverted by Ibori and his collaborators.

One of Ibori’s major proxies, his wife, Mrs. Theresa Nkoyo Ibori, was arrested at Heathrow Airport on 1 November 2007 when she wanted to board a Virgin Atlantic flight to Lagos. Her arrest, according to the Metropolitan Police, was in connection with an on-going money-laundering enquiry Although she was released on bail, she has a date with the British police in January 2008. But the Delta State liaison officer in Lagos, Michael Ujiagbedion, lamented that after two years of investigation, which has produced no evidence against Chief Ibori, the utterly embarrassed British authorities have now resorted to humiliating a law-abiding British citizen (Nkoyo Ibori)â€.

Ujiagbedion maintained that it is noteworthy that Nkoyo Ibori who owns properties and has lived in London for decades has never had any brush with the law. She was never declared wanted nor had her movement restricted. The police who should have ordinarily invited her if a need arises for such invitation know her home in London, Ujiagbedion argued, declaring that the woman is innocent of any crime.

Essentially, EFCC affirmed that Ibori declared when he became governor that he owned only four properties, valued at N100 million, which he acquired between 1995 and 1999. He also claimed that he owned seven plots of land which he acquired between 1983 and 2000 and put their value at N5 million. However, all these have paled into insignificance, considering all the properties owned by the former governor in Nigeria, United Kingdom and United States.

In the UK, the former Delta governor owns the $2.3 million property on Number 7 Westover Hill, London. Its title number is MX 2078021. The UK land registry revealed that the building was registered to Haleway Properties Limited, registered in Gibralter by BC Centrum, a company based at 788 Finchley Road, London. Ibori and his wife own Haleway, the investigators found out.

The former Delta governor owns another property, worth $750,000, with title number NGL 699019, situated at 20 Abbey Road, London NW89BJ. After an initial payment of $157,000 in 1999, Ibori made another settlement of $90,000 on 12 April 2000 and $70,081 on 25 July 2000.
It would later stumble on some catacombs full of rattlesnakes. Ibori allegedly used another front company, Telaton Quays Limited, to acquire another real estate investment at 42 Great Ground, Shaftbury, Dorset SP78FF. Registered with title number DT 32 G978, the $298,995 property was negotiated by Mr. Bhadresh Gohil of Arlington Shamas Solicitors. James Ibori made the payment through Udoamaka Okoronkwo, his mistress, on 20 July 2005.

For her effort and for delivering a child for Ibori, the politician bought her the property at 71 Mayflower Lodge, Regent Park Road, London N33HX. Abbey National Building Society received the mortgage through an HSBC current account number 21228420.
The former Delta governor’s sister, Ibie Ibori, lives at 76 Woodhill Crescent, Kenton, Harrow, Middlesex HA3 OLZ, a $475,000 property which belongs to him.

In spite of his kleptomania, Ibori believes in the motivational talk that money should work for its owner. With regard to this, he and Theresa, his wife, own Boyd, a property company in London. BC Centrum of 788 Finchley Road, London, manages it the investigators revealed.

To enable him have a firm grip on the company, the former governor, on 23 March 2004, appointed his mistress, Udoamaka, to act on Boyd Properties Limited. She was, the investigators maintained, given authority to sign documents relating to sales and purchases of assets by the company The company allegedly paid $388,077 to Peter Brown, solicitors, to acquire the property at 36 Hunter Lodge, Calton Gate, Maidavale, London W9 3TQ through an HSBC account number 91310801.

When EFCC was tracking down Ibori’s immovable investments, Bimpe moved from her 58 Uphill Drive residence to Flat 39, Barons Court, owned by Ibie Ibori, the investigators added.

Ibori also has properties in Nigeria. He allegedly bought the 21 Idejo Street property, off Adeola Odeku, Victoria Island in the name of his sister, Ibie. There are also a twin-duplex at 21 Probyn Road, off Bourdillon, Ikoyi, which the former governor purchased from G Cappa, a construction company; the property at 18A Adeyemi Lawson Road, Macpherson Avenue, Ikoyi and the one at 10A, B&C Turnbill Road, Ikoyi, Lagos.

Adebimpe Pogoson, issued a N20 million Assurance Bank cheque on 9 December 2003 to Diya Fatimilehin and Co for part-payment of Plot 5 Block 4 Layi Ajayi Bembe Street, off Turnbill Road, Ikoyi.

Ibori’s real estate conquest extended as far as the United States. He invested through HFA Development Group, making use of Citibank account numbers 3200056255 and 266086554. The bank is based at 1600 Coral Way, Miami, Florida.

Primi LCC is another company that Ibori relied on for his money laundering. His conduit was the Bank of America through account number 003677025981. One Segun Fawora who lives in a $750,000 seaside mansion on Aventura Avenue, Miami, was (and still is) the coordinator of Ibori’s Florida estate.

The former Governor, the investigators unearthed, owns Bond Technologies which, on 8 December 2003, received a transfer of $74,000 from Ibori’s KOLN account number 109091012 at Gulf Bank in Nigeria.
To further authenticate Ibori’s loot, Paul Gardner, a financial investigator, accredited by the Director of Asset Recovery Agency, swore to an affidavit, at Crown Court, Southwark, UK on 30 July 2007.

Gardner revealed a number of companies that have links with Ibori, describing Telethon Onaye Limited and Erin Aviation as investment vehicles for Ibori. The former governor is also the owner of Stanhope Investment Limited, Polynesia and the Julex Foundation, Panama. Although Ibori ceased being a director of MER Engineering company in 1999, Gardner said funds from the company continued to be transferred to accounts owned and controlled by James Ibori. The British financial investigator added that Ibori is the beneficial owner of Parabola International Corporation, Mauritius.

Gardner further exposed how Ibori spent 406,000 euros to buy a Mercedes Benz vehicle, VRM XC05 AAM. Stanhope Investment made the payment. This vehicle was armour-plated and was subsequently transported to South Africa, he asserted.

Keeping tab on these cross-continental investments, at a time when money launderers are haunted like rabbits, needs some subterfuge. In addition, Ibori’s proxies have such in dump trucks. Tinuola Faloye sent an electronic mail to Bimpe Pogoson (nee Faloye) on 13 July 2005, detailing how some bank officials helped Ibori to destroy records of financial transactions.

Tinuola explained a delay she encountered because officials of Citizens Bank had been reluctant to reprint them for her, as this will require recalling the files we told them to get rid of back into the system. She claimed to have held a meeting with Ibie Ibori, Davidson and David Edevbie, Delta State Commissioner for Finance and Ibori himself over the EFCC affair. She counselled that there is no point trying to hide a connection between the companies, as these people (EFCC) have most of the information. Some people seem to be of the impression that we were simply too careless...†Tinuola was trying to explain why it was no longer possible to keep Ibori’s links with all these individual and corporate proxies secret any longer. Rather, she attributed their exposure to multiple areas of carelessness.

First, she revealed that there were some cash payments to some people: Banke, Koln, Alcac, Harefe, Emma Okafor and Bola. Oga Econet (now Celtel) bills, she lamented, were paid with Koln cheques, establishing a link with Oga (Ibori).â€

She complained further that payments were made from Charter House to Alcac which may entail the invitation of Alcac Platinum and Bay Projects, companies that were linked to Ibori. Tinuola added that if EFCC or international investigators looked for Koln and Harefe in NNB, it would lead to more accounts being called up.

Tinuola bemoaned the fact that Ibie and she were signatories to all these accounts, [which] just complicates things. She added that it was fruitless trying to sort out, as Charter House from Abuja as they (EFCC) have the incorporation documents.

Tinuola was unhappy that in their foolishness, Ibori’s fronts did not pay cash for all transactions, but cheques which might require that many accounts be called up. She mentioned some companies like Silhouette and Paulina, which might be traced to Ibori through the process.

Tinuola, however, assured Bimpe Pogoson that there was still some hope. In her words: I was in NNB for a few hours yesterday and I went back there today. Davidson and Chinedu think there is no point but were able to get some things deleted from the statements and I will continue trying. She assured Pogoson that she would soon meet Ibori with bank statements of Harefe, Alcac, Koln, Charter House and Bay Projects and would report on what transpired.

Alcac, as the investigators revealed, is a company registered in Nigeria (RC 380602) which claimed to manufacture exercise books. Harefe, on the other hand, is Ibori’s printing press.

Is it possible for Ibori’s men to delete all bank transactions involving him? Not, his critics argued.

In its 23 February edition, Insider, a weekly magazine, revealed how Ibori used an account (PB1001) with a new generation bank to defraud his state. The account was found to be in deficit of N1billion, but it was discovered to be a smokescreen. The bank actually, according to the report, permitted these withdrawals as up-front commission payments to Ibori in return for lodging a portion of the statutory allocation of Delta State from the Federation Account.

Here is how. Whenever the monthly N5 billion allocation of Delta was released by the Central Bank of Nigeria, it was deposited at another first generation bank where, in line with the former governor’s instruction, N2.5 billion would be transferred to the special account PB1001. Not only that, Ibori was alleged to be in the habit of fixing the transfer for three months, the interest proceeds of which he used to offset his usual N1 billion overdraft at his special bank.
Beyond trying to delete bank transactions, Ibori has been adopting many stratagems to evade justice. For instance, when the Southwark Crown court froze Ibori’s over $25 million assets in the UK on 2 August 2007, the former Delta governor used his influence with the President YarAdua government to get off the hook.

Swiftly, the Attorney-General of the Federation, Chief Michael Kaase Aondoakaa, who seems to enjoy stirring controversy, wrote a letter, reference number IFT/JAT/316533, on 4 August, claiming that there was no record that Ibori has been charged to any court of law in Nigeria in respect of any offence relating to money laundering or any offences in connection with his acts and activities whilst in office as governor of Delta State between 29 May 1999 and 29 May 2007.

Aondoakaa gesture attracted dissension from the critical section of the Nigerian society. According to Afenifere, the Yoruba socio-cultural group, the Attorney-General letter must be investigated. The Conference of Nigerian Political Parties, CNPP, considered it a hidden agenda by President YarAdua to cover up the monumental graft, which is the metaphor of the past administration.

However, Aondoakaa defended himself that he wrote a letter, replying to a request by Ibori’s counsel, Lam Timlin and Julie Thrower of City Dispute Resolution Solicitors London.

Another strategy adopted by Ibori to evade justice was, according to critics, his huge investment in the election of President YarAdua. However, the new Nigerian leader disappointed Ibori, who has since voted with his feet.


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Former Governor James Ibori of Delta continues to consolidate his reputation as one of the most ingenious and mindless embezzlers of state resources of all former state governors. Documents of his ongoing money laundering investigation paint a lurid picture of Ibori’s compulsive taste for luxury, especially in the acquisition of luxury cars and high-priced, choice property.
The documents reveal that, during his eight years in office as Delta State governor, Ibori acquired a number of top line automobiles. His obsession with automobiles was widespread: he used his questionable wealth to purchase American-, German- and British-made cars.
In addition, as if his lust for cars was not enough, he set his sight on conquering luxury jets as well. As we earlier reported, he bought a brand new Bombardier Challenger 604 jet with monies looted from Delta State.
In person, Ibori tries to project the image of a member of the Mafioso. Dapper in appearance, his signature bowler hats also lend him the look of a pimp.
He even made Canada’s Bombardier Aerospace Company, the manufacturer of his jet, to “pimp up” his private jet by making finicky requests on four occasions for stylistic adjustments on his jet. His dream for a custom-made jet jerked up the cost of the jet by another $100,000 and added several weeks to the delivery date.
Ibori’s requests ranged from seeking additional headrests for 12 seats in the jet to asking for the inclusion of RCA jacks to make the aircraft iPod compatible.
As to James Onafefe Ibori's cars in Nigeria, one of his former aides revealed to us that the former governor “is a car freak
Documents describe Ibori’s acquisition of a state-of-the-art armour plated Mercedes Benz (Maybach 62 Maclaren) vehicle in May 2005. The car, with registration number XC05 AAM, is one of the hallmarks of Ibori's appetite for luxury cars. The car’s price tag was 406,600 Euros ($582,654.12 USD). Ibori bought it from the Mayfair Mercedes Benz dealership situated at 105 Wigmore Street, London, W1U 1QY. After paying for the car, Ibori had it shipped to South Africa with all paperwork completed through his address at Flat 23, 20 Abbey Road, London, NW8 9BJ.
One of Ibori’s front companies, “Stanhope Investments Limited,” did payment for the vehicle with payment instructions issued via PKB PRIVATE BANK AG 12 Charles Galland, Geneva, Switzerland.

James Ibori owned three other luxury cars in London, parked in garages of his different homes in London. He is the sole registered owner of a Bentley Continental GT with registration number LK54 NFT, a Chrysler car with registration number LN51 FRT and a Jaguar with registration number W933VLP.

Ibori’s real estate holdings are also spread all over the UK. Investigations at the UK land registry revealed that he owns 7 Westover Hill, London HA3 0LZ with title number MX 207021. The property was fully paid for as of 2001. The amount paid for the property was £2.3 million, but the property’s current value is £4 million. The property is registered to Haleway Properties Limited, a company registered in Gibraltar by a company formation known as BC Centrum at 788 Finchley Road, London. James Ibori and his wife, Theresa Ibori, are the beneficial owners of Haleway Properties.
Ibori also owns the property located at Flat 23, 20 Abbey Road, London NW8 9BJ, with title number NGL 699019. Registered in the name of James Ibori, the property was purchased in 1999 with an initial deposit of £157,000. On April 12, 2000, almost one year into his tenure as governor, Ibori made a further payment of £90,000. A final payment of £70,081 was made on July 25, 2000. The property is now approximately worth £750,000.

On July 29 2005 another of Ibori’s several front companies known as Telaton Quays Limited acquired a property at 42 Great Ground, Shaftbury, Dorset SP7 8FF. The property is registered at the UK land registry under title number DT 326978; the property was purchased for £298,995 and is currently valued at £350,000. The contract was handled by Mr. Bhadresh Gohil of Arlington Sharmas Solicitors.

The payment for the property was made by James Ibori's mistress, Udo Amaka Okoronkwo through a cheque in the sum of £311,000 dated July 20, 2005. Theresa purchased the property through Telaton Quays Limited. A correspondence from Ibori to Bhadresh Gohil indicated that the former governor gave specific instructions directly to Mr. Gohil to complete the purchase.

High Commission of India, London
Economic & Commercial
Indian Companies in the UK
Arlingtons Sharmas Solicitors
6, Arlington Street
St James’s
London SW1A 1RE
Tel No 0207 299 8999
Fax No 0207 299 8900
Contact Mr Bhadresh Gohil
Position Partner
E-Mail  law@arlingtons.co.uk
Website www.arlingtons.co.uk and www.goodmanintl.com
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Tax
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• ATO Guide to Capital Gains Tax 2006-2007