How two former ministers pretend to be foreign investors
The interrogation hinged on a petition reporting the alleged fraud submitted to the Attorney-General of the Federation, Mr Abubakar Malami, SAN, dated April 3, 2019.
The petition is titled “Official corruption, misuse of FGN USD two billion, fraud and unjust enrichment of persons who dispossessed more than 65,000 Nigerians and conferred ownership of the Bank on few Nigerians and their foreign accomplices’’.
The petition did finger former Central Bank Governor, the Emir of Kano, Alhaji Sanusi Lamido Sanusi II, under whose watch the alleged fraud was perpetuated.
Also accused of alleged complexities in the transactions were the two former ministers.
Enelamah was particularly fingered as the mastermind of the transaction by allegedly leading Africa Capital Alliance to form the Mauritius shell company to house Nigerians pretending to be foreign investors.
The transactions allegedly dispossessed Nigerian shareholders and investors in order to transfer ownership of the bank to a few persons including insiders, chieftains of competitor banks and others who would not pass CBN’s “fit and proper’’ test for bank ownership.
The petition claimed that Enelamah allegedly organised the registration of the offshore shell company in Mauritius called Union Global Partners Limited for the purpose of disguising the true majority ownership of Union Bank shares concealed in the offshore company.
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