Billionaire businesswoman, Bola Shagaya’s shocking secrets have been exposed. The Economic and Financial Crimes Commission (EFCC) told the Federal High Court in Lagos that the N1.9billion found in her frozen account was the balance of a total of N3,305,150,000, which she received as “founder fees” on behalf of an organisation, Women for Change, being spearheaded by a former First Lady, Mrs. Patience Jonathan.
The anti-graft agency revealed that the N1.9billion was part of N3.3billion, which Shagaya allegedly realised through “fraudulent activities in the Nigerian National Petroleum Corporation,” where she allegedly “influenced the fraudulent allocation of Dual Purpose Kerosene to Index Petrolube Africa Ltd., with the aid of the former First Lady, Mrs. Dame Patience Jonathan.”
The EFCC disclosed that the N3.3billion was paid by Index Petrolube Africa Ltd. and its sister company, Autodex Nigeria Limited. The two companies, it said, belong to one Honourable Ezeani ThankGod, adding that the reason for the N3.3bn payment was to “fraudulently facilitate Dual Purpose Kerosene to ThankGod’s company, Index Petrolube Africa Ltd.”
The anti-graft agency claimed that out of the N3.3billion, Shagaya had “paid a cumulative sum of N1,212,000,000 to the former First Lady, Mrs. Dame Patience Jonathan, through her bank account, ‘Women for Change Initiative,’ domiciled in Diamond Bank, to which the former First Lady is the sole signatory.”
The EFCC said that after paying N1.2billion to Patience, Shagaya kept the balance of N1.9bn for herself by “warehousing” same in her personal bank account in Unity Bank.
The EFCC said it was on this basis that it secured an order of Justice Muslim Hassan of the Federal High Court in Lagos on December 29, 2016 to freeze the account.