N9 Billion Loan fraud: Saraki lobbies CBN Ag Gov., Alade, Emefiele

There are strong indications that the last has not been heard about the
N8.115 Billion Intercontinental Bank loan obtained by Senator Bukola
Saraki, but fraudulently written off by the Ex CEO, Mahmoud Alabi.

According to another rogue banker and former Intercontinental Bank boss,
Erastus Akingbola, in a petition to President Goodluck Jonathan, “He
(Alabi) also wrote off loans totaling N32bn to friends of Dr. Saraki and
Mallam Sanusi. All this, in a bank that they were meant to be rescuing.
“All these written-off loans had been classified as ‘good’ and
‘performing’ by the CBN examiners, and had been secured with properties in
Ikoyi (Lagos) Victoria Island (Lagos) and Abuja.”

 sources hinted that Saraki has stepped up the lobbying
of the Acting CBN Governor, Serah Alade, incoming Governor, Godwin
Emefiele, and some top officials of the apex bank. The move, it was
gathered, is to ensure he is given soft landing, spared prosecution and
possible jail time over the financial crime. Alabi who is currently in
custody, was a lackey and staff of Saraki’s family Tsonga Farm Limited.

Said our source “ This is a big problem for Saraki. He has been trying to
reach out to the Acting Governor , some other top officials, and even sent
emissaries to the new man (Emefiele). Truth is since the matter has
reached SFU and EFCC, it becomes difficult to want to ‘settle’. His plan
is to ask for soft landing, agree to a payment plan but as it is now, it
is a financial crime, and his man Alabi is talking. Don’t forget he has
the issue of the collapse of Societe Generale bank with the EFCC as well.”

Another source said, “if the written-off loan is reverted, Saraki is
finished, he will be heading to jail.”
Before Saraki jumped ship with 9 others in the senate from PDP to the APC,
he had prevailed on David Mark, and tried to reach Jonathan all in a bid
to find a way out of his pit. But Jonathan kept away. He had wanted
Jonathan and Mark to speak IGP Mohammed who was expected to “speak” with
his boys at the Special Fraud Unit. All failed. Mohammed was Kwara CP when
Saraki was Governor.

Shareholders who have sued him for N10 Billion and want N25 Billion
recovered from debtors with interest are kicking the Sanusi connection in
the takeover. According to them Sanusi took the decision “to confer
corrupt advantage upon himself and his friends, associates and cronies”.
Others who benefited from Alabi’s generosity are Aig Aigboje- Imokhuede,
and Herbert Wigwe.

Akingbola on his part alleged that Sanusi penciled down Intercontinental
and Oceanic owned by Cecilia Ibru because had issues with him and Ibru.
According to him, he got into the bad books of Sanusi because Saraki told
Sanusi, he, Akingbola and Ibru put together N6 Billion to block his
clearance at the Senate.

Saraki had been been grilled by the EFCC over the matter and is being
hunted by the Special Fraud Unit (SFU). He had gone to court to stop the
investigation but failed.
Detectives are trying to understand how jumbo loans running over N9
Billion found its way into the subsidiaries of an oil marketing company,
Joy Petroleum, owned by one of Saraki’s former aides, now deceased,
Matthew Obahor.

The detectives, according to our sources, also want Saraki to help them
understand how choice properties in the up-scale markets of Ikoyi and
Victoria Island in Lagos connected to him were used as collaterals in the
multiple loan schemes that were not repaid but had been substantially
written off and the properties relieved of their collateral status.

It was learnt that Bola Tinubu scolded Saraki when the latter missed the
reconciliation meeting brokered by Tinubu between Borno Governor, Shettima
and Modu Sherriff. According to a source when Saraki explained that he has
a bigger fish to fry Tinubu remarked, “Is that why you missed such an
important meeting, we all have such issues hanging over us please”

Some of the companies used by Saraki to get the loans are Joy Petroleum,
Skyview Properties, Carlisle Properties, Dicetrade and Links with Toyin
Saraki, his wife as CEO. The bank accounts used were 0134115000050197,
013400100230974 ( Ikeja) and 0029001000013760 ( Ilorin)