The Executive Direct, Projects, in the Niger Delta Development Commission, Mr. Tuoyo Omatsuli, accused of being involved in a N2.4 billion fraud in the commission has denied the allegation.
The Managing Director of the NDDC, Mr. Bassey Dan-Abia, the commission’s Executive Director, Finance and Administration, Henry Ogiri, and Omatsuli, were all fingered in the alleged fraud.
A group of activists had petitioned the Economic and Financial Crimes Commission to investigate the three directors, claiming that they (directors) had illegally obtained a loan of N2.4bn from a first generation bank without the knowledge of President Goodluck Jonathan and the Board of the NDDC.
The group led by one Chief Ngoye Iyalla, also approached a Federal High Court in Abuja for an order compelling the EFCC to investigate and prosecute the three directors for the alleged fraud.
But reacting to the allegation on Saturday, one of the directors, Omatsuli, dismissed Iyalla’s allegations and challenged him to provide any document to prove that they (Omatsuli, Dan-Abia and Ogiri) took loans on behalf of NDDC.
Omatsuli explained that NDDC was not allowed to take loans and wondered why the group was accusing them of taking loans.
“He (Iyalla) should have presented the papers we used in taking the loan. At least, before you take loan from any bank, you must sign documents. Let him produce any document to show that we took loan.
“It is not just writing petitions; the person writing the petition should be able to bring copies of documents signed for such loan. No bank gives you loan without you signing some documents.
“The problem is that they think we are making so much money here. We are trying to survive. Since this year, how much have we received?, Oil companies are not paying. There is no money anywhere. Contractors have finished work and we cannot pay them and somebody is writing petition.
“If we have the opportunity to take loan, we will take loan and pay the contractors. But we cannot take loan because the commission is not allowed to take loan. For now, we can’t pay them because money is not forthcoming,” Omatsuli added.
Iyalla had, in a letter dated February 4, 2015, alleged that the management of the commission had been committing series of fraud in NDDC without the knowledge of President Jonathan or the commission.
According to the petition to the EFCC, “The management of Niger Delta Development Commission has been perpetrating series of fraud at the commission without the knowledge of Mr. President or the board.
“For example, contrary to section 17 of the NDDC Act, which stipulates that the commission cannot borrow except with the consent of the board and approval by Mr. President himself, the management team arranged a revolving overdraft facility with an old generation bank in Port Harcourt of over N2,400,000,000, using an illegal forex account in the same bank which have been hitherto ordered to be closed, and have not only been illegally paying an outrageous overdraft management fee of N24,000,000 monthly but also using the proceeds to repeatedly pay only a select few contracting firms.”
In it prayer at the Federal High Court, the group, in Suit No. FHC/ABJ/CS/301/2015, sought an order of mandamus to compel the EFCC to investigate and prosecute the three directors of the commission.
Dan-Abia, Ogiri; and Omatsuli were listed as 3rd, 4th and 5th respondents in the suit concerning an alleged serial financial crimes in the running of the NDDC.
Iyalla had maintained that the three directors in NDDC had been servicing the said loan with N2.4 million monthly.
A letter from Iyalla to the directors of the commission dated September 7, 2014 had queried the rationale behind the loan.
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