N650m Fraud: EFCC Quizzes Ladipo Market Leaders

The Economic and Financial Crimes Commission, EFCC, yesterday summoned the leaders of Aguiyi Ironsi International Trade Centre, Ladipo Market, Mushin, Lagos State, Nigeria, to explain what they know about the N650 million fraud alleged to have been perpetrated by their president.

The President, Chief Jonathan Okoli was accused by the aggrieved traders that he defrauded the Lagos State government, Mushin local government and traders to the tune of N650 million.

However, Jonathan Okoli has denied that allegation but the traders insisted that he should account for their money.

Those summoned to the EFCC office include the former president of the market, Chief Innocent Ejike, Anthony Nwanzelibe, General Secretary; Lazarus Ibekwe, Financial Secretary; Lucky Uchendu; Tony Onyiliagha, Vice President among others.

P.M.NEWS gathered that they were summoned to explain what they know about the financial crises rocking the market.

Confirming the invitation, Chief Ejike said that they were summoned and their statements were taken and they were allowed to go until when they needed them again.

The market has been in crisis over what the traders said was due to the leadership style of their president, Chief Okoli. This has led to the arrest of Chief Okoli by the EFCC which later granted him  bail while the investigation continued.

His arrest, P.M.NEWS gathered, followed a petition to EFCC by a Lagos lawyer and human rights activist, Femi Lalana, to investigate the allegation and bring the president to book.

Okoli has been having a running battle with the traders in the market over the imposition of levies which the traders refused to pay. This resulted in fracas in the market.

The fracas resulted in the arrest of the leaders of the opposing camp, Okey Imo and Obi Umezinwa. They were flown to Abuja but later released on bail.

Through their petition, the traders accused Chief Okoli of generating N5 million monthly as container levy paid on containers entering the market alone, apart from other levies accruing to the union and that he had collected the money for three years without rendering account.

What worsened the situation in the market, P.M.NEWS learnt, was when the leadership allegedly asked owners of each shop in the market to pay N11,500. There are about 2,000 shops in the market.

The president claimed that the money was for trader’s permit and vehicle licence approved by the state government. The traders refused to pay and accused him of not accounting for the monies generated through levies imposed on traders in the market.

The president allegedly reported to them that part of the money he realised is used to run the association.

But the traders went ahead to substantiate their allegation, reportedly went to the state government and Mushin local government and discovered that the previous N65 million allegedly contributed for the same purpose, only about N2 million and N1 million was paid to state government and Mushin LGA, respectively.

This fuelled their anger and they instructed Falana to write to EFCC who has now commenced full scale investigation on the allegation.

—Cyriacus Izuekwe