7th May, 2012
A Federal High Court sitting in Abuja presided over by Justice Adamu Bello on Monday 7 May remanded in Kuje Prison, one of the persons facing trial over the massive theft of police pension funds.
Sani Teidi Shuaibu, the accused remanded is facing trial over a Four Hundred and thirty nine million (N439 million) pension fraud.
He was charged with fraud, conspiracy to commit fraud and concealing the illicit origin of stolen pension funds by the Economic and Financial Crimes Commission, EFCC.
Four companies were also charged as the prosecution claimed they were used as vehicles of money laundering. They are: Badawulu Ventures Limited, Ebunu Attah Investment, Muha Millennium Motors Limited and Riba-ile Petroleum Limited.
Shuaibu is alleged to have conspired with Badawulu Ventures Ltd, Ebunu Attah Investment, and Riba-lle Petroleum Ltd to launder illegal funds derived directly from the pensions department, Office of the Head of Service of the Federation of Nigeria into the account of Muha Millennium Motors Limited through which the principal accused person (Dr Sani Teidi Shuaibu) purchased Brifina Hotels Limited located at Plot 1106, Cadastral Zone, BO2 Durumi District, Area 1, Abuja, at the sum of N399 million (Three hundred and ninety nine million naira).
After reading the four count charge, counsel to the accused, S.I Ameh SAN, then applied for bail for his clients, which was opposed by prosecution counsel, Godwin Obla. Obla however told the court that he strongly opposed bail for Shuaibu because he has a history of interfering with investigations and harassing potential witnesses in related cases before the same court. Justice Adamu Bello then adjourned the matter to Wednesday May 9th , 2012 for ruling on the bail application, and ordered that the accused person be remanded in Kuje prison.