EFCC confirms witness got N3m from ‘hoax’ loan

By Henry Ojelu/ Judiciary Correspondent

The Economic and Financial Crimes Commission (EFCC) today confirmed that a prosecution witness and a director in Futureview Securities,  Mrs. Elizabeth Ebi, received the sum of  N3 million as interest in an alleged hoax loan transaction.

Futureview securities, Trajet Limited and Extra oil limited are  companies fingered in the18.2 billion loans transaction during  Mr. Francis Atuche’s tenure as Managing Director of Bank PHB (Now Keystone bank).

Hamda Bello, a prosecution witness in his testimony at the ongoing trial of  Atuche, his wife, Elizabeth and the erstwhile Chief Financial Officer of the bank, Ugo Anyanwu, over allegations of stealing told the trial court that Mrs Ebi actually made interest from the transaction in her call account.

While being cross examined by Sylva Ogwemoh, counsel to  Anyanwu, the detective told Justice Lateefat Okunnu that the commission was not interested in the interest made by the woman but the capital.

He also said although there were other officials of the bank who knew about the loans, but that  Anyanwu (the third defendant) approved the loan to Ebi’s company.

When asked if he had  followed the audit trail of the bank during his investigation to ascertain whether or not  the loans were normal , he said  that was not necessary as  he was more interested in following the money.

On why Ebi was not on trial for  benefiting from a loan, she originally denied knowledge of, Bello said it was not necessary because his investigation showed she did not apply for the loans in question.

According to him,  enquiry from the compliance department on the account opening packages of Trajet Limited, Future views Securities and Extra oil limited, companies that are fingered on the loan transactions, showed that  the accounts exist only in the system.

The EFCC operative  also said he did not extend his investigations to other officials of the bank because he already had a lead on the movement of the money, which later returned to the bank as offers.

Further hearing  on  the matter continues 11 February, 2012 when  the defence is expected to re-examine two prosecution witnesses, Elizabeth Ebi and Diamond Uju, on some fresh issues after the court had given the defence  permission to recall them.
The witnesses, who are directors of some of the companies fingered in the transaction had in their testimonies denied knowledge of the loans which the Economic and Financial Crimes Commission described as hoax loans.

Specifically, Ebi had denied asking  for the loans,  the subject of the trial but the defence said they are in possession of a resolution where she applied for the said loan.