The Economic and Financial Crimes Commission (EFCC) may arraign a former Minister of Power, Saleh Mamman, today for allegedly laundering over N33,804,830,593.73.
Mamman, who served under ex-President Muhammadu Buhari, is expected to face 12-count charge, based on offences he allegedly committed during his tenure between August 2019 and September 2021.
The offences border on conspiracy to commit money laundering, and possession and use of known proceeds of criminal conduct.
According to some of the charges, Mamman allegedly conspired with other officials of the Ministry of Power and private companies to “indirectly convert the total sum of N33, 804, 830, 593.73, which was part of the proceeds of unlawful activity”.
The EFCC said the unlawful conversion was a “criminal breach of trust in relation to the funds released for Mambilla and Zungeru Hydroelectric Power Plant Projects by the Federal Government of Nigeria”.
Also, he was alleged to have contravened Section 18(a), 15(2)(b) of the Money Laundering (Prohibition) Act 2011 as Amended), and punishable under Section 15(3) of the same Act.
Out of the sum, the EFCC said the former minister allegedly made a cash payment of $665,700(then worth about N200 million) for the purchase and acquisition of a landed property at No.12A & B Lungi Street, Off Cairo Street, in Wuse II part of Abuja.
The cash was paid to MOHIBA INVESTMENT LTD (acting through Mohammed Asheik Jidda), without going through a financial institution.
The EFCC said Mamman therefore, allegedly committed an offence contrary to Sections 1 and 18(a) of the Money Laundering (Prohibition) Act, 2011 (as Amended), and punishable under Section 16(2)(b) of the same Act,
He was also alleged to have violated Sections 30(1Xf) and 22(a) of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, and punishable under Section 30(2)(a) of the same Act.
