Saharareporters, New York

So much has been published about how the Sarakis looted and wrecked a public bank operated by their family (Societe Generale Bank Nigeria PLC), Saharareporeters is now in possession of charges that ought to be filed against the Saraki patriarch and 9 others who destroyed the SGBN, particularly between 2001 and 2003 when Dr. Saraki physically looted the bank vaults to aid the victory of two of his children in their quest to become elected officials both at the state and national level.

The Sarakis succeeded in their political moves as  his son, Bukola Saraki became the governor of Kwara State while the daughter, Gbemisola Saraki also got elected into the senate in 2003, but the teeming customers of Societe Generale Bank Nigeria PLC were not that lucky, most, if not all, lost their life savings in the bank. The Central Bank of Nigeria first suspended the banks’s license over what it claimed was its inability to meet the July 6, 2004 directive and in 2005 the CBN revoked the operational licence of the bank as SGBN failed to meet with the directive to all banks in the country to raise their paid-up capital base to N25 billion.

Efforts by the Economic and Financial Crimes Commission (EFCC) to bring the culprits to book were frustrated by former president Obasanjo, whose political affiliations with the Sarakis blossomed over the last eight years he was in office, the Sarakis and their collaborators also went further by destroying evidence of their malfeasance at the bank.

Last January, EFCC officials concluded plans to arrest and prosecute the Sarakis for destroying the SGBN. They prepared 30 -count charges and planned to file their cases in before the Federal High Court in Lagos, but before they could strike Nuhu Ribadu, the chairman of the EFCC was sent on compulsory study leave to NIPSS Kuru, a remote part of Plateau State near Jos city. He will remain there for six months. A fresh attempt by his predecessor, Ibrahim Lamorde to file the charges was thwarted as he was suddenly replaced with Mrs. Farida Waziri, a retired Assistant Inspector General of Police, whose off duty job included pressurizing Nuhu Ribadu and his men to drop the failed bank charges against the Sarakis. Ibrahim Lamorde, who has worked mostly as an anti-fraud police officer for the last 15 years was posted to Ningi, a remote part of Bauchi State to head a police area command.

Below are the 30 –Count charges that never made it to the Federal High Court in Lagos:

IN THE FEDERAL COURT HOLDEN AT LAGOS

 

 

BETWEEN:

THE FEDERAL GOVERNMENT OF NIGERIA

AND

1.DR.OLUSOLA SARAKI }

2.ROBERT MBONU }

3.HAFIZ BAKARE }

4. TOYIN IDOWU }

5. G.A OYENOLA } ACCUSED PERSONS

6.YINKA FEGBEMI }

7. KENNEDY IZUAGBE }

8. DELE ILUYOMADE }

9. NOAH OLOPOENIA }

10. LANA HAASTRUP }

 

CHARGE

 

COUNT 1

That you DR. OLUSOLA SARAKI while being a Director of Societe Generale Bank Nig. Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court and having personal interest in the grant of a loan facility amounting to N210, 000,000 (Two Hundred and Ten Million Naira) granted by the Societe Generale Bank Nig. Plc to People Democratic Party (PDP) Kwara State chapter failed in your duty to declare the nature of your said interest to the Board of Directors of the said Societe Generale Bank Nig. Plc and you thereby committed an offence punishable under Section 18 (11) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria 2004

 

COUNT 2

That you ROBERT MBONU while being a Managing Director of Societe Generale Bank Nig,. Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court granted an unsecured loan amounting to N210, 000, 000.00 (Two Hundred and Ten Million Naira) to People’s Democratic Party (PDP) Kwara State Chapter in contravention of the bank’s rules and regulations governing same and you thereby committed an offence punishable under Section 18 (2) of Banks and Other Financial Institutions Act Cap B3 laws of the Federation of Nigeria 2004

COUNT 3

That you DR. BUKOLA SARAKI while being a Director of Societe Generale Bank Nig. Plc between 2002 and 2003 at Lagos in the Lagos Judicial Divison of the Federal High Court recklessly approved the grant of a loan in the sum of N210, 00,000.00 (Two Hundred and Ten Million Naira) to the People’s Democratic Party (PDP), Kwara State Chapter with no collateral in contravention of the bank’s regulation and thereby committed an offence punishable under Section 16 (1) (a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Bank Act Cap F2 Laws of the Federation of Nigeria 2004

COUNT 4

That you DR. OLUSOLA SARAKI while being a Director of Societe Generale Bank Nig. Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N210, 000,000.00 (Two Hundred and ten Million Naira) to the People’s Democratic Party (PDP), Kwara State Chapter with no security in contravention of the law being in force at the time and thereby committed an offence punishable under section (16) (1) (a) of the Failed bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria 2004

 

COUNT 5

That you DR. OLUSOLA SARAKI while being a Director of Societe Generale Bank Nig. Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court negligently connected with the approval of a loan in the sum of N210, 000, 000.00 (Two Hundred and Ten Million Naira) to the Peoples Democratic Party (PDP) , Kwara State Chapter with no security in contravention of the law being in force at the time and thereby committed an offence punishable under section 16 (1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria 2004.

COUNT 6

That you DR. OLUSOLA SARAKI while being Director of Societe Generale Bank Nig. Plc between 2002 and 2003 at Lagos in the Lagos judicial Division of the federal high Court and having personal interest in the grant of a loan facility amounting to N40, 000,000.00 (Forty Million Naira) granted by Societe Generale Bank Nig. Plc to the Peopeles Democratic Party (PDP) , Kwara State Chapter failed in your duty to declare the nature of your said interest to the Board of Directors of Societe Generale Bank Nig Plc and you thereby committed an offence punishable under section 18 (11) of the Banks and Other Fiancial Institutions Act Cap B3 Laws of the Federation of Nigeria 2004.

More to come...

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