Joy Petroleum Writes to Senate President Over Accounts Frozen By Access Bank, Blames Senator Saraki And CBN Governor Sanusi

Posted: August 20, 2012 - 19:06

Posted by siteadmin

caption: Bukola Saraki

By SaharaReporters, New York

Joy Petroleum has written to the President of the Senate to intervene in its face-off with the management of the Access Bank in its efforts to unfreeze its accounts there, which it blames on Senator Bukola Saraki and Central Bank of Nigeria Governor, Lamido Sanusi.

In the petition, Rotimi Johnson and Co., solicitors to Joy Petroleum, detailed how the company has been prevented from operating its accounts with Intercontinental Bank plc. (now taken over by Access Bank plc.), since December 2009

“The Bank has insouciantly held on to the said accounts against all known or cherished norms of bank-customer relations,” the statement said.

It noted that Saraki’s fronts in the Bank are the ones blocking the operation of its accounts in the former Intercontinental Bank, and that they are reportedly under Saraki’s instruction not to allow the operations of Joy Petroleum Ltd. Company accounts.

Said the complaint, “Against all known norms of practice of banking or of elementary law of contract, persons who are not connected – remotely or otherwise – with particular accounts in a Bank are issuing instructions to the Bank to block the operation of those accounts. Their aim is to emasculate the company, thwart the business plans of its directing minds and generally frustrate the company’s shareholders.”

Arguing that Mr. Saraki has run the Bank by proxy or vicariously through his agents, the statement used the example of Mahmoud Lai Alabi, who, within two months of assuming office as Managing director, had “curiously written off between N9 and N11 billion regarding loans to companies linked to Saraki including Dicetrade, Skyview Properties, etc.”

According to the account, Mr. Alabi is also alleged to have recruited former staffers at Societe Generale Bank as replacement for the appointment of senior management staff of Intercontinental Bank in order to complete the rout.

The statement pointed out that despite Joy Petroleum being barred from operating its accounts in the bank, withdrawals were curiously made therefrom during the period the former Managing Director was incapacitated and even after his death even though he was the sole signatory to the accounts.

One such transactions was a credit transfer of sum of N4,242,935,726.34 (four billion, two hundred and forty two billion, nine hundred and thirty five thousand, seven hundred and twenty six Naira and thirty four kobo) made from the account on the 18th of February, 2010 even after the said Managing Director had died.

Citing other developments concerning the account, the complaint pointed out the following:

• The accounts were closed by one Abdul Adanma, Senator Saraki’s aide;

• A loan sum of N9.7 billion was written off even as the account was closed; and

• A loan obtained by Joy Petroleum Limited was lumped together with loans by Dicetrade Nigeria Limited and Likam Limited even though they are separate entities and had separately obtained loans from the Bank.

The petition also drew attention to what it called a commando-style self-serving interference in the affairs and events of an independent private institution, especially the role of the Central Bank of Nigeria.

“The questionable commonality of interest between Mallam Lamido Sanusi, the Governor of Central Bank and Dr. Saraki finds poetic expression in the reported concurrence of the Central Bank to the writing off of the loans of Dr. Saraki totaling N8.115 billion by his protégé, Mr. Lai Alabi,” the complaint said, pointing out that the loans had been secured with choice properties in Lagos and Abuja.

“Did the Central Bank authorise the writing off of this huge sum of money at a time that the Intercontinental Bank was reportedly in need of a surgical rescue?” the statement asked. “Did the writing off exercise conform with the Central Bank prudential guidelines on matters relevant to the requirement to salvage a supposedly tottering banking institution?”

It stressed that “the undisguised incoherent nature of the selective of application of the expressed guidelines points in the direction of important signposts to the oppositional relationships that peculiarly exist between policy and praxis in our country,” in which policies are clearly formulated and enunciated but abused in their invidious or sanguine application.

“A popular democratic social order devoid of a quixotic creative practice is a sure way in the direction of significant watersheds in the overall development of this beleaguered polity,” the complaint said. “The yearnings of our people for an orderly development of all facets of our national life are not promoted by a desultory, whimsical or irreverent application of rules or guidelines.”

Comments

20 comment(s)

The petition also drew

Submitted by Anonymous (not verified) on January 22, 2013 - 10:03.

ordinate

Submitted by manik (not verified) on November 28, 2012 - 12:20.

It was certainly interesting for me to read that article. Thanx for it. I like such topics and anything that is connected to this matter. I definitely want to read more on that blog soon. checking accounts

Readers delight reading

Submitted by Anonymous (not verified) on August 21, 2012 - 18:01.

Ex-staff of intercontental bank want their entitlement paid. Police IG probe your men who collected 40million naira. Abasalom bukola saraki worships money.just be rich and be a semigod.we want to know the true version of saraki sag.saraki chasllenge them.sarakis are economuc fraud. Is this blackmail? Veiws tell alot.

Shade&her defence

Submitted by Anonymous (not verified) on August 21, 2012 - 17:40.

You are not aware that Akingbola was set up to buy the bank?he backed out of a merger with saraki initially hence he dealt with him..Akingbola is not even aware.priye abandon matthew before he died.moved in with saraki as mistress.we are coming details soon.paul is a fool. We are going to expose him.he is like Abacha's son mohd who colaborated with those who said his father stole in order to have his share.A story for another day.armed robbers your days numbered.

COULD PAUL OBAHOR HAVE KILLED HIS BROTHER MATTEW?

Submitted by whistleblower (not verified) on August 21, 2012 - 16:07.

THERE ARE SPECULATIONS IN THE OBAHOR FAMILY THAT PAUL ALONG WITH A PASTOR NAMED SAM COLLUDED TO USE RELIGION TO GET MATTEW WHO WAS THE CEO OF JOY PETROLEUM AND BREAD WINNER OF HIS IMMEDIATE AND EXTENDED FAMILY. AFTER THE UNTIMELY DEATH OF MATTEW FROM COMPLICATIONS ARISING FROM HIM NIT TAKING HIS DIABETIC DRUGS, RELIABLE SOURCE REVEALED THAT PAUL CHASED THE WIDOW, HIS BROTHER'S WIFE AND KIDS OUT OF THEIR LUXURIOUS HOME IN IKOYI AND EVEN WENT TO THE LEVEL OF FORGING HIS OWN BROTHER'S SIGNATURE. I AM NOT CERTAIN WHAT PART SARAKI PLAYED IN RUNING AND OWNERSHIP OF THE BUSINESS. WE NEED OUR LAW ENFORCEMENT TO INVESTIGATE THE ALLEGED ROLE OF EVERYONE.

Basic law of banking

Submitted by Anonymous (not verified) on August 21, 2012 - 14:38.

since the owner of the account is dead, then the next of kin should have control of account, can we get proof of how Saraki and CBN is interfering in the investigation? the wife of the deceased who was the next of kin has access, wetin concern the brother who wants to inherit his dead brother by crook or false?

soonest all you richers in Nig, get ready to ran..ok

Submitted by AK libya (not verified) on August 21, 2012 - 04:58.

soonest the solution to our problems will soon arrive from heaven and it will land into the hands of the poores and we're going to dealt with u richers, they are the most fraud, rituals and Beast. I hate u all.

Akingbola is now a saint?

Submitted by Shade (not verified) on August 20, 2012 - 23:46.

I know we all hate politicians in Nigeria, but after Akingbola got found guilty in Uk, people are still saying saraki was the cos of his downfall. We need to be honest with ourselves. Let's ask logical questions. A married man died, left his wife in charge of affairs but the younger brother who practically had him killed wants to chance the widow to inherit his brother and the bank refused.

Sanusi& nigerianbanking

Submitted by Anonymous (not verified) on August 20, 2012 - 22:37.

The unfolding story of sanusi is unfolding gradually.read yinka odumakin&tony afejuku.he plotted the downfall of the former md of intercontental bank akingbola to pave way for his godfather eventual purchase of the bank.very soon present md of access will be framed. The act has been perfected.too late .we have their blueprints of schemes very soon we shall unveil them.we allow akingbola to suffer to humble him very proud. ileshaman.

Access House of Fraud!

Submitted by Aig (not verified) on August 20, 2012 - 21:59.

First,they ousted Akingbola and installed Lier Mahmood as the CEO of IBPLC. After so much deceit,Mr Lier handed over IBPLC to the Access Cowboys. Let Saraki,Aig,Sanusi go check history.Nemesis would definitely catch up with you. This Govt that you are benefitting from would soon slide into oblivion.IBPLC would rise again!

think for a minute part 2

Submitted by Anonymous (not verified) on August 20, 2012 - 21:39.

I will agree, IB might have dropped the ball not following through correctly before releasing the loan to the mattew guy. If the petitoners are serious about this the official next of kin should be the one requesting the bank statement not some brother who wants to benefit from his brother's death.

let's think for a minute

Submitted by Anonymous (not verified) on August 20, 2012 - 21:38.

I wish I had contact to the Senator to tell him how to beat this. I worked in Intercontinental Bank (IB) before being sold and I am privy to some of the information, this Joy Petroleum account belongs a Paul Obahor who stopped servicing his account (we later discovered he was sick of chronic diabetics) his wife who was the next of kin did not service the over 9 Billion loan he had, so it was only proper for the funds in his account to be used to offset his loan. A while later, some guy showed up claiming the wife is not the proper next of kin that him Paul Obahor is the proper next of kin. The relationship this has with Saraki is the fact that the same Mattew who owns Joy Petroleum was the one that was managing day to day runing of Saraki's business while he was Governor.

what are the chances that this is a blackmail?

Submitted by Anonymous (not verified) on August 20, 2012 - 21:29.

Wasn't this the same case from 2009 and earlier this year? The petitioner need to come out in the open and take the Senator to a civil court if they truly have a case against him, every now and then, this SAME accusation will come up, different people will come up claiming they are the petitioner, some even claim Saraki owns the company, they also said he stole from this same company, they also said they want to gain access to the bank account of a company they claim he owns. It will be nice if we can get to the buttom of this for once and for all.

Access account

Submitted by Amos (not verified) on August 20, 2012 - 20:44.

Sarakis are economic fraud.

Saraki needs to challenge the suit

Submitted by Anonymous (not verified) on August 20, 2012 - 20:32.

We have heard so many versions of this story, first they said the company belongs to Saraki, 2nd the said he stole from this company. Now they are saying he conived with Central Bank. If I was the guy and I have nothing to hide, I will just sue all of them for libel

A country where anything goes...........

Submitted by Aliyu (not verified) on August 20, 2012 - 20:32.

Just make sure u're rich&influentia l in naija&u av become a semi god who does al d undoables bcos u're a politicians or u held a political of fice, in naija things were done in v iolation wt al d stated laws, norms &values of humanity wt impunity &@ end of it all, d rich smile home wt billions why d poor continue in there regular teeth gnashing pove rty cycle,ds law breakers still drive in bullet proof vehicles&are hail b y d everly prayerful poor dt they d eprive of basic livelihood things w ho wants God 2 perform magic in there lyf 2 become super rich also who everything according 2 there own rule. No wonder pastor baka re says Nigeria is a land of fools ru le by idiots.

ABSALOM BUKOLA SARAKI AGAIN? THE GUY IS MEAN.

Submitted by EYONG EKPO (not verified) on August 20, 2012 - 20:30.

Absalom Bukola Saraki again? He worships money. Once he dealt Olusola Saraki that fatal blow in 2011, he will deal anyone else. He is an associates-beware material. The fear of Bukola is a choice for survival. Ask Gbemi and Olusola. They know better with experience. Have you heard from the old man after the brutal blow of defeat in Kwara?

Police

Submitted by Anonymous (not verified) on August 20, 2012 - 20:09.

The police boss must hear this, suf in ikoyi has concluded its investigation on the matter it is very revealing.however. The sum of forty million naira has exchange hands,probe your men,

SENATE, SAVE OUR SOULS TOO.

Submitted by INTERCONTINENTAL BANK PLC EX-STAFF (not verified) on August 20, 2012 - 19:51.

Dear compatriots, we crave your indulgence to appeal to ACCESS BANK to pay our GRATUITY and full SEVERANCE and other OUTSTANDING benefits. It is over 6 months now, our kids are hungry, our rents are due we have various needs to attend to. The continuous UNLAWFUL withholding of our entitlement is CORRUPTION. We need our rightful benefits to move on with our lives. Ex-staff of INTERCONTINENTAL BANK PLC.

Account frozen by Access Bank

Submitted by Anonymous (not verified) on August 20, 2012 - 19:38.

Na our money dem dey chop so for free of charge (foc) fosa. One day go be one dem go vomit. Pap don chop go pikin don begin him own.