SaharaReporters on Friday learnt that the EFCC through Bawa facilitated freedom for the former Chairman of the defunct Skye Bank (now Polaris Bank), Tunde Ayeni, after entering into a secret arrangement termed a plea bargain.
One of the corruption allegations against the suspended Chairman of Nigeria’s anti-corruption body, the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has come to light.
SaharaReporters on Friday learnt that the EFCC through Bawa facilitated freedom for the former Chairman of the defunct Skye Bank (now Polaris Bank), Tunde Ayeni, after entering into a secret arrangement termed a plea bargain.
In July 2022, the EFCC surprisingly withdrew the N25.4 billion corruption case it filed against Ayeni and the Managing Director of the defunct bank, Timothy Oguntayo, after entering into a secret settlement with the businessmen that reportedly involved the forfeiture of N15 billion in cash and assets.
The anti-corruption body under the leadership of Ibrahim Magu, on March 7, 2019 arraigned Ayeni, Oguntayo and two other companies before Justice Ijeoma Ojukwu of a Federal High Court, Abuja on 10 charges bordering on money laundering to the tune of N25.4 billion.
One of the counts reads: “That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc, between the 1st of January, 2014 and 31st December, 2014 at Abuja within the jurisdiction of this honourable court did commit an offence, to wit: converting the aggregate sum of N17,415,080,000 taken in cash from defunct Skye Bank Plc Suspense Account and delivered to you by the staff of the defunct Skye Bank Plc, which money you reasonably ought to have known forms part of the proceeds of an unlawful act, to wit: fraud and thereby committed an offence contrary to and punishable under Section 15(2)(b) and (3) of the Money Laundering (Prohibition) Act, 2011 (as amended).”
However, under the leadership of Bawa, Ayeni was able to walk free even after defaulting on the agreement in the plea bargain that he would pay a fine of N11 billion and return the funds he was accused of stealing.
Sources told SaharaReporters on Friday that Bawa facilitated the smooth transition of Ayeni from an alleged criminal to a free man because he (Ayeni) fronted for the suspended EFCC chairman.
“Tunde Ayeni entered a plea bargain with the EFCC and according to the agreement, he was to pay a fine of N11 billion and return the money.
“But he did not pay the fine of N11 billion nor return the money as agreed in the plea bargain.
“Still his charges were withdrawn in the Federal High Court in Abuja. He is a free man now because he is a front for the suspended EFCC chairman,” one of the sources said.
President Bola Tinubu Wednesday suspended Bawa from office indefinitely.
According to a release from the presidency on Wednesday, Bawa’s suspension is “to allow for proper investigation into his conduct while in office. This follows weighty allegation of abuse of office leveled against him.
“Mr Bawa has been directed to immediately hand over the affairs of his office to the Director, Operations in the commission, who will oversee the affairs of the Office of the Chairman pending the conclusion of investigation.”
Bawa’s suspension came days after Tinubu suspended the Central Bank Governor, Mr Godwin Emefiele, from office.
BACKGROUND
In November 2016, SaharaReporters reported how the EFCC arrested and detained Ayeni over allegations that he bribed a former minister of the Federal Capital Territory (FCT), Bala Mohammed, to acquire 54 plots of land in Abuja, Nigeria’s capital city.
Two EFCC sources told SaharaReporters that Mr. Ayeni was arrested and detained because he was initially uncooperative.
One of our sources added that Mr. Ayeni was also being investigated for playing roles in several other deals involving former First Lady Patience Jonathan and a former head of state, Abdulsalami Abubakar.
On March 6, 2019, the EFCC arraigned Ayeni before Justice Valentine Ashi of a Federal Capital Territory High Court, Apo on four counts bordering on criminal breach of trust to the tune of N4,597,500,000.
He was arraigned along with Oguntayo, for allegedly conspiring at different times to fraudulently divert depositors’ funds domiciled at Skye Bank Plc to personal use.
On Thursday, SaharaReporters exclusively reported that Emefiele, the suspended governor of the Central Bank of Nigeria, had identified Bawa as an accomplice in the Naira redesign scam that rocked the country some months ago.
Bawa and Emefiele are being detained by the country’s secret police, the Department of State Services.
SaharaReporters on Wednesday night reported that the DSS invited Bawa to its headquarters at about 9:02 pm.
He was thereafter grilled by the operatives of the secret police.
This comes hours after he was suspended indefinitely by President Tinubu.
Bawa’s invitation and grilling by the DSS came days after Emefiele was arrested and flown from Lagos to Abuja to also face interrogations over alleged corruption and abuse of office.
SaharaReporters learnt that Emefiele and Bawa – both undergoing interrogation – were being quizzed on sundry issues including the Naira redesign scam.
On November 23, 2022, then-President Muhammadu Buhari alongside Emefiele unveiled new naira notes in denominations of N200, N500 and N1,000. Emefiele insisted that the old notes would cease to be legal tender from January 31, 2023.
Addressing journalists after the event, Emefiele insisted that the move was not targeted at anyone as there were speculations that the move was pushed by the cabal in the Presidency and targeted at preventing Bola Tinubu, then-presidential candidate of the ruling All Progressives Congress from winning the February 25, 2023 election.
The policy caused Nigerians untold hardship due to the scarcity of naira notes with the CBN unable to meet the demand for new notes. The policy led to a cash crisis and long queues at banks and ATMs.
“Emefiele who is currently cooling his feet in the cell of the DSS is the reason why the EFCC chairman has been detained overnight. Emefiele who is cooperating with the DSS claimed that Bawa was the one who raised a memo to former President Muhammadu Buhari, asking that the Naira should be redesigned to stem money laundering during the 2023 election,” a top source revealed.
“Bawa confronted him that he (Emefiele) and the former Attorney-General of the Federation, Malami were the ones that came to him to raise the memo because they suspected Tinubu had warehouses stuffed with naira notes,” the source added.