Nigeria Governor's associate flees to Ghana

N44b alleged fraud: Ibori, associate flee to Ghana

•Arrived six days ago by road

A former Delta State Governor, Chief James Onanefe Ibori, who was, two weeks ago, declared wanted by the Nigerian Economic and Financial Crimes Commission (EFCC), is now in Ghana, the Nigerian Compass can authoritatively reveal.

Ibori is in Ghana with one of his close associates, Henry Imashekka, who has also been declared wanted by the EFCC, it was learnt on Saturday.

Ibori was declared wanted by the EFCC in connection with an alleged N44 billion fraud while he was the Delta State governor.

As exclusively reported by the Nigerian Compass two weeks ago, the EFCC has equally launched a manhunt for Ibori for failing to honour the commission’s invitation for interrogation over the alleged stolen N44 billion.

A source in Accra, the capital of Ghana, told the Nigerian Compass that Ibori arrived in the country by road about six days ago.

This was after he had been shielded by militants from arrest by a combined team of policemen, agents of the EFCC and men of the State Security Service (SSS) in Delta State.

He was reportedly whisked to safety by the militants who took him to the creeks.

Sources in Ghana said that Ibori is likely staying in one of the highbrow areas of the Ghanaian capital, Trasaco Valley.

A former Governor of Ekiti State, Mr. Ayo Fayose, a source said, also has a house in the area.

It was gathered that one of Ibori’s close female associates, whose name could not be established as at press time on Saturday, joined him in Ghana four days ago.

Ibori and some of his associates, including Imashekka, were accused by the EFCC of using the funds of the Delta State Government to buy over Ascot Offshore Nigeria Limited.

The commission allegedly uncovered how N528.010 million worth of shares of the Delta State Government in Oceanic Bank was used to guarantee over the N44 billion granted Ascot Offshore Nigeria Limited by Intercontinental Bank Plc. when Ibori was the governor of Delta State.

Ascot Offshore Nigeria Limited is one of the 205 debtors that owe five banks in the country about N747 billion.

Directors of Ascot have been identified by the Central Bank of Nigeria (CBN) to include Joey Chuma Obue, Samuel Aikhionbare, Imashekka and Emmanuel Nwachukwu.

The failure of Ascot to repay the debt owed Intercontinental Bank Plc. was one of the reasons that led to the forced exit of the bank’s Chief Executive Officer, Chief Erastus Akingbola, who has also fled the country.

Ascot took over Willbros Nigeria Limited, which belongs to Willbros Group Incorporated.

This followed the closure of the Nigerian operations of Willbros Nigeria Limited in 2007, after the Department of Justice of the United States of America fined it heavily over a $6 million bribery scandal, which implicated Willbros officials as well as some Nigerian politicians.

But the management of Ascot Offshore Nigeria Limited has denied the allegations against it and Ibori.

The EFCC, acting on petitions written by a former Federal Minister, Chief Edwin Clark, claimed that Ibori committed a crime by allegedly selling the state government’s shares to pay for the loan obtained by a private company.

While acknowledging that the Delta State Government “used a portion of its shares in Oceanic Bank Int. Plc. for the transaction,” Ascot, however, said, “The portion of Oceanic Bank shares used to part-secure the loan was never sold to pay off the loan obtained by Ascot.”

The company insisted that “the Delta State Government, Intercontinental Bank Plc. and Ascot have confirmed that the shares are still in place. This fact can easily be verified through the CSCS (Central Securities Clearing System).”

The company emphasised that it emerged winners in a “very keenly contested bid. The purchase price was approximately $150m. As in any leveraged buy-out, Ascot had to source for funds to buy the company. It approached Intercontinental Bank for a facility.”

The Ascot management further explained that the Delta State Government became involved in the purchase of Wilbros when the company divested its holdings in Nigeria four years ago due to the crisis in the Niger Delta.

It added, “Because of the political imperatives that militated against the success of Wilbros’ operations in the region, it was considered imperative to involve the governments of host communities in such a transaction. This was in line with the agitation of the people of the Niger Delta region who demanded a stake in corporations operating in the oil industry in the Niger Delta.

“Ascot invited state governments in the Niger Delta region to participate in the acquisition of Wilbros. Only the Government of Delta State responded to this invitation.”