Akwa Savings and Loans Limited Drags NDDC MD, Nsima Ekere To EFCC Over N188m Fraud

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A Nigerian bank has dragged the Managing Director of the Niger Delta Development Commission, NDDC, Nsima Ekere, to the Economic and Financial Crimes Commission, EFCC, over a financial scandal, demanding a refund of N188 million and prosecution for financial misdeeds.

In its petition against Ekere, the bank alleged that the fraud dates back to when Ekere was the Deputy Governor of Akwa Ibom State between May 2011 and October 2012, before unceremoniously resigning to avoid being impeached.

According to the bank, Ekere illegally withdrew money from nine bank accounts belonging to the state government and diverted them to his family company.

The petition, dated October 13, 2017, was signed by the Company Secretary of Akwa Savings and Loans Limited, Abasiama Idiong, “a bank incorporated under the laws of the Federal Republic of Nigeria, having its Head Office in Uyo, Akwa Ibom State”.

The petition read in part: “We hereby respectfully report to your office financial crimes committed by the above listed individuals (Nsima Udo Ekere, Idorenyin Udo Ekere, Dr. Aniekan Udo Ekere and Utibe Idorenyin Ekere), which has unlawfully deprived the Bank of the huge sum of N118 million Naira, illegally and fraudulently obtained from Akwa Ibom State Government accounts with the bank,” the petition read

In the facts of the matter, the petitioners went further to state, “Mr. Nsima Ekere, the present managing director of the Niger Delta Development Commission (NDDC) between May, 2011 and 2012 served as the deputy governor of Akwa Ibom State.

“He used his office as deputy governor to defraud the state government of the sum of N118 million by unlawfully and illegally transferring monies standing to the credit of the state government from nine (9) separate accounts to a private company owned by his family members named TECHSEL PRODUCTS LIMITED,

“The fraud was committed when Mr. Nsima Ekere, without any authorisation or approval:

“(a) Unlawfully closed the various Accounts of the State Government (particulars of which are supplied below) and transferred the credit balances therein to the private account of his family company (Techsel Products Limited held with Akwa Savings and Loans Limited with Account No: 0101-102-0013130.

“(b) Unlawfully transferring the sum of 118 million from the State Government Account called Raffia City Account held with Akwa Savings and Loans Ltd to the account of the same private family company-Techsel Products Limited and withdrawing same for his personal use.

“In a detailed particulars of fraud, the petitioners listed the “unlawful and fraudulent transfers of 100 million Naira from 9 bank accounts of the Akwa Ibom State Government Accounts with Akwa Savings and Loans Ltd to Techsel Products Limited,” part of the petition stated.

The petitioners also maintained that there was a further “unlawful and fraudulent transfer of the sum of 18 million from the State Government Account (Raffia City Account) to Techsel Products Limited Account (0101-102-0013130). Both accounts are with Akwa Savings and Loans Limited.

Nsima-Ekere - Akwa Savings and Loans Limited Drags NDDC MD, Nsima Ekere To EFCC Over N188m Fraud

Nsima Ekere

The document also details that “the N100 million was withdrawn from Techsel Products Limited Account on July 23, 2013 with Voucher number 268 and went further to also state that “the N18 million was withdrawn from Techsel Products Limited Account on January 13, 2014 with Voucher number 127”.

“These facts” the petitioners stated “can be verified from Techsel Products Limited statement of Accounts with Akwa Savings and Loans Ltd.

Throwing more light on the company profile of Techsel, the petitioner stated that “Techsel Products Limited is a private company with Registration No. RC: 400093. It was incorporated on March 14, 2001 and is 100 percent owned by the Ekere family. The other directors of the company are Idorenyin Udo Ekere, Dr. Aniekan Udo Ekere, and Utibe Idorenyin Ekere.

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