By Elor Nkereuwem
March 28, 2010 11:33PM

There is a massive hunt for James Ibori, the former governor of Delta State, in connection with recently launched investigations by the Economic and Financial Crimes Commission (EFCC), on his role in the illegal disposal of about 500 million units of Delta State-owned bank shares.

Sources in Abuja, over the weekend, said that Mr. Ibori, who is wanted for questioning over some of his actions while he was governor of the oil rich state from 1999 to 2007, has ‘disappeared’ and has not been seen in the past two weeks since NEXT exclusively reported that a new round of investigations into his activities had been launched.

Looking for him

Efforts to obtain an official position from either Mr. Ibori or the EFCC were unsuccessful at press time. But a source in the commission, who asked not to be named, told NEXT that “EFCC operatives were out looking for him to interrogate him. I think he got wind of it and has disappeared.”

Indeed, according to other sources, Mr. Ibori has cut off communication with all but few associates and relatives. “It is believed that he may be communicating with the Delta State governor, who is related to him,” the source said.

Indeed, Mr. Ibori, who was hitherto very visible in government circles, has suddenly become very scarce. It was not uncommon to find Mr. Ibori in the company of Vincent Ogbulafor, chairman of the People’s Democratic Party (PDP) at the presidential villa, in the era of the Yar’Adua presidency. However, he has not been seen in the State House in recent times.

Fresh charges

Asides the 107 count-charges brought against Mr. Ibori by the EFCC in 2007, the commission is preparing fresh charges against the former governor following a petition signed by some leading citizens of his state.

The latest petition, signed by 10 leading citizens of Delta State headed by a former minister of information, Edwin Clark, includes a demand for a probe of the former governor over the alleged illegal disposal of 528 million shares belonging to Delta State, in Oceanic Bank.

The EFCC responded by launching investigations.

The investigations led to the unravelling of some facts, which have now led to the latest move to interrogate the former governor.

Mr. Ibori allegedly sold off Delta State assets to fund private investments while he was still in office.

“The search has to do with the N44 billion loan which he took from Intercontinental Bank. He used Delta State shares in Oceanic Bank as security for the loan. He later asked the bank to sell off the shares, over 500 million units, to repay the loan,” our source said, adding however that Mr.

Ibori’s disappearance has now stalled the EFCC’s investigations.

Ofcourse. . . .he has no other option than to do willy-willy for the mean-time.

Ibori, Turai and the rest of the cabal will go to jail.

^^^^^^^^^^
he who seeks equity must come with clean hands.

mbulela:

^^^^^^^^^^
he who seeks equity must come with clean hands.

This is the only reason why fighting corruption in Nigeria is a big JOKE. Who is clean among them? Who is not corrupt among them? I think

^^^^^^^^^^^^^^^^^
We need to start this fight from somewhere. Or do you suggest we wait for angels, the White racist who finally abolished slave ownership in America also owned slaves.

Maybe we can work on an amnesty programme for past looters where they can contribute some of the loot to nation building and we can allow them to keep the other part and we now impose new and stricter laws against corruption like death by firing squad if found guilty and loss of all assets both lawfully acquired and corruptly acquired to the state.

I hope i dont get too much bashing for this suggestion.

I love this art of Disappearing. First it was Yar'adua now its Ibori .

when they are serious, they know where to find him.

bigcock:

^^^^^^^^^^^^^^^^^
We need to start this fight from somewhere. Or do you suggest we wait for angels, the White racist who finally abolished slave ownership in America also owned slaves.

Maybe we can work on an amnesty programme for past looters where they can contribute some of the loot to nation building and we can allow them to keep the other part and [b]we now impose new and stricter laws against corruption like death by firing squad if found guilty and loss of all assets both lawfully acquired and corruptly acquired to the state.[/b]I hope i dont get too much bashing for this suggestion.

Nice idea but who will make the law? the same people u want to send to death by firing squad? where have you seen that happen before.

For Goodluck to consolidate on governance, Ibori should be in jail. He sees himself superior to the Acting President, he wants to be next vice president come 2011. He wants to be the highest politician from the south-south at the expense of the incumbent. This is a man with a lot of criminal charges, some still in the court. Its time the Acting President send the leaders of "the Cabal" to gallows for their "sin". This will serve as a deterrent to other. Just like the saying, "Kill the mother spirit and the children will scamper for safety.

Ha ha. . .Ibori. . .

The great Nigerian Serpent. . .

Let's just pray and fast and hope that EFCC finds him (LOL) Typical Nigerian ploy, he is probably in London. Remember how Rufai attended Gani's funeral under the IG's nose

lwkmd!

all of a sudden the dude became a pin in a haystack!