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Nairaland Forum / Nairaland / General / PHCN Scam: Jonathan’s Cousin Not Part Of N27 Billion Scam – Engineering Firm (371 Views)
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PHCN Scam: Jonathan’s Cousin Not Part Of N27 Billion Scam – Engineering Firm by theJournalng(m): 11:43am On Jan 04, 2018 |
The Managing Director of Kakatar Construction and Engineering Limited, Azibaola Robert are not involved in any scam involving the diversion of monies meant to settle insurance premium of sacked defunct Power Holding Company of Nigeria (PHCN) workers, Mr Austin Ekeinde, the company’s spokesman said. He clarified the issue following allegations that Kakatar CE Limited was part of an alleged diversion of insurance premium payments of PHCN workers. Mr Azibaola Robert is a cousin of the former President Goodluck Jonathan. According to report, a sworn affidavit for forfeiture order filed at the High Court by an officer of the Economic and Financial Crimes Commission (EFCC) claimed that his company, Kakatar CE, partaked in illegal payments of PHCN workers which the company disputed. Mr Ekeinde while speaking with reporters in Abuja said that ‘An affidavit issued to him by an EFCC officer for a forfeiture order clearly misinterpreted the facts. The obvious fact is that Kakatar CE took a N2.5 billion facility from Bestworth Insurance Brokers Limited to fund a Federal Government contract we won to provide infrastructure for Kyami District, Abuja. He said that it was on due to the fact of documentary evidence the EFCC requested that the facility be repaid to it to enable it recoup the payment to Bestworth. It was due to the fact that we commenced repayment through the EFFC to Besthworth. This does not relate to the issue of scam or fraud in this matter. Kakatar CE on December 12, 2014 won a contract to provide engineering infrastructure for Kyami District which we were required to move to site to commence work immediately. We were unable to secure a favourable credit facility from any bank, we were offered help by Bestworth Insurance to provide us a project execution facility with mutually agreed terms upon which we moved to site immediately. It’s quite unfortunate that the Federal Government has been unable to pay it’s statutory mobilization fee of over N7.5 billion due to Kakatar CE. Sometime last year, EFCC informed us that they are investigating Bestworth for alleged diversion of insurance premiums of PHCN workers, they also invited us. That was when our N2.5 billion facility became an issue. There is not a law that says a corporate organization cannot take a facility from another corporate organization. Because of the documentary evidence which the EFCC requested that the facility be repaid to it to enable it reclaim the payment to Bestworth, this does not have anything to do with the scm or fraud in that case. source: journalng.com https://journalng.com/2018/01/04/phcn-scam-jonathans-cousin-not-part-n27-billion-scam-engineering-firm/ |
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