EFCC arraigns REA director, Suleiman Garba Bulkwang over alleged N223 million fraud 

The Financial and Monetary Crimes Fee (EFCC) has arraigned Suleiman Garba Bulkwang, Director of Human Assets Administration on the Rural Electrification Company (REA), earlier than the Federal Excessive Courtroom in Abuja over a five-count cost of alleged fraud and cash laundering amounting to N223,412,909.

This was disclosed in an announcement by the EFCC on its official x web page.

The EFCC accused Bulkwang of diverting public funds and fascinating in cash laundering by consultants and shell firms.

One of many expenses alleges that Bulkwang directed Umaefulem Donatus Chibueze, Managing Director of Cees Help Assets and Brainstask Worth Assets, to switch N138,123,969 out of a complete cost of N279,330,000 obtained from REA.

The cost states: 

“That you just, Suleiman Garba Bulkwang, whereas being the Director of Human Assets Administration of the Rural Electrification Company, REA, throughout the jurisdiction of this Honourable Courtroom, did counsel one Umaefulem Donatus Chibueze, the Managing Director of Cees Help Assets and Brainstask Worth Assets, to switch the sum of N138,123,969 (One Hundred and Thirty-Eight Million, One Hundred and Twenty-Three Thousand, 9 Hundred and Sixty-9 Naira), understanding that the mentioned sum constituted proceeds of illegal exercise. You thereby dedicated an offence opposite to Part 21(a) of the Cash Laundering Prevention and Prohibition Act 2022 and punishable below Part 18(3) of the identical Act.” 

One other cost revealed that N45,000,000 was not directly laundered by a number of firms linked to the defendant.

Courtroom proceedings 

Bulkwang pleaded “not responsible” to all expenses. Prosecution counsel, Ekele Iheanacho, SAN, requested a trial date and urged the courtroom to remand the defendant in custody, citing the absence of protection counsel.

Justice Joyce Abdulmalik granted the request and adjourned the case to February 3, 2025, for the listening to of the defendant’s bail utility.

In the meantime, Bulkwang was ordered to be remanded on the Kuje Correctional Heart.

What it’s best to know 

• Nairametrics reported that Justice Mojisola Dada of the Ikeja Particular Offences Courtroom has sentenced Fatuyi Yemi Philips, Chairman of NOGASA, to 21 years in jail for misappropriating N43.5 million by his firm, Oceanview Oil and Gasoline Restricted.
• The crime was carried out by his firm, Oceanview Oil and Gasoline Restricted, the fraudulent scheme concerned a false promise to promote $98,870 in change for the N43.5 million collected from the complainants, Elochukwu Okoye and Elebana Distinctive Ventures Nigeria Restricted
• The EFCC charged Philips with acquiring funds below false pretences and theft, leading to concurrent sentences of 14 and seven years. The courtroom additionally fined the corporate N750,000 and ordered restitution of $90,202 or its Naira equal to the complainants.