Monday, 11 December 2017

EFCC Uncovers N905m In Suspected Slush Account


The Economic and Financial Crimes Commission (EFCC) has frozen N905, 941,696.87 in an account linked to Rivlink International. It was gathered that Rivlink International is a sole proprietorship firm, whose owner is dead.


The cash inflows was allegedly from the Rivers State Environmental Sanitation Authority. One man identified as Kenneth Koroma had unsuccessful attempts to withdraw the money.“He, however, appointed Mr. Kenneth Koroma as the sole signatory to the account for the purpose of money laundering,” a source said.


"Covert intelligence revealed that the sole proprietor, Christian Robinson, is deceased and the trustee, Kenneth Koroma, has been making frantic efforts to withdraw the funds, which had been on fixed deposit.“Sometimes in June 2017, Koroma wrote the bank requesting it to liquidate the fixed deposit and transfer the balance to an account number 0037907856 of a company, OLF Enterprise, also operated by him.



"Unknown to Koroma, the proprietor had changed him as a signatory to Rivlink International’s account before he died.“The bank insisted that it could not release the N905m to Koroma because he had ceased to be the sole signatory to the account of Rivlink International. Relevant documents were shown to him on how the owner of the company effected the change of signatory.”



Another source noted that “Further inquiry to ascertain the legitimacy or otherwise of the said funds is in progress.“However, the EFCC has obtained a Freeze Order from the court pending the outcome of ongoing investigation"“Certainly, if we were able to establish that the cash was a product of money laundering from the coffers of Rivers State Government, it will be forfeited and we may have to recover it for the state.”


Source: The Nation


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