The Economic and Financial Crimes Commission (EFCC) on Monday told a Lagos State High Court in Ikeja how Vincent Udoye, who is standing trial alongside a former Director General of Maritime Administration and Safety Agency, Patrick Akpobolokemi, allegedly diverted part of N745m belonging to NIMASA into investments in Forever Living Products.
Chukwuma Orji, an investigative officer with the EFCC said Udoye also used part of the money on his family.
Other defendants are; Ezekiel Agaba, Ekene Nwakuche, Governor Juan, Adegboyega Olopoenia and Gama Marine Nigeria Limited.
Orji said Nwukuche and Juan operated a Zenith Bank account for a company known as ArrowWorld Consulting, which was allegedly used to divert money from NIMASA.
According to Orji, the defendants used a NIMASA scheme VIMSAT to transfer the money, totalling about N816m to a Zenith Bank account from where it was split into other accounts.
He further revealed that Arrow World received N230m in the first tranche and later also received another N498m in the second tranche, then N17m, all from the VIMSAT account.
“Investigation further revealed the Zenith Bank account operated by Nwakuche for Arrow World Consulting was operated under a pseudonym, Phillip Emesike, by Nwakuche, while Juan also used another pseudonym, Udoh Mmakok.
“Under interrogation, Nwakuche confessed that he did use the pseudo name to operate the Zenith Bank account. He even went as far as demonstrating how he signed with ficticious name,” Orji said.
“The Gama Marine account had just a balance of N3,000 when it was opened, but it had a balance of N67m after the cash inflow from NIMASA.
“On the 10th of February 2015, there was an inflow of N10m five times into Gama Marine account. Part of the money was fixed then thereafter liquidated,” Orji added.
Justice Adebiyi adjourned the matter till July 11 for continuation of trial.