It is hard to keep up with this anti-corruption war that is raging across the country. One day it is public officials and recovery of siphoned funds, the next, it is the illegal raid of judges’ houses where millions in cash are allegedly stashed.
Today, the Economic and Financial Crimes Commission has declared Mr. Goodie Ibru wanted on the allegation of money laundering and capital market fraud.
A statement by the Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, Ibru declares Mr. Ibru wanted for alleged money laundering. The statement reads: “The public is hereby notified that Goodie Minabo Ibru is wanted by the EFCC in connection with a case of conspiracy, capital market fraud, stealing, diversion of funds and money laundering.
The allegations are in connection with a shares crisis raging at the Ikeja Hotels PLC , owners of Sheraton, Federal Palace and Capital Hotels in Lagos and Abuja. According to the EFCC, Mr. Goodie Ibru diverted millions of Naira and company assets to his personal use.
Family Feud
In 2011, Maiden Alex-Ibru had raised similar allegations against Mr. Goodie Ibru, older brother of the late Alex Ibru, founder of Guardian Newspapers. According to her sometime in June 2011, before her husband died, he discovered several acts of mismanagement of the company and financial misconduct by Mr. Goodie Ibru, whereupon he, as a director of Ikeja Hotel Plc, requested that Mr. Goodie Ibru resigned as Chairman. At the time, Goodie Ibru had been Chairman of the company for 27 years.
Mr. Goodie Ibru apparently refused to resign because by January 2015, the shareholders of Ikeja Hotels Plc yesterday voted to kick out its chairman Mr Goodie Ibru after an Extra-Ordinary General meeting held earlier. The company had been in internal turmoil for months at the time and even its share price had been affected.
According to reports, there were two factions in the company jostling for control of the company. Ms Grace Ibru and Mabel Ibru had obtained a restraining order against Mrs Maiden Ibru, Alurum Investment Ltd, OMA Investment Ltd, Dadifol Ltd, RFC Ltd from holding the Extra Ordinary meeting back in December 9 2014.
The meetinh had to be held in front of the hotel as the shareholders had been locked out.
EFCC involvement
The involvement of the anti-graft agency in this matter dates back to August 2015, when the Economic and Financial Crimes Commission (EFCC) first filed a criminal charge against Goodie Minabo Ibru.
In that charge filed before the Lagos High Court , the commission accused Goodie Ibru, of a N1.3 billion fraud. He was charged alongside three corporate organisations – Associated Ventures International Limited, IHL Services Limited and Clearview Investment Limited, for allegedly conspiring to fraudulently steal various sums belonging to Ikeja Hotels Plc. The crime was allegedly committed between 2010 and 2015.
Specifically, the EFCC alleged that Goodie and the three companies, between January and December 2010, conspired together to steal the sum of N867,700,900 property of Ikeja Hotels Plc.
In addition, EFCC alleged that between June and October 2010, within Lagos judicial division, Ibru and the corporate organisations conspired together to fraudulently convert the sum of N55.1 million, property of Ikeja Hotels, to personal use.
The prosecution alleged further that the accused persons used another company, Sherwood Limited as conduct pipe to fraudulently siphon N55 million from Ikeja Hotels.
The four defendants were also alleged to have fraudulently received a sum of £10,075 through Sherwood Nigeria Limited, as profit due to Ikeja Hotels Plc.
It is not clear how far the EFCC has gone with that matter and what the status is but this new declaration is likely to be in connection with the allegations in that matter.
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