You are a fraudster, come and clear your name – EFCC to Obaseki

The Economic and Financial Crimes Commission (EFCC) is investigating a fraud petition against Edo APC gubernatorial candidate, Mr. Godwin Obaseki, whose suspected money-laundering and tax evading company, KCA-Deutag Nigeria Ltd, has been accused of defrauding the family of late Chief Humphrey Irikefe Idisi of Delta State to the tune of five billion, five hundred and seventy million, nine hundred and seventy million, nine hundred and fifty thousand naira (N5,570,950,000) only.

The two other directors of the company have been arrested by the EFCC and their statements obtained. They were granted bail. Mr. Obaseki is yet to be arrested but he has been reaching out to the family of the victim seeking for settlement. But the EFCC is more concerned about the criminal offence of tax evasion, fraud and criminal conversion.

According to the petitioners, the EFCC would be inviting Mr Obaseki this week to clear his name of this accusation. The co-directors of the suspicious company belonging to Mr Obaseki are Joachim Ostermeier and Mr Manoj Raghavan Vadakkara, both of them are foreigners.

In a petition dated May 31st 2016, signed by Barr F.S.S Ojealaro, solicitor to the estate of late Chief H.I Idisi, the family of the late Chief Humphrey I. Idisi asked the EFCC to “cause proper and professional investigations into this matter.”

Below is a transcript of the petition to the EFCC

Evidence of Petition to the EFCC
Evidence of Petition to the EFCC
“It is our brief that on the 30th of July, 2002, KCA-Deutag Nigeria Ltd entered into a Drilling/work over contractual Agreement with late chief H.I Idisi for which the consideration accruing to chief Idisi was percentaged-commission on all the day rates earned by each of the 6 rigs of the former which rigs are sequentially described in order of capacities as T-26, T-6, T-43, T-57, T-76 and T-103 respectively.

This contract was reviewed by the parties on the 29th day of May, 2008 with improvements on the entitlements of late Chief H.I Idisi putting his commission on each of the rigs at 3.5% of the day rates earnings.

It is further our brief that, Chief H.I Idisi died in 2009 and since his demise, the management of KCA-Deutag Nigeria Limited have not deem it fit to forward his entitlements under the existing agreement to the Administrators of his estate. The company’s management has been indifferent to fulfilling their obligations in manner that can reasonably and clearly be interpreted as:

Criminal misappropriation/embezzlement of the said money by KCA-Deutag to the Estate of late Chief Humphrey Idisi.
Clear and dishonest attempt to circumvent the local content Act provisions. The management had an arrangement of succession with late Chief Idisi to have somebody named by him or his legal representatives to succeed him as chairman of the company should death, health or other supervening circumstances makes him not to continue in that capacity. The position occupied by late Chief Humphrey Idisi has not been filled in accordance with the agreement. Note that Chief Idisi occupied that provision pursuant to the indigenization policy which are re-echoed under the Nigeria local content Act.
The Estate of late Chief Idisi has no current knowledge of the financial dealings and status of KCA-Deutag Nigeria Limited as it should through receipts of updated Audit reports.”

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