For the first time since the arrest, Sunday night, of business mogul, Otunba Mike Adenuga, the Economic and Financial Crimes Commission (EFCC) yesterday officially disclosed that the arrest has certain international dimensions that might not be made public yet.
A statement issued by the anti-graft agency and signed by its Head, Media and Publicity, Mr. Osita Nwajah, however, stated that no crime has been established against the Globacom chairman yet.
Adenuga was picked up Sunday for questioning by EFCC operatives and was later released over what sources said may not be unconnected with a tranche of funds from the Petroleum Technology Development Fund (PTDF) which his bank, Equitorial Trust Bank (ETB), was alleged to be holding.
Nwajah in the statement insisted only 14 operatives, and not over 40 or 70 as reported, actually visited the Lagos residence of Adenuga on Sunday to invite him, with no damage done to his person or property.
According to the statement, the Commission’s investigation of Adenuga has “certain international dimensions that EFCC may not be in a position to make public at this stage but once the Commission has reached a comfortable point in its inquiry, everything would be made public”.
EFCC, however, emphasised that the Commission’s invitation to and interaction with Adenuga was normal stressing that “No crime has been established against him. He is innocent until proven otherwise. However, the Commission wishes to reiterate that no one is above the law”.
The statement titled The Invitation of Mike Adenuga reads: “There has been a lot of interest generated in the recent interaction between EFCC and Chief Mike Adenuga, Chairman, Globacom and Consolidated Oil.
“The Commission thinks it necessary to clarify that: EFCC visited Chief Adenuga’s home on Sunday, 9th July 2006, only after several invitations to him, over a period of more than three months. He refused to honour the invitations;
“Even at his Victoria Island, Lagos home, for over seven hours, Adenuga, among other evasive tactics employed by his family and staff, refused to see EFCC operatives or allow them entry;
“The 14 operatives (not “over 40” or “over 70” as reported in the media) had no choice than to extract Chief Adenuga in a professional manner, with due respect for his rights as a citizen of Nigeria and in accordance with established rules and regulations. Consequently, no injury was done to his person or damage to his property;
“Chief Adenuga was subsequently taken to our Ikoyi, Lagos offices where he answered questions in relation to EFCC investigations. He was released on bail immediately after;
“The Commission’s investigation of Chief Mike Adenuga has certain international dimensions that EFCC may not be in a position to make public at this stage. But, once the Commission has reached a comfortable point in its inquiry, everything would be made public;
“It must be emphasized however, that EFCC’s invitation to and interaction with Chief Adenuga is normal. No crime has been established against him. He is innocent until proven otherwise. However, the Commission wishes to reiterate that no one is above the law;
“EFCC craves the continued understanding and support of the generality of Nigerians in our collective determined efforts to rid the Nigerian business and governance space of everything criminal and illegal.”
THISDAY had Tuesday reported that Adenuga’s arrest might be connected with ongoing investigations into the activities of the Petroleum Technology Development Fund (PTDF), whose Executive Secretary had also been a guest of the anti-graft agency.
THISDAY had gathered that Adenuga’s arrest might have been in connection with some deposit approvals made into his bank, Equitorial Trust Bank (ETB) by the chairman of the PTDF, who incidentally is Vice President Atiku Abubakar.
Although it is still not clear the role Adenuga played except that ETB provides banking services to PTDF and he is said to be maintaining client confidentiality by not making statements on the account.
A fall-out of the political polarization between President Olusegun Obasanjo and his vice, Atiku Abubakar is that many of Abubakar’s associates have been under investigation by security agencies, in an apparent move to nail him. The logic appears to be that if the Vice President is immune from prosecution, his allies could be held.
To this effect, the Vice President himself through his Media Consultant, Mr. Garba Shehu, Tuesday said there had been several attempts to nail him and some of his friends including former military President Ibrahim Babangida.
PTDF has long been under investigation and Adenuga, a close ally of the Vice President owns a bank that provides financial services to PEF. The dominant feeling in some political circles was that Adenuga might have been caught in a political cross-fire. Some adept watchers of the political scene even said they saw his arrest coming.
The establishment of the PTDF was informed by the realisation that the petroleum industry in Nigeria, which accounts for over 90 per cent of the nation’s foreign exchange earnings and over 80 per cent of the Gross Domestic Product (GDP), had long depended almost wholly on imported technology/equipment and manpower for its activities.
To reverse this trend, government then set up an organ invested with the task of developing highly skilled indigenous manpower that would participate actively in the activities of the industry, thereby overcoming foreign dominance.
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