EFCC Probe Details How Senate President Saraki And His Aides Embezzled N3.5B From Paris Club Loan Refunds

Officials of the Economic and Financial Crimes Commission (EFCC) have formally named Senate President Bukola Saraki, a former Managing Director of Heritage Bank, Robert Mbonu, a firm, Melrose General Services Limited, the relationship manager to Mr. Saraki, Kathleen Erhimu, the deputy Chief of Staff to Senator Saraki, Gbenga Peter Makanjuola, as targets of an investigation into the embezzlement of as much as N19 billion that accrued as refunds to state governments that had made excess payments on loans obtained from international lenders, the London and Paris Clubs.

Providing more details of the intricate maneuvers used by Senator Saraki to move funds, the EFCC report noted: "That on the January 4th, 2017, Mbonu through Melrose General Services Company transferred the sum of N248, 500,000 to Caddington Capital Limited belonging to Ms. Oluyemi Braithwaite who transferred same to Hassan Dantani Abubakar's FCMB account, Ashrab Nigeria Limited for the sum of $500,000.