Monday, November 7, 2016

EFCC Freezes Bola Shagaya’s N500m Account Connected to Patience Jonathan

The Economic and Financial Crimes Commission (EFCC) has frozen a Unity Bank with a balance of N500m belonging to top Nigerian Socialite Mrs. Bola Shagaya, a businesswoman described by Forbes Magazine as one of the wealthiest in Africa.

Shagaya is the founder and Chief Executive Officer of Bolmus Group International – a diversified Nigerian conglomerate with interests in oil, real estate, banking, communications and photography.
The freezing of her account was as a result of her links to Dame Patience Jonathan, the wife of former President Goodluck Jonathan.

According to an EFCC source, “When we were investigating Patience and looking into her accounts, we discovered that Bola Shagaya had been making huge and regular payments into her (Patience’s) bank account.

We then discovered that the monies were kickbacks. The Ministry of Trade and Investment gave suspicious commission to Shagaya’s company on every crude oil sent abroad. The commission was put in an account for Bola Shagaya. The money will then go to Patience’s account. So we started investigating her.

We were able to trace the N500m to her account at Unity Bank. So, we placed a ‘No Debit Order’ on the account.

When she heard about the restriction, she ran down to the bank to stop the order from being carried out. We then called the bank to let them know that doing such would amount to a criminal conspiracy. At that point, she had no choice.