Fraud: EFCC to charge former Minister of Power over alleged money laundering

The Former Minister of Power, Saleh Mamman indicted for N33.8 billion will on Thursday,  be formally charged  to Court by Economic and Financial Crimes Commission (EFCC) on a 12-Count charge of conspiracy and fraud.

Mamman, who served as Minister of Power from 2019 to 2022, is accused of conspiring with other officials and private companies to launder billions of naira intended for the Mambilla and Zungeru Hydroelectric Power Plant projects.

The EFCC filed charges that  include conspiracy to commit money laundering, cash payments exceeding the lawful limit, and possession of proceeds of criminal conduct.

Mamman is accused of conspiring to indirectly convert a total sum of N33,804,830,503.73, which should have been known to be part of the proceeds of an unlawful act.

The Commission also alleged that Mamman made a cash payment of US$655,700.00 without going through a financial institution and used N20,000,000.00 as rent for a one-bedroom apartment in Sammy Court Resort.

A reliable source said Mamman allegedly conspired with other officials and private companies to indirectly convert a total sum of N33,804,830,503.73, which reasonably ought to have been known to be part of the proceeds of an unlawful act, specifically criminal breach of trust in relation to the funds released for the Mambilla and Zungeru Hydroelectric Power Plant projects by the Federal Government of Nigeria.

The source further disclosed that Mamman is scheduled to be arraigned before Justice Zainab Abubakar of the Federal High Court, Abuja, on Thursday, facing potential prison time if convicted.

Rotimi Oyedepo, SAN, is part of the EFCC's prosecution team, led by Adeyinka Olumide-Fusika, SAN, which is expected to present evidence and witnesses to prove the allegations against Mamman.

The case is expected to spark widespread interest, as it is one of the largest fraud cases involving a former Government's official in recent Nigerian history.