Cecilia Ibru, Former CEO of Oceanic Bank Jailed For Bank Fraud
- Details
- Category: Law, Crime & Judiciary
- Published on Friday, 08 October 2010 21:59
- Written by Admin
- Hits: 7204
Unearth: Over N1 trillion Assets Of Cecilia Ibru
Dr. Mrs. Cecilia Ibru, a deaconess and the former CEO/GMD of Oceanic Bank PLC was this morning slammed with a 18 month imprisonment in a plea bargaining arraignment that will keep her in jail for 6 months. She will also forfeit over N150 billion naira in assets and cash.
The former managing director pleaded guilty and was convicted of 3 counts of bank and securities fraud by a federal high court in Ikoyi, Lagos, presided over by Justice Dan Abutu.
The judge said Mrs. Ibru will not get one month credit for time already spent in the custody of Economic and Financial Crimes Commission (EFCC) during her arrest and interrogation. Her six months jail time would run concurrently. She was convicted on three counts of bank and security fraud.
As managing director of Oceanic Bank, Mrs. Ibru was alleged to have granted credit facilities to the tune of N747 billion naira with more than half going to her family and proxies.
During the course of investigation, EFCC unearthed assets in excess of a trillion Naira ($6.5billion) traceable to Mrs. Ibru.
Through what EFCC sources referred to as a maze of investments, the amazon of the Ibru family floated several companies that bought heavy shares in blue chip businesses, including her former bank. Such companies include
Another company traced to her, Velvox, bought over 13 million shares in Oando (13, 200,000) and other shares put at 388 million. Yet another company, Enifor, bought 600 million shares in BGL Plc.
The list continues. Yet another company believed to be owned by her, Prisky Gold bought 48.8 million shares in Access Bank Plc, over eight million (8,140,500) in Dangote Flour, over 12 million (12,480,000) in Dangote Sugar Refinery and 12.5 million in Fidelity Bank.
The others by Prisky Gold are over 27 million shares (27,434,791) in First Bank; more than 25 million (25,316,400) in Japaul Oil; 10, 280,000 in Zenith Bank and 200 million shares in Transcorp Plc. Her Africa Lloyd bought another set of shares well above 400 million (431,201,702) in her Oceanic Bank.
The properties traced to her in the Upper Marlboro area of
Mrs. Ibru vast assets throughout the world and some of the properties at stake include:
1. Good Shepherd House, IPM Avenue , Opp Secretariat, Alausa, Ikeja, Lagos (registered in the name of Ogekpo Estate Managers)
2. Residential block with 19 apartments on 34, Bourdillon Road , Ikoyi (registered in the name of Dilivent International Limited).
3. 20 Oyinkan Abayomi Street, Victoria Island (remainder of lease or tenancy upto 2017).
4. 57 Bourdillon Road , Ikoyi.
5. 5A George Street , Ikoyi, (registered in the name of Michaelangelo Properties Limited),
6. 5B George Street , Ikoyi, (registered in the name of Michaelangelo Properties Limited).
7. 4A Iru Close, Ikoyi, (registered in the name of Michaelangelo Properties Limited).
8. 4B Iru Close, Ikoyi, (registered in the name of Michaelangelo Properties Limited).
9. 16 Glover Road , Ikoyi (registered in the name of Michaelangelo Properties Limited).
10. 35 Cooper Road , Ikoyi, (registered in the name of Michaelangelo Properties Limited).
11. Property situated at 3 Okotie-Eboh, SW Ikoyi. 12. 35B Isale Eko Avenue , Dolphin Estate, Ikoyi.
13. 38A Isale Eko Avenue , Dolphin Estate, Ikoyi (registered in the name of Meeky Enterprises Limited).
14. 38B Isale Eko Avenue , Dolphin Estate, Ikoyi (registered in the name of Aleksander Stankov).
15. Multiple storey multiple user block of flats under construction 1st Avenue , Banana Island , Ikoyi, Lagos , (with beneficial interest therein purchased from the developer Ibalex).
16. 226, Awolowo Road , Ikoyi, Lagos (registered in the name of Ogekpo Estate Managers).
17. 182, Awolowo Road , Ikoyi, Lagos , (registered in the name of Ogekpo Estate Managers)
18. 12-storey Tower on one hectare of land at Ozumba Mbadiwe Water Front, Victoria Island .
19. 5, Adeola Odeku Street, Victoria Island, Lagos (registered in the name of Casi Properties & Investment Ltd).
20. 18A, Adetokubo Ademola Street , Victoria Island, Lagos (registered in the name of Casi Properties & Investment Ltd).
21. 270, Ozumba Mbadiwe , Victoria Island, Lagos (registered in the name of Casi Properties & Investment Ltd)
22. 270, Ozumba Mbadiwe , Victoria Island, Lagos (registered in the name of Ogekpo Estate Managers Limited).
23. 15,000 square metres of land at Okunade Water Front, Lekki Peninsula .
24. 7,000 square metres of land at Okunade Water Front, Lekki Peninsula - (registered in the name of Melake Properties Limited).
25. 8,000 square metres of land at Okunade Water Front, Lekki Peninsula - (registered in the name of (Casi Properties Limited). 26. 1,000,000 square metres of land in Lekki.
27. 101 hectares of land along Lekki Expressway behind Chevron Nigeria .
28. 103 hectares of land bought from Dom Gas
29. Plot 5, Igbo-Efon, Off Lekki/Ajah Expressway, Victoria Island, Lagos by 1004 (registered in the name of Casi Properties & Investment Ltd)
30. Block 6, Flat 1 &2, Femi Okunnu H/Scheme Phase IV- Lekki (registered in the name of Oceanic Homes Savings & Loans Ltd)
31. One storey building at 50 Marina , Lagos .
32. 10 storey building at 60 Marina , Lagos .
33. 60, Marine View, Apongbon, Marina , Lagos (registered in the name of Dele Oye & Associates)
34. 10, Sobo Arobidu Street , Ikeja, GRA (registered in the name of Jeedab Fibre Limited).
35. Property at 10A Sobo Arobiodu Street , Ikeja (registered in the name of Chiaroscuro Limited).
36. AP Filling Station (Beside Former Hotel Bobby) Onipanu Lagos , (registered in the name of Vivi Oil Investments Limited).
37. Building at 154, Ikorodu Road , Lagos (registered in the name of Casi Properties & Investment Ltd).
38. Ilemba Hausa Road , Ajamgbadi, Lagos (registered in the name of Vivi Oil & Gas Company Limited).
39. Land at Iyana Ipaja Round About, Iyana Ipaja, Lagos , (registered in the name of Vivi Oil Investments Limited).
40. Building at 7, Randle Road , Apapa, Lagos , (registered in the name of Ogekpo Estate Managers Limited)
41. Block 34, Flat 6, LSDPC Housing Estate, Ebute-Metta Lagos (registered in the name of Ogekpo Estate Managers Limited)
42. Three residential towers at Port Harcourt , GRA. 43. 22 Sani Abacha Way, Port Harcourt, GRA (registered in the name of Velvox Investment Company Limited).
44. Metro Plaza Building , 991/992 Zakari Maimalari Street , Central Area, Zone 5, Abuja , (registered in the name of Abinof Food Company Limited).
45. The 4 Floor Building at Herbert Macaulay Way , Wuse Zone 6, Abuja (registered in the name of Casi Properties and Investment Ltd).
46. Metro Plaza Building, ANNEXE B, Zakariya Maimalari Street, Cadastral Zone, AOO, C.B.D, Abuja (registered in the name of MST Properties West Africa Ltd).
47. Flats 1-4, Block D33, Abuja Games Village , Abuja (registered in the name of Convent Trade & Services Limited).
48. Block D33 (Flat 1-4) Games Village , Abuja (registered in the name of Casi Properties and Investment Ltd).
49. Block B40, Flat 5 & 6, Zone 3, Gymnastic Games Village (registered in the name of Oceanic Homes Savings & Loans Limited).
50. Executive Guest House, 4 bedroom Bungalow, Ndanuba Street , Maitama, Abuja (registered in the name of Ogekpo Estate Manager Limited). 51. Executive Guest House, Ali Akilu Crescent , Asokoro, Abuja , (registered in the name of Ogekpo Estate Managers Limited).
51. 29 Real estates in Dubai
52. Seven residential properties in Dubai
53. 15 Real Property in South Africa
54. Other properties in London, England
55. Abridged Shares In listed Nigerian Companies without limitation:
