Ex-IG Ehindero Received Interest on N300m Police Funds, ICPC Tells Court

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The Independent Corrupt Practices and other related offences Commission (ICPC) has alleged that former Inspector-General of Police (IG), Sunday Ehindero, fraudulently received interest on a N300 million Nigeria Police fund lodged in a fixed deposit account of  WEMA bank.

In a statement by the commission’s Spokesperson, Rasheedat Okoduwa, the ICPC said the allegation was contained in a submission made by a banker, Aibangbe Maifuwa, to a Federal Capital Territory (FCT) High Court 7 in Apo, Abuja.

According to ICPC, “The banker, Mr. Aibangbe Maifuwa, a Business Development Manager with WEMA Bank Plc, who testified before Justice S. C. Oriji in a case brought against Ehindero by the ICPC, said the money which was N10.3million was part of proceeds from N300million police fund he allegedly kept in a fixed deposit account with the bank.

“The banker, who was led in evidence by the ICPC’s lawyer, Zainab Nass, told the court that the retired police boss had fixed the money at a 10 per cent interest rate per annum between July 11, 2006, and January 19, 2007.

“In his response to questions put to him during cross-examination by Ehindero’s lawyer, K. O. Omolola, the banker said the former IG had written to the bank requesting that the accrued interest on the N300million fixed deposit, amounting to the sum of N10, 364,283.77, be paid to him in cash, while the principal sum be paid through a WEMA bank cheque in his favour.”

The anti-graft agency said the retired IG and a former Commissioner of Police in charge of budget at the Police Force headquarters, Mr. John Obaniyi, who were present in the court, were facing charges with multiple counts bordering on mismanagement of police funds and abuse of office.

It said the case was adjourned to May 13, 2019, for continuation of hearing.

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