Senate has launched a comprehensive investigation into the whereabouts of $27 million being proceeds from an alleged sale of properties of the Federal Government in the United States of America (USA).

Officials of the Nigerian embassy in the USA allegedly sold the properties. Further checks revealed that the prime properties were sold between 2004 and 2007.

Already, the Senate Committee on Foreign Affairs  had summoned the former ambassador, George Obiozor; Nigeria’s Permanent Representative to the UN, Ambassador Joy Ogwu and Ambassador Adebowale Adefuye.

They appeared before the committee yesterday before newsmen were sent out of the meeting, which held in Senate Committee Room 2.04, shortly after the opening remarks of the committee Chairman, Senator Matthew Nwagwu.

The Senate investigation was predicated on a petition from a non-governmental organization (NGO), Transform Nigeria Movement (TNM), to Senate President David Mark, who mandated the committee to conduct the probe.

The petitioners are demanding that the result of the investigation be made public.
Daily Sun gathered that as part of its investigations, the committee had gone to the US to verify some details raised in the petition.

The petition which was signed by Mr. Daniel Elombah, noted that between 2004 and 2007, the Nigerian embassy sold four prime properties of the Nigerian government located in Washington DC and Maryland.

He said the embassy also commenced the sale of other properties in San Francisco, California within the period.

“Out of those sales, Nigeria realised the sum of approximately $27million. All funds realised from these sales, except those set aside as fees, were remitted to the Embassy of Nigeria in Washington DC.

“As of June 2007, when the law firm that advised the embassy on the sale of the properties met with embassy officials at the embassy premises in Washington, all these funds and transactions were duly confirmed.”

Elombah equally alleged in his petition that it was confirmed that the embassy of Nigeria had placed the funds in a special account with the M and T Bank in Washington DC. This was the status quo after Ambassador George Obiozor returned to Nigeria after his tour of duty in Washington.

The petition continues: “Surprisingly, the Embassy of Nigeria left the money in Washington partly because it yielded substantial monthly interests, which the embassy officials would never have to account for.

“Those funds remained in those accounts throughout the tenure of Ambassador Oluwole Rotimi, then arrived Ambassador Adebowale Adefuye in Washington. When Adefuye got to Washington, those funds were still lodged in the M and T Bank Account intact.

“Between the time Adefuye became the ambassador until March of 2012, the millions in the accounts mysteriously disappeared. This became clear when the M and T Bank was forced to close the bank accounts of Nigerian Embassy and to terminate all banking relations with the embassy at the beginning of 2012,” TNM alleged.

Transform Nigeria Movement also noted that the content of a correspondence between the bank and the embassy which was made public, made it clear that the accounts of the embassy with the bank, including the one containing the proceeds of the sale of the embassy property had been drawn down to barely $400,000.

“Since March 2012, there has not been any explanation of what happened to the millions of dollars that were realised from the sale of the embassy properties in the US, which were in the bank account at the time Ambassador Adefuye assumed office as the ambassador to Washington.”

The organization also referred the president of the Senate to a probe by the National Assembly in 2009 which bordered on the appropriation of $3 million directly from the embassy account in Washington, being proceeds from a similar transaction.

Furthermore, TNM argued that it was disturbing that a much larger amount had disappeared from the embassy account in Washington without any questions being asked.

“The least the government should do is to come out and explain what happened to these funds. To remain silent is really an option you do not have. You have seen your own generation how the issue of the $12 billion oil windfall has refused to go away from the consciousness of Nigerians.

“Why then would you leave another set of funds to go unanswered for, on your watch? This would be a disservice to the National Assembly and a betrayal of the country. I therefore urge you with the utmost humility and respect to investigate the missing millions of dollars and inform Nigerians of the result of your investigation,” it stated.

Shortly before the committee went into a closed session on the matter, the committee chairman told the three former ministers that they would be allowed to say what they know about the missing funds.
Nwagwu added that the committee was determined to unravel the mystery behind the management of the funds.

“We have invited you because of an allegation of embezzlement in our mission in Washington, particularly the sales of property in the US. It was alleged that certain officials have squandered the proceeds of the sales.

“Our job here is to allow you address the committee and tell us what you know about the property sale, management, administration of the accounts while you were in office. The committee has got a petition and we are not taking it on its face value; we want to give the ambassadors a chance to explain their own roles.

“We are not a court of law, we are not going on a trial, we are doing this for posterity and keep the records straight and I am sure most of you will be happy that we have invited you to have the opportunity to clarify the matter,” Nwagwu said.

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