Controversial AGF, Bello Adoke Linked To Oil Companies Sharing Nigeria’s Subsidy Funds…Plus More Details Of Hidden Wealth

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Barely 24 hours after ireports-ng.com published details of multi-billion dollars secret bank accounts of Nigeria’s controversial Attorney General and Minister of Justice, Mohammed Bello Adoke,his close allies who are angry with his role in the on-going nationwide strike in the country have provided documents giving further details of the Minister’s stupendous wealth hidden in over 25 bluechip companies, some of which have been sharing in the the contentious oil subsidy funds.

A rundown of the documents made available to ireports-ng.com indicate that Adoke is a major investor in Oando Oil which has taken over N228 billion out of the N1.4trillion shared by about 100 oil marketers between January and August, 2011. The Minister has about N1.5 billion investment tucked in Oando Oil PLC. Apart from Oando, available documents also show that Adoke is equally a major investor in Eterna Oil which has within the same period benefitted about N5.57 billion from the fuel subsidy cake. He is said to have about N1 billion investment in the company, with another N2 billion tucked in a company called Novasys Ltd.


It has also been discovered that the Minister has his hands and hidden investments in major banks in the country. Some of them include about N400 million in Oceanic Bank; aboutN200 million in UAC properties; about N20 million in Guaranty Trust Bank; about N360 million in Access Bank; about $400,000 US dollars in MTN; about N1 billion in Japaul Oil& Maritime; about N15 million in Bank PHB; about N100million in First Bank; about N20 million in FCMB and aboutN6 million in Unity Bank PLC among others.

One of our sources hinted that the Minister has already begun moves today to begin the process of depleting funds in the four bank accounts exposed in our earlier story in collaboration with the account managers

source: ireportsng

2 COMMENTS

  1. Na wa o, where some ppl find it difficult to even eat a mail worth N100 in a day!

    This capitalistic economy sef!!

    Why ’em no go support the removal!

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