N2.5billion fraud: EFCC arrests suspended PTAD DG, three others
Wed Apr 20, 2016 10:33:am National
3.9K By sosa hills
The EFCC has arrested the Director General of the Pension Transitional Arrangement Directorate (PTAD) Nelly Mayshak who was recently suspended over an alleged N2.5 billion fraud. Mayshak was suspended indefinitely in March over allegations of fraud uncovered in the PTAD. She is also accused of embezzling of about N500 million meant as take-off grant for PTAD.
The EFCC also arrested three of her staff who allegedly served as front for her in the award of fictitious contracts.
They are Yoab Youssoufou, Patricia Iyogun and Ruth Imonikhe. Investigations into the alleged fraud revealed that Mayshak misappropriated about N2 billion of the N2.5 billion.
She inherited the money from the pension's account of the Head of the Civil Service (HOSF) mainly meant for Nigerian Immigrations Service (NIS) Nigeria Customs Service (NCS), and Nigeria Prisons Service (NPS).
"In one instance, Mayshak allegedly approved N25, 410,000 contracts for the supply of 121,000,000 litres of fuel in one day when in fact there was no corresponding storage capacity. PTAD only has storage capacity of about 11,000 litres, which lasts for about a month," the source said.
Mayshak is also alleged to have awarded several phony contracts to cronies and staff of PTAD, through which she enriched herself because they only served as fronts for her.
The source added: "Between December 8 and 30, 2014 she awarded multiple contracts to the same company, Interactive Wide Nigeria Limited, to the tune of about N29, 377,993.26.
"Other contracts for the supply of office materials, air conditioners, and conference materials to the tune of N375, 704,287 were awarded to Belzacode, Hosley Nigeria Limited and Pabak Nigeria Limited.
The source said investigations revealed that "Yousoufou, Team Leader, ICT owned Belzacode; Imonihke, Team Leader, DG's Office, owned Hosley Nigeria Limited while Iyogun, Team Leader, Customs, Immigration and Prisons Pensions Department, said to be a sister-in-law to Mayshak, owned Pabak Nigeria Limited.
"They were however, found to be merely serving as fronts for Mayshak."
The EFCC also arrested three of her staff who allegedly served as front for her in the award of fictitious contracts.
They are Yoab Youssoufou, Patricia Iyogun and Ruth Imonikhe. Investigations into the alleged fraud revealed that Mayshak misappropriated about N2 billion of the N2.5 billion.
She inherited the money from the pension's account of the Head of the Civil Service (HOSF) mainly meant for Nigerian Immigrations Service (NIS) Nigeria Customs Service (NCS), and Nigeria Prisons Service (NPS).
"In one instance, Mayshak allegedly approved N25, 410,000 contracts for the supply of 121,000,000 litres of fuel in one day when in fact there was no corresponding storage capacity. PTAD only has storage capacity of about 11,000 litres, which lasts for about a month," the source said.
Mayshak is also alleged to have awarded several phony contracts to cronies and staff of PTAD, through which she enriched herself because they only served as fronts for her.
The source added: "Between December 8 and 30, 2014 she awarded multiple contracts to the same company, Interactive Wide Nigeria Limited, to the tune of about N29, 377,993.26.
"Other contracts for the supply of office materials, air conditioners, and conference materials to the tune of N375, 704,287 were awarded to Belzacode, Hosley Nigeria Limited and Pabak Nigeria Limited.
The source said investigations revealed that "Yousoufou, Team Leader, ICT owned Belzacode; Imonihke, Team Leader, DG's Office, owned Hosley Nigeria Limited while Iyogun, Team Leader, Customs, Immigration and Prisons Pensions Department, said to be a sister-in-law to Mayshak, owned Pabak Nigeria Limited.
"They were however, found to be merely serving as fronts for Mayshak."
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