Thursday, 03 March 2016 05:23

How Former Benue Governor, Suswam Instructed Me To Sell Shares Belonging To The State - Witness

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The Portfolio Manager of Elixir Investment Partners Limited, a brokerage firm, Aluyi Victor, testifying at the ongoing trial of a former governor of Benue State, Gabriel Suswam, and his Commissioner of Finance, Omadachi Okolobia, on Wednesday, 2016 told Justice A. R. Mohammed of the Federal High Court, Abuja, that the company was given oral instruction to sell shares belonging to the state. According to him, sales of the Benue State-owned shares yielded N9,411,078,000.61.

He told the court that the instruction from Okolobia was handed down to the managing director of the company, ordering that the money made from the sales from various stock brokering houses, which was valued at about N25.5 billion and made up predominantly of Dangote Cement and Julius Berger shares, be paid into three different bank accounts. Based on the instruction, a total of N1 billion was paid to Benue Investment and Property Company Limited, and N5.3 billion to Benue State Ministry of Finance. He added that a third payment of N3,111,008,018.51 was credited into the Zenith Bank account of Fanffash Resources, a bureau de change firm owned by Abubakar Umar.

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