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APRIL 2, 2007 VOL. 20. NO 25 |
The Controversial 'Confession'
The addmission, last Monday, March 19 by Otunba Oyewole Fasawe that, indeed, President Olusegun Obasanjo not only knew of the controversial MOFAS account, but in one instance paid in the sum of N700million from his personal account into MOFAS, turned out to be the testimony which unsettled the entire PTDF probe, thus pitting the senate against itself. Here is how Otunba Fasawe’s session with the senate committee went: Committee Chairman: Otunba Fasawe, I want to remind you that we insist that you speak under oath and you have taken an oath and we believe that whatever you would say would be truth and nothing but the truth. Fasawe: Absolutely. Chairman: The whole thing borders on the issue of Mofas and NDTV. For example, here, we do not know whether it is a curious coincidence or coincidence of purpose: on the 20th of October, 2003 TIB advanced a loan to NDTV to the tune of N400 million; on the 22nd of October, two days later, TIB again advanced a loan of N420 million to Mofas. And they said NDTV is a business concern promoted by Otunba Fasawe. Is it true? Fasawe: Yes. Chairman: Then on the 23rd of October, a day later, TIB advanced a loan of N300 million to Transvari Services Limited, a business concern promoted by Ahmed Vanderpruye, a business associate of Otunba Fasawe and his partner in NDTV. These are the findings of the former Committee. In a matter of three days, a loan of N1.12 billion was given to you and your associates. We call it curious coincidence because we cannot link these to Mofas…Can you shed more light on these? Fasawe: Thank you very much, sir. I disassociate myself from Transvari Services Limited. It is a company owned by my partner. It has nothing to do with Mofas or NDTV. So, I do not know anything about Transvari and this is where the mix-up lies. Now, when we want to go into the telecommunications business, before you approach any bank for loan, your feasibility study, detailed banking, how the thing would be profitable, what would be the benefits, what the bank would sink into it would be made available to the bank and that is what we did and the bank approved it. As a businessman, I know I can go to a bank to draw money ten times in a day once the understanding is there and a majority of businessmen in this country today either go to bank to borrow or to negotiate business with the bank. As far as I am concerned, sir, the issue of Transvari and the issue of drawing money is the normal thing that goes on in business when the need arises because the issue is that thos on NDTV who borrowed $6.5 million. And how did we come about this business? We that are on the board: myself, Ahmed Vanderpruye, Dumebi Kachikwu are wanted. It was during the Sullivan Summit that President George Bush came to Nigeria and that is why I am saying that in my statement to the EFCC; they should have submitted my statement to the Ad-Hoc Committee, which I believe they did not. If they had submitted my statement, by now, they would have known the truth. All these things were stated there. It was during the Sullivan Summit; I was not there; I was, in fact, in the entourage of the C-in-C to that place, including my bankers. I was at home when they came to me and said they got somebody, an American congressman for this our telecommunications business and I said, well. I asked who the person was and they said: Williams Jefferson Jefferson said they were going to give my group a very good company that would pilot their project. So the next meeting was in London; they invited i-Gate from America to London; they met with Jefferson, Ahmed Vanderpruye, Dumebi Kachikwu and all of them. They ran back to me in Nigeria to say that the thing was…because none of them can finance the project. I said if that is the case, I would be part of you; so, let us move on. So, another meting was slated in Washington. It was at the Washington meeting that I met Jefferson and after our meting, the following day, he took us to American EXIM Bank where the bank promised financing the project 85percent. If they are financing the project 85percent, then what do we look for? From there, we even got a letter of intent from American EXIM bank and we rushed down to meet our bankers that this is a good business, let us go for it. What I wanted to put in place is this NDTV business because a majority of the communications business in Nigeria is cornered by South Africans and I said to myself: let me do the one that Nigerians can be proud of and I did inform my good brother whom I am very close to that I want to do this business and I met Jefferson and that was all. So we came, talked to our bank and they did their due process within them and what do I get? Already, I have negotiated the building.” Senator Timothy Adudu: Does the Vice President have shares in your company? Fasawe: My distinguished senator, absolutely, no, sir! Senator Adudu: One of the allegations against you is that the PTDF monies were lodges in banks and each time these monies were lodged in the banks, the following day, you were given a loan and it is possible that you influenced the Vice President to direct these disbursements made to the bank. How do you react to that? Fasawe: This is untrue. At the time I am getting loans from a bank, how many customers. Call the bank and ask them how many customers got loans from them as at that time. Committee Chairman: The answer is that it is not true. Is that your answer? Fasawe: It is not true, sir. Senator Akin Olasunkanmi: When did you say you opened account with TIB? When was the first time? Fasawe: I have been using TIB as far back as 1992. As far back as 1994, I have been getting facilities from TIB. Senator Olasunkanmi: How much was the facility you got from them in 1994? Fasawe: Well, with due respect, distinguished Senator, what was the exchange rate of Naira to the dollar in 1994 to the present moment? Senator Olasunkami: I am supposed to be asking you questions… Fasawe: I would ask you because that question you are asking me, if as at that time you are talking about, if you borrowed N50,000 as at that time from the bank, you know what the value would be by now. So, I think the question is out of place. What I know is that my bank lends me money and I am entitled to facility with my bank. So, the question of borrowing or how much…that does not arise. Senator Olasunkanmi: So you cannot disclose the amount of loans… Fasawe: Now, there is a statement. I made in 2005/2006. By your position, you can get that statement from the EFCC and let it be part of what we are doing here. Senator Olasunkanmi: So, I should go to EFCC to ask for the statement? Fasawe: You have the right, sir. You have the right because the statement is there. Senator Olasunkanmi: I believe the TIB gave you a facility from which you drew down because you said in your testimony that you draw down from the bank and that you can draw down everyday. So, what was the amount of the facility offered for this particular transaction? Fasawe: I have said it that I borrowed $6.5 million from TIB for that project of NDTV. By the time we were given the facility, it was transferred to those who were to do our job and after these people took money- i-Gate and Jefferson- when they took my money, it was after six months when i-Gate did not supply a pin that I started agitating that Dumebi and the rest of them were coming to get to hear… then when I started moving, wrote a letter to the President, the EFCC has that copy, then they quickly alerted Jefferson. Then Jefferson talked to me on phone and said we would settle this… Then they returned $1.7 million out of that money. What is necessary before Nigeria… Chairman (Cuts in): Distinguished senators, let us not ask question outside our purview. Whatever we are going to ask should be confined to the Ad-Hoc Report, the information which we know within the report. Senator Olasunkanmi: So, Otunba Fasawe, was the loan given by TIB denominated in dollars? Will it be correct to say that it was denominated in $6.5 million? Fasawe: I do not see any bank that would transfer money from Nigeria to outside and say that it is transferring the money in dollar. Chairman: That certainly is not the answer. The answer should be “yes” or “no”. What is it? Fasawe: No, sir. It was not denominated in dollar. Senator Olasunkanmi: What was the Naira amount of the facility offered as stated in the offer letter? Fasawe: You can get across to my bank; they have details of this. Senator Olasunkanmi: From the documents we have here, there is one Adamu Abubakar that has 10 percent interest in your company and one of the sons of the Vice President goes by that name.Is he the same person? Fasawe: This is pure blackmail. Senator Olasunkanmi: Would you then tell me the Adamu Abubakar that has the 10 per cent interest in your company? Chairman: Distinguished Senator, I overrule you on that question. Senator Olasunkanmi: Since you got the $6.5 million dollar loan, since I do not know the Naira equivalent, what is the collateral paid to the bank, sir? Fasawe: Well, Mr. Chairman, sir, whatever the collateral was, bank had offered me loan and if I was not due for it, they would not give me. So, if you want to ask question of collateral or no collateral, you want to query the bank, go and query the bank, not me! Senator Saad Abubakar: Was it on the strength of the friendship that you had with Obasanjo that you wrote to him to intimate him with the difficulty in getting your money from Jefferson? Fasawe: Absolutely, sir. That is true. Senator John Azuta Mbata: Otunba, would you like to discuss the Mofas account or you would prefer us to discuss it with the bank? Fasawe: As far as I am concerned, you would take the cognizance of the fact that I am a private person and all my transactions are with my bank. If there is any question violating your rules or the laws of the land, that is what we are here for. If there is anything that I did wrong, why not, I would subject myself to it. This is a question and answer session. So, as far as I am concerned, discussions on my account, if my bankers are here, probably. If you want to ask them question, you can ask them question about my account. Now, the chairman said that we were so busy on this thing. What we need to do is to say publish my Mofas account to the whole world. Senator Mbata: So are you now willing for the account to be discussed? Fasawe: I want the account to be published so that every Nigerian would see if I violate it. Senator Mbata: If you do not answer questions on specific issues on the account, of what use will it be? Fasawe: That is if you ask me a specific question on any item, then you let me know. If I can answer it, I would say, I can answer it. If it has to be answered by my bank, I would say, okay, my bank would do. Senator Mbata: Are you authorising your bank to publish the account? Fasawe: Yes, I am. Senator Mbata: Why can’t you publish it yourself? Fasawe: I do not have it because I am under investigation for almost two and a half to three years now. I have been under investigations. Those who investigated the account, what are they waiting for? The question you want to ask, the EFCC has the answer: hiding the facts from the Nigerian public. Senator Mbata: And do you know the facts that they are hiding? Fasawe: Unless they put them at me where I am faulty. Senator Mbata: Are you willing to reveal some of those facts, which you think they are hiding because you have a very good public forum now to that? Fasawe: As a distinguished senator, if there is any question on this particular account that you are going to ask me, go ahead… Senator Mbata: Because the Senate is providing you a public forum to say those things which you say the EFCC is hiding. Can’t you give us a preview of some of the issues you think the EFCC is hiding with regards to the account? Fasawe: As far as I am concerned, it is a pity that… Chairman: This question is not within the purview of our mandate… Senator Mbata: I asked that question because the document we have states clearly that we should further investigate Mofas account. Chairman: No, we wrote him a letter and we specifically told him what he should bring to us… Senator Mbata: We are reviewing the PTDF Ad-Hoc Committee report and I would refer you to one of the recommendations where they said that the Senate should look more into the Mofas Account…The Mofas account which you put at the disposal of the party, did you have any direct inflow of donations of PTDF money into that account? Fasawe: Absolutely no, sir. Senator Maitama Yusuf: Going through the document, I have seen one of the collateral which is the radio licence. I am surprised that a licence could stand as that… Where is the building for the company situated… Fasawe: Getting money from a bank, if the bank decides that it is the licence that will be my collateral, so be it. No apology about that. Chairman: …The Vice President was specific on the Marine Float and Mofas Account. He said in the Ad-Hoc Committee report that the President has denied anything to do with the Mofas and Marine Float accounts which I have explained were personal account owned by me (Marine Float) and Otunba Fasawe (Mofas). These accounts were made available to Obasanjo/Atiku Campaign Organisation to receive donations and from which election expenses were settled. The third account named Obasanjo Presidential Campaign Organisation was also opened at the Hallmark Bank, Plc with Mr. President as the sole signatory. On February 12, 2004, Mr. President paid N700m from his own bank account into Fasawe’s Mofas account which he claimed not to have anything to do with… Senator Adighije: When you say Mofas account made available to Obasanjo/Atiku Campaign, is there any regret that you drew money? What do you mean by “made available?” Chairman: He said these accounts were made available to Obasanjo/Atiku Campaign organisations to receive donations and from where elections were.. Senator Olasunkanmi: That was Vice President’s statement. Senator Adighije: That is the question I really want to ask. Is it true? Fasawe: Thank you very much. We are on oath here that we would say that nothing but the truth would be said. Sir, it would interest you to know that as far back as 1999, as soon as we came in, we have been maintaining the party, I mean the PDP and other related political programmes, mobilisation for the party and support for the government. I was single-handed doing that. At times, not that I had that money in my bank, but knowing the course I am channeling, my bank would give me that facility and the records are with my bank. So, the question of N700 million, it was after I overdrew my account that I had to run to the leader of the party (Obasanjo) for assistance. I told him, sir, my account was overdrawn and I am in trouble with my bank. What do we do? That was how that one came in. Senator Adighije: He said we have been maintaining the party. I want definition of certain terms. Which party? and who are these we? Fasawe: The PDP, the ruling party. I am one of the people in the forefront doing this job. To maintain a party is not one man’s job. There are other fellows like me who will be doing their own in different ways which everybody knows. So, that is how the “we” came in. Senator Adighije: Does the N700 million now settle the overdraft? Fasawe: With due respect to you, sir, that is what I was given as at that time; and, if my overdraft has all been settled, probably I would not be on the pages of newspapers everyday. So, my relationship with my bank, that tells you it has been on and on, long before the advent of this… Senator Adighije: N700 million was given to you by who? Fasawe: I have said it here. I have said there. Now, what I said is this: it was when I had overdrawn my account to some certain level that I approached the leadership of the party, which is Baba (Obasanjo) and he gave me the money. |
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