LATE ISA FUNTUA’S SON, ABUBAKAR, HIS UGANDAN ASSOCIATE, ASEGA, ON THE RUN AFTER STEALING N28BILLION

LATE ISA FUNTUA’S SON, ABUBAKAR, HIS UGANDAN ASSOCIATE, ASEGA, ON THE RUN AFTER STEALING N28BILLION

Abubakar Isa Funutua, son of late Isa Funtua, and his Ugandan businesses associate, Asega Aliga, both looted N28billion from Keystone Bank and fled Nigeria. While Abubakar is said to have moved to Spain where his estimated to worth $300million in cash and properties, Aliga is said to the hiding in Uganda. The two rogues also shuttle around the UK.

The duo used 13 companies dubiously formed companies to collect Agricultural loans from the Central Bank of Nigeria, CBN, under Godwin Emefiele and have since paid only N7billion before they decided to go into hiding.

The shell companies used are: STEFEM AGRICULTURE NIG LTD, MIDDLEEMARSH FARM LTD, AGRICULTURAL DERIVATIVES LTD., CHARIS2014 GLOBAL LTD, IKEEZ AGRO ALLIED RESOURCES LTD., PIERS ON AGRO-ALLIED, WHOLEFOODS PROCESSING LTD, TENACO FARMS AND FOOD NIG LTD, HOUSE OF ESHCOL LTD, MAHVECK GLOBAL CONCEPT LTD, ESTIM FARMS LTD, WILLYMONIA INT, HARGRIK AGRO INVESTMENT LTD.

Soon after Isa Funtua died, Emefiele had asked Abubakar to return to site and complete the N30billion CBN Car Parking Extension contract awarded to Bulet Construction. Abubakar refused. Emefiele also demanded repayment of the Agricultural loans collected. Again, Abubakar refused. The former CBN Governor then debited Keystone Bank where Abubakar and Aliga own majority shares, the sum of N28billion being the total loan sum collected.

Informants at the Economic and Financial Crimes Commission, EFCC confirmed to me that soon after the investigation of Keystone Bank, it was discovered that Abubakar and Aliga had used fronts to set up another company called Seltrix Nigeria Limited, where most of the N28billion collected from the CBN as Agric loans were warehoused. Only about N4billion is now left in Seltrix account.

Keystone Bank can no longer recover their money because the companies used to obtain those loans only exist on papers.

It is the same model Abubakar and Aliga used in collecting $251million loan from AFREXIM  to acquire 9mobile, using Teleology/Emerging Market. 9Mobile has now been taken over by AFREXIM after Abubakar and Aliga and their Emergin Market refused pay back