N44bn Scam: Ibori Goes Into Hiding to Evade Arrest

The fear of being arrested by the Economic and Financial Crimes Commission (EFCC) has forced former governor of Delta state, Chief James Ibori into hiding.

It was gathered that the former number one citizen of Delta state must have gone into hiding following reports that operatives of the anti graft agency may need him for interrogation over allegations that he converted the state government shares worth over 500million Naira in Oceanic bank for private use while he was the state chief executive.

According to the commission’s agent, who asked not to be named disclosed that EFCC operatives were out looking for him to interrogate him. He said that may have got wind of it and disappeared.”

Indeed, Mr. Ibori, who was hitherto very visible in government circles, has suddenly become very scarce. It was not uncommon to find Mr. Ibori in the company of Vincent Ogbulafor, Chairman of the People’s Democratic Party (PDP) at the presidential villa, in the era of the Yar’Adua presidency. However, he has not been seen in the State House in recent times.

Asides the 107 count-charges brought against Mr. Ibori by the EFCC in 2007, the commission is preparing fresh charges against the former governor following a petition signed by some leading citizens of his state.

The latest petition, signed by 10 leading citizens of Delta State headed by a former minister of information, Edwin Clark, includes a demand for a probe of the former governor over the alleged illegal disposal of 528 million shares belonging to Delta State, in Oceanic Bank.

The EFCC responded by launching investigations. The investigations led to the unraveling of some facts, which have now led to the latest move to interrogate the former governor.

Mr. Ibori allegedly sold off Delta State assets to fund private investments while he was still in office.
The search has to do with the 44 billion Naira loans, which he took from Intercontinental Bank. He used Delta State shares in Oceanic Bank as security for the loan.

He later asked the bank to sell off the shares, over 500 million units, to repay the loan,” our source said, adding however, that Mr. Ibori’s disappearance has now stalled the EFCC’s invest-agitations.

Let's see how Jonathan will handle this case. Umaru seemed to be soft with him.

That is what bothers me the most. The top always protecting the guilty. No accountability. No fear of consequences. A civil servant diverting funds from one project to another- all under his ministry- without virement would rot in prison forever. But a Governor or President will divert billions of dollars to his lifestyle and just ' go into hiding'. AND thats all. He waits for his co-travellers to return to power to surface and loot again.

it is so amazing that only the super corrupt is allowed to roam the streets of Nigeria as free citizens.

Judgement day is at hand when every man will give account of his/her deeds.

I hope this judgement will come through the hand s of our acting Presido; ebele GoodLUCK Jonathan?

Umaru has shielded these crocks

Why do you think Aandokka do more to protect this man than the Nation?.
The man was responsible for most of the finance of the campaign that brought umaru to power,But now that tthe pact has broke.......the show is hot.

This time around,He should be sought out and He should not be allowed to escape.