Details have emerged about how popular Nigerian music singer, Mr Oladipo Oyebanjo (aka D’Banj), dragged two Nigerian commercial banks into the alleged fraud in the implementation of the N-Power programme, The Quest Times has exclusively reported.
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) in a statement last Wednesday confirmed the detention of the popular artiste over allegations of fraud associated with the N-Power programme, noting that investigation in the matter was ongoing.
According to The Quest Times findings, payments of monies to ghost accounts, now linked to D’banj, through the two commercial banks, Wema and Sterling banks, landed them in trouble with the Nigerian authorities as beneficiaries complained of non-payment of their stipends.
A public affairs analyst and some inside sources at ICPC have blamed D’banj and the system adopted by the N-Power management at the Ministry of Humanitarian Affairs for the fraud, detailing how the implementation of the programme, post 2019, gave rise to the kind of irregularities observed today.
The QUEST TIMES reports that prior to 2019 when the scheme was managed directly in the Presidency-under a Special Adviser to the President based in the Vice President’s office, selection of beneficiaries for all components of the Social Investment Programme (SIP) was transparent and not ceded to individuals (brand ambassadors) or politicians as in the case of D’banj’s involvement with the N-Power.
The QUEST TIMES findings show that top Presidency officials had lauded the transparency of the SIP, recalling testimonials heard on radio programmes and social media – of beneficiaries talking about how they got selected without having connections to anyone in and outside government.
HOW THE BANKS LANDED IN TROUBLE
A close observer of the ongoing investigation of D’banj at the ICPC Headquarters in Abuja told The QUEST TIMES how D’banj mismanaged the 1,000 slots allotted to him as a brand ambassador of the N-Power programme since his endorsement in 2021, dragging the two banks into the alleged fraud.
The ICPC source explained that, “D’banj’s list originally had 1,000 slots for the N-Power scheme but was inflated to 4,000 by his team and submitted to government for payment. Consequently, huge sums were released for all of his slots including the extra 3,000 possible ghost beneficiaries. In any case, most of beneficiaries under D’banj’s list complained of non-payment of their stipends even when monies were disbursed by government through the two banks.
“Though D’banj claims that he was not aware of the additional 3000 names to his list, documents made available by the banks indicate that monies were paid to all the names contained on the long list. And the popular musician is now trying hard to distance himself from how the list got bloated from 1000 to 4000 as alleged by the Ministry.
“But the fact that monies released through the banks to beneficiaries were mismanaged made the banks complicit in the matter,” a knowledgeable source added.
In the same vein, a public affairs analyst who spoke to The QUEST TIMES on condition of anonymity said, “D’banj’s involvement with the scheme of granting partial slots is a moral burden for the musician and has now put two banks in the situation that casts doubt on their integrity. He (D’banj) ought not to have taken slots as a brand ambassador, in the first place. He is supposed to be an ambassador for all Nigerians and not some select group that would be handpicked by him and his team.
“The truth is that monies were paid through two banks and the beneficiaries did not receive the said amount. Investigators will now need to find out from the banks and D’banj who received the huge sums.”
The source also said “when the scheme was supervised in the Presidency, we didn’t hear of such slots arrangements where individuals or politicians were allotted slots to be filled under the various components of the SIP. The fact that beneficiaries were not paid even when funds were made available is unacceptable.”
Both sources at the ICPC and close watchers believe that cooperation by D’banj, his team and documents made available by the banks and the Ministry of Humanitarian Affairs will unravel the level of involvement of the pop star and the financial institutions.
It would be recalled that ICPC, in a recent statement by its spokesperson Mrs Azuka Ogugua said, “In line with its mandate, the commission received numerous petitions on the diversion of N-Power funds running into billions of Naira following the approval and release of such funds to the beneficiaries by the Federal Government.
“Many N-Power beneficiaries had complained over the non-receipt of the monthly funds in spite of payment by the government.”
Ogugua noted that about 10 persons had been invited by the ICPC over the last few months in connection with the fraud and granted administrative bail.
She said several invitations to Mr Oyebanjo (D’Banj) to appear before a team of investigators were ignored.
“Mr Oyebanjo turned himself in and was taken into custody at the ICPC headquarters on Tuesday, December 6, 2022, and is currently assisting investigators to unravel the circumstances of the fraud allegations by the petitioners.
“The investigation will be all-encompassing and extended to other collaborators of the fraud and the banks where the beneficiaries’ accounts are domiciled,” Ogugua added.
This is exclusively reported by The Quest Times
