How ex-Minister, Wakil corruptly received N118m bribe through Polaris Bank

The Economic and Financial Crimes Commission (EFCC) has arraigned ex-Minister of State for Power, Mohammed Wakil, over Power Holding Company of Nigeria (PHCN) funds.

Wakil corruptly received N118m bribe through his company’s bank account domiciled in Polaris Bank.
On Monday, he was docked before Justice S. B. Belgore of the Federal Capital Territory High Court, Apo, Abuja, on a two counts charge of corruption and abuse of office.

Wakil was arraigned alongside two companies, Corozzeria Nigeria Limited and Pikat Properties Nigeria Limited.

EFCC, in one of the counts, said Wakil, “while being Minister and Managing Director of Corozzeria Nigeria Limited on or about 22nd December, 2014, in Abuja, corruptly received N118,000,000 through the company’s Polaris Bank Account No. 4010023658 from Bestworth Insurance Brokers Limited”.

The money was part of the N27,188,232,200 approved outstanding insurance premiums and claims of deceased and incapacitated staff of PHCN.

The offence was contrary to Section 8(1)(a) of the Corrupt Practices and Other Related Offences Act, 2000 and punishable under Section 8(1)(b)(ii) of the same Act.

Wakil pleaded “not guilty” when the charges were read.

Benjamin Manji, prosecution counsel, asked the court to set a date for commencement of trial and remand the defendant at a Correctional Centre.

B.C. Igwilo (SAN), counsel for the defendants, requested bail for the former minister.
Justice Belgore adjourned the matter until March 31, 2021 for determination of bail application and remanded Wakil in EFCC custody.