The Nation - EFCC arrests timber association chiefs for alleged fraud

The Nation - EFCC arrests timber association chiefs for alleged fraud
By Leke Akeredolu 1 hour ago
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Five executive members of Ondo and Ekiti states Animo Timbers Buyers Association have been arrested by officials of the Economic and Financial Crimes Commission (EFCC) over an alleged mismanagement of the union’s funds running into about N180million.
Those arrested were Mr. Emmanuel Nwatu (Chairman Akabenon Timber Association, Akure), Mr. Anthony Okafor (member Akabenon Akure) Chief Stephen Okeke (Animo Ondo State Chairman), Chief Nnaji a.k.a Chicago, (Vice Chairman Animo Ondo State) and Chief Ignatius Igweze (President-General Animo Ondo State and Ekiti states).
Newsextra learnt that another officer of the association has gone undergound following the alleged fraud.
The association which comprises five units and mainly made up of people of Igbo extraction accused its leaders of looting its treasury, and also refusing any audit of its accounts since its creation in 2000.
Last year the controversy heightened when the financial secretary, Ogunebutelu accused the chairman of Akure unit, Mr. Nwatu and one Mr. Anthony Okafor who were in charge of printing and selling of the association’s booklets of stealing over N17m from the association’s treasury.
The two persons were said to have printed additional tickets and making illegal deals.
A petition was written by the financial secretary to all the five units and it was decided that monies made from such deals be returned within a week.
But members of the association also accused the financial secretary of partaking in the fraud, stressing that it was due to the rancour among the leaders that led to the crisis.
According to a member who spoke with Newsextra in Akure, the Ondo State capital, and wished to remain anonymous, the association’s chiefs always threatened to assassinate or kidnap members whenever they demanded to know what the association had in its coffers.
The source said: "This association was formed in year 2000 following the double taxation paid by the members whenever they moved their goods to Edo State. After we formed this association, the executives sued Edo State government over double taxation paid by the members.
"Since year 2000 the association has been producing booklets which cost N35,000 for each unit and sold at the rate of N1000 for members. This will allow us to have free movement with our goods to Edo State and most of the five units do purchase about three to four booklets in a week worth about N700,000.
"Our executives have failed to explain to its members what they do with our money and when we asked they would flare up and called their touts in Edo State to disturb our movement. There was a period they came up, saying they had been using the money to settle Edo State government and whenever we demanded for the receipts they would raise their voices against us.
"When this fraud was discovered by members last year, we all challenged our leaders and threatened to invite EFCC if they failed to account for our money, but the matter was swept under the carpet when some of the leaders started confronting us, saying that they would kill or kidnap us if we took any legal step about this issue.
"We are in support of their arrest and we are urging the EFCC to ensure that the suspects cough out the money".
The EFCC spokesman, Femi Babafemi when contacted on the arrest, said he was out of the country. He however confirmed the arrest and promised to provide more details about the matter.