The Independent Corrupt Practices and other related offences Commission (ICPC) have detained Temitope Banjoko, a Managing Director of a construction company over allegations of money laundering.
ICPC spokesperson, Mrs Azuka Ogugua confirmed the arrest on Tuesday July 5, and further revealed that Banjoko was awarded a contract worth N46,305,000 (N41,674,500 after tax deductions) for the demolition, and evacuation of debris of four houses at the Supreme Court judges’ residence in Maitama, Abuja, in 2017.
Ogugua said the contract was not executed but the full sum was disbursed to Asbat Construction Limited, thereby attracting the attention of the ICPC.
The ICPC spokesperson told Channels Television that while writing his statement, the contractor claimed to have utilised the money for something else and some funds he was expecting were not forthcoming.
Banjoko was also said to have made a commitment to repay the money after the ICPC began its investigations. The contractor had only repaid the sum of N5 million, out of the contract sum, leaving a net balance of over N36 million.
Investigations also revealed that some of the houses earmarked for demolition have been renovated and are now occupied by new judges.
Banjoko is expected to be charged to court very soon.
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