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HomeTop NewsAmaechi, Cole to face prosecution over N96 bln alleged fraud in Rivers...

Amaechi, Cole to face prosecution over N96 bln alleged fraud in Rivers State

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The immediate past Minister of Transportation and recently defeated presidential aspirant under the ruling All Progressive Congress (APC), Rotimi Amaechi and governorship candidate of the party in Rivers, Tonye Cole may face prosecution for an alleged fraud of N96 billion.

According to the Rivers State Governor, Nyesom Wike, the state has filed a suit against Amaechi over the alleged fraud during his tenure as the governor of the state.

Wike, while swearing-in three new commissioners at the government house in Port Harcourt on Friday, announced that criminal charges have been filed against the former governor, as well as Sahara Energy, a firm indicted in the deals and owned by Cole.

The firm is co-founded by Cole, a businessman and governorship candidate of the APC in Rivers state.

Wike directed Zaccheus Adangor, the state attorney general, to commence immediate prosecution.

“Attorney-general, you’re at a critical period where people want to know what the state is going to do with the judiciary panel of inquiry after the Supreme Court judgment on it,” he said.

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“Luckily, you came at the right time when we have preferred criminal charges against the former governor (Amaechi), Sahara Energy, Tonye Cole and the rest of them.

“So, you are coming at the right time to take over the matter and to make sure it is prosecuted diligently. I don’t want to hear excuses. Let the people see what happened to our money.

“The world will see how $50 million from our account was moved to a company without anything to show whether there was a business.”

Wike had set up a seven-man panel to probe Amaechi over an alleged withdrawal of N96 billion from the state’s treasury during the latter’s tenure as governor.

The panel had also investigated issues surrounding the “sale of assets” by the former governor.

The listed valuable assets are Omoku Gas Turbine, Afam Gas Turbine, Trans Amadi Gas Turbine, Eleme Gas Turbine, Olympia Hotel, and the contract award for the execution of Mono Rail Project.

The panel submitted its report in 2015, while Amaechi has insisted that he is not guilty of fraud.

However, on May 27, 2022, the supreme Court dismissed an application by Amaechi, challenging the probe.

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