EFCC is looking for $175M paid into ex-First Lady’s company account

The Economic and Financial Crimes Commission (EFCC) is trying to find $175,750,000 which was deposited into an account linked to former First Lady,

The money was paid into the account of Pluto Property and Investment Limited, a company which supposedly belongs to Mrs Jonathan, between February 21, 2014 and April 1, 2015, The Nation reports.

The cash was subsequently withdrawn and disappeared without a trace.

“The EFCC is probing how the deposits hit the company’s account barely two years after it was registered and without executing any major contract. We are suspecting that this is another slush account where government funds were diverted to,” a source told The Nation.

“All the deposits were in cash, a development which showed that it was a pure case of money laundering. On the 21st of February, the account was reported to have recorded a cash deposit of $46,500,000 by the General Manager of Pluto Property and Investment Company Limited, Toru Wonyeng Ibuomo.

“Three days after (24th of February, 2014), another cash deposit of $31,000,000 was made by the same General Manager.

“Friday Davies made a cash deposit of $49,250,000 into the same account. The last tranche of $49,000,000 was deposited by Davies on April 1, 2015.

“We need the two depositors to assist in the ongoing investigation of the payments into the affected account. It is more curious when the bank details did not show evidence of withdrawals. Yet the whereabouts of the cash was unknown. We hope it is not a private banking arrangement to hide slush funds,” he added.

Mrs Jonathan is currently under investigation for money laundering after the sum of $15 million was found in some accounts belonging to her.

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The former First Lady has however denied wrongdoing saying that she got the money from friends.