BrandArena: Nwasike Freed From EFCC Nest, Demands N160M Compensation

Wednesday, 26 July 2017

Nwasike Freed From EFCC Nest, Demands N160M Compensation

Retired Staff of Shell Petroleum Development Company (SPDC) and businessman, Engineer Obi Nwasike has been unconditionally released from EFCC captivity.

Engr. Nwasike was released last week Wednesday shortly after his arrest by EFCC operatives upon his landing at the Murtala International Airport, Lagos.

Speaking through his lawyer, Barrister Ndubisi Chuks Nwasike, the businessman was unlawfully arrested and harassed despite his health challenges by the EFCC through the instructions of one of his business partners, Mr. Okwy Okeke, the Managing Director of Continental Alarm Limited (CLA).

“This is a clear case of witch-hunt by an embittered business partner whose nefarious activities has been discovered and exposed by my client. Engineer Nwasike had discovered that the Chief Executive Officer of Continental Alarm Limited and some other board members of the company were embezzling and misappropriating company fund. They are also involved in some unethical business practices for which Engr. Nwasike being also a board member and in-fact the highest share holder of the company demanded explanation for. In order to avoid this, Mr. Okeke used some ready hands in the EFCC to harass and embarrass my client.”

Barr. Nwasike explained that his client, Engr. Nwasike through his company, Chester Mead Associates (CMA) bought 20% equity of the shares of CAL at the cost of $40,000.00 in the year 2000 when Engr. Nwasike was still a staff of Shell Petroleum.

“He used his experience, business acumen, influence and reputation in the oil and gas sector to grow and attract businesses for the CAL from Shell, Seplat Petroleum PLC, NAPIMS and NNPC. All these he did in good faith as a board member of CAL but what did he get in return, embarrassment and false accusation.”

He revealed that in the usual course of his client’s relationship with CAL, whenever the company executes contracts with Shell using the services and expertise of CAM, payment by shell on such contracts are usually remitted to CAM’s account which is managed wholly by Engr. Nwasike adding that, CAM has so far remitted over N180, 000,000.00 (One Hundred and Eighty Million Naira as proceeds from the contracts from Shell Plc to CAL through Mr. Okeke.

However, things went south when in 2015 when Engr. Nwasike demanded for a board meeting to discuss the deteriorated state of the finances of the company and foster a way to improve on it. He noted that prior to that time; CAL under the management of Mr. Okeke had never called any general meeting or board meeting of the company.

Barr. Nwasike pointed out that by their relationship with Mr. Okeke and CAL no evidence of crime, or even remote suspicion of crime ever arose to warrant the intervention of the EFCC.  

He further said that his client has gone through untold emotional and psychological suffering in the hands of the EFCC and Mr. Okeke despite his health condition and is therefore demanding compensation of N160M while maintaining that Mr. Okeke returns the 1,020,000.00 (One Million and Twenty Thousand United States Dollars) that he surreptitiously paid to himself as salary or earnings as the Managing Director without the authority of the Board and directors and damages.

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