Cecilia Ibru pleads guilty, sentenced to six months in prison and forfeits assets | Welcome to Linda Ikeji's Blog

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Friday 8 October 2010

Cecilia Ibru pleads guilty, sentenced to six months in prison and forfeits assets

 Mrs. Cecilia Ibru has been convicted of fraud by a federal high court in Ikoyi, Lagos.

The embattled for managing director of Oceanic Bank Plc entered a plea deal with EFCC prosecutors and was subsequently sentenced to a six-month term in jail but will have to forfeit over N191 billion in cash and assets to the government.

The former managing director was charged for several financial offences including money laundering, wire fraud and abuse of office amongst other after she was sacked by the central bank in the wake of the last global melt down.

 
She was also evicted from her family home on Queen’s drive following her removal as managing director of Oceanic Bank. Mrs. Ibru had fraudulently leased the property to the bank as a ‘Guest House’ for her exclusive use at a ridiculously inflated rate and subsequently lost the property to the bank when she was eased out as GMD.

Details of the plea deal has not yet been made public but the assets traced to her in the Upper Marlboro area of Maryland, United States are registered either to her son’s wife, Kemi Da silva, her son, Obaro or daughter Janet. 
 

The Assets are:
 1. 4155 Chariot Way purchased for $452,508,00 on March 12, 2009 and registered to Anita Da silva Ibru,
2. 4145 Chariot Way purchased for $440,105.00 and also registered to Anita Da silva Ibru on April 14, 2009.
3. 4139 Chariot Way purchased for $451,629.00 and also registered to Edesiri Onatejerohene Ibru on April 21, 2009.
4. 4149 Chariot Way purchased for $473,657.00 and registered to Obaro and Hirut Ibru also on April 21, 2009.
5. 4141, Chariot Way purchased for $441, 790 on April 13, 2009 for herself.
6. 4143 Chariot Way Purchased for $439,362.00 on April 13, 2009 for herself also.
7. 14605 Hawley Lane purchased for $399,990.00 on July 22, 2008 and registered to her daughter, Janet Ibru,
8. 14630 Hawley Lane purchased for $ 460,703.00 May 17, 2008 and registered to Janet Ibru.
9.14721 Argos Place purchased for $457,950 and registered to Janet Ibru on October 28, 2008.
10. 14719 Argos Place purchased for $451,840.00 on November 26, 2008 and registered to Janet Ibru.
11. 11300 Dappled Grey Way purchased for $987,949.00 on October 7, 2008 and registered to herself.
There are also about 57 properties in Lagos Abuja and Port Harcourt. They include:
1. 15,000 square metres of land at Okunade Water Front, Victoria Island in Lagos.
2. 12-storey Tower on one hectare of land at Ozumba Mbadiwe Water Front, Lagos
3. Three residential Towers in Port Harcourt GRA.
4. Residential block with 19 apartments on 34 Bourdillon Road, Ikoyi
5. 35B Isale Eko Avenue, Dolphin Ikoyi.
6. 103 Hectares of land in Lagos.
7. 3, Okotie-Eboh, SW Ikoyi.
8. 10A Sobo Arobiodu Street, Ikeja.
9. One Storey building at 50 Marina, Lagos
10. Seven properties on 5A George Street, Ikoyi.
11. 4B, 5B George Street, Ikoyi.
12. Metro Plaza Building in Abuja where the British Visa Section is located.
Some of the companies which she used to launder funds include Cloudy Heights, Enifor, Prisky Gold, Bliss Bloss, Velvox and Circular Global, which she used to acquire over 275 million shares in First Bank Nigeria Plc for N275,795,139.

She also used the companies to acquire over 64 million shares in Union Bank of Nigeria valued at 64, 218,000; 93 million shares in the United Bank for Africa for N93,750,000; Oceanic Bank Plc, N1,076,220,421 worth of shares.

Other acquisitions include, 13 million shares in Oando for N13, 200,000 and another 388 million units of shares in other companies, 600 million shares in BGL Plc.

Another company linked to her, Prisky Gold was used to purchase 48.8 million shares in Access Bank Plc, 8,140,500 in Dangote Flour, 12,480,000 in Dangote Sugar Refinery, 12.500,000 in Fidelity Bank, 27,434,791 shares in First Bank, 25,316,400 in Japaul Oil, 10, 280,000 in Zenith Bank, and 200,000,000 shares in Transcorp Plc.

Africa Lloyd, another company traced to her purchased 431,201,702 million shares of Oceanic Bank.


Source: The Will Nigeria

60 comments:

Prism of an Immigrant said...

Wow, how can only one person steal all this money for themselves????

http://lookingglassofanimmigrant.blogspot.com/

DUDU said...

Linda, note that it is not N150mn but N150bn

google babe said...

i'm speechless, n to think she 'used' 2 b 1 o my role models. just pitiful.

Anonymous said...

Only 150million and 6 months??

That is less than a slap on the wrist. It is good to have money in Nigeria o!!

Anonymous said...

I hope she burns for what she did to us innocent n working little people! 6 months in jail is nothing but am happy all these assets were confiscated from her. She already came from a rich family so this is pure greed and selfishness at its peak. If she dies in jail, it does not even compensate for the evil her type commit everyday! I hope all the ex-governors n IBB n OBJ dem will follow suit asap!!! I lost so much money that I borrowed to invest in the stock market that these pigs inflated for their own good n now am in a big fix, n no help in sight bc of these animals that are disgised as humans. My husband thinks am a bit harsh but when u find urself in my position, you'll be mad at the beasts too. That's my opinion n everyone has his/her own.

Myne said...

So she knew what she was doing was wrong? Chai, how the mighty are fallen!

Anonymous said...

i'm appalled at this old woman's behaviour. " What does it profit a man to gain the whole world and lose his own soul" enuff said
mscheeeeeeeeeew!!!

Anonymous said...

and she only got six months??? wow...the things money and "knowing someone" can do.... she should get like 10 - 25 for that... it wasnt small money... she basically ran a bank to the ground and tried to flee... so if they catch someone doing yahoo yahoo the person's jail time should probably be one week!

Anonymous said...

SADDDDDDDDDD!!!! They should arrest more! Includung the politicians! Its about time we enforce some of the laws we have in the books!

Anonymous said...

Linda its N150 BILLION not Million!

Surprise said...

Whao! just six months for all these stealing. I beg I wan steal too o and I go do plea bargaining if I am caught. But the fact remains that she don become an ex convict.

Beyond said...

SO, for all these....naa only six months in jail dey come give am...Justice INDEED!...mschhew!!!

Joohls said...

are you serious? my pastor was always preaching about this woman when i was in nigeria. she not try at all

JUST BEING ME said...

Whatever a man sow, he shall reap....

pearl said...

very good for her.serves as a deterrent to both existing and potential MDs.we believe other verdicts are still coming.cecilia go and suffer for a while.

truth said...

:( Once upon a time, she was my 'career' role model.

Anonymous said...

R u Fucking serious six months in prison for allegedly making innocent people penny less come on ikoyi high fucking court can do better than that. Am guessing they must have paid some official off

silk said...

oju ole re, ole! hope i got dat right. y not 25yrs in prisonment? is it bcos she is cecelia ibru?

Anonymous said...

kai!!how the mighty have fallen!!!and to think people like Babaginda are still walking about freely and even want to rule the country again!!My God is not asleep o

Anonymous said...

hhhmmmmmmmmmm a tire .What shalL it profit a man if he shall gain the whole world n loose his soul in hell

Anonymous said...

God help us. GREED! WILL NOT KILL US

Unknown said...

One person, all these assets, while millions of Nigerians can't afford square meal. This can only happen in the land of the ignorants.

DUDU said...

Just confirmed the real figure on Channels tv- It's officially N191bn

JJ.D said...

may GOD PUNISH HER ABAUNDANTLY
FEMALE THIEF.
6MONTHS ISNT ENUF AS FAR AS CONCERNED.

Anonymous said...

Wow, I must say, I didn't think the Nigerian law system had it in them. 6 months is a joke, the French trader who was convicted was given 5 years but we start somewhere I guess..

Anonymous said...

Oya shey the bubble has burst she should pay her way outa this one! Mscheew. One shuld learn to cut ones coat according to their size. What was she using all these things for? Vanity upon vanity, all is vanity.

Anonymous said...

I know some people would say that her jail term is too small. But honestly she had to forfeit 150 billion naira in assets. Also for such a public figure to go to jail is so shameful in Nigerian society,that even if she served one day that is the end of her. I am proud of our Justice System. This would put fear into more corrupt individuals. We are moving forward.

Anonymous said...

I know some people would say that her jail term is too small. But honestly she had to forfeit 150 billion naira in assets. Also for such a public figure to go to jail is so shameful in Nigerian society,that even if she served one day that is the end of her. I am proud of our Justice System. This would put fear into more corrupt individuals. We are moving forward.

Anonymous said...

I know some people would say that her jail term is too small. But honestly she had to forfeit 150 billion naira in assets. Also for such a public figure to go to jail is so shameful in Nigerian society,that even if she served one day that is the end of her. I am proud of our Justice System. This would put fear into more corrupt individuals. We are moving forward.

Anonymous said...

Greedy bitch! This woman should ve been jailed for life.. This is one of d reasons why Nigeria is still a fucked up country filled with Aliens alike.. Bet y'all will still see their children and treat them like kings and queens, the funniest thing is these niggaz dont even marry nigerians, their picking damn british and ethopian chicks too share the wealth of nigerians with, and waste their wealth on holidays in the most luxurious parts of the world, spending ur wealth while adding to other country's economy while nigerian's economy go down the drain, while the real owners of the wealth nigerians suffer in silence. Time to wake up y'all, this is definitely not our forefathers fought and died for. FUCK THE IBRUS, YES, I MEAN ALL OF THEM!

::::::S::::::D:::::: said...

She bought justice. Poor and desperate folks get laced with tyre for stealing pennies, but this big thief of a woman only got six months? The law is an ass, a joker, and an idiot. They were too lenient on her. They should have served her Sharia Law and chop away her hands. Imagine if a Mr or Mrs nobody committed same offences and wrecked same havoc, whoever would have been put away for many years, not months. N150 million forfeiture is too lenient. She should have been sent down for at least 10 years. There's no deterrent for other bankers not to follow in her footstep. She won some award in London for being Naija's best banker or whatever. I watched a Youtube video where this woman was talking “good” and about corporate banking in Nigeria, etc. I thought this woman was amongst the decent ones. I feel she and her legal team disclosed only assets that could be traced. The US government should prosecute her, her children and daughter-in-law for money laundering. She was only found out due to the global recession. There are many bankers, pa$tor$, and bi$hop$ who are as rotten as this thieving Mrs Cecilia Ibru.

Anonymous said...

Common thief, agboro, bamza, onyeoshi, ole.

Shadenonconform said...

6 months pere?

Kay said...

While I sympathise with Mrs. Ibru, I do realise the iron fact that disciples of corruption will in the long run disgrace themselves in any society like Bernard Madoff, Kenny Martins, etc. Greed does not pay. It never has, and never will!

Anonymous said...

Wow. I hope people learn from this!



http://temiville.wordpress.com/

NINA said...

old woman like this..what does she want to do with all these assets...some nigerians are innately evil, and their consciences have been seared with hot iron. i am also surprised she wasnt investigated here in america..i have lived in the USA long enough to know that buying so many houses on one street stinks to high heavens, and with the housing crisis she should have been probed..i can swear the FBI is building a monumental case against her..they do not play...what a piece of trash..is this what nija does to ppl...i am mortified!!!! oya her arrogant sons obaro and oboden are next...

Anonymous said...

what a shame ... vanity upon vanity ........what is she doing with all this wealth.... you can only sleep or be in one place at a time.... she deserves to serve a longer term
wendu

Ada said...

this country just scares me...

Tyra Banky said...

Ole aji bole. 6months is too small.. it should be 10 years. What does she want to do with all the properties? Biko, put the obese woman for kirikiri, make she shed some fat small.

What will it profit a man to inherit the earth and loose heaven?

IBB and co will follow too in Jesus name... Make una help me say amen now! AMEN OOOOOOOO.

Anonymous said...

wow 6 months pere? O ga o...so Adegbola to will get like 6 or 12 months. Is ok. O ti daa...Nigeria we hail thee

Anonymous said...

She mismanaged $6 billion dollars, and forfeits $1 million? Good gracious. Which brainless fuck presided over this case?.. Cos he/she certainly needs to be killed.

Anonymous said...

What a man can do a Woman can do better.

Anonymous said...

Convicted of fraud? Wow. Her step mother would be laughing at her.

Anonymous said...

ole ajibole! ole ajibole!! ole ajibole!!! shioooo!
shame on u madam. u worse pass yahoo yahoo boyz. make FBI put eye for this matter, na life sentence u go get. barawo, onye oshi. lol

Femiluv said...

Wow, corruption at its best. I had so much respect for this woman back in the day!!

nnenne said...

did she think she will go to hell with all that money and assets...shame on her...i have no words totally speechless!!!

Truthfulness said...

The Ibrus are very rich, so i don't think she did it. I guess she admitted it in order to receive a lenient punishment.

My 2 cents.

Anonymous said...

culled from punch newspaper via gidinozie.com
Assets to be declared would be some of her vast assets all over the world, find a list below of the ones we already know about.

1. Good Shepherd House, IPM Avenue , Opp Secretariat, Alausa, Ikeja, Lagos (registered in the name of Ogekpo Estate Managers)

2. Residential block with 19 apartments on 34, Bourdillon Road , Ikoyi (registered in the name of Dilivent International Limited).

3. 20 Oyinkan Abayomi Street, Victoria Island (remainder of lease or tenancy upto 2017).

4. 57 Bourdillon Road , Ikoyi.

5. 5A George Street , Ikoyi, (registered in the name of Michaelangelo Properties Limited),

6. 5B George Street , Ikoyi, (registered in the name of Michaelangelo Properties Limited).

7. 4A Iru Close, Ikoyi, (registered in the name of Michaelangelo Properties Limited).

8. 4B Iru Close, Ikoyi, (registered in the name of Michaelangelo Properties Limited).

9. 16 Glover Road , Ikoyi (registered in the name of Michaelangelo Properties Limited).

10. 35 Cooper Road , Ikoyi, (registered in the name of Michaelangelo Properties Limited).

11. Property situated at 3 Okotie-Eboh, SW Ikoyi. 12. 35B Isale Eko Avenue , Dolphin Estate, Ikoyi.

13. 38A Isale Eko Avenue , Dolphin Estate, Ikoyi (registered in the name of Meeky Enterprises Limited).

14. 38B Isale Eko Avenue , Dolphin Estate, Ikoyi (registered in the name of Aleksander Stankov).

15. Multiple storey multiple user block of flats under construction 1st Avenue , Banana Island , Ikoyi, Lagos , (with beneficial interest therein purchased from the developer Ibalex).

16. 226, Awolowo Road , Ikoyi, Lagos (registered in the name of Ogekpo Estate Managers).

17. 182, Awolowo Road , Ikoyi, Lagos , (registered in the name of Ogekpo Estate Managers)

18. 12-storey Tower on one hectare of land at Ozumba Mbadiwe Water Front, Victoria Island .

19. 5, Adeola Odeku Street, Victoria Island, Lagos (registered in the name of Casi Properties & Investment Ltd).

20. 18A, Adetokubo Ademola Street , Victoria Island, Lagos (registered in the name of Casi Properties & Investment Ltd).

21. 270, Ozumba Mbadiwe , Victoria Island, Lagos (registered in the name of Casi Properties & Investment Ltd)

22. 270, Ozumba Mbadiwe , Victoria Island, Lagos (registered in the name of Ogekpo Estate Managers Limited).

23. 15,000 square metres of land at Okunade Water Front, Lekki Peninsula .

24. 7,000 square metres of land at Okunade Water Front, Lekki Peninsula – (registered in the name of Melake Properties Limited).

25. 8,000 square metres of land at Okunade Water Front, Lekki Peninsula – (registered in the name of (Casi Properties Limited). 26. 1,000,000 square metres of land in Lekki.

27. 101 hectares of land along Lekki Expressway behind Chevron Nigeria .

28. 103 hectares of land bought from Dom Gas

29. Plot 5, Igbo-Efon, Off Lekki/Ajah Expressway, Victoria Island, Lagos by 1004 (registered in the name of Casi Properties & Investment Ltd)

30. Block 6, Flat 1 &2, Femi Okunnu H/Scheme Phase IV- Lekki (registered in the name of Oceanic Homes Savings & Loans Ltd)

Anonymous said...

31. One storey building at 50 Marina , Lagos .

32. 10 storey building at 60 Marina , Lagos .

33. 60, Marine View, Apongbon, Marina , Lagos (registered in the name of Dele Oye & Associates)

34. 10, Sobo Arobidu Street , Ikeja, GRA (registered in the name of Jeedab Fibre Limited).

35. Property at 10A Sobo Arobiodu Street , Ikeja (registered in the name of Chiaroscuro Limited).

36. AP Filling Station (Beside Former Hotel Bobby) Onipanu Lagos , (registered in the name of Vivi Oil Investments Limited).

37. Building at 154, Ikorodu Road , Lagos (registered in the name of Casi Properties & Investment Ltd).

38. Ilemba Hausa Road , Ajamgbadi, Lagos (registered in the name of Vivi Oil & Gas Company Limited).

39. Land at Iyana Ipaja Round About, Iyana Ipaja, Lagos , (registered in the name of Vivi Oil Investments Limited).

40. Building at 7, Randle Road , Apapa, Lagos , (registered in the name of Ogekpo Estate Managers Limited)

41. Block 34, Flat 6, LSDPC Housing Estate, Ebute-Metta Lagos (registered in the name of Ogekpo Estate Managers Limited)

42. Three residential towers at Port Harcourt , GRA. 43. 22 Sani Abacha Way, Port Harcourt, GRA (registered in the name of Velvox Investment Company Limited).

44. Metro Plaza Building , 991/992 Zakari Maimalari Street , Central Area, Zone 5, Abuja , (registered in the name of Abinof Food Company Limited).

45. The 4 Floor Building at Herbert Macaulay Way , Wuse Zone 6, Abuja (registered in the name of Casi Properties and Investment Ltd).

46. Metro Plaza Building, ANNEXE B, Zakariya Maimalari Street, Cadastral Zone, AOO, C.B.D, Abuja (registered in the name of MST Properties West Africa Ltd).

47. Flats 1-4, Block D33, Abuja Games Village , Abuja (registered in the name of Convent Trade & Services Limited).

48. Block D33 (Flat 1-4) Games Village , Abuja (registered in the name of Casi Properties and Investment Ltd).

49. Block B40, Flat 5 & 6, Zone 3, Gymnastic Games Village (registered in the name of Oceanic Homes Savings & Loans Limited).

50. Executive Guest House, 4 bedroom Bungalow, Ndanuba Street , Maitama, Abuja (registered in the name of Ogekpo Estate Manager Limited). 51. Executive Guest House, Ali Akilu Crescent , Asokoro, Abuja , (registered in the name of Ogekpo Estate Managers Limited).

51. 29 Real estates in Dubai

52. Seven residential properties in Dubai

53. 15 Real Property in South Africa

54. Other properties in London, England

55. Abridged Shares In listed Nigerian Companies without limitation

dis woman dey crase?Wetin she wan use am do?Where is her hubby in all of this...abi he didnt know?

Anonymous said...

International Thief Thief: How British Banks Are Complicit In Nigerian Corruption - A report by Global Witness | October 2010.
http://goo.gl/ZqaG [PDF].

Anonymous said...

I am not quite sure what purpose jailing her will serve- are they really sure she stole money? She is already a very wealthy woman in her own right- admittedly, renting out buildings you own to your own bank and making money out of the rent is not a done thing but I think we readers on this blog should be very very careful before jumping to pass judgement on this woman- you can really only accuse others of what you yourself are doing.

oscar said...

This old Woman is a yahoo QUEEN worse than a murderer . She is evil, very heartless and greedy. The love of money is the root of all evil. Yahoo Queen, you are the worst Nigerian ever, may you rot in hail or jail.

CC said...

She gets 6 months that she will get to serve in a private hospital (Reddington in VI I believe) so for 6 months she will feign illness and get to visit with friends and family and eat good food and get fatter.

So what if she forfeits 191billion naira in assets? She still has a ton of money hidden, how else would her son get to snort my month's salary worth of coke every weekend?

This judgement just goes to show you that if you're going to break the law, break it in a big way, because nothing go happen

Anonymous said...

And dem talk say she be redeemed christian church of God member (Born Again.)???? I no say some pple go say may I no judge am; say becos she be church goer. But my dear, bible talk say some people done becos of riches leave the faith. Bible come talk say make de pple wey get riches no behave arrogantly, say becos money get wings and im dey fly. Abeg, may we search our scriptures before we scream "judge not!!!!" Madam Cecilia abi na auntie Cecilia, u fore gi all those houses to people wey no get accomodation, and de tin be say dem no go repay you sha, but ur reward go plenty for heaven. True, the good Bible wey be the word of our good God talk am. But e be like say u no get advisers but ass lickers wey go dey tell you "yes madam" for errytin. Well, only God knows best and to Him be all the glory.

Anonymous said...

And dem talk say she be redeemed christian church of God member (Born Again.)???? I no say some pple go say may I no judge am; say becos she be church goer. But my dear, bible talk say some people done becos of riches leave the faith. Bible come talk say make de pple wey get riches no behave arrogantly, say becos money get wings and im dey fly. Abeg, may we search our scriptures before we scream "judge not!!!!" Madam Cecilia abi na auntie Cecilia, u fore gi all those houses to people wey no get accomodation, and de tin be say dem no go repay you sha, but ur reward go plenty for heaven. True, the good Bible wey be the word of our good God talk am. But e be like say u no get advisers but ass lickers wey go dey tell you "yes madam" for errytin. Well, only God knows best and to Him be all the glory.

Ellagold said...

Wonder why they all feel remorseful when they are caught, didn't they know it was a crime when they were committing fraud?

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