The Department of State Services (DSS) has arrested two prominent Abuja-based businessmen, Abubakar Sheu and Ibrahim Isyaku Mahuta, on allegations of defrauding major federal government contractors and financing terrorism. The suspects are currently in DSS custody, and a Federal High Court in Abuja has ordered the freezing of their 12 bank accounts believed to contain proceeds from their illicit activities.
According to court documents, Abubakar Sheu is accused of using two companies, A. A. Gano Ventures and A. A. Zaks Global Concept, to defraud contractors bidding for federal government projects. The DSS's preliminary investigation revealed that Sheu allegedly conspired with top officials in various federal ministries and agencies to fraudulently obtain funds from these contractors. The funds were reportedly funneled into five bank accounts at Ecobank, FCMB, GTBank, and Sterling Bank.
The DSS claims that the activities of Sheu and his associates pose a significant threat to national security. In response, Justice Peter Lifu granted the DSS's request to freeze the five bank accounts for 60 days, allowing the agency to conduct a comprehensive investigation. The court order was based on provisions of the Terrorism Prevention and Prohibition Act of 2022.
Similarly, the second suspect, Ibrahim Isyaku Mahuta, and his company, Majmahuta Energy Company Limited, are accused of defrauding one Moses Drambi of N48.7 million under the guise of shipping petroleum products from Ghana to Nigeria. Mahuta allegedly deposited the funds into accounts at UBA, Ecobank, and Providus Bank. The court has also ordered the freezing of these seven bank accounts for 60 days.
Justice Lifu emphasized that freezing the accounts is crucial for the DSS to unravel the extent of the criminal activities, arrest the perpetrators, and ensure they are brought to justice. The motions were presented by DSS lawyer Yunusa Idris Umar under sections 5(3) and 81(1) of the Terrorism Prevention and Prohibition Act 2022.
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