Mrs.Titi Atiku, wife of former Vice President, Atiku Abubakar, on Wednesday lamented before an Ikeja High Court how her former errand boy, Nsikak Akpan Jacobs whom she made the Managing Director of her company, THA Shipping and Maritime Services, sold her property for N918m and used the money to fund his gubernatorial campaign in Akwa Ibom State.
Mrs Atiku who testified in a suit which the Economic and Financial Crimes Commission (EFCC) instituted against Akpan and one Abdulmalik Ibrahim and Dana Motors maintained that she made Akpan the Managing Director because he was a pastor and someone she trusted.
The wife of the former Vice President further told the court that Akpan went as far as collecting a huge loan from First Bank and used THA Shipping as collateral.
“He did this without the knowledge of the Board of Directors. He started selling the company’s properties when the bank started asking for their money,” she said.
Lamenting further, Mrs. Atiku said, “I did not know that it would turn out like this, or I would have documented all our transactions.”
“I admit I don’t have any documents to prove that I invested money into the company, Akpan cannot deny that I that I did not invest money. He is guilty from head to toe,” Mrs. Atiku declared.
Mrs. Atiku further told the court that she made Akpan the Managing Director pending when her partner, Fred Holmes who had 25 per cent shares in the company would finish his contract with Julius Berger.
“Akpan did everything on behalf as I was still in the civil service as at that time. I could not leave my post then.”
“Akpan gave me a breakdown of expenses to be incurred and I still have the breakdown, but he never signed it. Being the one with the largest share, I contributed N49m to buy the land situated at No 63A Amuwo Odofin Lagos, while my German partner Holmes, brought two cranes from Germany.”
“He even at one point forged my signature. We put a Caveat Emptor on the property warning prospective buyers, but Dana Motors went ahead and bought the property claiming that they had an agreement with the Managing Director to collect back their money should any litigation arise.”
“My lawyer later got to know that the property was sold for N918m, which Akpan claimed was used to offset the loan he collected from the bank and also pay off other loans. All this he did without my knowledge,” Mrs. Atiku maintained.
Justice Oluwatoyin Ipaye thereafter adjourned the matter till July 6 for continuation of trial.
The defendants are facing a 14 count charge of conspiracy, stealing and fraudulent conversion of properties belong to THA Shipping Maritime Services Ltd.
The company was formed in 2000 with 49 per cent shares to Mrs Abubakar, 25 per cent to Holmes and 25 per cent to Akpan Jacobs.
Akpan Jacobs who doubled as the company’s managing director and secretary was however alleged to have gone to the Corporate Affairs Commission where he altered the share arrangement in his favour.
He was alleged to have forged a company board resolution redistributing the shares ownership giving himself 70 per cent, 15 per cent to Mrs Atiku, and 15 per cent to Holmes.
With the shares redistribution, Akpan Jacobs was alleged to have fraudulently assumed full ownership of THA Shipping and subsequently sold a property worth N918m belonging to the company to Dana Motor Nigeria Ltd.