Court remands Wakil, ex-minister, over PHCN insurance ‘fraud’

A federal capital territory high court has remanded Mohammed Wakil, former minister of state for power, in the custody of the Economic and Financial Crimes Commission (EFCC) over allegations of corruption.

Wakil, who was arrested by the EFCC at his Abuja residence on Sunday, was arraigned on Monday before S.B. Belgore, a judge, on a two-count charge bordering on corruption and abuse of office.

He was arraigned alongside two companies, Corozzeria Nigeria Limited and Pikat Properties Nigeria Limited.

According to the anti-graft commission, the former minister allegedly received N148 million as gratification from Bestworth Insurance Brokers Limited out of the N27,188,232,208 approved outstanding insurance premiums and claims of deceased and incapacitated staff of Power Holding Company of Nigeria (PHCN).

When the charges were read, the former minister pleaded “not guilty”.

B.C. Igwilo, counsel to the defendants, then urged the court to grant bail to the first defendant (Wakil).

“My lord, our humble application is for the first defendant to be admitted to bail,” he said

However, Benjamin Manji, prosecution counsel, opposed the bail application.

He said the defendant has to bring a formal application before the court.

Manji also asked the court to set a date for commencement of trial, and for the remand of the defendant at a correctional centre, pending trial.

The court adjourned the matter till March 31, 2021, for determination of bail application.

The defendant was also remanded in the custody of the EFCC.

Wakil’s arrest comes six years after investigations by TheCable had revealed retrospective payments of insurance premiums totalling N27 billion by the Bureau of Public Enterprises (BPE) for “cover” not provided to the defunct Power Holding Company of Nigeria (PHCN).

On March 1, 2021, the EFCC arraigned Benjamin Dikki, former director-general of the BPE, on a four-count charge of allegedly receiving gratification worth about N1 billion from Bestworth Insurance Brokers.