Goddy Nnadi, PEF GM, granted bail

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has
ganted bail to Goddy Nnadi.
Nnadi who is the general manager (corporate services) at the Petroleum Equalisation Fund (Management) Board,was earlier arrested for running a private business against civil service rules and regulations.

TheCable learnt ICPC operatives arrested Nnadi at PEF office in Abuja on Monday.

The commission is said to be investigating a hotel in Owerri, Imo state capital, which TheCable previously reported was owned by Nnadi, against the provisions of the public service rules.

The rules which guide the conduct of public officers in the country state that while these officers are not prohibited from holding shares in both public and private companies, “they must not be directors in private companies”.

Documents seen by TheCable show that the hotel said to have been established in 2015 had its bank account linked to Nnadi’s bank verification number (BVN).

He was subsequently arrested by the Special Presidential Investigation Panel for the Recovery of Public Property (SPIP) on allegations of corrupt enrichment, living beyond his legitimate earnings and abuse of office.

The Economic and Financial Crimes Commission (EFCC) later got involved in the case and filed charges bordering on conspiracy, bribery and money laundering against him at a federal high court in Abuja.

In December, the court granted the EFCC’s application for a final forfeiture of six properties owned by the PEF GM.

The EFCC told the court the properties are “reasonably suspected to be proceeds of unlawful activities”.

While the forfeited properties were mostly in Abuja, TheCable understands the hotel in Owerri was not part of the scope of the EFCC investigation.

Rasheedat Okoduwa, ICPC spokesperson, had told TheCable that she was not ware of Nnadi’s arrest.

“I don’t have that information (about his arrest) right now,” she said.

“The ICPC has numerous cases with various persons and I don’t have all of them in my mind. It may be possible, it may not be possible, I don’t know.”