A group of intellectuals, business moguls and concerned citizens of Oba have come out hard on those behind news reports, videos and voice notes claiming that Engr (Sir) Augustine Emelobe has a case to answer at the Economic and Financial Crimes Commission EFCC and cannot contest to be the Igwe of Oba Kingdom.
The group, under the aegis of Oba Think Tank in a Press Release, stated that the only time Chief Emelobe had any stint with the EFCC was between 2019 and 2020, when he refused to dash 5 million naira belonging to Oba Microfinance Bank to Chief Noel Ezenwa, the former Regent of Oba. Irked by Emelobe’s refusal to dash him the money, he decided to drag Emelobe, who was the Chairman of the bank, to the EFCC in the far away Benin Division.
Hear the rest of the story, “Between 2019 and 2020, the Oba Microfinance Bank was running at a loss, so the Managing director of the bank, Mr Akor, approached the chairman of the bank, Engr Augustine Emelobe and made an offer to give his company, some money for a return interest of 20%. He considered it more beneficial to the Microfinance bank instead of leaving their money in some banks without meaningful interest during Covid 19 lock down. So the bank entered into a business agreement with his company to loan them 100 million, for 20 million naira interest at maturity. This was to enable the bank raise money to carter for her overhead cost. He agreed, and they signed. The statutory signatories to that money were just three directors of the Oba Microfinance Bank.
Engr Emelobe’s company at the end of the loan tenure paid back the loan and interest at maturity without delay.
The expired regent, Noel Ezenwa, who is one of the directors of the bank, then approached him (Emelobe) to give him 5 million nairas out of the 20 per cent (20 million naira interest), but he refused and said it was meant for the bank.
The regent decided to write a petition to Benin EFCC, but Oba Microfinance Bank is not under Benin jurisdiction but under Enugu. But because his nephew works in Benin EFCC, he planned to use the nephew to write a petition, using an indigene of Benin as a depositor at the bank.
He wrote the petition and the Chairman and himself were invited to Benin. Engr Emelobe challenged the jurisdiction of the EFCC at the court, and at the end of the day, they were released and handed over to Enugu.
Enugu investigated the bank and cleared the bank including the managing director of any sharp practices and without any indictment on the chairman of the bank. Besides, they pointed out categorically that the loan had not matured, and what matters was that he would pay the interest when the loan matures, so he hasn’t defaulted in any way. EFCC gave them a clean bill of health. At maturity, he paid 120 million naira. That’s all and case closed .
Noel Ezenwa and Darlington Agha are now falsely claiming that EFCC is after him just because they are worried he is going to win in the Igweship elections. EFCC has investigated the case, and there is no case to answer. The bank is stable and Engr Emelobe remains the chairman of the bank till date without any financial misappropriation .
That is what they are trying to use to blackmail him in the Igweship election coming up this Saturday March 15, 2025.
It is important to note that when other members of the Board of Trustees signed, Engr Emelobe refused to sign, because he was in Court. Why was he in court? Because of his integrity, they wanted to rub in the mud. So, EFCC said he doesn’t have any case to answer. That’s all.
During Igweship screening, the matter was brought up by Darlington Agha who was coincidentally the head of the screening committee, Engr Emelobe made it clear, that Darlington Agha and Noel Ezenwa who registered the matter with EFCC were asked by the directors of the bank to go back to Benin and close the case. However, they are scared of doing that now because what they planned didn’t go as expected. So they are the ones that have unfinished business with EFCC.
Emelobe made it clear to the audience during the screening and that if there was any offence he committed, the EFCC should come for him, not for him to report himself to the EFCC.
And the man has been doing his business, there is no report that he committed any fraud. Just that they want to frustrate his aspirations to leading Oba to a promised land with propaganda, having seen he is the people’s choice for the Igwe Okpoko the 2nd.
Those behind this are Bar Vin Ananti (former contender of the Igweship stool), Ukadike Ibeabuchi, Benneth Chibueze (Ochudo) and Noel Ezenwa.
The man, Engr Emelobe, obviously does not have any case with EFCC”, the group stated.