Imam condemns Duru’s petition to Buhari over Guarantee Pensions

Nze Chidi Duru

Nze Chidi Duru

Following claims by a former member of the House of Representatives, Nze Chidi Duru, that he was being persecuted by the National Pensions Commission (PenCom) and the Economic and Financial Crimes Commission (EFCC), one of those whose names featured prominently and Chairman of the First Guarantee Pensions Limited (FGPL) Board, Alhaji Kashim Imam, has debunked the claims that Duru was the chief promoter of the company.

Also, another dramatis personae in the saga, former House of Representatives Speaker, Ghali Umar Na’Abba, has however declined to be involved in the bitter struggle for the ownership of the company.

He told The Guardian on telephone that he was more concerned with resolving the quarrels between the parties concerned.

However, Imam says if Duru believes he is in the right concerning what went on in the company since its establishment, he should submit himself to the EFCC for investigation rather than speak from hiding.

In it all, the Director-General, Chinelo Anohu Amazu, has maintained a studied silence, not even returning a call made to her telephone line.

Duru, it would be recalled, had complained of being witch-hunted and locked out of the company he set up by combined forces, including PenCom and some other investors. Imam, however, said he was surprised the former House member was not in jail for alleged fraudulent activities.

Duru had written a 182-page petition to President Muhammadu Buhari detailing how PenCom was involved in the circumstances leading to his ouster from the company. He also wrote another petition to the House of Representatives, but has not shown up to defend it.

His sister, Mrs. Chinyere Ekweonu, who is a director in the Federal Ministry of Justice, was arrested in the stead of Duru by the EFCC because she stood bail for him and he was nowhere to be found; but she was freed from detention two weeks ago after pressure was brought to bear on the anti-graft agency.

At the weekend, Imam told journalists that Duru betrayed the trust and confidence reposed in him, adding that it was a mystery to him that Duru is still walking free four years after all the alleged fraudulent activities were investigated and established in FGPL, in addition to his indictment by PenCom.

Imam said, among others: “By 2011 when Duru exited the company after eight years following his indictment, the company’s account was in red to the tune of N385 million. But following the intervention of PenCom, being the regulatory body, an interim management was formed and the assets of the company grew to about N140 billion with a profit of over N3 billion just within four years.”

“Technically speaking, Duru cannot even be said to have invested a dime in the business. But we did not know this, until much later. The deposit we were supposed to make, that is the initial capital, was never contributed by him. I agree with you, we ought to have verified this ab initio, this we did not do based on trust. But like I said, findings later showed that all the cheques he issued for the payment of his own share of the initial deposit were never presented for clearance. As a matter of fact, another of his friend, Nnamdi Anammah, a supposed investor, is also guilty of the same thing.

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  • Whitney Ebube

    This articles holds no water as it is vague and lack evidence of facts to substantiate your claim. if you are actually the promoter of the company, why not publish your license and evidence of you been the promoter of the company. Mr. Kashim get your facts write before going to the media before you implicate yourself the more.

  • Whitney Ebube

    When a man is drowning, he just kicks and kicks the water, as he can’t swim. Your article lacks merit as you do not have facts.

  • Christopher Moka

    How many chairman do first guarantee pension have?. PENCOM says the interim chairman is Issa Aremu and Kahism says he is Chairman. Confusion everywhere. Just a fraud to take over a business you do not own.

  • Whitney Ebube

    Mr. Kashim is a fraudster. He is not the Chairman of FGPL and he falsified company documents at CAC against a court order. He is the one that should be in jail and not the orther way round. Nze Duru is the promoter of the company and has proved it by showing the license he got to start the company with his name on it.

  • Whitney Ebube

    As much as I know, in June 2004, Nze Duru set up FGPL with four other people making the initial investors to be five. Kashim investment in FGPL was not until 2005 with other 31 shareholders. This brings the number to 37 Shareholders and it is Nze Duru that grows the company to profitability in 2010 when the first dividend was declared. Then Kashim and 2 other directors began to scheme to take over the company. Then in 2012 Kashim forged document at CAC and made himself chairman of FGPL without any shareholders meeting or directors meeting which was against the judgement of Justices Okeke and Okorowo.. Kashim is a lawless person I have ever seen. He is suppose to hide his face in shame. He is jittery because FGPL case has been brought to the notice of President Buhari. He knows that this present government headed by President Buhari will not condone any criminal and fraudulent acts that is why he is opening his mouth and be talking without facts. The law will soon catch up with him.