‘Defrauded’ on N918 million, Atiku’s wife seeks justice

titi-abubakar-2

The wife of a former Nigerian vice president, Atiku Abubakar, on Friday told a Lagos court how a business partner defrauded her of N918 million.

Titi Abubakar, who testified before Justice Oluwatoyin Ipaye, said one Nsikakabasi Akpan-Jacobs, identified as a pastor, sold a property belonging to her company and used the proceeds to fund his governorship ambition in Akwa Ibom State.

“I am here because I want Justice,” Mrs. Abubakar told the court.

“All my investment and even profit is gone. I want this to serve as a deterrence to other fraudsters that they can’t defraud people and not face justice.”

Akpan Jacobs; Abdulmalik Ibrahim, a lawyer; and Dana Motors were arraigned by the Economic and Financial Crimes Commission on a 15 count of conspiracy, stealing and fraudulent conversion of properties belong to THA Shipping Maritime Services Ltd.

They pleaded not guilty to the charges.

The trio are accused of conspiracy and stealing of N918 million, proceeds of the sale of a property situated at Plot C63A, Amuwo Odofin Commercial Layout, along Oshodi Apapa Expressway, belonging to Tha Maritime and Shipping Services Limited.

The company, formed in 2000, had 49 per cent shares belonging to Mrs. Abubakar, 25 per cent to Mr. Akpan-Jacobs, and 25 percent to one Fred Holmes.

Mr. Akpan-Jacobs, who is also the company’s managing director, allegedly conspired with the secretary to alter the share arrangements at the Corporate Affairs Commission. He allegedly forged a company board resolution re-distributing the shares ownership giving himself 70 per cent , 15 per cent to Mrs. Abubakar, and 15 per cent to Mr. Holmes.

With the shares re-distribution, Mr. Akpan-Jacobs then allegedly proceeded to assume full ownership of THAShipping and subsequently sold a property worth N918m belonging to Dana Motors Nigeria Ltd

In 2014, the court had issued a bench warrant for Mr. Akpan-Jacobs arrest after the 46 year old repeatedly failed to appear for trial. He also failed to produce medical evidence to back his claims that he was ill.

Part of the charge against the defendant reads, “That ‎Nsikakabasi Akpan Jacobs and Abdulmalik Ibrahim as the Managing Director and Company Secretary on about the 10th day of August 2008 in Lagos within Ikeja judicial division with intent to defraud stole and converted to your own personal use the sum of N918,000,000.00 being proceeds sale of the property and appurtenances situated at plot C63 A Amuwo Odofin Commercial Layout along Oshodi-Apapa Expressway, Lagos, belonging to Tha shipping and Maritime Service limited entrusted with you as the Managing Director.

‎”Nsikakabasi Akpan Jacobs and Abdulmalik Ibrahim‎ on about the 1st day July 2002 in Lagos within Ikeja judicial Division with intent to defraud forged a Memorandum and Article of Association of Tha Shipping and Maritime Service Limited, dated the 1st day of July 2002 purporting the Signatures therein to have been signed by Florence Doregos and Fred Holmes.”

According to the EFCC, the offences contravene Sections 390, 467,468 and 516 of the Criminal Code Laws of Lagos State 2003.

The Commission said Dana Motors contravened Section 18(1) of the EFCC Act of 2004, when it fraudulently acquired the property from the first and second defendants.


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  • Emeka

    This was exactly how your husband stole the monies belonging to over 180 million Nigerians, which I believe formed a large part of the money you now cry a “blue murder…” Madam Atiku, your children, yourself and husband would loose all the monies you guys stole from Nigerians, maybe not immediately, but it must surely happen….

    • Amir

      At least Atiku is investing some of his stolen millions in Nigeria. But your principal Jona and wife stole in dollars and stashed at home. Greedy unrepentant bunch.

      • chukshaifa .

        If its patience jonathan, efcc, sss will be dancing like wild chickens around her. we need the same treatment for everybody in nigeria, no immunity

        • Paul Ohuche

          lazy and meaningless conjecture.Read the story carefully

        • Mufu Ola

          Your Comment lacks intelligence. So meaningless.

          • chukshaifa .

            Who cares about your opinion?

      • Emeka

        Whether Gej & wife or Atiku and wife, they all must loose all the stolen funds one way or another. They would loose it directly to fraudsters or through terminal illness. These stealing is heartbreaking, and must stop…

  • Solomon Brown

    “Thief” thief “Thief”. No lele, he Dindu Nuffin.

  • Noble

    God has answered the poor man’s prayers. One by one stolen monies will be recorvered.

  • Olu from South Africa

    This is interesting.

    • Otile

      It is not interesting anything.

      • Olu from South Africa

        Oko ìyawo!

        • Otile

          Oko iyale!

  • thusspokez

    The wife of a former Nigerian vice president, Atiku Abubakar, on Friday told a Lagos court how a business partner defrauded her of N918 million.

    if someone helps himself or herself to proceeds of loots, where is the moral justification to spend further tax payers’ money to prosecute the person. After all, “She who comes into equity must come with clean hands”.

  • Julius

    She should also be asked where and how she made the investment money in the first place. Take it from there. Let her explain herself like mama piss. God is exposing these people one by one.

  • Kekedu

    The case should be easy to resolve. Just check if Atiku declared this in the Code of Conduct form upon leaving office. It’s expected that the acquired property of self and immediate family are declared upon resumption/exit from office. If not disclosed, Akpan has no case to answer; in fact the hunter would become hunted. So Atiku better call madam to the other room for heart-to-heart discussion before yawa gas.

    • Epsilon_Delta

      If it was Patience Jonathan…

  • SAM .A

    Most likely Akpan knew this is a hiding money on his name , because the source is from looted money in Government . He therefore decided to take over the money , though he was not wise in doing it [ forgery of ownership ] He would have blown open the deal and ask Madam who was doing owanbe during the husband’s 8 years to declare her source . This could have been resolved in people’s court before now . Yoruba says , ole gbe , ole gba , God no dey fex.[ one thief steal it , another thief snatch it from him ….]

    • princegab

      How do you know if the investment was made with proceeds of looting ?
      Prejudice is making you people of little minds to support a thief. All those commenting against Mrs Atiku in the case in question are thieves too.