The Economic and Financial Crimes Commission has frozen a bank account belonging to Mrs. Bola Shagaya, a businesswoman which Forbes Magazine described as one of the wealthiest in Africa.
It was learnt that Shagaya, who is founder and Chief Executive Officer of Bolmus Group International – a diversified Nigerian conglomerate with interests in oil, real estate, banking, communications and photography – had become a subject of investigation due to her links to Dame Patience Jonathan, the wife of former President Goodluck Jonathan.
Sources within the EFCC told Sunday Punch that Shagaya’s account with Unity Bank with a balance of N500m was frozen.
The business tycoon, who is also the Managing Director of Practoil Limited, one of the largest importers and distributors of base oil in Nigeria, was said to have made suspicious payments into bank accounts belonging to Patience, who has been under EFCC investigation for about six months.