The Economic and Financial Crimes Commission (EFCC) has declared the Chief Executive Officer of Baraza Multipurpose Cooperative Society, Miebi Bribena and his wife, Beatrice Bribena wanted for some alleged financial crimes.
This is coming six months after some residents of Bayelsa State called on
the commission to do so following the step it took against Mr. Maxwell Odum, the Chief Executive Officer of MBA Trading and Capital Investment.
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Niger Delta Connect had on December 8, 2021 ran a story where some affected members of the Baraza ponzi scheme had insisted that Bribena, like Odum, should also be declared wanted since they are both accused of same offence.
The anti-graft agency in a statement by its Spokesman, Mr. Wilson Uwujaren said: “The general public is hereby notified that Oyinmiebi Bribena and Beatrice Bribena are wanted by the Economic and Financial Crimes Commission (EFCC) in an alleged case of conspiracy, obtaining money by false pretence, money laundering and ponzi scheme to the tune of N2 billion only.”
Prior to the latest development, the EFCC had marked the building housing the corporate headquarters of Baraza in Yenagoa as being under investigation.
Bribena had allegedly escaped from Nigeria to an unknown county after failing to pay investors of his ponzi scheme their return on investment.
An investor of the scheme, Peters Beregha had approached a court asking it to compel Bribena to release his trapped funds in Baraza but the court on April 8 this year, dismissed the suit.
The Magistrate Court sitting in Yenagoa, and presided over by Sarah Benjamin, while giving her judgement, held that Beregha did not follow the stipulated process in the co-operative society law of Bayelsa State to seek redress.
“From the foregoing, jurisdiction is not vested in the courts to entertain disputes in the first instance. The court’s role is limited to enforcement of an arbitral award or decision of the Registrar or Commissioner.
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“There is no record or documentary evidence that the procedure as set out in the enabling law, the Co-operative Societies Law, for which this court is called on to enforce following a settlement by the Registrar of Co-operative Societies.
“The Plaintiff/Respondent’s failure to have referred the dispute to the Registrar for settlement would cause this present suit to fail. The Preliminary Objection is hereby UPHELD. This Court lacks jurisdiction to entertain this suit”, she said.
