Ex-NAPIMS Boss Bala Wunti linked to Multi-Billion Naira Fraud, alleged Acquisition of Hotel and Private Jet Through Fronts

Bala Wunti, former Group General Manager of the National Petroleum Investment Management Services (NAPIMS), has been implicated in a massive corruption scandal involving alleged diversion and laundering of public funds running into billions of naira.

 

According to official documents and insider accounts, Wunti allegedly used front companies and individuals, notably Preye Berezi, to conceal the proceeds of corruption. Berezi’s firms—LES Energy Services and PFL Engineering—were reportedly awarded multiple high-value contracts during Wunti’s tenure at NAPIMS, despite questionable documentation and unclear service delivery.

 

Investigators believed that Wunti, using Berezi as a proxy, re-acquired the Le Meridien Hotel in Port Harcourt, a property initially seized from former Petroleum Minister Diezani Alison-Madueke and reportedly purchased for $25 million.

 

The probe also alleged that Wunti acquired a private jet through Berezi, further complicating the financial trail. Another firm, Etihad Energy Limited, allegedly received a $3.7 million payment under voucher no. 1500000234, without supporting documentation or evidence of services rendered.

 

In a separate transaction, documents shown that Wunti authorized a payment of N262 million to Olaniwun Ajayi LP on December 7, 2022, reportedly breaching procurement regulations. The payment, allegedly made to a personal account rather than the firm’s corporate account, lacked appropriate documentation.

 

Sources within anti-graft agencies confirmed that both the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) are reviewing the allegations. Pressure is mounting for a thorough investigation and prosecution of Wunti and his alleged associates, including Berezi, believed to be holding assets in trust.

 

The revelations emerged amid reports that Wunti is preparing to contest the 2027 governorship election in Bauchi State, raising concerns about the source and scale of his campaign funding.

 

 

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