Everything seems to be working in wrong direction at the newly created ministry of creative economy. This is because of series of missteps and questionable moral questions on the head of the minister Hannatu Musawa.
The minister who is officially a youth corper has gone ahead to appoint a Principal Adviser, Faiz Imam from the energy sector. Faiz has all the while proudly flaunt himself as director of Island Energy which is also on his LinkedIn. His official bio on the business connecting page reads: “Senior Business Executive with over 20 years’ experience in various sectors with a focus on Energy.
Global industry knowledge, having worked for International Oil Companies and Independents in Africa, Europe and the United States of America (USA) in various roles and capacities.
Various roles covering technical, commercial, strategy, growth, fund raising and new business skill”
The principal adviser according to findings from the ministry by News of the People is to coordinate all other advisers and assistants on behalf of the minister in the ministry. In his rantings, emphasis was on heavy funding from the government without the depth of several creative components other than entertainment as shown in the slide below, an insider says.
This morning, Faiz Imam on Arise morning show was talking on the creative industry with lack of depth which arose the interest of many stakeholders to look into his antecedents.
Curiously, a report by the Financial Times on the trial of Afren Energy in London court listed Faiz as one of the indicted workers of diverting funds and outright stealing.
In the trial, Osman Shahenshah, 56, former Chief Executive Officer (CEO) of Afren plc, was sentenced to 16 years in prison. Also sentenced — this time to 14 years in prison — was Shahid Ullah, the 59-nine-year-old former COO.
The duo tricked the Afren board into investing $300 million in a deal in Nigeria, without disclosing that the partner, Oriental Energy Resources Ltd, would kick back $45 million to a Caribbean shell company they controlled.
According to the report, “Shahenshah and Ullah, with assistance from Afren’s former Nigeria Business Development Manager, Faiz Imam, used the funds in part to pay extraordinary bonuses to themselves ($17.1m in total was paid to Shahenshah and Ullah), and to other selected employees of Afren,” it further said.
In the review, 11 employees — past and present — were found to have benefited from payments from Oriental Energy. Afren also sacked Associate Directors, Iain Wright and Galib Virani, saying they received payments in breach of the company’s approved remuneration policy and that it would seek to recover such sums.
“The Board has instructed counsel to commence legal proceedings against Shahenshah and Ullah, if necessary, to recover sums in respect of such unauthorised payments,” the statement added.
“Greed motivated this crime. Osman Shahenshah and Shahid Ullah failed in their duties as company directors, abused their positions and lied to their board,” Said SFO’s Osofsky.
“Instead of acting in their company’s best interests, they used Afren like a personal bank account to fund an illicit deal, with no regard for the consequences. Fraud corrodes confidence, undermines trust and damages the reputation of the UK at home and abroad. It is our mission to bring those committing this crime to justice.”