Following details of series of investigations conducted by Conduct and Due Process Group, an Due Process and Anti-Corruption civil society group into contracts awarded in Delta State in the previous administration of the state, it was gathered that Delta State Businessman and Executive Banker Dere Otubu was involved in multiple multi-billion naira contracts.
Information and documents available to The Village Parrot reveals massive fraud perpetuated by Mr. Dere Otubu and the former Delta State Secretary to the State Government Ovuozurie Macaulay. Palmyra Construction Nigeria Limited received a contract for the construction of section A and B of the Warri-Eku road and the firm received 3 billion naira in mobilization yet the contractor Dere Otubu never mobilized to site and consequently, the contract was abandoned. Mr. Dere Otubu who is a banking and Insurance magnate has no business doing construction contracts. However, when he did he quickly become known for abandoning contracts after being mobilized and because of his proximity to the former governor he has gone unchallenged and unquestioned and that is why the Conduct and Due Process Group petitioned the EFCC and the commission swung into action.
According to our sources inside the EFCC another multi-billion naira project abandoned by the banking and finance mogul after being mobilized is that of the construction of Warri Industrial Park. If Deltans are wondering whatever happened to the highly anticipated Warri Industrial Park, Dere Otubu is to be held responsible. He was given at least 9 billion Naira yet, he never mobilized to site. He has litters of other cases being investigated by the Economic and Financial Crimes Commission. Conducts and Due Process Group’s private investigators released a couple of documents containing properties and companies owned by Mr. Dere Otubu in the United states of America which was linked to the fraud and laundering case is Drakestone Holdings is a company located in Houston, Texas.
The Village Parrot will publish other vital documents gathered as evidence in the investigation on the person of Mr. Dere Otubu.