A RETIRED Nigerian civil servant alleged to have taken €6 million in bribes and corrupt payments had a number of life bond policies with HSBC Life (Europe), Harcourt Street, Dublin, frozen by the High Court yesterday.
Mr Justice John MacMenamin heard that Christopher Orumgre Agidi had transferred just under €1.9 million to the Harcourt Centre finance house in October 2000 and that English police believed he still had a substantial six-figure sum invested there.
Rossa Fanning, counsel for the Federal Republic of Nigeria, told the court that orders freezing €3,787,000 in accounts in Mr Agidi's name in London banks had already been granted by the High Court in England, pending the Dublin application.
He said the 66-year-old Mr Agidi, whose annual government salary had never topped more than €5,650, lived in Hurstwood Road, London, and the Nigerian government's case for freezing his UK and Irish assets was based on evidence that he had taken bribes or corrupt payments from a number of sources while a public servant.
Mr Fanning said Mr Agidi owned a number of companies in Nigeria and the UK which carried out no substantial economic activity as such but nonetheless had been in receipt of millions in sterling and US dollars exclusively from foreign companies pursuing government contracts in Nigeria.
While Mr Agidi would say the monies were legitimate consultancy fees, the Nigerian government's case was that they were bribes and corrupt payments and that he was bound to account for them and pay the money to his former employer.
Rachel Glavin, of Eugene F Collins, solicitors, said in an affidavit that Mr Agidi's highest annual salary at his retirement in 2002 was €5,642, yet in September 1999 his HSBC accounts in London had received credits in excess of €2.5 million.
She said funds used to purchase life assurance policies from HSBC Life (Europe) in Dublin were believed to have been sourced from these payments.
Mr Fanning told the court Mr Agidi had faced criminal proceedings in London arising out of money laundering offences, but he had been acquitted in July 2007.
Related proceedings had been brought under the Proceeds of Crime Act, but these had been compromised on payment of a settlement.
The Nigerian government, arising from its belief that Mr Agidi had already been engaged in dishonest practices and corruption, was apprehensive that he would attempt to dissipate or dispose of his assets both in the UK and Ireland.
Judge MacMenamin granted injunctions restraining the disposal of monies in specific Life Bond Policies held by Mr Agidi with HSBC and any assets he holds in any account with HSBC or related companies. The court made orders restraining publication of the names of companies alleged to have made payments to Mr Agidi or publication of information contained in documentary exhibits associated with yesterday's application.