Buruji Kashamu exposed in fresh scandal

After a scathing remark in a letter ex-President Olusegun Obasanjo wrote to President Goodluck Jonathan, where reference was made to Buruji Kashamu, leader and financier of Nigeria’s ruling Peoples Democratic Party (PDP) in Ogun State as a fugitive, more details have emerged of Kashamu’s illicit dealings.
According to the letter, Obasanjo condemned the president for his relationship with Kashamu, a man wanted in the United States for drug-related offences, as one of the reasons the president’s war on corruption is tepid.
Kashamu has now been accused of using a fictitious company to obtain a fake agreement with the Nigeria Postal Service (NIPOST) by Mr. Adetola Adekoya, Chief Operating Officer of the School of Banking Honours (SBH).

Pince Kashamu

Pince Kashamu

The SBH had early in the year partnered with NIPOST to lead the revival of N50-stamping on all bank receipts in the form of banking tellers and electronic transfers with values of N1,000 and above, with Adekoya as the project consultant.

Several months after the Master Services Agreement between NIPOST and SBH was signed, the project take-off was stalled due to a delay in the release of a circular by the Central Bank of Nigeria (CBN) mandating all commercial banks to comply with the Stamp Duties Act 2004, Section 89(2), which stipulates “ every receipt given by any person in acknowledgement of goods purchased or services rendered should be denoted by an adhesive postage stamp worth N50 and issued by NIPOST.”

After hitting a brick wall in the project roll-out, Adekoya was desperately seeking for an audience with Jonathan to draw the president’s attention to the stalemate, particularly as 300,000 jobs are being targeted on the NIPOST assignment and the federal government is losing about N2 trillion annually.



He was introduced to Kashamu on the recommendation of an Ogun State monarch, the Ebumawe of Ago-Iwoye on Saturday, October 12, 2013 to facilitate his meeting with the president.

But surprisingly after Adekoya’s meeting with Kashamu, a court order from a Federal High Court with Suit No: FHC/L/CS/1462/13 was served by ex-parte motion against 22 banks, NIPOST and SBH by Prince Kashamu rendering a subsisting service agreement between NIPOST and SBH null and void, while fraudulently obtaining an agreement with NIPOSt with an unregistered firm for the same purpose.

With Kashamu’s recent move to force himself on NIPOST/SBH job-creating project by presenting fake documents at the court, it is clear that he is acting on his own. Sources close to President Jonathan insist Kashamu is on his own and Jonathan should not be linked to such vicious actions of Kashamu. The youth youth whose work Kashamu is trying to manipulate are set to protect their intellectual property.

According to Adekoya, “We met with Prince Kashamu and his lawyer, Prince Ajibola Oluyede on October 12, 2013 to reach and alert President Jonathan on our job-creation effort that was being delayed by the CBN. But it was shocking that after our discussion, Kashamu, using Kasmal Financial Services, secured an agreement with NIPOST dated August 2013 (two months backwards), which duplicated our own agreement with the same organization dated September 14, 2012.

“At our meeting with Kashamu, which was largely exploratory and inconclusive, we did not sign any sub-contract for Kashamu to join us on our contracted duties and NIPOST could also not have signed any valid agreement with the Postmaster-General of NIPOST, Alhaji Ibrahim Mori Baba, when there was a subsisting agreement if not that it achieved it dubiously using his influence with the president. He even went ahead to render our own agreement, which is over a year now, null and void by a jankara ex-parte court order.

“We strongly refuse to be a party to any form of fraud against the federal government of Nigeria and have instructed our lawyers to file a counter action that will vacate the order obtained by Kashamu based on fake locus standi, voidable agreement, voidable commission and plagiarism of our institution’s research work/intellectual property,” he said.