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Crime Function

Galaxy: The Unveiling of a Voodoo Tycoon

By Tony Egbulefu

For 28 years, Babagana Abba Dalori lived a quiet and dreary life. With all of the risks to lives and limbs in his native Borno State, North-east Nigeria, he wished above all things to graduate protected and alive from the Electrical and Electronics Department of College of Maiduguri, (UniMaid), do his Nationwide Youth Service Corps (NYSC) scheme and relocate permanently to Abuja to make a dwelling beneath the relative safety of the Federal Capital Territory, (FCT).

By 2010, he was by means of with schooling, accomplished his NYSC and pronto, he hit Abuja.

Dalori found residence in Gwarinpa Property, nestling means into the estate’s internal reaches.

For 2 years, Abuja served him a harsh reality examine. He pounded the streets of the FCT, battling lack and joblessness. Confronted with the dire decisions of either to swim or sink, he reached into his Sixth Sense for a self-reliance choice. It paid off handsomely, however leaving a path that is as we speak, strewn with wreckages of different individuals’s destinies.

Now 35, Dalori’s grass to grace narrative aptly brings to reminiscence the Arabian fairy-tale Alibaba in “Alibaba and the 40 Thieves.” The tactic and techniques are comparable; the point of departure is that quite than thieves, Dalori’s casualties on his solution to fame and fortune have been trusting and harmless victims.

From a pool of private savings and monetary assist from totally different quarters, he procured a commuter tricycle, (Keke NAPEP) in 2012, which he initially operated himself in Gwarinpa, swallowing the sense of self-worth he earned together with his certification in teachers and character within the ivory tower.

As the disingenuousness in him kicked in, Dalori spurned the trail of persevering software and unravelled as a sensible alec.

By sweet-talking unsuspecting members of the public to pool assets collectively and procure tricycles, which he would superintend their administration underneath non-binding settlement to reward them typically with as a lot as 200 per cent curiosity on their capital, Dalori grew the number of his tricycles from one in 2012 to 50 in 2014.

With the killing he made with the tricycle experiment, he branched into bus commuting, sand mining and trucking, buying over 100 dumper vans in what was a report time for a start up.

Four years down the road, 2016, he formalised his new enterprise forays with the registration of Galaxy Transport and Development Firm, turning into the Director/CEO and his widowed mother, a co-director. While the company was not registered as public liability company, it harvested funding funds from members of the general public, most of whom their information of his companies is zilch.

Dalori’s investment portfolio continued to broaden with the willingness of members of the public to contribute finances to him in their perception that indeed they will be or already are half house owners of his sprawling business enterprises.

Because of the mouth-watering returns he made to his buyers, Galaxy Transport and Development Company easily spread its operations to 11 states of the North, and Abuja, boasting of buyers’ profile of 27, 400 as of right now, as revealed by investigators of the Financial and Financial Crimes Commission  EFCC.

Dalori’s disguised intent and true character began to unfurl to his buyers from 2017. Having amassed astonishing wealth from his buyers free cash, he determined to deal with them as the suckers they have been. He then began a gradual shutdown in cost of return on funding to his buyers.

By the following yr, 2018, he had utterly turned off the tap on the stream of return on investment and wouldn’t even breathe a word to traumatised buyers who made persistent inquiries as to what had befallen their investments.

At this level, Dalori had long moved on and was now operating an oil and fuel entity together with his incorporation of Galaxy International Power Limited. Aside this, he advised EFCC investigators that he invested about N400 million to accumulate a quarry licence with which he began stone crushing in Mpape, Abuja in 2017.

Others in the litany of his companies which advanced totally from funds from his gamed buyers embrace: Galaxy Miners Ideas Limited, Galaxy International Farms, Galaxy Guest Palace Restricted, Galaxy Hospital, Galaxy Computing, Galaxy block making and Galaxy automotive wash and actual estates.

Comprised in his realty acquisitions are allegedly, 5 models of six bedroom mansions, situated in Police Estate, Gwarinpa, landed properties in Dakwa, Niger State, spread throughout three places, measuring 5.7, 2.5 and one respectively in acres.

In Paiko, a location after Gwagwalada (coming from Abuja) is 30 acres, he earmarked for realty and just a distance of about 2km from this, and inside the similar Paiko is another 29 acres for realty and 13 acres of farmland.

Further investigations by the EFCC revealed that Dalori who in 2018, acquired a farmland, measuring 200 acres in Gaube, Kuje, Abuja yet has one other land acquisition in Lape Format, slightly after Ungwa Madaki, Nyanya, Abuja.

Comprised in Galaxy International Power Limited is an array of gasoline stations, spread across Northern Nigeria and three fuel crops, situated in Bwari, Abuja and in Mab International Junction, Galadima, Gwarinpa.

Dalori’s formulation is typical of Nigerian marvel banks- entice hordes of investing public with fraudulent guarantees of giant returns on investment- then grab their money and slam the door shut of their faces.

To suck-in as many unsuspecting victims as he might into his edifice of corruption, Dalori employed an enormous digital media advert marketing campaign on the handsome reward on investment his corporations provided.

He moved his fraudulent advertising pitch some notches further with a financing of “Zero Hour”, a film production with a forged of A-list Nollywood and Kanywood actors, which was just a little in need of an promoting gimmick to persuade unsuspecting members of the general public to spend money on his corporations.

A victim painfully concedes that “Dalori’s gimmicks paid off as different people took their hard-earned savings, inheritance, pensions and other sources of income and invested in Galaxy. He used his investors’ money to incorporate different entities without getting their consent.”

Why do Nigerians still patronise companies and schemes that promise unrealistic returns on investment regardless of the unhappy classes from marvel banks and ponzi schemes? Head Advance Payment Fraud, EFCC, Omar John Sini puts it right down to greed.

“Every human being inherently has some degree of greed deposited in him. It’s just depends upon how someone can average his or her own to ensure that it not to get the higher part of his or her senses. As an alternative of individuals to assume earlier than venturing into one thing, they enterprise into it earlier than considering. So I will say it’s greed.

“Galaxy at some point was giving 200 per cent return on investment. It doesn’t make sense. What was he doing, what was he selling with investors’ funds that he would not only make gains for himself but also make available such capital and interest to investors. He was just giving it so that they will go and enjoy it and invite more people. That was why he made it so attractive so that people will join in their thousands. I tie it to greed and advise that we always think before we venture into any kind of investment,” Sini stated.

To stop additional erosion of his buyers’ funds, pending the conclusion of investigations by the EFCC, all financial institution accounts belonging to the Galaxy group have been frozen at the prompting of the Commission, backed by courtroom orders.

By accepting deposits from members of the general public when his company is just not a licensed monetary establishment, Dalori and his company are in breach of provisions of Banks and Different Monetary Establishments Act.

However the media aide to Dalori, Mr. Cletus Onoja blamed his principal’s incapability to honour his monetary obligation to his buyers on the lack of certainly one of his corporations’ largest dredgers in his Jere sand mining website in Kaduna State. One more reason he advanced was the suspension of quarry activities in Abuja since October final yr by the Federal Authorities, following earth tremors in the capital metropolis.

Dalori in his personal eyes is a philanthropist and self-made made. “I have a mindset to be an entrepreneur, assist individuals and supply jobs since there are not any white collar jobs again.

“I began as a transporter with a tricycle at a Yakasuwa Market, Gwarimpa, Abuja and the Keke NAPEP enterprise later expanded to 50 tricycles.

“I purchased a home in Gwarimpa and ploughed the cash into transportation business. I later bought the home for N8.2million in 2014 and used the cash to diversify into other companies.

“Between 2012 and 2014, the businesses boomed as my friends, relations and classmates picked interest in what I was doing. But natural disaster and flood affected the businesses in 2018, thereby creating problems for me and the consequent inability to meet up with the investors,” he advised the EFCC.

Remorseless, he advised the Commission’s investigators that there was nothing fraudulent in his ripping off a staggering 27,400 buyers in his corporations.

“All I was doing was to assist fellow Nigerians and I have no intention to defraud anyone. The businesses were okayed and I was paying good returns to the investors before the natural disaster and floods caused my problems and affected the investments.”

Distortion of details couldn’t have been any worse for, while Dalori and Onoja discover comfort in citing a 2018 flood that affected the corporate’s Jere sand mining website and the Federal Authorities’s suspension of quarrying within the FCT, similar yr, as causes for leaving the businesses’ buyers within the lurch, EFCC’s findings establish that a good variety of private acquisitions together with the huge 200 acres farmland in Gaube, Kuje, Abuja, which Dalori made together with his buyers’ funds have been carried out in 2018.

•        Tony Egbulefu is a employees of the Economic and Monetary Crimes Commission, EFCC

Pix: Babagana Abba Dalori, Director/CEO, Galaxy Transport and Development Firm.

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