How Staff Of Securities and Exchange Commission, Emmanuel Savia, Violated CCBT Act In ₦144 Million Contract Racketeering Scam

Secrets Reporters

Corruption has eroded the Securities and Exchange Commission, as a senior supervisor with the agency has been found to have violated the Code of Conduct Bureau and Tribunal Act (CCBT) for public officers. The law strongly prevents a government official from owning or running a private company while being employed as a full-time staff member.

It was discovered that Emmanuel Savia, a senior supervisor with the Securities and Exchange Commission, an agency of the Federal Government, was involved in contract racketeering to the sum of ₦144,856,221.14.

Findings show that Emmanuel Savia is among the key management personnel of Bhive Media and Strategy Ltd, a company with which he used for contract racketeering to the sum of ₦144,856,221.14.

On July 27, 2022, Bhive Media and Strategy Limited was paid the sum of ₦40,655,000.00 for the provision of minibuses for the empowerment of youth in Lagos by the Federal College of Horticulture, Dadin-Kowa, Gombe.

On November 9, 2022, Bhive Media and Strategy Limited was paid the sum of ₦41,520,000.00 for the provision of minibuses for the empowerment of youth in Lagos by the Federal College of Horticulture, Dadin-Kowa, Gombe.

On February 1, 2023, Bhive Media and Strategy Limited was paid the sum of ₦62,681,221.14 for the construction of Ivenogbo Street, Ojodu, Ikeja by the Nigerian Building and Road Research Institute – Lagos.

Bhive Media and Strategy Limited was registered in Abuja, with registration number 1566186, on March 7, 2019. It is located in Gwarimpa, Abuja.

The company has four key directors/management personnel, including Emmanuel Savia, a Senior Supervisor with the Securities and Exchange Commission.