Banda's son 'pocketed R5m' in Zambia-Nigeria oil deal

The Lusaka Magistrate's Court has heard that, Henry Banda received US$550 000 from an oil deal, facilitated by his father, with a Nigerian company.

Banda (75) is facing a charge of abusing his authority while head of state between 2008 and 2011. Henry Banda has been on the Zambian police’s wanted list since 2011, when he fled Zambia after police asked him to submit to questioning in connection with unspecified allegations.

According to the sources, former Zambian envoy to Nigeria Richard Kachingwe told the court Banda had directed Henry to discuss where the proceeds of the oil deal would be deposited with Sarb Energy director Akpan Ekbene and a certain Brigadier General Silva.

 Kachingwe said Banda had accredited him as his special envoy to deliver a proposal to Nigeria’s President Goodluck Jonathan soon after the death of that country’s president, Umaru Musa Yar’Adua.
He said Banda funded about three trips to Nigeria in pursuit of the oil deal and gave him 30-million kwacha (about R50 000) in cash for one of them.
Kachingwe told the court that he had collected the offer letter on behalf of the Zambian government for the supply of 20 000 barrels from the Nigerian National Petroleum Company. But in the initial contract it had been agreed that Zambia would receive 45000 barrels of crude from the petroleum company.

Henry, who has vowed never to set foot on Zambian soil again, is now a businessperson based in Johannesburg. His London-based lawyer, Robert Amsterdam, has repeatedly protested his innocence of any wrongdoing in the oil deal, telling the public recently that the real criminals were the Zambian government. Amsterdam could not be contacted on Wednesday this week.