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Petroleum Minister, Ibe Kachikwu, ‘Spent N7m On Hotel, Designer Shoes And Clothes In 2 Days’

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A former Minister of State for Petroleum Resources, Ibe Kachikwu allegedly spent over N7 million on hotel accommodation and designer clothes and shoes between August 3 and 4, 2017 in Paris, France.


According to reports, Kachikwu’s bank statement revealed that the former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), spent N1,725,518.38 to pay for his accommodation at MCE (Marriott Champs Elysees) Hotel, Paris, France on August 4, 2017.

Kachikwu was said to have also spent N1,130,252.96 on Louis Vuitton products on the same day, according to his bank statement.

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Hours before, on August 3, N2,061,505.78 was deducted twice – amounting to N4,123,011.56 – and credited to Christian Dior. C, a fashion, fragrance and accessories shop in Paris.

The deductions of N2,061,50.78 twice for Christian Dior. C were made on the same day.

On July 18, 2017, N345,313.84 was deducted from Kachikwu‘s account and sent to Harbour Hotel, Dubai, suggesting he had spent time there.

Less than two weeks later, on July 28, N345,292.48 was deducted from his account, again for Harbour Hotel, Dubai.

On July 27, 2017, N2, 671,479.69 was deducted from Kachikwu’s account and credited to CDC Abu Dhabi Couture, Dubai, suggesting another lavish spending on clothes.

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His 2016 statement of account shows Kachikwu also patronised Hermes, French luxury goods manufacturer that specialises in leather goods, lifestyle accessories, home furnishings, perfumery, jewellery, watches and ready-to-wear. He spent N672,008.35 on December 7, 2016 to pay for something he had bought from Hermes with his debit card.

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On November 30, 2016, there was a debit of about N3.5 million from his account which was credited to Tom Ford, Dubai. This also appears twice for the same day.

On December 19, 2016, he bought jewellery worth N632,606.21 from Marhaba in Dubai and the following day he paid N633, 897.41 to The Harbour Hotel, also in Dubai.

Aside from the many debits exposing Kachikwu’s flamboyant lifestyle, some transactions also suggest his account may have been used to launder money. On February 15, 2016, Kachikwu’s account was credit with N9,777,176,145.000 (about N10 billion), with the description- 8904150000073: Closure Pro. There was a debit of N9,785,865,665.27 from the account, with the description Dr Tran for funding A/c 89041500.


On March 24, 2016, his account was credited with over N103 million with the description Private BA.

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On 14 of January, 2016, N50,000,000.00 was transferred to Kachikwu with “8904010006095 : Closure”. Also on February 18, 2016 about N394,614,000.00 (about N400 million) entered his account with “VC REPAYMENT AS” as description.

N10,000,000 in four tranches were also transferred to him from AVA & AUDREY LIMITED on April 18, 2017.

Another N10,000,000.00 was also transferred to him from one AYODEJI TOLUWALASE on April 18, 2017.

And on April 28, 2017, he received N60,000,000 with a description that says: 8904010008372 Closure Pro.

Known for his lavish lifestyle, Kachikwu as Minister allegedly spent over N182 million on a chattered flight to China for a three-day roadshow in the Asian country to attract investments to Nigeria’s oil and gas sector.


Photo Credit: Getty 

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