EFCC Arrests Brother Of Cross River State Governor Over Alleged N2.4b Contract Scam

By -
Gov. Ben Ayade of Cross River state

The Economic and Financial Crimes Commission, EFCC has arrested a brother to Governor Ben Ayade of Cross Rivers State over alleged N2.4b contract scam.


Sources at the EFCC told Premium Times that Francis Ayade was arrested yesterday in connection with the scam.

Mr. Ayade, managing director of Leophina Nigeria Limited and Hally Brown International Limited, was fingered in alleged shady deals involving diversion of public funds into his companies’ accounts.

“Specifically, four different allocations from the Federation Accounts were alleged to have been diverted into Hally Brown International Limited’s account owned by him,” an official told Premium Times.
Investigations by EFCC operatives showed that Hally Brown International Limited was awarded a road construction contract to the tune of N2.4b in 2011.

To finance the contract, Mr. Ayade allegedly took a loan of N350,000,000 (Three Hundred and Fifty Million Naira only) from First Bank Plc, on behalf of Cross Rivers Rural Access and Mobility Project.

The loan, was however, unused for the contract, but transferred into the Mobility Project.

Mr. Ayade has also been implicated in alleged suspicious transactions involving Obudu Micro Finance Bank, among other allegations.

He has been offered administrative bail but still in the custody of the EFCC until he fulfills the bail conditions.

Comments

Post a Comment

Post Your Comment

Popular posts from this blog

Democracy or Kleptocracy? See the Trillions stolen in the last 17yrs

By -
Image
  Over N39tn lost in the country’s economy, crude oil theft, official corruption and electoral campaign funding were responsible for a larger percentage of the loss. The exchange rate of N130 to a dollar was used in the conversion of funds under the Obasanjo-led administration while N150 was adopted for those under the Jonathan-led administration, being the average official rates during the tenures. N3tn – NNPC, NPDC unremitted funds Former Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, now the Emir of Kano, Alhaji Muhammadu Sanusi II, had written former President Goodluck Jonathan, accusing the Nigeria National Petroleum Corporation of failing to account for $49bn revenue, which should have been remitted to the Federation Account. He recently said the corporation could only account for $29bn of the ‘missing’ fund. He said some oil companies paid taxes and royalties in oil, and the NNPC sold this oil on behalf of FIRS. “No reasonable explanation for $20bn (NNPC);  $6bn
Read more

UK resumes work, study visa applications processing in Nigeria

By -
Image
The United Kingdom has resumed work and study visa applications processing in Nigeria. This was contained in a post by UKinNigeria on its social media handles on Wednesday. In the post, Nigerians were urged to proceed to the UK visa application centres for the Priority Visa Services. “From January 24, TLS will resume offering some Priority Visa (PV) Services in our Nigerian visa application centres. PV services will only be available to customers applying at VACs in Nigeria in work and study routes. These services will only be available via the TLS website and can be purchased when making a VAC appointment,” the post read. The British High Commission had on December 6, 2021, suspended visa applications from red list countries, including Nigeria. “To support the UK Government’s aim to protect public health from COVID-19 and associated variants of concern, UK Visas & Immigration will pause making decisions on visitor visa applications in all red list countries, including Nigeria, unt
Read more

Horror As An Ashawo Chops Off Customer’s Manhood For Refusing To Pay After Action

By -
Image
A man has lost his p*n!s in the hands of a an Ashawo after the angry Lady used a sharp object to cut off the man’s m*****d. A Kenyan man has been left in excruciating pain after his m*****d was chopped off by a an Asahwo for refusing to pay her after passionate s*-x.   The unidentified man is now recuperating in hospital but in serious pain. According to The Standard, the 31 year old victim in the Rift Valley town of Nakuru some 250 kilometres north of Kenyan capital Nairobi was alleged to have picked up the Ashawo along the streets Tuesday at around 4pm and taken her to his room. They later failed to agree on payment leading to the incident.   The incident resulted in an argument leading the lady to pick up a sharp object and chop off the man’s m*****d. Area Chief Stephen Macharia said in the report that a member of the Nyumba Kumi initiative and a taxi driver informed him of the incident. The man was taken straight to the theatre for s
Read more