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Nigerian Film Corporation MD arrested for embezzlement, agrees to refund money

Source: http://nigeriafilms.com

The Managing Director and four other directorsof the Nigerian Film Corporation (NFI) have been arrested, for embezzling N11.8 million of.the corporation's funds, by the Economic and Financial Crimes Commission (EFCC) and agreed to refund money they embezzled.

Sources say the officials confessed to sharing the money.

Earlier this year the management of the corporation proposed moving the corporation's headquarters to Abuja and this was approved but later cancelled.

However, "N11.8 million had, however, been already released from the movement but the officials decided not to refund the money to the ministry but shared it among 11 staff of the corporation,"

Other people who got a part of the money benefited innocently without the knowledge of where the money came from or what it was meant for," a source said.

Those who benefited innocently will not be asked to refund any money.