EFCC To Arraign Oil Services Manager For N48.9m Fraud

BEVERLY HILLS, CA, May 24, (THEWILL) â€' The Economic and Financial Crimes Commission, EFCC has concluded arrangement to arraign the Finance Manager of Cetco Oilfield Services Limited, Akintunde Ajao alongside his company, YPSL Limited for offences bordering on forgery, conspiracy and obtaining money under false pretences, the agency said in a news release Friday.

The Commission on May 21, 2014, filed four-count information at the Federal High Court, Port Harcourt, River State against the suspect.

The suspect allegedly acting on a directive purportedly from the River State Board of Internal Revenue (RSBIR) diverted the sum of fifty-two million, two hundred and eighty two thousand (52, 282, 000:00) to YPSL Limited, a company allegedly promoted by him, to defraud Cetco Oilfields Services Nigeria Limited.

Investigations by the Commission revealed that Ajao used his office as Finance Manager to prepare a letter purportedly signed by the Chairman of the Board showing a false tax liability of Cetco Oilfield Services Limited to the tune of seventy four million, nine hundred and sixty three thousand, seven hundred and twelve naira , eighty kobo (74,963,712,80) out of which he, on behalf of Cetco, remitted the sum of Twenty-six million, eighteen thousand naira to the RSBIR as the actual tax liability of the company and converted the balance of forty eight million nine hundred and forty five thousand, seven hundred and twelve naira, eighty kobo (48,945,712:80) to his personal use.

Meanwhile, the trial of Moses Samanja Audu, an alleged wonder bank operator began on Thursday, May 22, 2014 before Justice Evelyn Anyadike of the Federal High Court sitting in Kaduna.

At the resumed trial, an operative of the Economic and Financial Crimes Commission, EFCC, Abdulkareem Chukkol who was led in evidence by counsel to EFCC, Joshua Saidi told the court that the accused person operated a wonder bank without valid license.

Chukkol stated that in response to the letters of enquiry written by the Commission to the Central Bank of Nigeria, CBN, and Corporate Affairs Commission, CAC, both organisation confirmed that the accused person was neither registered nor empowered to operate a financial institution. Copies of the letters were tendered and admitted as exhibits. Other document tendered as exhibits include deposit slips, cash receipt booklet and a list of some depositors.

Audu is being prosecuted alongside with his company, Miriam Moses Ventures Limited by the EFCC, on one count charge bordering on operating banking business without licence and obtaining money by false pretence.

The count reads: 'That you, Moses Samanja Audu and Miriam Moses Ventures Limited sometime between 2010 and 2011 at Kaduna, within the jurisdiction of the Federal High Court transacted banking business by receiving deposits from the public, without a valid Licence from the Central Bank of Nigeria and thereby committed an offence punishable under Section 2(2) of the Bank and other Financial institutions Act, Cap B3, Vol.2, laws of the Federation of Nigeria, 2004.'

Justice Anyadike adjourned the case to June 16, 2014 for continuation of hearing.