Alleged N164m Fraud: EFCC insists on charges of funds diversion against Lagos bizman

The Economic and Financial Crimes Commission (EFCC), has insisted that a Lagos businessman, Fidelis Umukoro, facing trial in an alleged N164 million fraud, diverted funds from A& P Foods Limited to other companies without being lawfully authorised to do so.

Counsel to the EFCC, T.J Banjo, on Monday, May 16, 2022 told Justice Mojisola Dada of the Special Offences Court, sitting in Ikeja, Lagos, that Umukoro allegedly diverted the funds when he was the authorised signatory to the account of A& P Foods Limited.

While being cross-examined, the prosecution alleged that the defendant diverted the funds to Raremax Global Investments Limited, where he was a former Managing Director, and to other companies in which he had interest in.

Access Bank

About Daily Record

Check Also

Peter Obi prays for Ekweremadu, healing of daughter

By David Royal Barely 24 hours after some Nigerians and his supporters on Twitter celebrated …

Leave a Reply

Your email address will not be published. Required fields are marked *