An Assistant Director, Pension Department, Phina Chidi, Franklin Nwankwo and Pam Investment Properties have been arraigned by The Economic and Financial Crimes Commission (EFCC) before Justice Gabriel Kolawole of a Federal High Court for allowedly stealing and laundering N1.6bn pension funds.
They were said to have used their positions in the Pension Funds Department to obtain N1.6bn by false pretences and launder another $2m.
Phina Chidi is said to be in another court standing trail along side Teidi Shuaibu of the Pension Accounts of the Office of the Head of Service of the Federation of Nigeria.
The charge reads, “That you, Phina Chidi (while serving as Assistant Director, Pension Department of Office of the Head of Service of the Federation of Nigeria), at various times between January 2009 and December 2010, within the jurisdiction of this honourable court, obtained for yourself by false pretences and with intent to defraud, through fictitious contracts payments to Cenco Enterprises, various sums of money amounting in aggregate to N74,350,000.00 from the Federal Government of Nigeria through the Pension Account held by the Office of the Head of Service of the Federation of Nigeria, and thereby committed an offence contrary to Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act,2006 and punishable under Section 1(30) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006”.
All accused were granted bail in the sum of N10m each and two sureties who must be residents of Abuja and the case was adjourned to 4th and 5th of February 2015.
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