FeaturedHighlightTrending Story

N27bn fraud: Ex-minister to cool his heels behind bars

108

 

For his alleged involvement in the mismanagement of the N27 billion set aside for the payment of the retirement benefits of staff of the defunct Power Holding Company of Nigeria (PHCN), a former Minister of State for Power, Muhammad Wakil, is to remain behind bars for the next 22 days.

According to an order of a Federal Capital Territory High Court, App, he is to remanded in prison till March 31.

Wakili is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on a two-count charge of corruption and abuse of office before Justice S.B.Belgore.

He, however, denied the charges.

Wakil, a former lawmaker, was charged alongside two companies-Corozzeria Nigeria Limited and Pikat Properties Nigeria Limited, for allegedly receiving N148 million as gratification from Bestworth Insurance Brokers Limited out of the N27.1 billion approved outstanding insurance premiums and claims of deceased and incapacitated staff of PHCN.

Wakili was alleged that while being Minister of Power and managing director of Corozzeria Nigeria Ltd, and Corozzeria Nigeria Ltd on or about 22nd December, 2014, in Abuja corruptly received N118 million through Corozzeria Nigeria Limited’s Polaris Bank Account No. 4010023658 from Bestworth Insurance Brokers Limited out of the sum of N27.1 billion.

It was the sum approved for the payment of outstanding insurance premiums and claims of deceased and incapacitated staff of Power Holding Company of Nigeria( PHCN), and thereby contravened Section 8(1)(a) of the Corrupt Practices and Other Related Offences Act, 2000 and Section 8(1)(b)(ii)of the same Act.”

Counsel to the prosecution, Mr Benjamin Manji, urged the court to fix a date for commencement of trial and also remand the defendant at a Correctional facility pending trial.

But counsel to the defendants, Mr B.C Igwilo (SAN) urged the court to grant bail to the 1st defendant (Wakili) which was rejected by the prosecution counsel.

In his ruling, remanded Wakili and adjourned hearing until March 31 for the bail application.

Leave a comment

Related Articles

Renewed Wike/Fubara feud: Rivers Attorney-General Adangor resigns again

For the second time in a few months, an ally of FCT...

Dana Air incident: FAAN reopens MMIA runway

Aftermath of Dana airlines overshooting the runway during its landing sequence at...

EFCC to ex-Gov. Bello: We will set aside arrest warrant if you show up in court

“I will personally apply that the arrest warrant be set aside if...

Just in: Again, Dangote further crashes diesel, aviation fuel to N940, N980

Dangote Petroleum Refinery has announced another reduction in diesel and aviation fuel...

Just in: Reps ex-Deputy Speaker Ihedioha quits PDP

The main opposition party, the People’s Democratic Party (PDP), has lost another...

CBN sells fresh dollars to BDCs at N1,021/$ as naira loses steam

The Central Bank of Nigeria (CBN) has issued another circular to Bureau...

Update: Dana Airlines’ Lagos airport incident: Aircraft grounded

The management of Dana Air has confirmed reports that one of its...

NNPC Ltd., joint venture partner, unlock 12,000bpd production from Awoba Unit Field

The Nigerian National Petroleum Company Limited (NNPC Ltd) and its joint venture...

Bullying scandal in Abuja private school stirs condemnation, management reacts

Nigerians have taken to social media over the viral video of a...

Power outages: FG set to unbundle 11 Discos, each state to get its own firm

The Federal Government says it has begun the restructuring and unbundling of...

Tinubu departs Abuja for Netherlands, attends economic forum in Saudi Arabia

President Bola Ahmed Tinubu will on Tuesday, April 23, depart Abuja for...

Merge NSCDC, FRSC with Police – IG

The Federal Government should merge the Nigeria Security and Civil Defence Corps...

NDLEA urges Lions Club, other service organizations to join war against illicit drugs

The National Drug Law and Enforcement Agency (NDLEA) has urged service and...

FG begins loan disbursement to businesses, manufacturers

“The Federal Government of Nigeria is proud to announce the operational launch...

Horrific! Babcock varsity law professor shot fatally, two others abducted in Ogun

The gunmen, who killed the lecturer, also abducted two others at the...

Ogun begins sale of rice at discounted prices to workers

Ogun State Government has commenced sale of rice to its workforce as...

NFF debunks appointing Amunike as Super Eagles coach

The Nigerian Football Federation (NFF) has described as fake news that it...

Kidnapped RCCG pastor rescued, says Oyo Govt.

The Oyo State Government announced the safe rescue of Pastor Olugbenga Olawore...

APC declares Ondo governorship primary inconclusive

In Ondo State, the All Progressives Congress (APC) 2024 Governorship Primary Committee...