News  |  Nigeria  |  National  

EFCC arraigns Bestworth’s director for alleged misappropriation of N10.2bn

25 February 2021   |   3:12 pm  

EFCC

The Economic and Financial Crimes Commission (EFCC), on Thursday, arraigned a director of the defunct Abiodun Hassan before Justice Sylvanus Oriji of the FCT High Court, Apo, for alleged misappropriation of over N10.2billion.

Hassan was arraigned alongside his company, Bestworth Insurance Brokers Limited, on alleged misappropriation of fund.

The defendants were arraigned on a five-count charge bordering on criminal breach of trust and cheating.

The News Agency of Nigeria (NAN) reports that Hassan is the first defendant in the suit marked: FCT/HC/CR/021/2021, while the company, Bestworth Insurance Brokers Limited is the second defendant.

In the charge, the prosecution alleged that the sum of N26.2billion was entrusted to the defendants by the Central Bank of Nigeria, ( CBN), being an insurance claim for defunct Power Holding Company of Nigeria (PHCN), the deceased and incapacitated staff.

The prosecution in the charge also alleged that, at various times, the sum of N2.5billion, N1billion, N118million, N30million and N6.6billion were misappropriated from the N26.2billion by the defendants.

After all the counts were read to him, Hassan pleaded not guilty.

The EFCC counsel, Benjamin Manji, prayed the court to remand him in custody pending the determination of the matter.

Hassan counsel, Adeolu Salako however, informed the court that he had a motion for bail for his client before it.

Salako, also urged the court to allow him to be kept at the EFCC custody while praying the court to grant his application for bail.

Justice Oriji, however, adjourned the matter until March 4, for the hearing of the motion for bail.

You may also like

45 mins ago
A war monitor said Israeli air strikes Friday on Syria's north killed 36 soldiers and six Hezbollah fighters, the latest deadly raid on Iran-backed forces in the country since the Israel-Hamas war began.
NOW
King of the Ewu kingdom, Clement Ikolo, who is one of the suspects declared wanted by the Nigerian military, has been handed over to the military by the police. The spokesperson for the Delta State Police Command, Bright Edafe, confirmed this on Friday. The monarch was one of the eight persons declared wanted by the…
15 mins ago
South Africa's former president Jacob Zuma survived a car accident overnight after a vehicle transporting him was hit by a drunk driver, police said on Friday