EFCC Arraigns Businessman For Alleged N21m Fraud

The Economic and Financial Crimes Commission has arraigned one Mohammed Abubakar, a businessman, on a one-count charge bordering on breach of trust, dishonesty and diversion of funds to the tune of about N21m.

He was arraigned before Justice S. Belgore of the Federal Capital Territory High Court, Apo, on Wednesday.

Abubakar was arrested and charged following a petition by Finlab Nigeria Limited. 

The company alleged that the defendant collected goods on credit with a promise to pay as soon as the contract sum was paid.

However, when the money for the contract was received by Abubakar, he diverted the money to his personal use and failed to honour the terms of the agreement with Finlab.

Belgore adjourned the case for trial.

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