EFCC Press Release
Felix Maduegbuna and Stephen
Fakrogha, former chairman and secretary, respectively, of Orgba Multi-Purpose
Co-operative Society Limited, Gboko, Benue State whose trial on a two-count
charge bordering on conspiracy and criminal breach of trust, started
on June 29, 2012 have been found guilty of the charge brought against them by
the Economic and Financial Crimes Commission.
The Ministry
of Mines and Steel Development, MMSD, is said to have awarded the above
Co-operative Society the sum of N4,826,850 for the procurement
of certain specified equipment.
The duo however breached the
agreement entered into with MMSD and diverted the said money by granting loans
to all the members of the Society, at the rate of N300,000 (three hundred
thousand naira) contrary to the purpose for which the loan was granted them.
Justice Ademola Adeniyi of
the Federal Capital Territory High Court, Apo, Abuja found the accused guilty
of the charge brought against them and sentenced them to three months
imprisonment each on count one, with an option of fine in the sum of N1,250,000
(one million, two hundred and fifty thousand naira).
He also found them guilty of count two, and sentenced them
to two years imprisonment with an option of fine in the sum of N1,250,000 (one
million, two hundred and fifty thousand naira)
The sentences are to run
consecutively.
Wilson Uwujaren
Head, Media & Publicity
19th February, 2015
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