The brother of the Cross River State Governor who is allegedly involved in a N2.4billion fraud has been arrested by the EFCC.
Governor Ben Ayade of Cross Rivers State
The brother of the Cross Rivers State Governor, Ben Ayade has been
arrested by the Economic and Financial Crimes Commission over alleged
N2.4billion contract scam.
The man identified as Francis Ayade was arrested on Tuesday is the
managing director of Leophina Nigeria Limited and Hally Brown
International Limited. He is said to have been involved in the alleged
shady deals and diversion of public funds using accounts of his
companies.
According to Premium Times, an official is quoted as saying: “Specifically,
four different allocations from the Federation Accounts were alleged to
have been diverted into Hally Brown International Limited’s account
owned by him."
Further details by the EFCC revealed that Hally Brown International
Limited was awarded a road construction contract to the tune of
N2.4billion in 2011. Mr. Ayade is said to have taken a loan of of
N350,000,000 (Three Hundred and Fifty Million Naira only) from First
Bank Plc, on behalf of Cross Rivers Rural Access and Mobility Project.
It was later found out that the loan was not used for the contract
but was diverted to the Mobility Project. Mr. Ayade has also been
implicated in alleged suspicious transactions involving Obudu Micro
Finance Bank, among other allegations.
He has secured an administrative bail but still in the custody of
the EFCC pending when he fulfills the bail conditions. The EFCC are
still investigating the matter to determine if Governor Ayade is linked
to the alleged scam.
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