hehehehe....The Economic and Financial Crimes Commission (EFCC) has arrested Francis
Ayade, a brother to Governor Ben Ayade of Cross River State over
alleged N2.4billion contract scam.
Francis, the Managing Director of Leophina Nigeria Limited and Hally
Brown International Limited was arrested on Tuesday in connection with
alleged shady deals involving diversion of public funds into his
companies’ accounts.
It was gathered that four different allocations from the Federation
Accounts were allegedly diverted into Hally Brown International
Limited’s account owned by him.
EFCC operatives told The Will that the suspect allegedly took a loan
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 to
finance a N2.4billion road construction contract awarded to Hally Brown
International Limited in 2011.
However, investigations by the anti-graft agency revealed that the
loan was unused for the contract but transferred into the Mobility
Project.
Also, Francis, who was also implicated in suspicious transactions
involving Obudu Micro Finance Bank, has been offered administrative bail
but is still in the custody of the EFCC until he fulfils the bail
conditions.
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