JUST IN: Former Kwara Gov Present in Court as EFCC Arraigns Ex commissioner for Alleged N1bn Fraud

• Nigeria's anti-graft agency, the EFCC, has arraigned a former commissioner for finance in Kwara state, Ademola Banu
• Banu was arraigned over alleged money laundering and misappropriation of state funds to the tune of N1.22 billion
• The defendant was alleged to have, among other offences, conspired to divert the huge sum during the administration of Abdulfatah Ahmed, between May 2011 and May 2019 when he served as a commissioner

Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering public journalism in Nigeria.

Ilorin, Kwara state - The Economic and Financial Crimes Commission (EFCC), on Monday, April 29, 2024, arraigned Ademola Banu, a one-time commissioner for finance in Kwara state, northcentral Nigeria.

Banu was arraigned at the federal high court, Ilorin, over alleged money laundering and misappropriation of state funds of about N1.22 billion.

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Among other allegations, the EFCC said Banu conspired to divert N1.22 billion during Governor Abdulfatah Ahmed's administration.

At a resumed sitting on Monday, April 29, the two defendants - Ahmed and Banu - were present in court.

EFCC's battle with politically exposed persons

The EFCC is currently investigating several politically exposed persons (PEPs) for alleged corrupt practices.

Alleged money laundering and embezzlement by PEPs in Nigeria have become difficult to stop despite the number of agencies put in place to rigorously implement the prevention and enforcement of the anti-money laundering (AML) regime.

Falling under the threshold of the PEP is not synonymous with being corrupt; however, it puts them at high risk of money laundering because of their substantial authority over state assets, funds, and other public expenditures.

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Alleged fraud: Ahmed explains EFCC probe

Legit.ng earlier reported that Ahmed explained why he visited the headquarters of the EFCC in Abuja.

Ahmed said he was not arrested or grilled over alleged N9 billion fraud.

He stated that he was invited to shed light on a certain contract awarded by the state government while he was the commissioner of finance under former governor Bukola Saraki.

Source: Legit.ng