Court orders Imo deputy speaker’s arrest for alleged N785m fraud

Justice Inyang Ekwo of the Federal High Court, Abuja, on Friday ordered the arrest of the Deputy Speaker of the Imo State House of Assembly, Amarachi Iwuanyawu, over an alleged N785 million fraud.

The judge, who gave the order while ruling in an ex-parte application filed by the Economic and Financial Crimes Commission (EFCC), also directed the commission to detain the deputy speaker in its facility till February 23, 2023, whenever he was arrested.

The EFCC had in the application filed by one Olanrewaju Adeola accused Iwunayawu of using his company, Sun Gold Estate Limited, to perpetrate the fraud.

READ ALSO: Imo court orders interim forfeiture of Okorocha’s properties

The commission alleged that the deputy speaker entered into an agreement with another Abuja-based Company, Hokiz Investment Limited, for the construction of 14 units of four bedrooms terrace and one block of six flats on a piece of land in Abuja.

According to the EFCC, the two parties agreed that 40 percent of the buildings would be allocated to Hokiz Investment Limited and 60 percent for Sun Gold Estate.

The deputy speaker and his company however reneged on the agreement.

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