Politics

EFCC freezes Falae’s account, detains Fani-Kayode over campaign funds   

The Economic and Financial Crimes Commission has frozen the bank  account of  Marecco Nigeria Limited belonging to a former Secretary to the Government of the Federation, SGF, Chief Olu Falae.
The company’s account with the United Bank for Africa, UBA, with account number 1000627022, was frozen as the anti-graft agency continues  investigations into the N4 billion allegedly disbursed by the Goodluck Jonathan Campaign Organisation during the build-up to the 2015 presidential election.
In the same vein, the EFCC, also on Monday detained a former Minister of Aviation, Chief Femi Fani-Kayode, for receiving N840m from the campaign funds.
Fani-Kayode arrived the EFCC headquarters  at 9.45am and was still with operatives of the agency as at 8.40pm last night.
Falae was alleged to have received N100 million alleged to have been sourced from the Central Bank of Nigeria, CBN.
The disbursement of the fund was said to have been done by former Minister of Petroleum Resources, Diezani Alison-Madueke.
Sources within the commission revealed that Fani-Kayode was asked to return the N840 million he allegedly received for the prosecution of the Presidential election last year, but he insisted that the money was properly utilized.
The source said he would be granted administrative bail on condition that he returned the money, while other conditions set for the proposed bail included producing two sureties who must be serving directors in the federal civil service and who must be landlords in Abuja.
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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

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