EFCC Arraigns Professor For N1.4bn Fraud

Economic and Financial Crimes Commission (EFCC) has arraigned one Professor Uche Chigozie Edwin before the Federal High Court in Lagos for allegedly defrauding Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN) of N1.4 billion.

The EFCC docked Edwin before Justice Nicholas Oweibo alongside three of his firms, Visionary Integrated Consulting Limited, NEMAD Associates Limited and Revamp Global Enterprise, on an 11-count charge of conspiracy, retention and conversion of funds to the tune of N1, 473,367,046.04.

The anti-graft agency told the court through one of its lawyers, Christopher Okezie, that the money belonged to Maise growers and marketers and that the defendants committed the offences “sometime in 2021 in Lagos.”

The defendant, however, pleaded not guilty to the charge.

Based on the plea, Okezie asked the court for a trial date and prayed that the defendant be remanded in the custody of the Nigerian Correctional Centre.

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But the defence counsel, Mobolaji Akintunde, urged the court to grant his client bail and that pending the perfection of the bail conditions, he should be remanded in the EFCC’s custody.

In a bench ruling, Justice Oweibo granted Edwin bail in the sum of N1 million with two sureties in like sum.

The judge held that the sureties must possess landed properties within the court’s jurisdiction and that they must show and submit to the court a tax clearance certificate of three months as well as their passport photographs.

The defendant was also ordered to deposit his passport with the court.

The judge has adjourned the case till June 27 for the commencement of the trial.

One of the counts on the charge claimed they “conspired to use the sum of N1, 473,367,046.04 property of the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN), which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit: fraud; and you thereby committed an offence, contrary to Section 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3) of the same Act.”