Alleged N7.2bn Fraud: Kalu Knows Fate Dec. 5

Former Abia Governor and now a Senator Orji Kalu will know his fate on Dec. 5 when a Federal High Court in Lagos is expected to deliver judgement in a N7.2bn fraud case filed against him by the Economic and Financial Crimes Commission (EFCC).

The EFCC prosecuted Kalu and a former Commissioner for Finance in the state, Ude Udeogo. Also charged along with Mr Kalu is a company, Slok Nig. Ltd.

The judgement could not be delivered on Monday as earlier slated, as Justice Mohammed Idris was not available.

The EFCC had on Oct. 31 2016, preferred a 34-count charge against the defendants. The charge was later amended to 39 counts.

The defendants, however, pleaded not guilty to all the counts, and were granted bail.

Justice Idris, who tried the case, was promoted to the Court of Appeal.

He consequently conducted and concluded the trial by fiat.

Following accelerated hearing, Justice Idris concluded the trial in August.

On October 22, both the prosecution and defence counsel adopted their written submissions before the court.

The judge then reserved judgement now to be delivered on Dec. 5.

In the charge, the EFCC said that the defendants committed the alleged offences between August 2001 and October 2005 when he was governor.

It said that  Kalu utilised his company’s account to retain N200m in First Inland bank (now First City Monument Bank).

The commission said the sum formed part of funds illegally derived from the coffers of the Abia State Government.

In one of the counts,  Kalu’s company (Slok Nig. Ltd.) and Emeka Abone said to be at large, were alleged to have retained in the company’s account, the sum of N200 million on behalf of the ex-governor.

In counts one to 10, the defendants were alleged to have retained about N2.5bn belonging to the Abia.

The EFCC said that the defendants diverted over N7.2 billion from Abia government’s treasury during Mr Kalu’s tenure as the governor, in contravention of Sections 15(6), 16 and 21 of the Money Laundering (Prohibition) Act, 2005.

The commission said that the offences also contravene the provisions of the Money Laundering Act of 1995 as amended.

Author: NewsAdmin

5117 stories / Browse all stories

Related Stories »

Provide your email below, and we will notify you the latest news freely.


calendar »

December 2019
« Nov