Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


MTN fraud suspects secure bail

26 February 2014, 16:19Henry Ifeanyi

Lagos -  The two MTN employees accused of defrauding the mobile network company of N1.36 billion have been granted bail.

Victor Akintunde and Gani Mustapha, who are officials of MTN Staff Corporative Society, are facing a 17-count charge bordering on conspiracy, stealing, forgery and issuance of dud cheques.

The Economic and Financial Crimes Commission (EFCC) preferred the charges against them.

They are facing trial alongside one Mutairu Babatunde and two companies, Prima Vera Engineering and Construction limited and Mabo Dredging.

Ruling on the MTN pair’s bail application on Wednesday, Justice Kudirat Jose of the Ikeja High Court granted them bail to the sum of N50million with two sureties.

The judge ordered that the sureties must be civil servant of Grade Level 15 or above with three years tax clearance.

She subsequently adjourned the case till March 18 for trial.

EFCC counsel, Emmanuel Jackson, during arraignment, said the defendants committed the alleged offences in April 2008.

He said with intent to defraud, Akintunde, Mustapha, Babatunde alongside their companies Prima Vera Engineering and Construction Limited, Mabo Deredging Limited, conspired to steal the sum of N127 million, property of MTN employees Multi-Purpose Cooperative Society (MEMCOS).

Jackson, also said that the defendants on the same day with intent to defraud stole the sum of N50million belonging to MTN employees Multi-Purpose Cooperative Society.

He alleged that the sum was fraudulently collected as deposit for payment for land they bought for the society from one Mutairu Baba Egbe Family on behalf of the society.

The prosecutor, further alleged that the suspects conspired to steal the sum of N77 million, property of MTN employees Multi-Purpose Cooperative Society (MEMCOS), being outstanding refund for five hectares out of 13 hectares of land with defective title  from Mutairu Baba Egbe Family.

Jackson stated that Babatunde and Primavera Engineering and Construction ltd, stole the sum of N516.697million, property of (MEMCOS) being the sum he fraudulently used to compensate early settlers in 26 hectares of land amounting to 321 plots of land.

The Anti- graft agency also alleged that the defendants on August 2009 stole the sum of N515 697, property of MEMCOS which they fraudulently converted through Mabo Dredging.

According to the counsel, the defendants stole N592.8 million from MEMCOS under false pretence.

The defendants were also said to have, obtained the sum of N990 million under the pretence that the money represents payment for 13 hectares of land at Okun Ajah Community.

The third, fourth and fifth, defendants, were particularly accused of issuing a First Bank cheque in favour of MEMCOS, which was dishonured for insufficient funds.

 –   CAJ News

For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page.


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...