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Finance manager swindles Rivers State Board

05 June 2014, 10:46

Abuja - A finance manager and his company have been arraigned Federal High Court, Port Harcourt on a four-count charge bordering on conspiracy, forgery, and obtaining money by false pretense.

According to the Economic and Financial Crimes Commission (EFCC), Akintunde Ajao, allegedly used his company, YPSL Nigeria Limited, to prepare a false tax liability for Cetco Oilfields Services Limited to the tune of N74, 9 million under the guise of acting on a directive emanating from the Rivers State Board of Internal Revenue (RSBIR) but he remitted the sum of N26 million the Rivers State Board of Internal Revenue (RSBIR).

EFCC alleged the scam occurred in 2012 in violation of the Advance Fee Fraud and Other Fraud Related Offences Act and Miscellaneous Offences Act CAP M17 of the Revised Edition (Laws of the Federation of Nigeria) Act, 2007.

Ajao pleaded not guilty to all the charges preferred against him and his company when they were read to him. In view of his plea, the prosecuting counsel, Ramiah Ikhanaede, prayed the court for a date for commencement of trial.

The defence counsel however urged the court to grant the accused bail.
Justice Lambo Akanbi granted the accused bail in the sum of N500 000 with two sureties in like sum.

The matter was adjourned to June 26 for trial.

– CAJ News

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