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Imo State University rocked by multimillion naira scam

30 July 2016, 14:43

Abuja - An ally of Governor Rochas Okorocha, Alex Mbata is embroiled in a fixed deposit scam that has rocked the Imo State University after building contractors claim they are owed millions of Naira, Naij reports.

The contractors who are handling various infrastructural development projects at IMSU are now allegedly owed millions after the funds meant to pay them have been diverted for into a fixed account with the interest used by Mbata for his personal gain.

Also read: Arms scam: EFCC quizzes Falae

Building contracts which were meant to be completed last year are still ongoing even after the TEFTFund released N800 million for the completion of the funds.

According to sources who wanted to remain anonymous, many contracts have been abandoned after builders were not paid with claims now being made that Mbata is covering his tracks by instructing the bank to not document the fixed deposit transaction.

For more on this story, visit Naij.

- News 24


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