N1.3bn fraud: ‘EFCC quizzes 2 SON directors’

The Economic and Financial Crimes Commission (EFCC) has quizzed two directors of the Standard Organization of Nigeria (SON) over alleged N1.3bn fraud, Punch reports.

According to the newspaper, one of them have been released after being extensively grilled while the other is still in the agency’s custody.

An entity known as Peculiar Systems Services in a petition dated February 24 had alleged that about N200m was embezzled in SON.

Upon investigations, the EFCC however discovered that over N1.3bn was stolen from the agency’s funds.

“We have arrested two directors for their alleged role in a N1.3bn fraud scandal rocking the agency.  One of the directors is currently in the custody of the anti-graft agency while the other, as assistant director, was arrested a few weeks ago and released on administrative bail after making statement before a team of detectives.

“We arrested them as part of investigation into a petition alleging gross financial mismanagement and embezzlement of public funds to the tune of N200m in SON. But in the course of the investigation, we found that more than N1.3bn was siphoned from the coffers of SON by the affected directors and their collaborators in bogus payments.

“What we are doing now is profiling the accounts of the affected staff to determine their level of involvement. We are determined to bring all those directly involved n the fraud to book,” a detective said.

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