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    Home»News»African News»West African News»Nigeria News»EFCC to Arraign Oil Services Manager for N48.9m Fraud

    EFCC to Arraign Oil Services Manager for N48.9m Fraud

    Nigeria News By Kunle EdunMay 25, 2014No Comments2 Mins Read
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    Akintune AjaoThe Economic and Financial Crimes Commission, EFCC has concluded arrangement to arraign the Finance Manager of Cetco Oilfield Services Limited, Akintunde Ajao alongside his company, YPSL Limited for offences bordering on forgery, conspiracy and obtaining money under false pretences.

    The Commission on May 21, 2014, filed four-count information at the Federal High Court, Port Harcourt, River State against the suspect.

    The suspect allegedly  acting on a directive purportedly  from the River State Board of Internal Revenue (RSBIR) diverted the sum of fifty-two million, two hundred and eighty two thousand (52, 282, 000:00)  to YPSL Limited, a company allegedly promoted by him, to defrauded Cetco Oilfields Services Nigeria Limited.

    See also  Industrialisation: Ogun Set to Establish 50 Hectare Cocoa Plantation

    Investigations by the Commission revealed that Ajao used his office as Finance Manager to prepare a letter purportedly signed by the Chairman of the Board showing a false tax liability of Cetco Oilfield Services Limited to the tune of seventy four million, nine hundred and sixty three thousand, seven hundred and twelve naira , eighty kobo  (74,963,712,80) out of which he, on behalf of  Cetco, remitted the sum of Twenty-six million, eighteen thousand naira to the RSBIR as the actual tax liability of the company and converted the balance of forty eight million nine hundred and forty five thousand,  seven hundred and twelve naira,  eighty kobo (48,945,712:80) to his personal use.

    See also  EFCC Arraigns Three For Defrauding Lulu Briggs Foundation

    Media & Publicity
    23rd May, 2014

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    EFCC News EFCC Nigeria EFCC Press Release Nigerian News
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