EFCC Insists Lagos Businessman Diverted N164m To His Company, Others

The Economic and Financial Crimes Commission (EFCC) has insisted that a Lagos businessman, Fidelis Umukoro, diverted funds from A&P Foods Limited.

Umukoro is facing trial for alleged N164million fraud before Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos.

The defendant faces a six-count charge bordering on conspiracy and stealing and pleaded “not guilty”.

EFCC counsel, T. J. Banjo told the court that he committed the crime when he was the authorised signatory to the company account.

During cross-examination, Banjo said the funds were diverted to Raremax Global Investments Limited and others.

The defendant was a former Managing Director at Raremax, a firm he had an interest.

After the cross-examination, defence counsel, P. O. Ogunnubi, announced he was closing his case.

Umukoro was arraigned on February 11, 2020, alongside Raremax Global Investments Limited.

Justice Dada earlier dismissed the no-case submission as lacking in merit.

The judge adjourned the matter to July 13, 2022, for the “adoption of final written addresses”.