News

EFCC arrests ex-Edo Governor Igbinedion over alleged N1.6bn theft

A former Governor of Edo State, Chief Lucky Igbinedion, is being grilled by operatives of the Economic and Financial Crimes Commission (EFCC)over alleged theft of N1.6 billion belonging to the state.

Punch newspaper reports that Igbinedion, who had been convicted of money laundering after leaving office, is being investigated over alleged criminal diversion of funds which he was said to have used in settling debts incurred by a firm in which he has considerable interest.

Igbinedion governed Edo State from 1999 to 2007.

The newspaper quotes an unnamed official of the EFCC as saying that: “The new investigation is based on fresh evidence that the former governor diverted a loan obtained by the Edo State Government to finance an investment during his tenure to settle the financial indebtedness of a company in which he has interest.”

EFCC spokesperson, Wilson Uwujaren, confirmed Igbinedion’s arrest to Punch but wouldn’t provide further details.

In 2008, a Federal High Court sitting in Enugu convicted Igbinedion of money laundering and ordered him to return N500 million and three houses to the federal government as part of a plea bargain agreement.

The court thereafter sentenced him to six months in prison with the option of a N3.5 million fine.

Leave a Reply

Your email address will not be published. Required fields are marked *