The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned the Managing Director of Benue State Agricultural Development Company (BS-ADC), Mr. Donald Akule, for alleged N59.8 million fraud at the Federal High Court, Makurdi.
Akule was arraigned on an eight-count charge of criminal breach of trust, stealing and diversion of public funds.
The prosecution counsel, A.S. Idris said the accused was arrested by the commission following the receipt of a petition against him for alleged criminal breach of trust and stealing.
Idris said the petitioner alleged that the funds belonged to the BS-ADC for the supply of grains to the state government.
“Investigation revealed that the MD/CEO was not able to pay for the grains supplied by some contractors because he diverted a substantial part of the funds meant for the purchase for his personal use.
“The money diverted was part of the N486 million sent to the company by the Benue Investment and Property Company (BIPC) for the purpose of fish cultivation, grain purchase and warehouse renovation.
“Further investigation revealed that the monies received by BS-ADC from BIPC for the purchase of grains, part of which he diverted directly to his private account,” the prosecutor stated
He said the accused sometimes in 2024 used Udeco Engineering Company, a company owned by his friend, Henry Ude and awarded contracts for the construction of perimeter fencing, gate house, warehouse renovation, supplies and installation of CCTV for N195.8 million without due process.
Idris added that the accused used part of the purported contract sum of N31.9 million for his benefit and thereby committed an offence contrary to section 19 of the Corrupt Practices and Other Related Offences Act 2000 and punishable under the same act.
Idristold the court that the action was contrary to Section 1(1)(b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under section 1(3) of the same Act.
However, the defendant pleaded not guilty to the charges and applied for bail application.
Justice Raphael Egbe remanded the defendant at the Makurdi Correctional Centre Makurdi and adjourned the case to January 29 for a hearing of the bail application.
