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EFCC Arrests SON Directors Over Missing N1.3bn |The Republic News

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Eniola Akinkuotu, Abuja

The Economic and Financial Crimes Commission has arrested and quizzed two directors of the Standards Organisation of Nigeria over an alleged N1.3bn fraud.

Sources within the EFCC told our correspondent that one of them, who is an assistant director, had been released while the other one is still in custody.

It was learnt that the arrest of the directors is pursuant to the investigation into a petition received by the agency from a body known as Peculiar Systems Services dated February 24, 2016 alleging gross financial mismanagement and embezzlement of public funds to the tune of N200m in SON.

However, investigators were startled when they discovered that more than N1.3bn was siphoned from the coffers of SON by the affected directors and their collaborators in bogus payments

A detective at the commission said, “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.” (Punchng.com)

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