N1.358bn Cooperative Fraud: Court Remands 2 MTN Staff, Others In EFCC Custody

A Lagos High Court in Ikeja yesterday remanded two employees of telecommunication giant, MTN, and three others in the custody of the Economic and Financial Crimes Commission (EFCC) for allegedly stealing N1.358 billion belonging to the company’s cooperative society.

The trial judge, Justice Kudirat Jose, gave the order after the accused persons, Victor Akintunde, Gani Mustapha, Mutairu Babatunde, Prima Vera Engineering and Construction Ltd and Mabo Dredging Ltd were charged before her by the commission.

They are facing a 17-count charge of conspiracy, stealing, obtaining by pretence, forgery and issuance of dud cheque.

According to the EFCC’s lawyer, Emmanuel Jackson, the accused persons who committed the offence in April 8, 2008, conspired to steal the sum of N127million, property of MTN employees Multi-Purpose Cooperative Society (MEMCOS).

The lawyer also alleged that the men on the same day, with intent to defraud, stole the sum of N50million belonging to MTN employees Multi-Purpose Cooperative Society, adding that the sum was fraudulently collected as deposit for payment for land they bought for the society from one Mutairu Baba Egbe Family on behalf of the society.

Jackson, further informed the court that the accused persons conspired to steal the sum of N77million, property of the Cooperative Society, being outstanding refund for five hectares out of 13 hectares of land they bought for the society, from Mutairu Baba Egbe Family, that they claimed had a defective title.
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