N190m Fraud: EFCC To Arraign Ex-Head Of Service, Oronsaye On Tuesday

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The Economic and Financial Crimes Commission (EFCC), will on Tuesday, March 15, arraign the former Head of Service to the Federal Government, Stephen Oronsaye in Court for alleged corruption and obtaining money by false pretense, amounting to N190million.

Stephen Oronsaye and the damning report hanging on his neck: Premium Times
Stephen Oronsaye and the damning report hanging on his neck: Premium Times

Speaking on the matter on Saturday, the Head of Media and Publicity of the commission, Wilson Uwujaren said the EFCC filed the fresh charges against Oronsaye following the completion of its investigation.

Oronsaye’s arrest came about eight months after a federal court in Abuja ordered him released from detention after he was docked for an alleged N6.2billion fraud.

Mr. Oronsaye who is already being prosecuted by the EFCC on 24-count charge of money laundering before a Federal High Court, Abuja, is alleged to have abused his position as Chairman of the Presidential Committee on Financial Action Task Force and obtained a sum of N240million from the Central Bank of Nigeria in the guise of assistance to the Committee without the knowledge of other committee members and proceeded to convert the said sum to his personal use.

The fresh two-count charge filed against Mr. Oronsaye at the Federal Capital Territory High Court reads:

“Stephen Oronsaye a.k.a. Mr Steve Oronsaye on or about 12th June, 2013 at Abuja within the jurisdiction of the High Court of the Federal Capital Territory whilst being the Chairman of the Presidential Committee on Financial Action Task Force and in such capacity entrusted with certain property to wit: the sum of N90,000,000.00 ( Ninety Million Naira) committed Breach of Trust in respect of the said sum by converting it to your personal use through the investment of the said sum of N90,000,000.00 in Access Bank Plc’s Bankers Acceptance for a tenor of 90 days at 9.0% interest rate in violation of the extant financial regulations

“Stephen Oronsaye a.k.a. Mr Steve Oronsaye on or about 30th December, 2014 at Abuja within the jurisdiction of the High Court of the Federal Capital Territory whilst being the Chairman of the Presidential Committee on Financial Action Task Force and in such capacity entrusted with certain property to wit: the sum of N100,000,000.00 (One Hundred Million Naira) committed Breach of Trust in respect of the said sum by converting it to your personal use through the investment of the said sum of N90,000,000.00 in Access Bank Plc’s Bankers Acceptance for a tenor of 90 days at 12.0% interest rate each in violation of the extant financial regulations”.

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