Lagos State chapter of the Economic and Financial Crimes Commission, EFCC have arrested Adeleke Adeyemi over alleged conspiracy.
The Nigeria’s anti-graft agency accused Adeyemi and his accomplice, Odusanya Ayotunde Memphis of money diversion and money laundering to the tune of N800 million.
Spokesman of the state commission, Wilson Uwujaren, while confirming the arrest of Adeyemi in a statement on Friday, April 9, said Memphis is now at large and that manhunt had been launched to get hold of him.
In their capacities as Directors at Wafa Aggregate Limited, they allegedly approached EcoBank Plc for an N800 million loan to procure petroleum products from Covalent Oil & Gas Services Limited in October 2011. But after obtainment, Adeyemi and Memphis allegedly diverted the funds to their personal use and defaulted in paying back the loan.
“Investigation revealed that the five Diamond Bank Plc cheques of N10 million each issued by the suspect and his accomplice were returned unpaid upon presentation”, Uwujaren noted.
The statement added that Adeyemi will soon be charged to court while the search for Odusanya is still on.
