JUST IN: Court sentence Orji Kalu to 12 years imprisonment over N7.1bn Fraud

In one of the counts, the EFCC alleged that Mr Kalu, who was Abia State Governor between 1999 and 2007, procured Slok Nigeria Limited – a company solely owned by him and members of his family – to retain its account, domiciled with the then Inland Bank Plc, Apapa branch, Lagos, an aggregate sum of N7,197,871,208.7

The prosecution claimed that the sum N7.1bn formed part of the funds illegally derived from the treasury of the Abia State Government and therefore violating Section 17(c) of the Money Laundering (Prohibition) Act, 2004, liable to be punished under Section 16 of the same Act.

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Apart from the N7.1bn, the ex-governor and the other defendants were also accused of receiving a total of N460million allegedly stolen from the Abia State Government treasury between July and December 2002.

Source: ChannelsTV

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