Professor Arraigned In Court For N1.4b Fraud

Prof Uche Chigozie Edwin has been arraigned in court on Thursday over an alleged N1.4bn fraud.

He was arraigned before Justice Nicholas Oweibo of the Federal High Court sitting in Ikoyi, Lagos by the Economic and Financial Crimes Commission. 

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Edwin was arraigned alongside his companies, Visionary Integrated Consulting Limited, NEMAD Associates Limited and Revamp Global Enterprise.

They were arraigned on an 11-count charge bordering on conspiracy, retention and conversion of funds to the tune of N1, 473,367,046.04.

The said money was said to belong to Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN).

He had pleaded not guilty to the 11-count charge read to him.

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One of the counts reads: “ That you, Professor Uche Chigozie Edwin, Visionary Integrated Consulting Limited, Nemad Associates Limited and Revamp Global Enterprise, sometime in 2021 in Lagos, within the jurisdiction of this Court, conspired amongst yourselves to use the sum of N1, 473,367,046.04 (One Billion, Four Hundred and Seventy-Three Million, Three Hundred and Sixty-Seven Thousand, Forty-Six Naira, Four Kobo), property of the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN), which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit: fraud; and you thereby committed an offence , contrary to Section 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3) of the same Act.”

The prosecution counsel, C.C.Okezie, asked the court for a trial date and also prayed that the defendant be remanded.

The defence counsel, Mobolaji Akintunde, in response, made an application for bail on behalf of his client.

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