The Economic and Financial Crimes
Commission, EFCC, Ibadan Zonal Office has arrested the Mr. Stephen Alao and Mr.
Adams Osabuohien. Executive Chairman and
Director of Finance respectively, of the Edo State Universal Basic Education
Board (SUBEB), in connection with an
alleged case of abuse of office, diversion and misappropriation of funds to the
tune of one billion and five hundred million naira (N1.5bn)
The duo who are still being
interrogated by the operatives of the Commission were arrested on Tuesday 22nd
of November, 2016.
Alao and his accomplices allegedly
inflated contracts, approved bogus weekly Duty Tour Allowances (DTA) for nonexistent
conferences, used fictitious companies to defraud the board and sold Government
properties without remitting same to Government account.
Others fingered in the alleged fraud
are still being investigated to ascertain their level of culpabilities.
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