Ex-Kebbi senator in court for N419m business fraud
Ex-Kebbi senator in court for N419m business fraud
A former senator from Kebbi State, Umaru Argungu, was on Monday arraigned before Justice Mohammed Mohammed of the Sokoto State High Court for fraud to the tune of N419,744,612.30.

Argungu was arraigned by the Economic and Financial Crimes Commission on one count of criminal misappropriation of public funds.

The ex-senator was said to have diverted the said sum, which was paid by the Sokoto State Government as 40 per cent equity stake in Hijrah Investment Nigeria Limited, owners of Hijrah Textiles Limited.

According to the EFCC, the Sokoto State Government had agreed with the former senator to buy 40 per cent stake in his company, Hijrah Investment Nigeria Limited, to create jobs and boost the economy of the state.

He pleaded not guilty to the charge.

Justice Mohammed granted the defendant bail in the sum of N50m and two sureties in like sum, adding that the sureties must reside and have property within the jurisdiction of the court.

The judge ordered that the defendant’s passport should be deposited with the court.

Justice Mohammed adjourned the matter till March 18, 2021, for the commencement of trial.

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