26.8 C
Washington
spot_img

EFCC arraigns insurance broker for diversion of N26bn PHCN pension

Date:

Share:

EFCC arraigns insurance broker for diversion of N26bn PHCN pension

An insurance broker named Abiodun Waheed Hassan, alongside his firm, Bestworth Insurance Brokers Limited, was arraigned on Thursday, February 25, on a five-count charge of misappropriating over N26billion PHCN pension fund.

 

Hassan was arraigned by the Economic and Financial Crimes Commission (EFCC), before Justice S.C Oriji of the Federal Capital Territory High Court, Apo, Abuja.

 

Abiodun allegedly diverted humongous sums of money earmarked for the payment of outstanding insurance premiums and claims of deceased and incapacitated staff of Power Holding Company of Nigeria (PHCN), into the corporate account of entities.

 

In one count of the charge, the insurance broker diverted N26 billion paid into the insurance firm account into another bank account on January 25, 2015. Count five of the charge alleged that Abiodun misappropriated six billion naira.

 

He, however, pleaded not guilty to the charges.

 

Justice Oriji adjourned the matter till March 4, 2021 for hearing on the bail application and remanded defendant in EFCC custody.

icon share

facebook sharing button

Subscribe to our magazine

━ more like this

The 10 Essential Health Benefits: All You Need to Know

  The Affordable Care Act (ACA) has required insurance plans to cover 10 particular services since 2014. Numerous individual health policies or plans made available...

Monkeypox Diet: 5 Food Items That Will Help You Recover Well Instantly

To recover from monkey pox, incorporate these items into your diet. Cases of monkeypox are quickly increasing throughout India. According to an earlier prediction, the...

Common Fruits You Should Always Eat To Avoid Kidney Diseases

Common Fruits You Should Always Eat To Avoid Kidney Diseases Frequently Eaten Fruits to Prevent Kidney Diseases Some common fruits contain a high concentration of nutritional...

Check Out How To Use Watermelon And Garlic To Prolong The Time With Your Partner Every Night.

  Do you struggle with emptiness and low or insufficient libido all the time? Do you feel apprehensive about getting into bed with your partner?...

7 Herbs and Spices and Their Health Benefits: Here’s Why You Must Add These Culinary Wonders to Your Food

Herbs and spices have been utilized for over a thousand years. Aside from contributing flavor to meals, each has its own set of health...
spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here