Fani-Kayode on The Run over N2.5bn Fraud? EFCC Opens Up

Following the arrest by Economic and Financial Crimes Commission (EFCC) of former Imo State Governor, Achike Udenwa, over the disbursement of a huge sum of money during the 2015 presidential election, we gathered that the next target is Femi Fani-Kayode.

Of the N4billion withdrawn from the Central Bank of Nigeria (CBN), N2.5 billion was paid into the accounts of six chieftains of the PDP, including Udenwa, and the Goodluck Support Group (GSG).

As of last night, EFCC has launched a serious manhunt for Fani-Kayode.







Udenwa was still detained at the Lagos State office of the anti-graft agency as at the time of reporting.

Of the six people implicated, only a former Minister of Finance, Nenadi Usman, has been grilled.

The details of how Nigeria's Billions was shared are: 

Fani-Kayode (N840million); Goodluck Support Group (N320million); Achike Udenwa and Viola Onwuliri (N350million); Nenadi Usman (N140million); Olu Falae(N100m) and Okey Ezenwa (N100million).

Mrs Usman, who was granted administrative bail on health grounds, is expected for more interrogation in Lagos this week. She was said to have refunded N140 million. She signed an undertaking to make more refunds and forfeit two houses to the government.

She allegedly owns an account, “Joint Trust Dimension Nigeria Limited”, into which a substantial part of the funds was lodged and from where cash was disbursed to party chieftains.

According to a source, Udenwa, who was picked up in Enugu was flown to Lagos for questioning.

A source in EFCC said: “As part of the ongoing probe of the N2.5billion illegally collected from the CBN for campaign purpose, our operatives have arrested a former Governor of Imo State, Achike Udenwa. He was picked up in Enugu but now detained in Lagos for grilling.

“He is expected to explain how he came about N350million with a former Minister of Foreign Affairs, Prof. Viola Onwuliri. Besides getting the list of beneficiaries of the N350million, we are interested in how he will refund the cash, which was illegally taken from the CBN.”

EFCC is looking for Fani-Kayode, because he “has refused to report to the agency for interaction”.

“All attempts by our operatives to locate the whereabouts of Mr. Fani-Kayode have failed because he has not only switched off his phones, he has virtually gone underground,” the source said, adding: “We will fish him out wherever he is. Having been watch-listed by the EFCC, he cannot hide for long.”

Fani-Kayode is rated as “the chief beneficiary” of the disbursement of the slush funds as he got N840m, paid in three tranches into his Zenith Bank account.