October 16, 2018

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Bank MD who bought 134 buses, 20 houses with N11.4 bn slush cash arrested by EFCC (Vanguard)

Bank MD who bought 134 buses, 20 houses with N11.4 bn slush cash arrested by EFCC  (Vanguard)

The Economic and Financial Crimes Commission has arrested the Managing Director of Platinum Multi-purpose Cooperative Society Limited, Mr. Michael Osasogie Obasuyi, for alleged conspiracy, cybercrime and laundering of N 11.498 billion According to EFCC, Mr. Obasuyi, who is also the Managing Director of Smartmicro Systems Ltd, had written a petition in March 2018 to the commission against a mobile and electronic payment provider firm. The anti-graft agency said in a dramatic twist, the petitioned company had also written a counter-petition against Smartmicro and Obasuyi, leading the commission to begin investigations into the activities of Obasuyi. Read more

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