A protection merchant named Abiodun Waheed Hassan, close by his firm, Bestworth Insurance Brokers Limited, was summoned on Thursday, February 25, on a five-check charge of misusing over N26billion PHCN annuity reserve.
Hassan was charged by the Economic and Financial Crimes Commission (EFCC), before Justice S.C Oriji of the Federal Capital Territory High Court, Apo, Abuja.
Abiodun purportedly redirected humongous amounts of cash reserved for the installment of remarkable protection charges and claims of expired and weakened staff of Power Holding Company of Nigeria (PHCN), into the corporate record of substances.
In one tally of the charge, the protection intermediary redirected N26 billion paid into the protection firm record into another financial balance on January 25, 2015. Tally five of the charge claimed that Abiodun misused six billion naira.
He, in any case, argued not liable to the charges.
Equity Oriji suspended the matter till March 4, 2021 for hearing on the bail application and remanded respondent in EFCC guardianship.
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