EFCC arraigns woman for alleged N39.8 million fraud at fidelity structures

EFCC arraigns woman for alleged N39.8 million fraud at fidelity structures

The Enugu Zonal Command of the Economic and Financial Crimes Commission (EFCC) has arraigned Nwodo Martha, a former Principal Manager at Fidelity Structures Limited, before Justice H. U. Ezugwu of the Enugu State High Court. Martha faces nine charges of stealing by fraudulent conversion, amounting to N39.8 million.

One of the charges specifies that between February and December 2017, Martha allegedly converted N5.84 million, intended for the purchase of brewery products, for personal use. Another charge alleges that from February to December 2021, she converted N19.52 million, also meant for brewery products, for her own use. These acts contravene Section 342 of the Criminal Code Law and are punishable under Section 353 (1).

Martha pleaded not guilty. EFCC counsel Ahmad Yusuf Abdullahi requested a trial date and for her to be remanded in custody. Defense counsel Chukwuemeka Okpoto Onah applied for bail, which Abdullahi opposed due to the severity of the charges. The court granted Martha bail at N10 million with a surety, a level 13 civil servant, and ordered her remand pending bail condition fulfillment.

The case was adjourned to July 24, 2024, for trial. Martha’s arrest followed a petition from Fidelity Structures, accusing her of unauthorized actions, including selling company vehicles and misappropriating payments.

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