Patrick Akpobolokemi is being accused by the EFCC, of conspiring with others to convert the sum of N601, 516.13 and $1, 766, 428.62, property of NIMASA, into private concerns; conversion of NIMASA’s N27,690,113.79 and
$17, 491, 378.64, as well as another N27, 690,113.79 and $17, 491, 378.64, belonging to the agency to personal use.
The offense contravenes section 15 (1) of the Money Laundering (Prohibition) (Amendment) Act 2012 and punishable under section 15(3) of the same Act. The EFCC had explained that it rearrested Akpobolokemi after he was granted bail by a competent court, because of a fresh N34bn fraud allegations against him.
