{"id":78804,"date":"2021-02-25T15:27:16","date_gmt":"2021-02-25T14:27:16","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=78804"},"modified":"2021-02-25T15:27:16","modified_gmt":"2021-02-25T14:27:16","slug":"efcc-arraigns-insurance-broker-for-diversion-of-n26bn-phcn-severance-benefit","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/other-news\/efcc-arraigns-insurance-broker-for-diversion-of-n26bn-phcn-severance-benefit\/","title":{"rendered":"EFCC Arraigns Insurance Broker for Diversion of N26bn PHCN Severance Benefit"},"content":{"rendered":"
\n
The Economic and Financial Crimes Commission, EFCC, on Thursday, 25
\nFebruary, 2021 arraigned Abiodun Waheed Hassan and his Company Bestworth
\nInsurance Brokers Limited before Justice S.C Oriji of the Federal
\nCapital Territory High Court, Apo, Abuja on a five count charge of
\nalleged criminal breach of trust and misappropriation of funds to the
\ntune of over Twenty Six Billion Naira (N26billion).<\/p>\n

The defendant allegedly diverted humongous sums of money earmarked for
\nthe payment of outstanding insurance premiums and claims of deceased and
\nincapacitated staff of Power Holding Company of Nigeria (PHCN), into the
\ncorporate account of entities.<\/p>\n

Count one of the charge reads:<\/p>\n

“That you, Abiodun Waheed Hassan, Director, Bestworth Insurance Brokers
\nLimited and Bestworth Insurance Brokers Limited on or about 15th January
\n2015, in Abuja within the jurisdiction of the High Court of the Federal
\nCapital Territory, while being entrusted with certain property to wit:
\nthe sum of N26,236,594,986.00 (Twenty-six Billion, Two Hundred and
\nThirty-six Million, Five Hundred and Ninety-four Thousand, Nine Hundred
\nand Eighty-six Naira only) paid into Bestworth Insurance Brokers
\nLimited’s Skye Bank Account No. 1771645118 from PHCN STAFF SEVERANCE
\nBenefits account with the Central Bank of Nigeria, being funds earmarked
\nfor the payment of outstanding insurance premiums and claims of deceased
\nand incapacitated staff of Power Holding Company of Nigeria (PHCN), did
\ncommit criminal breach of trust in respect of the said property by
\ndishonestly misappropriating the sum of N2,500,000,000.00( Two Billion
\nFive Hundred Million Naira only) thereof when you transferred the said
\nsum into Kakatar CE Limited’s Zenith Bank Account No.1012637660 and you
\nthereby committed an offence punishable under Section 315 of the Panel
\nCode Cap 532 Laws of the Federation of Nigeria, (Abuja) 2004.”<\/p>\n

Count Five states, “that you , Abiodun Waheed Hassan, Director,
\nBestworth Insurance Brokers Limited and Bestworth Insurance Brokers
\nLimited on or about 18th December 2014, in Abuja within the jurisdiction
\nof the High Court of the Federal Capital Territory, while being
\nentrusted with certain property to wit: the sum of N26,236,594,986.00
\n(Twenty-six Billion, Two Hundred and Thirty-six Million, Five Hundred
\nand Ninety-four Thousand, Nine Hundred and Eighty-six Naira only) paid
\ninto Bestworth Insurance Brokers Limited’s Skye Bank Account No.
\n1771645118 from PHCN STAFF SEVERANCE Benefits account with the Central
\nBank of Nigeria, being funds earmarked for the payment of outstanding
\ninsurance premiums and claims of deceased and incapacitated staff of
\nPower Holding Company of Nigeria (PHCN), did commit criminal breach of
\ntrust in respect of the said property by dishonestly misappropriating
\nthe sum of N6,000,000,000.00( Six Billion\u00a0 Naira only) thereof when you
\ntransferred the said sum into PJO Venture Limited’s Skye Bank Account
\nNo.1771645235 and you thereby committed an offence punishable under
\nSection 315 of the Panel Code Cap 532 Laws of the Federation of Nigeria,
\n(Abuja) 2004.”<\/p>\n

The defendant pleaded ‘not guilty’, when the charges were read to him.
\nBased on his plea, prosecution counsel, Benjamin Lawan Menji, ask for a
\ntrial date and prayed the Court to remand the defendant at the
\nCorrectional Service pending the trail.<\/p>\n

Counsel for the defendant, Ade Olusalako told the court that the defense
\nhad filed a motion for bail of his client and pleaded for the remand of
\nthe defendant in the custody of the EFCC pending the determination of
\nhis bail application on the grounds that “the defendant has been on
\nadministrative bail for almost five years and he has an underlining
\nsickness”.<\/p>\n

However, the prosecution counsel objected to the application. “As he
\nrightly submitted, we received the application but we shall vehemently
\nbe opposing the application; we said vehemently so that the court will
\nknow that we have a strong opposition.\u00a0 Moreover, our facility is
\noverstretched because of the issue of the Covid-19 Pandemic, the little
\nwe have we are trying to manage them. The proper place of detention or
\ncustody is the Correctional Service which the government has done its
\nbest in providing”, Menji told the court.<\/p>\n

However, Justice Oriji adjourned the matter till March 4, 2021 for
\nhearing on the bail application and remanded defendant in EFCC custody.<\/p><\/div>\n

<\/div>\n
<\/div>\n
<\/div>\n<\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"

The Economic and Financial Crimes Commission, EFCC, on Thursday, 25 February, 2021 arraigned Abiodun Waheed Hassan and his Company Bestworth Insurance Brokers Limited before Justice S.C Oriji of the Federal…<\/p>\n","protected":false},"author":1,"featured_media":78805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-78804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other-news"],"yoast_head":"\nEFCC Arraigns Insurance Broker for Diversion of N26bn PHCN Severance Benefit - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/other-news\/efcc-arraigns-insurance-broker-for-diversion-of-n26bn-phcn-severance-benefit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFCC Arraigns Insurance Broker for Diversion of N26bn PHCN Severance Benefit - 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