The Economic and Financial Crimes Commission (EFCC), Sokoto Zonal Office, has arraigned Senator Umaru Argungu before Justice Mohammed Mohammed of the Sokoto State High Court for allegedly misappropriating N419,744,612.30 public fund.
Argungu, who represented Kebbi North in the 6th Senate, allegedly diverted the said sum paid by the Sokoto government as 40 per cent equity stake in Hijrah Investment Nigeria Limited, owners of Hijrah Textile Limited.
Sokoto had entered into an agreement with him to buy 40 per cent stake in his company, Hijrah Investment Nigeria Limited, to create jobs and boost the state’s economy.
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However, investigation revealed several withdrawals and transfers from the said account to individuals not connected with the objectives of the company.