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. x
However, investigation revealed several withdrawals and transfers from the said account to individuals not connected with the objectives of the company.
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The suspect represented Kebbi North in the 6th Senate.
He was charged with one count charge of criminal misappropriation of public funds to the tune of N419, 744,612.
Argungu allegedly diverted funds paid by the Sokoto State Government between 2016 and 2017.
Sokoto entered into an agreement with the defendant to buy a 40 percent stake in his company Hijrah Investment Nigeria Limited for job creation.
EFCC investigations revealed several withdrawals and transfers from the said account to individuals not remotely connected to the objectives of turning around the company.
The company was in a state of abandonment and dilapidation when operatives visited.
Argungu’s offence was contrary to Section 311 of the Penal Code Law CAP 89, Laws of Northern Nigeria and punishable under Section 312.
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