EFCC office
May 4, 2023
The Abuja Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Tuesday, May 2, 2023 arraigned one Enonche Ugbabe and his company, Lifeline Engineering Nigeria Limited, before Justice Z.B Abubakar of the Federal High Court, Maitama Abuja on a one count charge bordering criminal misappropriation and money laundering.
The defendant is alleged to have diverted a N1.2billion credit facility obtained from NEXIM Bank, meant for the establishment of a cluster of factories in the Agricultural sector, for personal use.
He pleaded not guilty to the charge.
Justice Abubakar granted bail to the defendant in the sum of N 100 Million and two sureties in like sums who are to depose to an affidavit of means and own landed property in Abuja. One of the sureties must be a civil servant of not less than GL16.
The defendant is to deposit his international passport with the Deputy Court Registrar. He is to remain in the custody of the EFCC until the bail terms are fulfilled.
The case was adjourned till June 19, 2023 for the commencement of trial.
