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EFCC arrests Kwara Director, 6 MFB MDs over N2bn fraud

Economic and Financial Crimes Commission, EFCC, Ilorin Zonal Office, has arrested Mr. Segun Soewu, Director-General, Kwara State Bureau of Small and Medium Enterprise Development, over an alleged N2 billion fraud.

The commission said in a statement in Abuja, yesterday, that it also arrested six Managing Directors of various Microfinance Banks.

They were: Ogudu Samuel of Brightway Micro Finance; A.K. Imam of Magajingari of Micro Finance; Adeleke M.S. of Sincere Micro Finance Bank; Yusuf Muideen of Balogun Fulani Micro Finance Bank; Issa Abdulrasheed of KCMB Micro Finance Bank, and Oyebode Asimiyu of Apels Micro Finance bank.

The commission said it also investigated Lawal Ayo of Omu-Aran Micro Finance Bank; Tope Eniola of Iludun Micro Finance Bank; Lawal Folashade of Stockcarp Micro Finance Bank; Yusuf Tajudeen of First Heritage Micro Finance Bank, and Olawoye E.O. of Offa Micro Finance bank.

The anti-graft agency said it had earlier received intelligence reports alleging fraudulent misappropriation and mismanagement of about N2 billion given by the Kwara State Government to assist market men and women across the 16 Local Government Areas of the state.

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