Ex Deputy Speaker, Chief Chibudom Nwuche Arrested by EFCC Over N5.6Bn Fraud

A former Deputy Speaker of the House of Representatives, Chief Chibudom Nwuche, has been arrested by the Economic and Financial Crimes Commission, for an alleged N5.6bn contract scam. Nwuche, who served at the lower legislative chamber between 1999 and 2003, was detained after responding to an EFCC invitation on Monday.

The suspect, who also served as the Deputy National Chairman of the Peoples Democratic Party under the leadership of Alhaji Bamanga Tukur, allegedly got three contracts from the Kingsley Kuku-led Presidential Amnesty Office.
Detectives at the EFCC, however, said that Nwuche, who had since defected to the All Progressives Congress, allegedly helped Kuku to launder N2.8bn under the guise of sending ex-militants for training in 2012.  A source at the commission said, “Nwuche is being investigated over an alleged N5.6bn contract which his company, Foundation For Youth Development, allegedly received from the Kingsley Kuku-led Presidential Amnesty Office. “He allegedly got three contracts from the Amnesty Office in 2012 for the training of ex-agitators in Malaysia. Up till now, nothing was done about the contract yet, he collected N2.8bn,” an investigator said.
According to the detective, the money was allegedly laundered through some companies, individuals and bureau de change operators back to Kuku, through a front who is also being investigated by the EFCC. As of 8pm on Monday, Nwuche was still being quizzed by detectives.

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Posted: at 26-07-2016 10:03 AM (8 years ago) | Addicted Hero

my question is that, why is this people stealing billions ,what happen to millions, after this they will give him bail of 50million , tell me how will this rubbish stop in naija

Posted: at 26-07-2016 10:42 AM (8 years ago) | Gistmaniac

SOMEBODY WILL STILL BLAME BUHARI FOR THIS....Y'ALL BETTER BE CAREFULLLLLLLLLLLLLLLLLLL

Posted: at 26-07-2016 11:42 AM (8 years ago) | Hero

People get mind sha

Posted: at 26-07-2016 12:52 PM (8 years ago) | Gistmaniac

Million is outdated, it's billion that is in vogue now. Then they will graduate to trillion.

Posted: at 26-07-2016 04:56 PM (8 years ago) | Newbie

Anoda one bites d dust...

Posted: at 26-07-2016 10:52 PM (8 years ago) | Hero

@slimcherry.Era of millions stolen by our politicians has Gone.Latest stealing now is Billions.personally, I Love the word Billionaire. The real Question here is who is telling the truth; on daily weekly monthly basis we read on print and online news about arrest&And stolen fund that can build a Nation from grand Zero to TOURIST NATION.yet nothing was has been done in term of CHANGE. ARE we just exposing then and leave then go free or are we getting the funds back and use the stolen fund for the benefit of Nigeria OR still kpin them for re-stolen by the regime.

Posted: at 27-07-2016 01:37 AM (8 years ago) | Newbie

HMMMMM, I'M TIRED OF DIZ KIND NEWS.K, SINCE EFCC DY ARREST, OLISA PROMISED TO RETURN HIZ OWN STOLEN MONEY...BT I'VE NT HEARD ANYTYN ABT D MONEY, ABI NA BUGARI ACCOUNT D MONEY DY GOOOO?

Posted: at 27-07-2016 09:00 PM (8 years ago) | Gistmaniac