By Onyewuchi Ojinnaka
A Director of Bestworth Insurance Brokers Limited, Mr Abiodun Hassan, has been charged to Court by the Economic and Financial Crimes Commission (EFCC) over alleged misappropriation of funds to the tune of N10.2 billion.
Hassan was docked on Thursday alongside his company, Bestworth Insurance Brokers Limited, before Justice Sylvanus Oriji of the Federal Capital Territory High Court, Apo, Abuja over alleged misappropriation of the aforementioned funds.
They were arraigned on a five-count charge bordering on criminal breach of trust and cheating.
While Hassan is the first defendant in the suit marked: FCT/HC/CR/021/2021, the company, Bestworth Insurance Brokers Limited is the second defendant.
In the charge, the prosecution alleged that the sum of N26.2billion was entrusted to the defendants by Central Bank of Nigeria, (CBN), being insurance claim for the deceased and incapacitated staff of defunct Power Holding Company of Nigeria (PHCN).
The prosecution further alleged in the charge that at various times, the sum of N2.5 billion, N1 billion, N118 million, N30 million and N6.6 billion were misappropriated from the N26.2 billion by the defendants.
After hearing all the counts preferred against them, Hassan pleaded not guilty.
In view of Hassan’s plea, the EFCC counsel, Benjamin Manji, prayed the court to remand him in custody pending the determination of the matter.
Meanwhile, Hassan’s counsel, Adeolu Salako informed the judge that he had a motion for bail for his client before the court.
Defence counsel also urged the court to allow 1st defendant be kept at the EFCC custody, while praying the court to grant his application for bail.
Justice Oriji thereafter adjourned the case till March 4, 2021 for hearing of the motion for bail.