The Economic and Financial Crimes Commission (EFCC), on Monday, arraigned a former Minister of State for Power, Muhammed Wakil, on two counts of corruption at the the High Court of the Federal Capital Territory, Apo, Abuja.
The prosecution alleged that the defendant, in 2014, corruptly received the sum of N148million from the funds approved for the payment of outstanding insurance premiums and claims of deceased and incapacitated staff members of Power Holding Company of Nigeria( PHCN).
He was said to have received the money from Bestworth Insurance Brokers Limited through the Polaris Bank account of his firm, Corozzeria Nigeria Limited.
He pleaded not guilty when the charges when read to him on Monday.
The judge, S.B. Belgore, ordered the remand of the defendant in EFCC custody and adjourned till March 31for the determination of his bail application.
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EFCC Press Release
EFCC Arraigns Ex –Power Minister for N148m PHCH Severance Benefit Bribe
The Economic and financial Crimes Commission, EFCC, on Monday, March 8, 2021 arraigned a former minister of state for power, Muhammed Wakil, before Justice S.B.Belgore of the Federal Capital Territory High Court, Apo, Abuja on a two counts charge of corruption and abuse of office.
Wakil was arraigned alongside two companies, Corozzeria Nigeria Limited and Pikat Properties Nigeria Limited, for allegedly receiving N148,000,000.00 (One Hundred and forty Eight Million Naira Only), as gratification from Bestworth Insurance Brokers Limited out of the N27,188,232,208.00(Twenty Seven Billion, One hundred and Eighty Eight million, two hundred and thirty two thousand ,Two hundred and Eight Naira, Twenty Kobo) approved outstanding insurance premiums and claims of deceased and incapacitated staff of Power Holding Company of Nigeria, PHCN.