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Breaking: EFCC re-arrests ex-Head of Service, Steve Oronsaye

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The Economic and Financial Crimes Commission [EFCC], this evening, took into custody a former Head of the Civil Service of the Federation, Steve Oronsaye.

Mr. Oronsaye was rearrested over fresh allegations of corruption and obtaining money by false pretence.

Mr. Oronsaye is already being prosecuted by the EFCC on 24-count charge of money laundering  before a Federal High Court, Abuja, for abuse of his position as Chairman of the Presidential Committee on Financial Action Task Force.

Investigations revealed that he obtained a sum of N240million from the Central Bank of Nigeria in the guise of assistance to the Committee without the knowledge of other committee members and proceeded to convert the said sum to his personal use.

As at the time of filling this report, Mr. Oronsaye is still being interrogated by the anti-graft agency’s investigating team.

A two-count charge filed at the Abuja High Court reads:

 “Stephen Oronsaye a.k.a. Mr Steve Oronsaye on or about 12th June, 2013 at Abuja within the jurisdiction of the High Court of the  Federal Capital Territory whilst being the Chairman of the Presidential Committee on Financial Action Task Force and in such capacity entrusted with certain property to wit: the sum of N90,000,000.00 ( Ninety Million Naira) committed Breach of Trust in respect of the said sum by converting it to your personal use through the investment of the said sum of N90,000,000.00 in Access Bank Plc’s Bankers Acceptance for a tenor of 90 days at 9.0% interest rate in violation of the extant financial regulations

“Stephen Oronsaye a.k.a. Mr Steve Oronsaye on or about 30th December, 2014 at Abuja within the jurisdiction of the High Court of the  Federal Capital Territory whilst being the Chairman of the Presidential Committee on Financial Action Task Force and in such capacity entrusted with certain property to wit: the sum of N100,000,000.00 ( One Hundred Million Naira) committed Breach of Trust in respect of the said sum by converting it to your personal use through the investment of the said sum of N90,000,000.00 in Access Bank Plc’s Bankers  Acceptance for a tenor of 90 days at 12.0% interest rate each  in violation of the extant financial regulations”.

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