Nigeria: N1 Billion Fraud - NDIC Boss to Be Charged Today

Managing Director of the Nigerian Deposit Insurance Company (NDIC), Chief Ganiyu Ogunleye and five others are to be charged to court by the police in Abuja today for alleged conspiracy and fraud.

They are to be charged before an Abuja High Court for alleged conspiracy and fraudulent misappropriation of the recovered funds of the distressed Fortune Bank. Ogunleye's co-accused persons are the Executive Director, Operations of NDIC Prof. Peter Umoh, and two officials of the Central Bank of Nigeria [CBN] who are Interim Committee members for the distressed Fortune Bank, Dr. Joe Emerson and Innocent Ilozumba.

...

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.