Anti-corruption and elections / EFCC

EFCC Arraigns Cashflow, “Illegal” Bank Operator for Fraud

The Economic and Financial Crimes Commission, EFCC, on June 13, 2018 arraigned a director of Cashflow ABI Network Limited, Philemon Ibrahim Gora, before Justice Ijeoma Ojukwu of the Federal High Court, Maitama, on a two-count charge for illegally operating a financial institution. Gora is accused to have between 2012 and 2017 used the company to defraud unsuspecting customers. He was arraigned along with the company, and they are accused of violating Section 2 (1) of the Banks and Other Financial Institutions Act, and Section 49 (1) of the same Act. Count two of the charges reads: “That you Dr…