EFCC arraigns former senator Tafida over misappropriation of N419million

The Sokoto zonal office of the Economic and Financial Crimes Commission (EFCC), has arraigned a former senator, Umaru Tafida Argungu, before Justice Mohammed Mohammed of the state high court on one count charge of criminal misappropriation of public funds.

Legit.ng reports that the EFCC in a statement posted on its Facebook page on Monday, March 1, said that the ex-senator misappropriated the sum of N419, 744, 612.

The anti-graft agency said that Argungu, who represented Kebbi North in the sixth Senate was alleged to have diverted the said sum which was paid by the Sokoto state government as a 40% equity stake in Hijrah Investment Nigeria Limited, owners of Hijrah Textile Ltd.

It was gathered that the state government had entered into an agreement with the former senator to buy a 40% stake in his company Hijrah Investment Nigeria Limited in order to create jobs and boost the economy of the state.

The EFCC said that the investigations, however, revealed several withdrawals and transfers from the said account to individuals not remotely connected to the objectives of turning around the company.

It also stated that a visit to the company premises by investigators showed a company in a severe state of abandonment and dilapidation.

Argungu, however, pleaded not guilty, adding that based on his plea, the prosecution counsel, S.H. Sa’ad asked the court for a date to commence trial.

The case has been adjourned till March 18, for the commencement of trial.

Justice Mohammed granted the defendant bail in the sum of N50 million and two sureties in like sum.