Alleged N40b fraud: EFCC seizes Agagu’s passport

The Economic and Financial Crimes Commission last Friday seized the travelling passport of Chief Femi Agagu, who was a former Chief of Staff to ex-Governor Olusegun Agagu of Ondo State.

Agagu’s passport was confiscated by the Commission following investigation into his involvement in alleged N40billion fraud while in office.

According to findings, the EFCC had watch-listed Femi Agagu, who is a jounger brother to the ex-governor, for many months to no avail.

It was, however, gathered that luck ran against the suspect when he was apprehended at the Murtala Muhammed International Airport in Lagos upon  return to Nigeria last Wednesday.

After preliminary interaction in Lagos, Agagu was flown to the EFCC’s headquarters in Abuja on Thursday where he was detained for comprehensive grilling by a team.

A top source, who spoke in confidence, said: “the ex-Chief of Staff was quizzed over alleged mismanagement of over N40billion in respect of water projects, stadium and road construction.

“We got petitions that some of the projects were not executed, haphazardly carried out and at inflated cost. We are suspecting that the projects were used to launder money abroad.

“Our investigation has shown that as the Chief of Staff, his desk was central to most projects awarded by the administration of ex-Governor Olusegun Agagu.

“That is why we have invited him but he refused to appear before the commission. The commission had no choice than to watch-list him which led to his arrest after coming back from a trip abroad.

“So far, the suspect has made statement to the commission and after detaining him for about 48 hours, we granted him administrative bail.

“It is too early to talk on our findings but the media will be briefed on the status of investigation into the allegations against him.”

Responding to a question, the source added: “We have seized the passport of the suspect to restrict his movement to Nigeria. Once there is no prima facie case against him to warrant his prosecution, we will release his passport accordingly.”

The Head of Media and Publicity of the EFCC, Mr Femi Babafemi, confirmed the arrest and interrogation of Agagu.

He also added: “After Agagu’s interrogation, it became necessary to have his travelling passport in our custody. But he was released on Friday night. So, he is presently on administrative bail.”

This is the second time that the EFCC would launch a probe into the administration of ex-Governor Olusegun Agagu.

On April 3, 2009, the ex-governor was arrested and quizzed by the EFCC over alleged mismanagement of N25billion vote for Ondo State Oil Producing Areas Development Commission (OSOPADEC).