EFCC Drags Cecilia Osipitan To Court Over PHCN Insurance Fraud

The Managing Director of PJO Ventures Limited, Cecilia Osipitan has been arraigned before Justice U.P. Kekemeke of the FCT High Court in Maitama, Abuja, by the Economic and Financial Crimes Commission, EFCC.

Naija News gathered that Osipitan who faces a nine-count charge bordering criminal breach of trust, conspiracy and conversion of public funds to the tune of N6billion was arraigned alongside with PJO and Insurance Resourcery and Consultancy Services Limited.

According to the anti-graft agency, the N6billion was meant for the payment of outstanding insurance premiums and claims of deceased and incapacitated staff of the defunct Power Holding Company of Nigeria (PHCN).

Osipitan who pleaded not guilty when the charges were read to her allegedly contravened  Section 311 of the Panel Code Act Cap 532 Laws of the Federation of Nigeria, (Abuja) 2004 and punishable under Section 312 of the same Act.

Justice Kekemeke granted her bail in the sum of N500million with two sureties in like sum.

The sureties must be federal civil servant, a religious leader or a member of the National Assembly residing and own landed properties in Abuja.

The judge also adjourned until January 20, 2022 for commencement of trial.