EFCC Prosecutes Former Benue Electoral Chairman and Ten Others for N1.1bn Financial Fraud

The Economic and Financial Crimes Commission (EFCC) has charged former Benue State Independent Electoral Commission (BSEIC) Chairman Dr. Tersoo Joseph Loko and ten other individuals with alleged involvement in a N1.1 billion fraud and money laundering scheme.

On Wednesday, these individuals including Kuleve Kelvin Terlumun, Serki Mtomga Manasseh, Ugbede Denen Ronald, Tatyough Thaddeus, Angwa Dominic Terhember, Uwua Benjamin Igbawua, Adese Asom, Orkuma Emmanuel Nyiusta, Owoicho Odeh, and Mhir Iyenge were presented before Justice M.S. Abubakar of the Federal High Court in Makurdi.

The charges include 30 counts surrounding the embezzlement of public funds and money laundering totaling N1.1 billion.

Dr. Loko was apprehended by the EFCC’s Makurdi office following a petition that led to investigations into the defendants' activities.

The complaint alleged that Dr. Loko misappropriated and used funds designated for the 2020 and 2022 local government elections. It claimed that the total funds released for these elections amounted to N985,403,001.74 and N680,000.00 respectively.

Further accusations indicated that Dr. Loko used only N565,039,506 for both elections, leaving a discrepancy of N1,100,363,594.

As per Count one of the charges, Dr. Loko is accused of receiving a cash payment of N118,166,000 while serving as Chairman of BSEIC in 2022, which he allegedly diverted for personal use, fully aware that it constituted proceeds from criminal activity.

During the proceedings, all defendants pleaded not guilty to the charges presented. In response to the not guilty plea, the EFCC's counsel, M.S. Yusuf, requested a date for trial to allow the prosecution to substantiate their accusations.

The judge subsequently granted bail to the defendants, setting it at N50 million each, requiring one surety with equivalent bail conditions. The surety must hold a valid international passport, and each defendant is mandated to submit their passport to the court registrar until bail is confirmed.

Lastly, the court has directed that the defendants be remanded until their bail arrangements are finalized.