EFCC arrests Indian man Chandra Singh for N816m fraud in Lagos

Chandra Singh, an Indian, was charged by the Economic and Financial Crimes Commission, or EFCC, on Thursday with allegedly defrauding a Nigerian bank out of N816 million.

Singh is accused of bribery and the retention of stolen property on 19 counts.

He, however, entered a not-guilty plea to the accusation.

Following his plea of not guilty, the EFCC attorney, Mrs. Bilikisu Buhari, asked the court to remand the defendant to the detention facility.

“We are also ready to open trial and have witnesses in court,” she said.

The prosecution claimed that the defendant solicited indirectly to grant an unfair advantage to his company, CVN Engineering Ltd, on or before January 1, 2021, while working for African Natural Resources and Mines Ltd. He allegedly did this in order to persuade his employee to award CVN Engineering Ltd. the supply contract, which was worth N365 million.

The anti-graft organization further claimed that the defendant engaged in indirect solicitation to give his company, Neo Paints Nigeria Ltd, an unfair advantage so that he could persuade one of his employees to grant Neo Paints Nigeria Ltd a contract worth N451 million.

Additionally, the prosecution claimed that the defendant deceitfully kept $4,150 that belonged to African Natural Resources and Mines Ltd.

The defendant's defence attorney, Mr. Hassan Olanrewaju, notified the court of his plea for bail and asked for a brief adjournment so he could get ready for the trial.

“I was only served with the amended information and proof of evidence this morning in court, and it will only be fair to be given time to prepare, ” Olarewaju said.

Sections 328 and 411 of the Lagos State Criminal Law from 2011 as well as Section 83 were allegedly violated by the accused offences.

Justice Ismail Ijelu ordered the defendant to remain in the Ikoyi Correctional Center and set the hearing on the defendant's request for bail and the start of the trial for November 30.