EFCC arraigns Benue Agric Company MD over alleged N59.8m diversion

The Economic and Financial Crimes Commission (EFCC) on Tuesday brought the Managing Director of the Benue State Agricultural Development Company (BS-ADC), Mr. Donald Akule, before a Federal High Court in Makurdi over the alleged misappropriation of N59.8 million.

The Makurdi Zonal Directorate of the EFCC informed the court that Akule is facing an eight-count charge bordering on criminal breach of trust, theft, and diversion of public funds.

According to the prosecution counsel, A.S. Idris, the defendant was arrested following a petition submitted to the commission accusing him of criminal breach of trust and stealing. Idris told the court that the petitioner alleged the funds in question belonged to BS-ADC and were meant for the supply of grains to the Benue State Government.

“Investigation revealed that the MD/CEO was not able to pay for the grains supplied by some contractors because he diverted a substantial part of the funds meant for the purchase for his personal use.

“The money diverted was part of the N486 million sent to the company by the Benue Investment and Property Company (BIPC) for the purpose of fish cultivation, grain purchase and warehouse renovation.

“Further investigation revealed that the monies received by BS-ADC from BIPC for the purchase of grains, part of which he diverted directly to his private account,” they said.

The prosecution further alleged that sometime in 2024, Akule engaged Udeco Engineering Company, owned by his associate, Henry Ude, and awarded it contracts for perimeter fencing, gatehouse construction, warehouse renovation, as well as the supply and installation of CCTV facilities valued at N195.8 million, without following due process.

Idris added that the defendant allegedly converted N31.9 million from the said contract sum for personal use, an act said to be contrary to Section 19 of the Corrupt Practices and Other Related Offences Act, 2000, and punishable under the same law.

He also told the court that on December 20, 2025, the accused allegedly obtained ₦14 million from BIPC under false pretence, claiming it was meant for stocking fish and constructing a fish pond.

Idris stated that the act constituted an offence under Section 1(1)(b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and is punishable under Section 1(3) of the same Act. He subsequently urged the court to fix an early date for speedy trial.

Akule, however, pleaded not guilty to all the charges and filed an application for bail, which was opposed by the prosecution.

In his ruling, the trial judge, Justice Raphael Egbe, ordered that the defendant be remanded at the Makurdi Correctional Centre and adjourned the matter to January 29 for hearing of the bail application.