Gov Ayade ’s brother arrested over alleged N2.4b fraud

The Economic and Financial Crimes Commission [EFCC] has arrested a brother to Cross Rivers State Governor Ben Ayade, Francis Ayade.

Mr. Francis Ayade was arrested on Tuesday over alleged N2.4 billion contract scam.

It could be recalled that Ben Ayade handed over the reins of government to his brother, Francis, when the former proceeded on leave abroad.

Mr. Francis Ayade is the managing director of Leophina Nigeria Limited and Hally Brown International Limited.

The two companies were allegedly used as avenues for diverting public funds accruing from contracts.

Investigations by EFCC operatives showed that Hally Brown International Limited was awarded a road construction contract to the tune of N2.4 billion in 2011.

To finance the contract, Mr. Ayade allegedly took a loan of N350,000,000 from First Bank Plc, on behalf of Cross Rivers Rural Access and Mobility Project.

The loan, was however transferred into the Mobility Project instead of the purpose for which it was granted.

Mr. Ayade has also been implicated in alleged suspicious transactions involving Obudu Micro Finance Bank, among other allegations.

He has been offered administrative bail but still in the custody of the EFCC until he fulfills the bail conditions.

Presently, it is yet certain if Governor Ayade himself is involved in the alleged scam. 

Officials of the EFCC, however, said investigations are ongoing.

In another development, a Chinese firm is set to establish eight million dollars corn mill in Cross River 

The move by the investor is expected to boost Governor Ben Ayade efforts to diversify the economy of the state.

The Chairman of Wuhan Longfecund Agriculture Development Company Ltd, Wuhan in China, Yongsheng Cao, disclosed this when he paid a courtesy visit to Governor Ben Ayade at the government house in Calabar.

Speaking through an interpreter, Cao said he is optimistic that, setting up the feed mill and maize farm in Cross River State will thrive as the state and China share same topography.

Giving a nod to the immediate start of the farm, Governor Ben Ayade said, Cross River State is expanding their horizon in Agriculture and taking a leap into agricultural phase to ensure a leading direction.

The governor affirmed that, parts of Akamkpa, Uyanga, Obubra and Yala were suitable areas for maize farming based on soil studies earlier conducted.

Ayade reasoned that the partnership between Cross River State government and the maize centre in China will provide the state with a first class knowledge, first class technology, first class farming and first class mill as all sweet corns used in our salads were imported.

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