Gen. Buhari’s son arrested for N20M fraud

Mohanned Buhari, son of former Head of State, General Mohammadu Buhari has been arrested by the Economic and Financial Crimes Commission (EFCC) over a N20 million Naira scam, According to Sahara Reporters .

A source revealed that the suspect who is  said to be an adopted son of the former military president is being held over alleged transactions that has “trappings of voodoo investment scheme”.

Buhari allegedly collected the sum of twenty million Naira from one Mrs Florence Nwokocha, whom he met through his account officer at Ecobank Plc, with the intention to invest it in an oil and gas business promising to return large profits. Buhari agreed to pay his investor, Nwokocha 30 percent annual interest on the sum.

With this agreement, the investor transferred the complete sum to Buhari who cleaned out the account but never made any interest payment to Nwokocha.

According to Sahara reporters:

“sources at the EFCC informs that the suspect claims he ran into trouble after he lost the bank guarantee which he secured from another new generation bank. The bank, he claims, voided the guarantee on the ground that the branch of the bank that processed it was not competent to do so.”

The EFCC is still holding Buhari in custody while investigations are ongoing.

-punch