EFCC arrests Cross River Governor's brother for fraud

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Cross River State Governor, whose name is Ben Ayade, was embarrassed with his brother's arrest by the Nigerian Financial and Economic Crimes Commission.
Dr Frank Ayade, a younger brother of the Cross River state Governor, Prof.
General fraud definition - it is receiving by authorities obviously illegal material compensation for their official conduct or some payment in connection with their position.
His Hally Brown Company was in particular given N2.4bn road construction in 2011.
In order for the firm to execute the contract, Ayade was said to have allegedly taken a loan of N350m from First Bank Plc. on behalf of Cross River Rural Access and Mobility Project.
However, investigations by the anti-graft agency revealed that the loan was unused for the contract but transferred into the Mobility Project.
Apart from that, the suspect is also said to have been fingered in alleged suspicious transaction involving Obudu Micro Finance Bank, among other allegations.
Ayade, who disclosed this on Thursday during a quarterly interaction with journalists in Calabar, said it was insensitive for any state government to ban hawking without providing an alternative. Frank was granted administrative bail.
The petition, titled, 'The Fraud Called Calabar Garment Factory, " which was sent to the EFCC on May 12, 2016, accused the state government of spending N2.7bn on the factory through Frank Ayade, who had no defined public role in the administration of Governor Ayade.
Being an ex-hawker, Cross River State Governor, Ben Ayade has forwarded a Hawkers' Right Bill to the House of Assembly that will protect the rights of street hawkers in the state.
While dismissing the insinuations that the factory was privately owned, Ayade stated that there were verifiable documents to prove that there was no fraud involved.