A cousin to the former Akwa Ibom Governor, Godswill Akpabio, Ibanga Ime Akpabio has been arrested by the operatives of the Economic and Financial Crimes Commission for his involvement in a N10 million oil scam.
He was arrested in Port Harcourt, Rivers State, said the EFCC in a statement.
Akpabio’s arrest was occasioned by an allegation that he collected a sum of N10 million from a potential investor in petroleum products.
Specifically, Akpabio reportedly approached the investor to invest the money as equity in the purchase of petroleum product directly from a floating station belonging to the Nigerian National Petroleum Corporation (NNPC).
The EFCC said he allegedly assured the investor that he had secured all necessary approvals for the running of the business.
According to the EFCC, Akpabio allegedly collected the money through a Diamond Account being operated by Fastej Enterprises and that he neither kept faith with the business arrangements with the investor nor returned his money to him.
He is urgently undergoing interrogation in the Port Harcourt Zonal office of the EFCC.