Nigeria's Globacom boss Adenuga arrested
July 12, 2006, 7 days, 16 hours and 22 minutes ago.
By ANDnetwork .com
Renowned Nigerian businessman, Mike Adenuga, has been arrested by operatives of the Economic and Financial Crimes Commission of Nigeria.
He was said to have been taken away from his Victoria Island, Lagos home on Sunday and flown to Abuja where he was still being held for yet unspecified reasons.
Adenuga’s business interests span telecommunications, oil, banking and other sectors was said to have been seized at home by the operatives who came with heavy equipment to pull down the doors in case of any resistance.
A senior Economic and Financial Crimes Commission (EFCC) source who confirmed the arrest, however, declined to give reasons for the arrest or other details.
Though details were sketchy at press time, The Guardian learnt from presidency sources that the detention of the business magnate might not be unconnected with a recent financial intelligence report on how a tranche of funds from the Petroleum Technology Development Fund (PTDF) was allegedly used to fund some projects linked to Adenuga.
A presidency source on Monday said, "The anti-graft body is just trying to find out whether Chief Adenuga's telecom firm benefited from alleged abuse of PTDF through a bank."
The PTDF deals, according to a source, may also have involved "very big men in government as well as some banks".
There were also speculations that Adenuga's arrest may have had political motives while another theory is that there is nothing to the businessman's questioning other than EFCC's routine investigation of big businesses.
Industry watchers were however worried last night about the implications of the continued detention of the businessman who is a major investor in oil and gas and communication businesses.
Efforts to speak with EFCC chairperson, Malam Nuhu Ribadu and some of his men from Abuja failed.
The Guardian
