The Federal anti-graft agency, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on Wednesday explained its arrest of Mr. Oladipo Daniel Oyebanjo, otherwise known as D’Banj in connection with the fraud in disbursement of funds to beneficiaries of the N-Power scheme.
The N-Power is a scheme established by President Muhammadu Buhari on 8th June, 2016, to address the issues of youth unemployment and empowerment, and help increase social development.
D’Banj was placed under arrest by ICPC and detained overnight over the massive fraud in the N-Power scheme.
According to a statement by ICPC: “In line with its mandate, the Commission had received numerous petitions on the diversion of N-Power funds running into billions of naira following the approval and release of such funds to the beneficiaries by the Federal Government. Many N-Power beneficiaries had complained over the non-receipt of the monthly funds in spite of payment by the Government.
“About 10 persons have been invited by the ICPC over the last few months in connection with the N-Power fraud, and have been granted administrative bail after their detention. Several invitations to Mr. Oladipo Daniel Oyebanjo, to appear before a team of investigators were ignored and not honoured.
“Mr. Oyebanjo turned in himself and was taken into custody at the ICPC Headquarters on Tuesday, 6th December, 2022, and is currently assisting the investigators to unravel the circumstances of the fraud allegations by the petitioners.
“The investigation will be all-encompassing and also be extended to other collaborators of the fraud and the banks where the beneficiaries’ accounts are domiciled.”