EFCC have revealed that the businessman involved in the 17.7 billion naira fraud involving intercontinental bank is no other than 'Chairman of Tanzila Petroleum Company, Alhaji Shehu Badamasi.
The oil magnate is being charged with criminal conspiracy, fraud, and diversion of credit facility of about N17.7 billion.
The billionaire businessman was said to have taken the funds from Intercontinental Bank between 2006 and 2008.'
We are told properties worth 3.5 billion have been recovered.
If you remember 6 staff of bank PHB were charged to court for another bank fraud of 17 billion naira last week in abuja and 2 staff of access bank were charged to court in Lagos for frauds of almost 100 million naira