EFCC seals off First Group’s of­fice over $200bn scam

Daily Trust - - NEWS - By Ron­ald Mu­tum

The Eco­nomic and Fi­nan­cial Crimes Com­mis­sion (EFCC) yes­ter­day sealed off the of­fice of the First Group com­pany, a real es­tate firm lo­cated on the 7th floor of the Bank of In­dus­try build­ing in the Cen­tral Busi­ness District, Abuja.

Daily Trust gath­ered yes­ter­day that the com­pany was im­pli­cated in a phony real es­tate deal in which in­no­cent Nige­ri­ans were duped to the tune of $200 bil­lion.

The source said: “Op­er­a­tives of the EFCC had in May 2016 raided the of­fice as part of in­ves­ti­ga­tions into the al­leged prop­erty fraud. Sev­eral im­pli­cat­ing doc­u­ments were dis­cov­ered, in­clud­ing a list of high pro­file pa­trons.”

It was fur­ther learnt that in­ves­ti­ga­tions into the scam re­vealed that the com­pany, orig­i­nally known as TFG Real Es­tate Lim­ited, op­er­ates in Nige­ria in the guise of First Group Com­pany, a Dubai-based real es­tate firm which is not reg­is­tered in Nige­ria.

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