The EFCC, on Thursday, 21 October, 2021 arraigned the Managing Director of PJO Ventures Limited, Cecilia Osipitan and her company, PJO VENTURES LIMITED, and INSURANCE RESOURCERY and CONSULTANCY SERVICES LIMITED before justice U.P Kekemeke of the Federal Capital Territory High Court, Maitama, Abuja on a nine count charge bordering criminal breach of trust, conspiracy and conversion of public funds to the tune of N6, 000,000,000.00(Six billion Naira).
The money was meant for the payment of outstanding insurance premiums and claims of deceased and incapacitated staff of the defunct Power Holding Company of Nigeria, (PHCN).
The offence contravenes Section 311 of the Panel Code Act Cap 532 Laws of the Federation of Nigeria, (Abuja) 2004 and punishable under Section 312 of the same Act.
