The Economic and Financial Crimes Commission (EFCC) has apprehended Abubakar Isa Funtua, son of the late Isa Funtua, in connection with fraudulent activities linked to his company, Bulet International Limited.
Funtua stands accused of siphoning over N28 billion from the company’s accounts for personal benefit, with allegations of laundering the misappropriated funds through various bank accounts and assets.
In his capacity as a director at Bulet International Limited, Funtua is charged with violating the trust placed in him by the company’s shareholders and stakeholders, allegedly embezzling company funds for personal gain.
The EFCC executed the arrest at Funtua’s residence in Abuja last Friday, indicating that he may remain in custody over the Sallah holiday period. The anti-corruption agency is conducting a thorough investigation into the accusations and intends to prosecute Funtua if the evidence substantiates the claims.
The apprehension and detention of Funtua are part of the EFCC’s ongoing efforts to combat corruption and financial malpractice within the country. The agency remains committed to holding accountable all individuals involved in illicit activities, irrespective of their social standing or influence.
As the inquiry progresses, additional details are anticipated to shed light on the alleged misconduct involving Funtua and his company. This development underscores the principle that no one is exempt from legal repercussions, emphasizing that individuals engaging in fraudulent behavior will face the full weight of the law.
The allegations also include the fraudulent acquisition of billions of naira in contracts from the Central Bank of Nigeria for the APEX Bank’s car park project, which purportedly was never executed.
