EFCC withdraws criminal charges against Chidi Duru

Justice Atinuke Ipaye of the Lagos State High Court, Ikeja, has struck out the criminal charges by Economic and Financial Crime Commission, EFCC, against Eze Chidi Duru, Founder and Promoter of First Guarantee Pension Limited, FGPL. Justice Ipaye, on November 11, struck out the case following an application by EFCC to withdraw the criminal charges against the defendant, Duru. Ipaye said: “Pursuant to the application to withdraw criminal charges, it is hereby ordered as follows: that the criminal charges in suit ID/2039c/2015 as disclosed in the information dated December 5, 2015, is hereby struck out without prejudice.” The complainant had said the withdrawal was done in the interest of justice. EFCC had invited Duru, Founder of FGPL, one of the Pension Fund Administrators, and a former member of the House of Representatives; one Chief O. O. Ojo, and a South African, Mr. Derrick Roper, representing Novare Holding Limited, for alleged diversion of millions of naira of FGPL. He was further accused of diverting “N16 million, being part of the equity contribution of Novare Holding, a South African firm, to another business without following due process and obtaining board approval; collecting N20.5 million as ‘executive allowance’ without board approval and diversion of the company’s assets.” While denying the allegation, Duru described the story as sponsored by “persons of interest.”