The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arrested the Acting Director-General (DG) of National Biotechnology Development Agency (NABDA), a professor of Microbiology and Biotechnology for allegedly defrauding the Federal Government of N400 million.
ICPC intelligence-led investigation revealed that the money, which the Acting DG claimed to be an intervention fund for the biotechnology agency was diverted into private pockets.
According to the ICPC, the Professor was alleged to have shared the above sum of money with some other top management staff members of the Agency.
He was arrested by operatives of the Commission to answer questions on how the said amount belonging to the government could disappear on his watch.
The Acting Director-General is also facing questions bordering on conspiracy and abuse of office.
ICPC said his actions were contrary to and punishable under sections 19 and 26 of the Corrupt Practices and Other Related Offences Act, 2000.
The Commission added that further investigations into alleged fraudulent activities were still ongoing and it would take appropriate action once they were concluded.