EFCC freezes Billionaire Businessman Cletus Ibeto's accounts

Chairman of Ibeto Group, Cletus Ibeto has been invited by the Economic and Financial Crimes Commission, EFCC over his alleged role in the "fraudulent" arms procurement deals.

Sources disclosed that bank accounts belonging to the business mogul who presides over one of Africa’s largest business enterprises have also been frozen by the EFCC.

Vice President Yemi Osinbajo had disclosed that about $15 billion - equal to half of Nigeria’s foreign reserve - was looted under the Goodluck Jonathan administration through arms "fraud" procurement deals.