Ponzi scheme: Bizman Dalori rearrested after N5m bail

The Economic and Financial Crimes Commission (EFCC) has re-arrested businessman Engr Babagana Abba Dalori charged with alleged fraud. A Federal High Court in Abuja had last week granted Dalori bail in the sum of N5m and two sureties in like sum, who must also be residents within the court’s jurisdiction However, the  EFCC spokesman, Mr. […]

The Economic and Financial Crimes Commission (EFCC) has re-arrested businessman Engr Babagana Abba Dalori charged with alleged fraud.

A Federal High Court in Abuja had last week granted Dalori bail in the sum of N5m and two sureties in like sum, who must also be residents within the court’s jurisdiction

However, the  EFCC spokesman, Mr. Tony Orilade, confirmed  the arrest of the owner of Galaxy Transport and Construction Services Ltd, Engr Babagana Abba Dalori over the weekend.

Justice Ijeoma Ojukwu had also restrained the EFCC from taking any step which would be inimical to the guaranteed fundamental rights of Dalori as provided under sections 35 and 41 of the 1999 Constitution.

Justice Ojukwu ruled alternatively that the EFCC should arraign Dalori in any court of competent jurisdiction over the alleged offences.

Dalori was arrested on March 29 over allegations of collecting the sum of N7 billion from 20,700 investors in the transport company in the North East.