$180.6bn Fraud: EFCC Arrests Former SG Pius Anyim

Anyim Pius Anyim, former Secretary to the Federation (SGF) has been arrested by the Economic and Financial Crimes Commission (EFCC) and currently being quizzed by the anti-graft agency over the fraud he allegedly perpetrated involving $180.6 billion Centenary City in Abuja.

Abuja Centenary City, an initiative of the Goodluck Jonathan administration was part of the celebration of the Independence Centenary of Nigeria.

It was gathered that despite being a Public Private Partnership (PPP), the centenary city, was designated a free trade zone, which infers that it will be exempted from both federal and state taxes, plus the Federal Capital Territory (FCT) property tax.

According to Anyim the stocks of the city would be quoted in the Nigerian Stock Exchange as well as other international markets before the end of 2013.

The former SGF gave an assurance to the investors that they would have a good return on their investments if they staked their funds in the project.

However, four years later, centenary city stock has not been listed on any stock exchange and many investors have not seen returns on their investment, thus, have turned to the anti-graft agency to recoup bribe monies paid to Pius Anyim.


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