Home » Former Fidelity Manager Nwodo Martha Charged with Fraud

Former Fidelity Manager Nwodo Martha Charged with Fraud

EFCC Accuses Martha of Stealing Over N39 Million

by Amelia Crawford

FB_IMG_1718863782407

The Enugu Zonal Command of the Economic and Financial Crimes Commission (EFCC) has arraigned Nwodo Martha, a former Principal Manager at Fidelity Structures Limited, before Justice H. U. Ezugwu of the Enugu State High Court. Martha faces nine counts related to fraudulent conversion and theft, amounting to a staggering N39,847,800.

The charges detail instances of Martha allegedly converting company funds for personal use, including N5,840,000 between February and December 2017 and N19,520,500 from February to December 2021, both related to brewery product purchases.

Martha pleaded not guilty, prompting the EFCC to request a trial date and remand her at the Enugu State Correctional Facility. Despite a defense motion for bail, which was vehemently opposed by the prosecution, the court granted bail set at N10 million, requiring a surety who must be a level 13 civil servant.

The case, adjourned to July 24, 2024, stems from a petition by Fidelity Structures, which claims Martha misappropriated funds and blocked company directors from accessing crucial operational information. She allegedly sold two company delivery vans under false pretenses, further deepening the allegations against her.

You may also like

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy

Adblock Detected

Please support us by disabling your AdBlocker extension from your browsers for our website.