N130m Fraud: EFCC releases ex-Reps speaker, Patricia Etteh on bail

The Economic and Financial Crimes Commission (EFCC) Friday released Patricia Etteh, a former Speaker of the House of Representatives on administrative bail after three days of interrogation.

She was released Friday night upon fulfilling bail conditions offered her by investigators working on her matter.

Etteh is to report periodically to assist further investigations, a source at the EFCC told this newspaper on Friday night.

The former speaker was arrested on 17 May over suspicious and shady financial involvement with Phil Jin Projects Limited.

According to reports, in 2011 Phil Jin Project Limited was given a contract by the NDDC for the supply of solar-powered street lights in some communities in Akwa Ibom.

The company received N287m even though the contract was worth N240m.

Phil Jin Project Ltd later paid N130m to Patricia Etteh.

EFCC is trying to find out why she collected the money, when she is not a director of the company.