By  Simon Ebegbulem
BENIN—THE Chairman of Owan West Local Government Council of Edo State, Mr Dan Asekhame, yesterday, described as untrue,  rumours that he was arrested by the Economic and Financial Crimes Commission, EFCC, for alleged embezzlement of over N100million of council’s fund.

He explained that contrary to the claim by “political mischief makers, the only issue we had was the issue of the performing loan we took in 2006 from First Bank.

But after we employed the services of an external auditors to cross check the interest the bank requested we should pay,  the auditors said it was too high.

“So I went to the Commissioner for Local Government and Chieftaincy Affairs in company of officials of the First Bank and the Commissioner brokered peace between us.

“We agreed on the amount that will be paid monthly. But First Bank was not happy with the arrangement, so they took the matter to the EFCC. They investigated the matter and invited the council lawyers and that of First Bank.

“The lawyers agreed that the council would pay the sum of N35milion as against the N70million being requested earlier by the bank. We all agreed and the council has been paying N5million every month and so far we had paid N25million and we have N10million left,” he said.

“The same petition was sent to the EFCC but First Bank in a letter dated May 26, 2010,  informed the EFCC that the matter had been resolved and that they no longer want to pursue the case.

“So I was shocked when I read reports that I was arrested by the EFCC for fraud. That is embarrassing and the handiwork of my political opponents which has failed,” he added.