The Economic and Financial Crimes Commission (EFCC) is allegedly investigating Adebutu Kessington, Nigerian businessman popularly known as Baba Ijebu, for alleged tax fraud and economic sabotage, according to PREMIUM TIMES.
Segun Adebutu, one of his children who is one of the management officials of Premier Lotto, is reported to have been detained at the EFCC office in Lagos for questioning.
According to officials of the commission, the investigation is as a result of a petition submitted by Western Lotto, another betting company which is run by Buruji Kashamu, a former senator.
Adebutu and Kashamu both hail from Ogun state.
PREMIUM TIMES quoted EFCC sources as saying that they have identified N5 billion revenue that should have been remitted to the federal government but was allegedly kept aside by the company.
The probe might be expanded to include other betting companies and investigate claims of sharp practices and how some firms allegedly withhold funds from winning customers.The EFCC has not filed any charges against Premier Lotto.
Signup for FREE news updates, latest information and hottest gists everyday/Advertise on NigerianEye.com