FORMER Akwa Ibom State governor, Obong Victor Attah, was, on Wednesday, quizzed for over eight hours by the Economic and Financial Crimes Commission (EFCC) over an alleged 300 million US dollars (N45 billion) money laundering scam during his stay in office.

This came as an intelligence report from security agency abroad, now in possession of the anti-corruption commission, detailed how the alleged scam was perpetrated by allegedly using 21 companies in laundering part of the proceeds of the state’s shares in the then V-mobile telecommunications company.

Commission’s spokesperson, Mr. Femi Babafemi, confirmed the quizzing of Attah, who was said to have been released on administrative bail, with his travel documents reportedly seized.

A source in the commission disclosed to the Nigerian Tribune that Attah’s summon was predicated on the fresh information provided by the intelligence circles abroad, which had been made available to the commission.

The intelligence report, according to the source, disclosed that the state’s shares in the telecommunications firm were bought through the Akwa Ibom Investment and Infrastructural Promotion Council (AKIPCO) and that the proceeds of the sale of the shares were also paid into its accounts domiciled with FCMB branch in Uyo.

The source added that: “It was discovered that when the shares were sold, the payment into AKIPCO account was made in dollars. But when the money was to be laundered, it was paid in naira into the accounts of 21 companies. Then the companies now paid in dollars into the accounts of ADF Inc. with each of the companies keeping five per cent of the money paid into the ADF accounts from where the money was now illegally moved abroad”

The commission, last weekend, served an invitation on Attah over the matter. But the former governor wrote in through his counsel that he would not make it last Monday, which was the original date given him by the commission.

He promised to appear on Wednesday and kept the promise.

The letter of invitation was said to have been delivered to the former governor at his private residence in Lekki, a highbrow area of Lagos last Saturday at about  2.00 p.m.

It was gathered that African Development Funds Incorporated had its name changed four times, allegedly to have its identity covered.

When the controversial deal was reportedly being tied in 2002, ADF Inc., a private firm was reportedly unregistered in the country.