NAB arrests another accused in NICL reference

 KARACHI: National Accountability Bureau (NAB-Karachi) has arrested accused Shahab Siddiqui, in NICL corruption case.

NAB press release said here on Tuesday that the accused  was former Manager Investment Policy NICL and was also part of in-house investment board that processed and approved illegal investment of Rs 100 million in First Dawood Investment Bank Ltd (FDIBL) during 2008-09.

The illegal investment which caused loss of Rs 64 million to the national exchequer, was made by the accused persons in violation of policy with mala fide intention.