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Alleged N78m Fraud: BDC Operator Remanded in Ikoyi Prison

By Olawale Ojo/ Lagos-Nigeria

Justice Babs Kuewumi of a Federal High Court sitting at Ikoyi, Lagos State, Nigeria, has ordered the remand in prison custody, a Niger Republic Bureau De Change (BDC) Operator, Alhaji Samaila Abubakar, over allegation of fraud to the tune of N78m.

Abubakar was alleged to have obtained the said sum under false pretence.

The court directed that Abubakar be remanded at Ikoyi prison shortly after he pleaded not guilty to a two-count charge of obtaining under false pretence and fraud made against him by the Force Criminal Intelligence and Investigation Department (FCIID) Ikoyi-Lagos, last Friday.

The judge adjourned for hearing and determination of the bail application filed by Abubakar until June 27, 2018.

According to the charge designated, FHC/L/122c/18, it was alleged by the FCIID that the B
ALHAJI SAMAILA ABUBAKARDC operator, with an intent to defraud, obtained the said sum from a company, Reddington Nigeria Limited, sometimes in September, 2009, under the disguise of giving the company United States of America Dollars (USD), but converted the money to his personal use.

Abubakar was also accused of converting the said sum which the police said was derived from participation in an organised crime(s), with the aim of concealing or disguising the illicit origin of the money.

The prosecutor, Henry Obasi, an Assistant Superintendent of Police (ASP), told the court that the offences are contrary to  sections 1(3) and 15(1)(a)(ii) of Advance Fee Fraud and Other related offences Act, 2006, and punishable under section 15(1)(b) of the Money Laundering (Prohibition) Act, 2011.

But the accused pleaded not guilty to the charge, and following which Obasi prayed the judge to remand him in prison custody pending trial.

However, Abubakar’s lawyer, Adeniyi Quadri, pleaded with Justice Kuewumi to allow him move the defendant’s bail application orally.

The plea was consequently thrown out by the trial court which ordered him to make the request formally.





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