Court Remands Bureau De Change Operator Over Alleged N144M Fraud
Justice Yellim Bogoro of a Lagos Federal High Court has ordered the remand of a Bureau De Change (BDC) operator, Mr Ibrahim Butali Abdulmumin, in the custody of the Nigerian Correctional Services (NCoS) till 21st November when his trial over alleged One Hundred and Forty-Four Million (N144,000,000.00) only fraud will commence.
Justice Bogoro ordered the remand of the BDC operator following his plea of not guilty to a two-count charge of obtaining by false pretence and unlawful conversion of the sum of Forty-Four Million (N144,000,000.00) only fraudulently obtained from a company to his personal use.
Arraigning the 41-years-old defendant, the prosecutor, Mr Henry Obiaze, from the Police Special Fraud Unit (PSFU) Ikoyi, Lagos, told the court that the defendant on 20th January 2022, by false pretence and with intent to defraud, obtained the said sum under the pretence of exchanging it to the sum of $250, 000 USD, at N576 to one Dollar.
Obiaze, a Deputy Superintendent of Police (DSP), also told the court that the defendant converted the said sum of N 144 million, derived directly by participating in criminal activity of obtaining money by false pretences, with the aim of either concealing or disguising the illicit origin of the money.
He told the court that the offences committed by the BDC operator contravened Section 1(1) (3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006. And Section 15(1) (a) (b) of the Money Laundering (Prohibition) Act, 2011.
The defendant denied the allegations and pleaded not guilty to the charges.
Following his plea of not guilty, the prosecutor, Mr Obiaze, asked the court for a trial date, while also asking the court to remand the defendant in NCoS’ custody till the determination of the charge.
However, counsel to the defendant, Aminat Salawu, did not object to the trial date as requested by the prosecutor. She however told the court that she needed a short date to file her client’s bail application.
Following the parties’ submissions, Justice Bogoro, while adjourning the matter till 21st November for trial, ordered that the BDC operator be remanded in the custody of the NCoS.
