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Businesswoman, five others get N60m bail over alleged N72m fraud



A businesswoman, Chinweze Agada, and five other fraud suspects, who were accused of defrauding a Bureau De Change (BDC) operator of N72 million, have been admitted to bail by a Federal High Court, Lagos, in the sum of N60 million with one surety in a like sum each.

Other accused persons admitted to bail with the businesswoman are Adekunle Ademola, 56, Kupoluyi Adesina, 38, Remi Yusuf, 32, Tessy Olalekan and Yemi Morolani.

Trial judge, Chuka Austine Obiozor also ordered that Agada’s surety should be a landed property owner within the court’s jurisdiction or a director with the civil service of Lagos state or Federal Government.

He also ordered that the sureties to all accused persons must have paid three years tax, and have their addresses and means of livelihood, alongside two recent passport photographs submitted to court and verified by the court’s Deputy Chief Registrar (DCR).


Alternatively, Justice Obiozor ordered that counsel to Agada, could stand as her surety, if he desires, must submit to court his call-to-bar certificate and a bank bond of N70 million.

Pending the fulfillment of the bail conditions, the judge ordered that Adaga be remanded at female section of the Kirikiri Prisons, while her male counterparts be remanded at the Ikoyi prisons.

The accused persons were granted bail following arguments for bail by the defence team, led by Lanre Ogunlesi (SAN) and that of the the prosecutor, Mr. Usman Jibrin, an Assistant Commissioner of Police (ACP).

The defendants were arraigned before Justice Sule Hassan of the same court on July 31, by Men of Force Criminal Intelligence and Investigation Department (FCIID) Force Headquarters, Abuja, for allegedly defrauding a BDC operator, Murtala Haruna Usman of N72 million, under the false pretence of changing the money to USD$200, 000.


All the six accused persons were charged on a nine-count charge, bordering on conspiracy, obtaining under false pretence, false representation, unlawful conversion, fraud, intent to cheat and false information.

The prosecutor had informed the court that the accused persons and others now at large, committed the offence on June 1, 2018, at 22, Olabisi Street, off Association Avenue, Shangisha Lagos.

The police in a charge numbered FHC/L/256c/2018, alleged that the first accused, Agada, who operates with a company named Agiers Energy Company Limited, who is the brain behind the fraud, gave her Access Bank account number 0059808015, where Usman paid the N75 million.

According to him, in a bid to perfect the fraud, she introduced one Hassan Adamu, (now at large) as her worker in her firm, to the fraud victim, Usman.

The matter has been adjourned till September 24, for commencement of trial.

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