Court remands BDC operator over alleged N144m fraud
Justice Yellim Bogoro of a Federal High Court, Lagos, yesterday, ordered the remand of a Bureau De Change (BDC) operator, Mr. Ibrahim Butali Abdulmumin, in the custody of the Nigerian Correctional Services (NCoS) over alleged N144 million fraud.
The court remanded Abdulmumin following his arraignment by the Police Special Fraud Unit (PSFU) Ikoyi, over alleged fraud.
The 41-year-old BDC operator was arraigned on a two-count charge of obtaining by false pretence, unlawful conversion of the sum of N144 million, fraudulently obtained from a company, to his personal use.
The prosecution counsel, Mr. Henry Obiaze, told the court that the defendant on January 20 2022, by false pretence and with intent to defraud, obtained the sum of N144 million, under the pretence of exchanging it for the sum $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 N144 million, derived directly by participating in criminal activity of obtaining money by false pretence, with the aim of either concealing or disguising the illicit origin of the money.
He told the court that the offences 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.
Following his plea of not guilty, Obiaze, asked the court for a trial date, while he also prayed the court to remand the defendant in NCoS’ custody till the determination of the charge.
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.
After their submissions, Justice Bogoro adjourned the matter to November 21 for trial and ordered that the BDC operator be remanded in the custody of the NCoS.