Man remanded in custody over fraud

A middle-aged man, Yusuf Ali, has been remanded in custody by Justice Friday Ogazi of the Federal High Court in Lagos following his arraignment on conspiracy charges and fraudulent conversion of property worth N50 million.

Ali was brought before the court by operatives of the Police Special Fraud Unit (PSFU) in Ikoyi, Lagos, and charged with three counts of conspiracy, stealing, and fraud.

The prosecution alleged that on June 29, 2024, Ali conspired with two others, who are currently at large, to convert a DAF XF95 truck with registration number T-8792-LA and its goods, valued at N50 million, for their gain. The truck and its contents belonged to Mr Charles Aghadiuno.
The police stated that Ali’s offences contravene Section 8(a) of the Advance Fee Fraud and Other Related Offences Act 2006, punishable under Section 1(3).

His actions are also contrary to Section 18(2)(b) of the Money Laundering (Prohibition) Act of 2011 as amended in 2012, punishable under Section 18(3) of the same Act, and Section 383(2)(a) of the Criminal Code Act, Cap. C38, punishable under Section 390(8)(b) of the same Act.

Ali pleaded not guilty to all three charges.

The prosecutor requested a trial date and urged the court to remand Ali in custody pending the conclusion of the trial.

Justice Ogazi ordered Ali remanded at the Ikoyi Correctional Centre and adjourned the case for trial on October 29, 2024.