Court remands BDC 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 November 21, when his trial over alleged N144 million fraud will commenced.

Justice Bogoro ordered the remand of the BDC operator, after he pleaded not guilty to a two count-charge of obtaining by false pretence and unlawful conversion of the sum of N144 million, fraudulenty 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 January 20, 2022, by false pretence and with intent to defraud, obtained the sum of N144 million, under the pretence of exchanging it to 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 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 asked the court to remand the defendant in NCoS’ custody till the determination of the charge.

However, counsel to the defendant, Aminat Salawu, did not objected to the trial date as requested by the prosecutor, she however, told the court that she needed a short date file her client’s bail appllication.

Following the parties’ submissions, Justice Bogoro while adjourned the matter till November 21, for trial, ordered that the BDC operator be remanded in the custody of the NCoS.