Justice Ismail Ijelu of a Lagos State High Court sitting in Ikeja has ordered remand of a Bureau-De-Change, BDC operator, Muhammed Usman at the Correctional facility over allegation of fraud.
The judge ordered remand of Usman after he was arraigned alongside his company, Masha Allah International Resources Limited by the Economic and Financial Crimes Commission, EFCC, on a four-counts charge.
His alleged offence borders on obtaining money by false pretense and stealing.
EFCC alleged that Muhammed Usman and Masha Allah International Resources Limited deceitfully induced and obtained various amount from people and their company.
The anti-graft agency alleged that on August 22, 2022 in Lagos with intent to defraud, deceitfully induced one Abdullahi Dalhatu Isa of Yarinya & Co Farms Limited to pay the sum of N34,350,000.00 into his Access Bank account on the understanding that he have at stock the equivalent foreign currency for exchange at the rate of 685 Naira per 1 US Dollar which pretense he knew was false.
EFCC also alleged that sometime in 2022 in Lagos with intent to defraud, induced one Alhaji Lawal A.A. of Three Brothers Rice Mill Limited to pay the total sum of N34,175,000.00 and N47, 95,000.00, into his Access Bank account on the understanding that he have in stock, the equivalent foreign currency for exchange at the rate of 683.5 Naira per 1 US Dollar which pretense he knew to be false.
He was also alleged of obtaining the sum of N67,600,000.00 through his Providus Bank account from one Suleiman Bashiru on the understanding that he have at stock, the equivalent foreign currency of the said sum, for exchange at the rate of 675 Naira per 1 US Dollar which pretence he knew was false
And also obtained $37,314.00 from one Faisan Haruna, on the understanding that he would give him the naira equivalent which pretense he knew was false.
He however denied the allegation and pleaded not guilty to all the count charge.
Following his plea, EFCC counsel, Mr. Ahmed Yerima prayed the court for a trial date to enable the prosecution assemble its witnesses and for an order of the court remanding the defendant at a custodial facility.
Responding to his submission, the defendant counsel, Mr. Jimoh Bashir urged the court to remand the defendant in EFCC custody.
He pleaded that, he was processing to file his bail application before the court with same to be served on the prosecution soon.
The judge therefore ordered the defendant to be remanded at the Ikoyi Correctional Facility and adjourned the case to June 19, 2023 for trial.