A Bureau De Change, BDC Operator, Yusuf Yakub has been dragged to court over allegations of misappropriation of funds and N197m Fraud
Yakub was arraigned by the Economic and Financial Crimes Commission, EFCC, before a Kano State High Court on a count charge.
The defendant was said to have allegedly obtained the sum of $870,000 only from the complainant under the pretext of changing same to Naira but returned only the sum of N220, 300,000 and diverted the balance of N197, 600,000.
Yakub however pleaded not guilty when the charge was read to him.
Upon his not guilty plea, the EFCC counsel, Musa Isah however asked the court for a trial date.
In a counter reaction, Counsel to the defendant, Abdul Adamu informed the court that he had filed a motion challenging the jurisdiction of the court.
Subsequently, the presiding judge, Justice Sanusi Ma’aji, granted the defendant bail in the sum of Fifty Million Naira with two sureties in like sum.
According to the judge, one of the sureties must be a relative of the defendant and both must also be residents of Kano. Their business addresses must also be verified.
The matter was thereafter adjourned till August 18 for argument on the motion.
The Charge reads; “that Yakubu Yusuf on or about 14 of January 2021 within the jurisdiction of this Honorable Court, with intent to defraud, dishonestly and misappropriated the said sum belonging to Oliver Ogokumaka and Obumnemi Okoli and thereby committed an offense contrary to section 308 and punishable under section 309 of the Penal Code.”