The trial of Alhaji Usman Abubakar and the Young Alhaji Foundation over an alleged forex fraud has been adjourned till October 28, 2024.
They are being prosecuted by the Economic and Financial Crimes Commission (EFCC) on charges related to obtaining money by false pretence and stealing to the tune of N950 million.
The charges involve obtaining money from Ano Farms Limited under false pretences and attempting to convert a large sum of money dishonestly.
During the recent court proceedings, the first prosecution witness, Niyi Oyewole, reaffirmed his testimony regarding the money transfer to the defendant and the subsequent lack of a dollar equivalent.
There were also documents tendered by the second defendant’s counsel and admitted as exhibits.
One of the counts reads: “Alhaji Usman Abubakar, Young Alhaji Foundation and Dr Abu Omer Fawaz (at large), sometime in September 2022, within the jurisdiction of this Honourable Court, conspired amongst yourselves to obtain the sum of N950,000,000 from Ano Farms Limited under the false pretence that you had the dollar equivalent of the said sum, which pretence you knew to be false.”
Another count reads: “Alhaji Usman Abubakar and Young Alhaji Foundation, on the 20th of September 2022, within the jurisdiction of this Honourable Court, attempted to dishonestly convert the sum of N180,000,000.00 (One Hundred and Eighty Million Naira), property of Ano Farms Limited to the use of Abdullahi Mohammed.”
He pleaded “not guilty” to the charges when he was first arraigned on February 22, 2023.
Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, adjourned the case for continuation on October 28 and 29, 2024.
