EFCC arraigns BDC operator in Kano for alleged N197m fraud

The Economic and Financial Crimes Commission (EFCC), Kano Zonal Command, on Wednesday arraigned a Bureau De Change (BDC) operator, Yusuf Yakubu, before Justice Sanusi Ma’aji of the State High Court on a one count charge of misappropriation.

The EFCC told the court that the defendant allegedly obtained the sum of $870,000 from the complainant under the pretext of changing same to Naira.

He later returned only N220,300,000 and diverted the balance of N197,600,000.

According to the commission, the funds belong to Oliver Ogokumaka and Obumnemi Okoli.

Read Also:CBN to begin refund of capital deposits, licensing fees to Bureaux De Change

Yakubu’s offense is contrary to section 308 and punishable under section 309 of the Penal Code.

The defendant pleaded not guilty when the charge was read.

Counsel for the prosecution, Musa Isah asked the court for trial date.

Also, the defence counsel, Abdul Adamu said he had filed a motion challenging the jurisdiction of the court.

Justice Ma’aji  then adjourned the case to August 18 for argument on the motion, while granting bail to the defendant withe N50,000,000 and two sureties in like sum.

One of the sureties must be his relative and Kano resident.

Be the first to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.