| ALHAJI SAMAILA ABUBAKAR |
BY FRANCIS IWUCHUKWU
LAGOS, NIGERIA - A Bureau De Change operator, Alhaji Samaila Abubakar, charged over alleged fraud to the tune of N78 million, has been granted bail in the sum of N25m with two sureties each in like sum.
The bail was granted by Justice Babs Kuewumi of a Federal High Court sitting at Ikoyi, Lagos state, Nigeria.
The court equally directed that the sureties must have landed properties with Certificate of Occupancy (C-of-O) within the court's jurisdiction, and that evidence of a three-year tax payment must be presented to the court, amongst others.
It would be recalled that Abubakar was docked last Thursday by the Force Criminal Intelligence and Investigation Department (FCIID) Alagbon-Ikoyi, Lagos, on charges bordering on obtaining the sum of N78 million under false pretence.
The BDC operator was equally alleged to have fraudulently obtained the said sum from a company, Reddington Nigeria Limited, sometimes in September, 2009, under the disguise of giving the company United State of America Dollars (USD).
Abubakar was further accused of reneging in the provision of the Dollar equivalent of the said sum to the company, but converted to his personal used.
Henry Obasi, who led the prosecution team informed the court that the offence contravenes sections 1(3) and 15(1)(a)(ii) of Advance Fee Fraud and Other related offences Act, 2006, and that same is punishable under section 15(1)(b) of the Money Laundering (Prohibition) Act, 2011.
But Alhaji Abubakar pleaded not guilty to the charge.
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