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EFCC Arraigns Business Man over Alleged N6 Million Fraud



The Economic and Financial Crimes Commission, EFCC, has arraigned a business man, Sadiq Mustapha, 33, before Justice Mallong Peter of the Federal High Court, Kaduna.

He was arraigned over a case of allegedly obtaining money by false pretences and operating a Bureau de Change without a valid licence from Central Bank of Nigeria, CBN.

Read Also: Banker, Three Others Arraigned For Stealing From Bank

Sadiq’s trouble started when a petition was submitted to the Kaduna Zonal office of the Commission on February 26, 2019, by one Abdulsalam Danlami Abubakar that sometimes in 2016, the suspect lured him into transferring the sum of N6,100,000 (Six Million, One Hundred Thousand Naira) in three separate transactions from his Zenith Bank Account into the suspect’s company account: Abu-eleven Limited, with account number 4010185189 domicile in Fidelity Bank for exchange of Dollars at the rate of N305 per dollar. Based on that, he was to be credited with $20,000.00 immediately.

After the complainant made the payment, the suspect allegedly refused to pay the Dollar equivalent.

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