Friday, April 19, 2024

Kaduna Bureau De Change operator jailed for N6m fraud

Justice Mallong Peter of the Federal High Court, Kaduna, on Wednesday, sentenced a Bureau De Change operator, Sadiq Mustapha, to seven years in prison without an option of fine for obtaining N6.1m by false pretences and operating an illegal BDC.

This was sequel to his prosecution by the Economic and Financial Crimes Commission, Kaduna zonal office.

Mustapha was arraigned on December 2, 2019, on two counts for obtaining money by false pretences and operating a BDC without authorisation from the Central Bank of Nigeria.

A statement by the Head, Media and Publicity, EFCC, Dele Oyewale, said the convict was investigated following a petition by one Abdulsalam Abubakar, who alleged that sometime in 2016, Mustapha lured him into transferring the sum of N6.1m at three different times from his Zenith Bank account to a Fidelity Bank account belonging to his company, Abueleven Limited, in exchange for $20,000.


It said that Mustapha pleaded not guilty to the charges, adding that in the cause of trial, the prosecution counsel, S. Saad, presented two witnesses and tendered various exhibits.

“Apart from the sentence, Justice Peters further ordered the convict to make N100,000 restitution to the complainant, having earlier refunded the sum of N6m to him, and an additional N100,000 as fine to the Federal Government,” the statement read in part.

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