EFCC Arraigns Bureau de Change Operator For N998.4m Fraud

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The Economic and Financial Crimes Commission, EFCC, on Monday, arraigned Husaini Auwal before Justice J.O Abdulmalik of the Federal High Court, Abuja for alleged illegal financial transactions to the tune of N998.4m.

Auwal was arraigned on a six-count charge of suspicious transaction report of criminal conspiracy, money laundering and obtaining money by false pretence.

This was disclosed in a statement shared on the EFCC Facebook page on Monday.

One of the counts read, “That you, Husaini Mohammed Auwal, being the Managing Director of Humak Global Business Link on or between 2016 and 2017 in Abuja, within the jurisdiction of this honourable court, did carry on, other financial business, to wit: bureau de change business without a valid licence issued by the Central Bank of Nigeria contrary to Sections 57 and 59 (5) of the Banks and other Financial Institutions Act, 2020.”

He was said to have pleaded “not guilty” to all the charges when they were read to him, following which prosecution counsel, Deborah Eteh, asked the court for a trial date and for the defendant to be remanded in a correctional facility.

The defence counsel, however, called the attention of the court to an existing bail application and prayed the court to grant the defendant bail on liberal terms.

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Justice Abdulmalik adjourned the matter till February 23, 2024 for hearing of bail application and March 21, 2024 for trial. She also ordered that the defendant be remanded in EFCC`s custody till the adjourned date.

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