A Bureau De Change operator in Kano State Umar Abdulrahman Arraigned for Fraud

A Bureau De Change operator in Kano State Umar Abdulrahman Arraigned for Fraud

In Kano State, a Bureau De Change operator, Umar Goni Abdulrahman has been charged with criminal breach of trust.

Mr. Umar was arraigned on Tuesday by the Economic and Financial Crimes Commission, (EFCC) Kano Zonal Office. His case was presided over by Justice Usman Na’abba of the Kano State High Court.

The allegation has it that the accused’s bank account was confirmed to be credited, yet he didn’t keep his part of the bargain, by sending the dollar equivalent to the petitioner.

The accused was alleged obtained the sum of N29.7million from the claimant sometime in December 2019, under the guise of transferring the dollar equivalent to him.

After noticing that the defendant wasn’t willing to send the dollar equivalent, the petitioner requested for a refund, all to no avail.

The charge stated that the defendant, Umar Goni Abdulrahman had sometime in December 2019 at Kano, fraudulently misappropriated N29,700,000 which was transferred by Abdulrahman Ibrahim, to his bank account No 3646288026, domiciled by with FCMB for the purchase of United States of America dollar

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The charge read: ”That you Umar Goni Abdulrahman, sometime in December, 2019 at Kano, within the judicial division of the High Court of Justice, Kano, being entrusted with the sum of N29,700,000 by Abdulrahman Ibrahim, which was transferred to your bank account No 3646288026, domiciled with FCMB for the purchase of United States of America dollar, fraudulently misappropriated same, in violation of the mode in which such trust is to be discharged, and thereby committed an offence contrary to Section 311 and punishable under Section 312 of the Penal Code”.

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The defendant, Mr. Umar pleaded ‘‘not guilty” to the charges when they were read to his hearing.

The prosecution counsel, Idris Haruna applied for a date to open his case. He also requested that the defendant should be remanded at the Correctional Service. However, defence counsel, Adamu Kalandi moved a motion for bail for his client.

The judge adjourned the case till September 22, 2020 for hearing.

Before the adjournment, the presiding Judge, Justice Na’abba granted the defendant, Mr. Umar, bail in the sum of N10 million, with two reliable sureties in like sum. One of the sureties should be an owner of a landed property within the jurisdiction of the court.

Other conditions for the bail are: The defendant and the sureties are to deposit two recent passport photographs with the registrar of the court, and their addresses would be verified by the registrar of the court.

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In March 2020, Over 100 Bureau De Change Operators were fined N5 million by the Central Bank of Nigeria, CBN, for various infractions in the foreign exchange market.

The apex bank used the opportunity to issue a serious warning to the BDC operators against contravening laid down rules and laws in the foreign exchange market.

The Central Bank of Nigeria (CBN) manual defines Bureau De Change (BDC) as a retail foreign exchange dealer carrying on the business of Personal Travel Allowance (PTA), Business Travel Allowance (BTA), medical and school fees, and also to carrying on inward and outward transfer.

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