Connect with us

Hi, what are you looking for?

News

EFCC Raises Alarm As Bureau-de-Change Operator Gets Seven Years Jail Term.

The Economic and Financial Crimes Commission, EFCC, Kaduna Zonal Office has secured a seven year prison term of one Sadiq Mustapha without option of fine.

The Page News confirms that the sentence was handed to Mustapha on Wednesday by Justice Mallong Peter of the Federal High Court, Kaduna for obtaining money by false pretence to the tune of N6,100, 000 (Six Million One Hundred Thousand) and operating illegal bureau de change.

Mustapha was arraigned on December 2, 2019 on a two-count charge, bordering on obtaining money by false pretence and operating a bureau de change without authorisation by the Central Bank of Nigeria, CBN.

Trouble began for the convict following a petition by one Abdulsalam Danlami Abubakar, who alleged that sometime in 2016, Mustapha 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 to that of his company, Abueleven Limited, domiciled in Fidelity Bank for exchange with dollar equivalent of $ 20,000 USD.

One of the count read: “That you Sadiq Mustapha while being the Chairman/Chief Executive Officer of your company, called Abueleven Limited, sometime in 2016, at Kaduna within the judicial division of the Federal High Court of Kaduna, without appropriate licence from the Central Bank of Nigeria, CBN, and with intent to defraud, obtained from one Abdulsalam Danlami Abubakar, the total sum of N6.1m through your company account called Abueleven Limited with account number 4010185189, domiciled at Fidelity Bank Plc for changing the money to $20 000 United State Dollars at the rate of N305 per dollar, which you knew all to be false and thereby committed an offence contrary to Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offence Act 2006.”

He pleaded not guilty to charges. In the cause of trial prosecution counsel, S.H.SA’AD presented two witnesses and tendered various exhibits.

Apart from the sentence, Justice Mallong further ordered the convict to make a N100,000 (One Hundred Thousand Naira) restitution to the complainant, having earlier refunded the sum of N6,000,000 (Six Million Naira) to him, and additional N100,000 (One Hundred Thousand) fine to the Federal Government of Nigeria on count-two of the charge.

Meanwhile, the Economic and Financial Crimes Commission, EFCC says its attention has been drawn to the ”antics of some few elements in the social media, employing desperate antics of blackmail, and smear campaigns against the successful war being fought against corrupt practices by the Commission and its courageous Chairman, Ibrahim Magu.”

In a statement issued by the financial crime fighting body, signed by its Media head, Dele Oyewale and made available to TPN,the body stressed that as law enforcement agency, the EFCC has enough facts about the sponsors of such insidious campaigns.

”It is an unflattering fact that corruption will always fight back and the Commission is not surprised that such a campaign could be coming from some overseas-based, politically-exposed and disgraced elements being investigated for unnerving acts of corruption.

”For his courage, consistence and never-say-die spirit, Magu, would undoubtedly, have a tribe of hard critics, cynics and bitter foes” the statement read.

It added however, that it is uncharitable to link him with the ownership of some buildings belonging to other individuals with verifiable addresses, insisting also that It is ridiculous to allege that Magu shied away from being served a fictitious writ of summons over a matter long decided by the Judiciary.

”The Commission finds every unfounded claim against it and its helmsman, as desperate backlash from disreputable elements suffering its uncompromising works against corrupt practices.

Declaring that it is not worried about such retrograde moves, the anti financial crime body registered that members of the public only need to ignore tendencies aimed at blackmailing the EFCC and its workforce.

”The Commission is on the trail of all the blackmailers and paid agents of darkness armed against it. Massive investigations of the platforms being used and their promoters have commenced. Facts about their operations shall be made known to the public and outcome of investigations being carried out shall also be released to the public. Appropriate legal actions are also being taken against bloggers and their promoters embarking on a campaign of calumny against the Commission.

”The EFCC, its helmsman and entire workforce would not be dismayed or distracted in any way. The task of fighting corruption is sacrosanct and no reactionary antics of detractors will succeed against the Commission” the statement concluded.

EFCC Raises Alarm As Bureau-de-Change Operator Gets Seven Years Jail Term.

The Economic and Financial Crimes Commission, EFCC, Kaduna Zonal Office has secured a seven year prison term of one Sadiq Mustapha without option of fine.

The Page News confirms that the sentence was handed to Mustapha on Wednesday by Justice Mallong Peter of the Federal High Court, Kaduna for obtaining money by false pretence to the tune of N6,100, 000 (Six Million One Hundred Thousand) and operating illegal bureau de change.

Mustapha was arraigned on December 2, 2019 on a two-count charge, bordering on obtaining money by false pretence and operating a bureau de change without authorisation by the Central Bank of Nigeria, CBN.

Trouble began for the convict following a petition by one Abdulsalam Danlami Abubakar, who alleged that sometime in 2016, Mustapha 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 to that of his company, Abueleven Limited, domiciled in Fidelity Bank for exchange with dollar equivalent of $ 20,000 USD.

One of the count read: “That you Sadiq Mustapha while being the Chairman/Chief Executive Officer of your company, called Abueleven Limited, sometime in 2016, at Kaduna within the judicial division of the Federal High Court of Kaduna, without appropriate licence from the Central Bank of Nigeria, CBN, and with intent to defraud, obtained from one Abdulsalam Danlami Abubakar, the total sum of N6.1m through your company account called Abueleven Limited with account number 4010185189, domiciled at Fidelity Bank Plc for changing the money to $20 000 United State Dollars at the rate of N305 per dollar, which you knew all to be false and thereby committed an offence contrary to Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offence Act 2006.”

He pleaded not guilty to charges. In the cause of trial prosecution counsel, S.H.SA’AD presented two witnesses and tendered various exhibits.

Apart from the sentence, Justice Mallong further ordered the convict to make a N100,000 (One Hundred Thousand Naira) restitution to the complainant, having earlier refunded the sum of N6,000,000 (Six Million Naira) to him, and additional N100,000 (One Hundred Thousand) fine to the Federal Government of Nigeria on count-two of the charge.

Meanwhile, the Economic and Financial Crimes Commission, EFCC says its attention has been drawn to the ”antics of some few elements in the social media, employing desperate antics of blackmail, and smear campaigns against the successful war being fought against corrupt practices by the Commission and its courageous Chairman, Ibrahim Magu.”

In a statement issued by the financial crime fighting body, signed by its Media head, Dele Oyewale and made available to TPN,the body stressed that as law enforcement agency, the EFCC has enough facts about the sponsors of such insidious campaigns.

”It is an unflattering fact that corruption will always fight back and the Commission is not surprised that such a campaign could be coming from some overseas-based, politically-exposed and disgraced elements being investigated for unnerving acts of corruption.

”For his courage, consistence and never-say-die spirit, Magu, would undoubtedly, have a tribe of hard critics, cynics and bitter foes” the statement read.

It added however, that it is uncharitable to link him with the ownership of some buildings belonging to other individuals with verifiable addresses, insisting also that It is ridiculous to allege that Magu shied away from being served a fictitious writ of summons over a matter long decided by the Judiciary.

”The Commission finds every unfounded claim against it and its helmsman, as desperate backlash from disreputable elements suffering its uncompromising works against corrupt practices.

Declaring that it is not worried about such retrograde moves, the anti financial crime body registered that members of the public only need to ignore tendencies aimed at blackmailing the EFCC and its workforce.

”The Commission is on the trail of all the blackmailers and paid agents of darkness armed against it. Massive investigations of the platforms being used and their promoters have commenced. Facts about their operations shall be made known to the public and outcome of investigations being carried out shall also be released to the public. Appropriate legal actions are also being taken against bloggers and their promoters embarking on a campaign of calumny against the Commission.

”The EFCC, its helmsman and entire workforce would not be dismayed or distracted in any way. The task of fighting corruption is sacrosanct and no reactionary antics of detractors will succeed against the Commission” the statement concluded.

Latest Posts

News

A reverend father kidnapped has been freed after 10 days in captivity. Fr Mathew Dajo, of the Parish Catholic Church, Yangoji in Kwali Area...

News

The Nigerian Army has said that the Boko Haram attacks were instigated by the international community to “cut Nigeria to size.” The Acting Director,...

Crime

The trial of Olatunji Amusan, Managing Director, Cast Oil and Gas, for an alleged N260 million fraud, continued on Wednesday, December 2, 2020 before...

Uncategorized

The Northern Elders Forum on Wednesday asked the President, Major General Muhammadu (retd.), to resign. According to the group, the President has failed in...

Entertainment

The Movie, Alejo Oran is due for public exhibition anytime soon.          Busayo Idowu Gold Bussibby, the brain behind the much...

You May Also Like

Politics

Indications have emerged that the National leader of the All Progressive Congress (APC) Asiwaju Bola Ahmed Tinubu may have shifted allegiance from his party’s...

News

Former Emir Of Kano, Sanusi Lamido Sanusi may have put his dethronement in March this year, as the traditional head of the ancient Northern...

News

Popular gospel act, Lanre Teriba aka Atorise is presently in an unstable condition following injuries he sustained during an attack in Lagos at the...

News

Good morning Gentlemen of the Press and thank you for honouring our invitation. Let me start by appreciating the Inspector General of Police, IGP...