Bureau De Change Association Chairman sent to prison

The Chairman of Alade Shopping Complex Bureau de Change Association of Nigeria in Ikeja, Lagos, Alhaji Samaila Abubarkar,48, aka Dan Niger from Niger Republic has been arraigned before a Federal High Court in Lagos for allegedly obtaining the sum of N78,000,000 from the management of Reddington Nigeria Ltd under false pretence.

The accused was arrested by the operatives of the Federal Criminal Investigation and Intelligence Department, FCIID, Alagon Close, Ikoyi, Lagos and charged before the court on a two-count charge bothering on obtaining money under false pretence and unlawful conversion.

Police Counsel, Supol Henry Obiazi informed the court presided over by Justice Babs Kwewumi in charge No FHC/L/122c/2018 that the defendant committed the alleged offence in 2009 in Ikeja, Lagos, Southwest, Nigeria.

Obiazi told the court that the management of Reddington Nigeria Ltd reported to the Police that the defendant claimed to be a bureau de change operator and the Chairman of Alade Shopping Complex Bureau de Association of Nigeriaand collected the sum of N78m from them since 2009 with the promise to pay them back with United States of America dollars equivalent.

Obiazi said that the complainants stated that they were shocked that since the defendant collected the N78m from them, he failed to pay back the U.S dollars equivalent as agreed and also failed to refund the N78m till date.

He said that the complainants further stated that they decided to report the matter to the Police when all efforts to recover the money from the defendant proved abortive.

Obiazi said the offences, the defendant committed were punishable under sections 1(3) of the advance fee fraud and other fraud related offences Act, 2006 and contrary to section 15(1)(a)(i) and punishable under section 15(1)(b) of the money Laundering (prohibition) Act, 2011.

The defendant, however, pleaded not guilty to the alleged offence in the open court and Justice Babs Kwewumi ordered that the defendant be kept at the Ikoyi Prison, Lagos till 27 June, 2018 for probable consideration of his bail applications.