EFCC Arraigns Businessman, Coy for Alleged N822.4m Fraud
The Economic and Financial Crimes Commission (EFCC), on Wednesday, arraigned a businessman, Uchenna Minnis, before an Ikeja Special Offences Court for alleged N822.4 million fraud.
Minnis was arraigned alongside his company, Howard Minnis Asset Management Ltd., on a two-count charge of obtaining by false pretence and dishonest conversion.
The EFCC counsel, Mr Mohammed Bashir, told the court that the accused and his company allegedly committed the offences sometime in 2023.
He said the accused allegedly dishonestly converted the sum of N822.4 million to his own use, property of Krystal Lubes Ltd.
Bashir alleged that the sum was paid to the accused for the purchase of 900,000 litres of SN 900 Base Oil and 500,000 litres of SN 500 Base Oil at the rate of N970 per litre.
The prosecutor also alleged that the accused fraudulently obtained the said money from Krystal Lube Ltd. under the guise that the money would be used for the purchase of 900,000 liters of SN 900 Base Oil and 500,000 litres of SN 500 Base Oil at the rate of N970 per litre, a representation he knew to be false.
According to him, the alleged offences contravene Sections 1 (3) of the Advanced Fee Fraud and Other Related Offences Act 2006 and Section 285 (1) of the criminal law of Lagos State 2011.
Bashir urged the court to remand the accused in a correctional centre until the next adjourned date.
The accused pleaded not guilty of the charge.
Counsel to the accused, Mr Kester Elebesunu, however, told the court that since the fresh facts had been raised in the charge sheet, he would be asking for a short adjournment to enable him respond to the issues raised.
He said a bail application for his client had been filed before the court, and pleaded that his client should rather be remanded in the EFCC’s custody.
Justice Rahman Oshodi, acquiesced to the defence counsel’s plea, ordering the remand of the accused in the EFCC’s custody.
He adjourned the case until Nov. 30, for hearing of bail application and for the commencement of trial
, on Wednesday, arraigned a businessman, Uchenna Minnis, before an Ikeja Special Offences Court for alleged N822.4 million fraud.){kind=link}