EFCC Brings Ex-Banker And Accomplice To Court For N110m Fraud

EFCC Brings Ex-Banker And Accomplice To Court For N110m Fraud

The Economic and Financial Crimes Commission (EFCC) has initiated legal proceedings against a former banker, Victor Joseph, and another individual, Ahmad Aliyu, on charges of money laundering involving N110 million…..READ ALSO Ex-Minister Challenges EFCC’s Authority In $6bn Fraud Allegation

In a statement released on Tuesday via the EFCC’s official communication channel, it was revealed that the defendants stand accused of unlawfully transferring N110 million from the National Assembly office account between March 27 and April 11, 2023, using fraudulent transfer instructions.

Further investigations revealed that the falsified instructions were submitted at the UBA National Assembly Business office, Abuja Branch, leading to the transfer of funds to various beneficiaries across three banks. Subsequently, the funds were traced to several recipients who later returned the money to Joseph, the initiator of the transactions.

The defendants faced a five-count charge related to money laundering, presented before Justice N.E. Maha of the Federal High Court, Maitama Abuja. Both Joseph and Aliyu pleaded not guilty to the charges, prompting the prosecution counsel, Joshua Saidi, to request a trial date.

Counsels for the defendants, Gbenga Ashowole and Nelem Orji, informed the court of their applications for bail on behalf of their clients.

Following the proceedings, Justice Maha remanded the defendants in the Kuje Correctional Centre and scheduled the hearing of bail applications for February 27, 2024.

This development echoes a similar case reported by The Ireporteronline in July 2023, where the Edo State Police Command arrested a former banker, Gift Igbinosun, for allegedly defrauding individuals under false pretenses.