Alleged N250m fraud: Court admits director to N10m bail

Justice Peter Affen of an FCT High Court, Maitama on Thursday admitted Abdulrahman Aliyu, a director with Echo Logistics Limited, Abuja to in the sum of N10million.

The Economic and Financial Crimes Commission (EFCC), charged Aliyu with three counts of fraud, misappropriation and forgery.

Justice Affen while delivering a ruling, said:”in the absence of any opposition by the prosecution, who agreed that the defendant was admitted to administrative bail, I will admit the defendant to bail on the same conditions”.

The judge ordered the defendant produce a GL 14 officer as surety.

He also ordered the defendant to deposit his international passport and traveling documents to the Registrar of the court.

He adjourned the matter until March 11 for trial.

Earlier, the EFCC counsel, Yetunde Alabi, told the court that the defendant committed the offence between July, 2018 to July 2019 in Abuja.

Alabi alleged that the defendant, one of the directors in Echo Logistics Limited was entrusted with N250 million to invest in call-card production by a businessman, Chubado Babbi.

Alabi added that the money was paid into the company’s account with Jaiz bank.

The prosecutor further alleged that the defendant fraudulently forged a document entitled: ‘INVESTMENT OF N200 MILLION’ purportedly signed by one Aliyu Yayaha Lawal.

This she said was an intent to commit fraud.

Alabi said that the offence contravened the provisions of sections of 311, 363 of the Penal Code and is punishable under sections 312 and 364 of the same Act.

The defendant however pleaded not guilty to the allegations preferred against him.

Defence counsel, J.A. Augustine, applied for bail for his client.