Courts Order Forfeiture Of Millions In Proceeds From Unlicensed Bureau De Change And Internet Fraud

Similarly, a Kwara State High Court presided over by Justice Hammed Gegele also jailed the duo of Abdulalahi Abdulrasaq Omotosho and Akeem Ibrahim Salaudeen for involvement in Internet fraud-related crime.

The head of Media and Publicity of the EFCC, Dele Oyewale, in a statement issued in Ilorin, on Monday night, stated that the Ilorin Zonal Directorate of the commission had on Wednesday, October 9, 2024, arraigned the trio before the courts on separate charges.

The charge against Yakubu reads:

“That you, Yakubu Aminu, sometime in July 2024, at the Chikanda Market, Yashikira District, Baruten Local Government Area, Kwara State, within the jurisdiction of this Honourable Court, did carry on, other financial business, to wit: Bureau De Change Business without a valid licence issued by the Central Bank of Nigeria contrary to Section 15 (5) of the Banks and other Financial Institutions Act, 2020 and punishable under Section 57 (5) (B) of the same Act.”

The charge against Akeem reads:

“That you, Akeem Ibrahim Salaudeen, between December 3, 2018, and November 8, 2024, in Ilorin, Kwara State within the jurisdiction of Honourable Court, did knowingly have under your control the sum of N4,069, 000.00 (Four Million, Sixty Nine Thousand Naira Only) in your bank account number 2104916025 with the name, Akeem Ibrahim Salaudeen, with the United Bank of Africa Plc which you knew to be proceeds of criminal conduct and thereby committed an offence contrary to and punishable under Section 319 (a) of the Penal Code Laws of Northern Nigeria.”

The three defendants pleaded guilty to their respective charges read to them in court during the trial.

The court thereafter convicted and sentenced the defendants to various jail terms relying on the credibility of the cases presented before it and the unchallenged evidence of the prosecution.

Justice Awogboro sentenced Aminu to 200 hours of community service without an option of fine and also ordered that the sum of 50,000cfa and N368,500 recovered from him at the point of arrest be forfeited to the Federal Government.

Justice Gegele on his part sentenced the duo of Akeem and Abdullahi to six months imprisonment each with an option of N150,000. The sum of N4,069,000.00 recovered from Akeem alongside his iPhone 11 and $600 recovered from Abdulahi together with iPhone 11 Pro Max, being proceeds of their crimes were forfeited to the Federal Government.

The convicts bagged their imprisonment when they were arrested for Internet-related fraud and were investigated, charged to court and convicted.