BDC Operator Remanded Over N11m Fraud

A Bureau de Change (BDC) operator, Usman Dauda, was today remanded at the Ikoyi Center of the Nigerian Correctional Services (NCoS), by a Lagos Federal High Court, over alleges fraud of  N11, 041 million.

The BDC operator remand was sequel to his arraignment before the court presided over by Justice Yelim Bogoro on charges bordering on conspiracy, obtaining sum of N11, 041 million by false pretence and unlawful conversion of the said amount, by the operatives of the Police Special Fraud Unit (PSFU), Ikoyi, Lagos.

The BDC operator, according to the prosecutor, Mr. Henry Obiazi, conspiracy with one Adesina Adedeji Joel, and fraudulently obtained the sum of N11,041 million, from one Eric Okunde, with the pretence of providing and give him United States’ dollar equivalent.

The prosecutor told the court that the BDC operator and his co-accused, who is now at large, committed the offences on August 5, 2018.

He also told the court that the defendant and his co-accused derived directly from participating in an organized crime and racketeering, with the sole aim of concealing or disguising the illicit origin of the fund.

The prosecutor, Mr. Obiazi told the court that the alleged acts of the BDC operator contravened sections 8 (a) and 1 (3) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006. And section  15 (1) (b) of the Money Laundering (Prohibition) Act, 2011. 

The defendant denied the allegations and pleaded not guilty to the charges.

Following his not guilty plea, the prosecutor asked the court for a trial date, as well, urged the court to remand him in the NCoS’ custody, pending when he will bring his bail application to court.

But the defendant’s lawyer, Obadeume Charles, orally urged the court to admit his client to bail in the most liberal terms.

He told the court that his client was oblivious of the charge, adding that he was only invited to SFU yesterday without knowing that he will be charge to court today.

Opposing the counsel’s request, the prosecutor told the court that the defendant has been evading prosecution for past two years. Adding that the police were able to arrest him after he was tracked.

He urged the court to discountenance the counsel’s application for bail.

Justice Bogoro after listening to counsel’s submissions, held that the court is a court of record, and urged the defendant’s lawyer to file necessary process for his client’s bail.

The judge thereafter adjourned the matter to April 29, 2024, while also ordered that the BDC operator be remanded at the Ikoyi Center of the NCoS till when his bail application will be heard and determined.

Charges against the defendant reads: “That you Usman Dauda ‘m’ and one Adesina Adedeji Joel (still at large) sometimes on or before the 5th day of August, 2018 at Lagos within the jurisdiction of this Hon. Court did conspire together to commit felony to wit; Obtaining Money by False Pretences and thereby committed an offence punishable under Section 8 (a) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006. 

“That you Usman Dauda ‘m’ and one Adesina Adedeji Joel ‘m’ (still at large) on the 5th day of August, 2018 at Lagos within the jurisdiction of this Hon. Court did by False Pretence and with intent to defraud obtained the sum of Eleven Million, and Forty-One Thousand Naira (N11,041,000.00) from one Eric Okunde ‘m’ under the guise of giving him the United States of America Dollars equivalent and thereby committed an offence punishable under Section 1 (3) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006.

“That you Usman Dauda ‘m’ and Adesina Adedeji Joel ‘m’ (still at large) sometimes in August, 2018 at Lagos within the jurisdiction of this Hon. Court did converts the sum of Eleven Million, and Forty-One Thousand Naira (11, 041, 000.00) derived directly from participation in an organized crime and racketeering with the aim of either concealing or disguising the illicit origin of the property and thereby committed an offence punishable under Section 15 (1) (b) of the Money Laundering (Prohibition) Act, 2011.”