Woman, five others get bail over alleged N72m fraud

A Federal High Court, Lagos, on Thursday slammed a N60 million bail on a businesswoman, Chinweze Agada, for allegedly defrauding a Bureau De Change operator to the tune of N72 million.

Agada was granted bail alongside five others, Adekunle Ademola; Kupoluyi Adesina; Remi Yusuf; Tessy Olalekan and Yemi Morolani.

Justice Chuka Obiozor, also granted the other suspects N60 million bail each with one surety each in like sum.

The judge while granting the six accused bail, ordered that surety to the businesswoman should be a landed property owner within the court’s jurisdiction or a director with the civil service of Lagos State or Federal Government.

Obiozor, however, gave an alternative order to counsel to Agada that “if he wished to stand as her surety, he must submit to the court his Call-to-Bar certificate and a bank bond of N70 million”.

The judge said that the sureties to the other five accused should only show evidence of tax payment to the state government for three years.

He also said the sureties must have their addresses and means of livelihood alongside two recent passport photographs submitted to the court and verified by the court’s deputy chief registrar.

The judge had admitted the accused to bail after entertaining arguments from their counsel who include Lanre Ogunlesi (SAN), Sunday Abumeren, Dapo Daramola, Abdulrahaman Yussuf, Olanrewaju Agbeniyi, O. Y. Arogundade and the prosecutor, ACP Usman Jibrin, an Assistant Commissioner of Police.

The accused were arraigned before Justice Sule Hassan on July 31, by men of Force Criminal Intelligence and Investigation Department, Force Headquarters, Abuja.

They were arraigned on a nine charges bordering on conspiracy, obtaining under false pretences and false representation.

The prosecutor had told the court that the accused and others now at large, committed the offences on June 1, at No. 22, Olabisi St., off Association Avenue, Shangisha Lagos.

He said that the accused allegedly defrauded a Bureau De Change Operator, Murtala Usman of N72 million, under the pretext of exchanging the money to 200,000 dollars.

The prosecutor had said that the offences contravened Sections 1 (3) of the Advance Fee Fraud and other Fraud Related offences Act 2006.

Jibrin also said the offences contravened Sections 125 and 385 of Criminal Code Law of the Federation of Nigeria 2004.

All the accused pleaded not guilty to the charge.

The case was adjourned until September 24 for the commencement of trial.

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