The Economic and Financial Crimes Commission Lagos Command on Wednesday arraigned one Abdulhamid Isah before an Ikeja High Court in Lagos State over alleged $63,599 fraud.
Isah is facing three counts bordering on obtaining money by false pretences, stealing and retaining proceeds of a criminal conduct.
NAN also reports that the defendant, arraigned before Justice Ismail Ijelu, however, pleaded not guilty to all the counts.
The EFCC Prosecutor, Nwandu Ukoha, told the court that the defendant had, sometime in October 2022, obtained $63,590 by false pretences.
Ukoha said that the defendant also stole the said amount belonging to one Chinedu Ugokwe.
He informed the court that the money was given to Isah, with the intention to exchange same to the naira equivalent but which the defendant failed to do.
The prosecutor stated further that the defendant also retained the said amount, suspected to be proceeds of a criminal conduct.
According to him, the offences contravene Section 1(1)(2) and (3) of Advance Fee Fraud and other Fraud Related Offences Act No. 14 of 2006.
He said that the offences also contravened Sections 278(1) (b), (2)(1) and 285(1) of the Criminal Law of Lagos State No. 11 of 2011 and Section 17 of the Economic and Financial Crimes Commission (Establishment) Act, 2004.
Ukoha urged the court to remand the defendant accordingly, pending the commencement of trial.
He also said that the bail application of the defence counsel should be at the discretion of the court.
The Defence Counsel, Emmanuel Ogbeche, moved a bail application, praying the court to grant the application and requesting that the defendant be remanded in EFCC custody.
Consequently, the judge granted the defendant bail in the sum of N5 million, with two sureties in like sum.
Ijelu said that one of sureties must be related to the defendant by blood and must reside in Lagos.
He also said that the sureties must present evidence of a reliable source of livelihood and that the defendant be produced at every trial date.
The judge then ordered the remand of the defendant in Ikoyi Correctional Centre, pending the perfection of his bail.
He, thereafter, adjourned the matter till February 1, 2024 for trial.