EFCC Arraigns Businessman For Alleged 105m Fraud
By Naomisophyblog
The Economic and Financial Crimes Commission (EFCC) on Monday arraigned a businessman, Muhammad Lamido, before the Lagos Special Offences Court in Ikeja for alleged N105 million fraud.
The EFCC charged the defendant and his company, Aliqea Group UAE, with four counts of conspiracy, obtaining by pretence, and money laundering.
R. A. Abdulrasheed, the prosecution’s counsel, told the court that the defendants committed the crimes on July 19, 2023.
According to Abdulrasheed, the defendant plotted to defraud First Right Enterprises of N105 million.
He said the defendant fraudulently claimed to have the dollar equivalent of the amount to change for the business.
The anti-graft agency also charged the defendant and his company with money laundering and attempting to conceal N130,200,000 and N173 million, respectively.
The defendant, on the other hand, pleaded not guilty to the counts levelled against him.
Following the defendant’s plea, his counsel, Emmanuel Ogbeche, pleaded with the court not to keep Lamido in EFCC custody.
Abdulrasheed asked the court to deny the bail application.
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He said, “The defendant may not appear in court again regardless of the subject of the health of the defendant as stated by the prosecution.”
