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Court remands banker over N100 Million Scam

By Olawale Oyegbade, The Nigerian Voice, Abeokuta
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A Federal High Court in Port Harcourt, Rivers State today remanded a banker, Belema Abibo over alleged N100 Million Scam.

The Economic and Financial Crimes Commission, EFCC arraigned the accused person before Justice Abubakar.

EFCC spokesman, Dele Oyewale told The Nigerian Voice that the suspect was arrested when a case of obtaining by false pretences (OBT) and fraudulent diversion of funds was raised by a petitioner

According to him "the petitioner said sometimes in 2016, some representatives of Cosmopolitan micro finance bank approached and persuaded him to deposit funds in the bank as a fixed deposit, with a promise of monthly interest of two per cent (2%), after a tenor of 360 days."

"The petitioner alleged that he deposited and fixed the sum of One Hundred Million Naira (N100, 000,000.00) in the bank, and upon maturity, the bank refused to refund the capital and the accrued interest, to him, adding that the bank representatives suddenly became elusive."

"Further investigations also showed that the money was transferred into an account number 0565583030, belonging to Cosmopolitan Micro finance bank, domiciled in FCMB."

Prosecuting counsel, C. O. Oni told the court that the offence committed by the accused person was contrary to Section 1 (1) of the Advance Fee Fraud and Other Related Offences Act 2006, and punishable under Section 1 (3) of the same Act.

After the charge was read to the defendants, they pleaded not guilty. Thereafter, Oni prayed the court to fix a date for commencement of trial.

Counsel to the accused person, E. K Krokeyi, sought a short adjournment to enable him file an application for the bail of the first defendant.

The judge ordered that Abibo be remanded in EFCC custody and adjourned the case to 11th of June, 2020.