2 Men In Court Over N9.68bn Bank Fraud

Two men, Ugwu Peter, 36, and Itodo Friday, 41, appeared before an Abakaliki Chief Magistrates’ Court on Thursday for allegedly defrauding a company of N9.68 billion.

The duo, whose residential addresses were not provided, are standing trial on a seven-count charge bordering on conspiracy and advanced fee fraud.

The court did not take the defendants’ pleas when the matter was presented.
The prosecutor, ASP Lilian Aliede, told the court that the defendants committed the offences on May 12, 2024, at Hope Payment Service Bank Server in Abakaliki, the capital of Ebonyi State.

Aliede alleged that on the date above, the defendants obtained the sum of N204,000 from Hope Payment Service Bank Server with the intent to defraud.

She also alleged that the defendants obtained the sums of N54.1 million and N1 billion, respectively from the same source on May 13, 2024, and May 15 of the same year, intending to defraud.

“Also on June 28, 2024, they, with an intent to defraud, obtained the sum of N2.26 billion, also from Hope Payment Service Bank Serve.

“On July 15, 2024, and July 24, the same year, they also, with intent to defraud, obtained the sum of N5 billion and N1billion respectively from the same source,” the prosecutor said.

Aliede noted that the defendants committed an offence punishable under section 1 (3) of the Advance Fee Fraud and Other Fraud-Related Offences Act 2006, Laws of the Federation of Nigeria.
Defence Counsel D. I. Njoku made a bail application for the defendants.

The Chief Magistrate, Mrs Linda Ogodo, rejected the defendants’ bail application.
She ordered that they be remanded in the Federal Correctional Centre, Abakaliki.

The magistrate noted that the court lacked jurisdiction to handle the matter.

She directed that the case files be forwarded to the Directorate of Public Prosecutions for legal advice. She, therefore, adjourned the matter until July 11. (NAN)