EFCC Arraigns Woman For N240.5m Forex Fraud In Abuja

The Economic and Financial Crimes Commission (EFCC), on Thursday, October 2, 2025, arraigned one Ene Queen Bamaiyi before Justice A.A. Halilu of the Federal Capital Territory (FCT) High Court, Apo, Abuja, on a one-count charge of criminal breach of trust to the tune of N240,500,000.

According to a statement posted on EFCC’s verified Facebook page, Bamaiyi was alleged to have dishonestly converted to personal use, the sum of N124,000,000 out of the sum of N240,500,000, entrusted to her by one Bright Okubo for foreign exchange conversion.

The charge read: “That you, Ene Queen Bamayi (female), sometime in May 2024 in Abuja within the Judicial Division of this Honourable Court, while being entrusted with the sum of N240,500,000.00 (Two Hundred and Forty Million, Five Hundred Thousand Naira) by one Bright Okubo for conversion at dollar equivalent, did dishonestly convert N124,000,000.00 (One Hundred and Twenty-Four Million Naira) out of the said sum to your personal use in violation of the purpose for which the money was entrusted with you, and you thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Code.”

She pleaded “not guilty” to the charge, following which the prosecution counsel, Joshua Saidi, requested a trial date and informed the court of his intention to invite five witnesses to prove the case, while the defence counsel, M.A. Attah, SAN, prayed the court to grant his client bail on self-recognition and on liberal terms, citing her status as a single mother of a two-year-old child.

Justice Halilu, after considering the submissions, granted the defendant bail in the sum of N30,000,000 with two reliable sureties in like sum, who are not below Grade Level 14 in the civil service. He further ordered that the defendant deposited her passport with the EFCC and be remanded in Suleja Correctional Centre, pending the fulfilment of her bail conditions.

The case was adjourned till December 2 and 3, 2025, for trial.