The Economic and Financial Crime Commission (EFCC) has charged a suspect identified as Mahmud Abubakar to court in connection to an alleged over N1 billion fraud scheme.
According to the commission, the offence occurred between January and December 2024 when the defendant received a sum of N1.09 billion tied to criminal activities in his Access Bank account.
In count one of the indictment against Mr Abubakar, he was accused of receiving almost N800 million inside his Access Bank account number 0057310017, while count two alleged that over N300 million was transferred by the defendant from the account to one Suleiman Umar.
Mr Abubakar was arranged before Justice N.C. Nwabulu of the Federal High Court, Abuja Division, on Wednesday when he pleaded “not guilty” to the two charges brought against him, prompting the prosecutors to demand a remand while the defense lawyer opposed the prayer.
In her ruling, Ms Nwabulu granted the defendant a bail, with the condition of two sureties, both of whom must be Level 15 civil servants, with one required to be a landed property owner in the federal capital territory.
The judge further ordered that the defendant be remanded in Kuje Correctional Centre in Abuja, pending the fulfilment of the bail conditions while she adjourned the matter till September 30, 2026, for commencement of trial.
The charges against the suspect states, “Count one reads: ‘That you Mahmud A. Abubakar, between January 2024 and December 2024, within the jurisdiction of this Honourable Court did retain control of the proceeds of a criminal conduct totalling N795,360,000 (Seven Hundred and Ninety-five million, Three hundred and Sixty Thousand Naira) in your Access Bank with name Mahmud A. Abubakar and number 0057310017, which sum you knew that the same was derived from criminal conduct and thereby committed an offence contrary to Section 17(a) of the Economic and Financial Crimes Commission (Establishment) Act 2004 and punishable under Section 17(b) of the same Act.’
“Count two reads: ‘That you Mahmud A. Abubakar, between January 2024 and December 2024, within the jurisdiction of this Honourable Court did transfer proceeds of a criminal conduct totalling N303,616,008 (Three Hundred and Three Million, Six Hundred and Sixteen Thousand Eight Naira) from your Access Bank with name Mahmud A. Abubakar and number 0057310017, to one Suleiman Umar which sum you knew that the same was derived from criminal conduct and thereby committed an offence contrary to Section 17(a) of the Economic and Financial Crimes Commission (Establishment) Act 2004 and punishable under Section 17(b) of the same Act.’”