The Special Offences Court sitting in Ikeja, Lagos, has dismissed the no-case submissions filed by Alhaji Usman Abubakar and Young Alhaji Foundation in an alleged N950 million foreign exchange fraud case instituted by the Economic and Financial Crimes Commission.
Justice Mojisola Dada held that the prosecution had established a prima facie case against the defendants and ordered them to enter their defence.
Abubakar and Young Alhaji Foundation are standing trial on a five-count charge bordering on obtaining money by false pretence and stealing the sum of N950 million belonging to Ano Farms Limited.
The defendants had filed no-case submissions, asking the court to hold that the prosecution had failed to establish a case requiring them to open their defence.
However, EFCC counsel, Bilkisu Buhari-Bala, opposed the applications and urged the court to dismiss them, arguing that the prosecution had led sufficient oral and documentary evidence linking the defendants to the alleged offences.
Buhari-Bala told the court that the EFCC received a petition dated September 23, 2022, from Prag Attorneys and Consultants on behalf of Ano Farms Limited, alleging that the defendants fraudulently obtained N950 million from the company under the pretext of facilitating a foreign exchange transaction.
According to the prosecution, Ano Farms Limited required foreign exchange to import agricultural commodities and was introduced to one Dr. Abu Omer Fawzi, a Lebanese national, for the purchase of $1.25 million at an agreed exchange rate of N760 to one dollar.
The court was told that Dr. Fawzi allegedly instructed Ano Farms Limited to transfer the naira equivalent of N950 million into the First Bank account of Young Alhaji Foundation.
The prosecution said the money was successfully transferred, but the agreed foreign exchange was never delivered.
Buhari-Bala submitted that WhatsApp conversations tendered before the court showed communications between Ano Farms and Dr. Fawzi regarding the transaction, while bank documents admitted in evidence confirmed that the N950 million was credited to the account of Young Alhaji Foundation despite the defendants’ denial.
The EFCC further alleged that rather than provide the agreed foreign exchange, the defendants attempted to withdraw the funds even after the account had been placed under a court-ordered restriction.
The prosecution also argued that the defendants gave inconsistent explanations regarding the ownership and source of the N950 million.
According to the EFCC, while the first defendant denied knowledge of the transfer, he also claimed entitlement to the funds as part payment of an alleged debt owed to him.
Buhari-Bala maintained that the contradictory explanations, together with the testimony of five prosecution witnesses and several documentary exhibits, established a prima facie case against the defendants.
In her ruling, Justice Dada agreed with the prosecution and held that the evidence before the court was sufficient to require the defendants to respond to the allegations.
The court consequently dismissed the no-case submissions and ordered Alhaji Usman Abubakar and Young Alhaji Foundation to open their defence.
The case arose from a September 2022 transaction in which Ano Farms Limited allegedly transferred N950 million into the account of Young Alhaji Foundation in expectation of receiving $1.25 million for the importation of agricultural commodities.
Earlier in the trial, the first prosecution witness, Mr. Adeniyi Oyewole, Managing Director of Ano Farms Limited, testified that despite making the payment, the promised foreign exchange was not supplied.
Oyewole also told the court that when efforts were made to recall the funds, the recipient claimed the payment was connected to the purchase of property, an assertion he denied.
He further testified that Abubakar later claimed the money represented part payment of a $12 million debt allegedly owed to him by another party, despite initially denying knowledge of the transaction.
Following unsuccessful efforts to recover the funds, Ano Farms Limited petitioned the EFCC, leading to investigation and the filing of criminal charges against the defendants.
The matter has now moved to the defence stage, with the defendants expected to present evidence in response to the prosecution’s case.
The defendants are presumed innocent until proven guilty.
The post “Prima Facie Case Established” — Court Rejects No-Case Submission, Orders Usman Abubakar, Foundation To Defend Alleged N950m Forex Fraud Charge appeared first on TheNigeriaLawyer.
