Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, has adjourned the trial of Alhaji Usman Abubakar and Young Alhaji Foundation over an alleged N950 million forex fraud until October 28, 2024.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Abubakar and the foundation on a five-count charge of obtaining money by false pretenses and stealing N950 million. The charges include a conspiracy with Dr. Abu Omer Fawaz (currently at large) to obtain N950 million from Ano Farms Limited in September 2022 by falsely claiming to have the dollar equivalent of the sum.
Another charge accuses Abubakar and Young Alhaji Foundation of attempting to dishonestly convert N180 million belonging to Ano Farms Limited for Abdullahi Mohammed’s use on September 20, 2022. Abubakar pleaded not guilty to all charges during his arraignment on February 22, 2023.
In Monday’s proceedings, the first prosecution witness, Niyi Oyewole, Managing Director of Ano Farms Limited, was cross-examined by the second defendant’s counsel, G. C. Ugwunweze. Oyewole reiterated his earlier testimony that Fawaz connected him with the defendant, leading to the transfer of the funds. When the dollar equivalent was not provided, Fawaz informed him that Young Alhaji had been instructed to return the money.
Ugwunweze presented documents related to a similar case at the Lagos State High Court in Ajah and a letter containing payment instructions to the bank. These documents were admitted as exhibits P4, P5, and P6.
Justice Dada adjourned the case to October 28 and 29, 2024, for the continuation of the trial.
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