N2.5M Fraud: EFCC secures conviction of Mustapha Babangida

The Economic and Financial Crimes Commission, EFCC on January 7, 2019 secured the conviction of Mustapha Babangida for a one-count charge bordering on criminal breach of trust to the tune of N2.5 million.

Babangida was brought before Justice Ibrahim Karaye of the Kano State High Court for defrauding Obi Bartholomew, in a fraudulent business deal involving the importation of drugs from Turkey into Nigeria.

The petitioner alleged that sometime in May 2018, Babangida presented himself to him as a businessman who deals in the importation of drugs from Turkey.

Bartholomew, convinced about the deal, subsequently invested N2 million, having been promised a mouth-watering interest of N500, 000. 

Afterwards, Babangida approached him for an additional N150, 000 “to clear the goods”. 

Bartholomew alleged that the accused person issued him two cheques of N2.5 million and N150, 000 dated May 19 and 22, 2018, which turned out to be dud cheques as they were returned unpaid, due to insufficient funds in the account.

He pleaded “guilty” to the charge when it was read to him.

READ: Saudi woman Rahaf al-Qunun ends airport hotel standoff

In view of his plea, prosecuting counsel, Michael Ojo, prayed the court to convict and sentence him accordingly.

Defence counsel, Sani Amani, however, notified the court that Babangida had paid the entire sum in question, which was acknowledged by the nominal complainant and the EFCC.

Justice Karaye, thereafter convicted him and sentenced him to six months in prison with an option of N250, 000 as fine.