On Monday, Husaini Mohammed Auwal, a bureau de change operator, and Humak Global Business, his firm, were charged by the Economic and Financial Crimes Commission (EFCC) with N998.4 million worth of fraudulent conduct.
Before Justice J.O. Abdulmalik of the Federal High Court, Abuja, Mr. Auwal was on trial for alleged unlawful financial transactions, totaling N998,421,564.00.
A six-count accusation against the Bureau de Change operator and his firm was filed following a suspicious transaction report (STR) allegation of money laundering, criminal conspiracy, and collecting money under false pretences.
The count charges read: “That you Husaini Mohammed Auwal, being the managing director of Humak Global Business Link on or between 2016 and 2017 in Abuja, within the jurisdiction of this honourable court, carried on other financial business, to wit: bureau de change business, without a valid licence issued by the Central Bank of Nigeria, contrary to sections 57 and 59 (5) of the Banks and other Financial Institutions Act, 2020.”
The second count two charge reads: “That you Husaini Mohammed Auwal, being the managing director of Humak Global Business Link and Humak Global Business Link on or about August 10, 2020, in Abuja, within the jurisdiction of this honourable court, received a total inflow of N47,250,000 from Khadab Ventures and Trust Limited into the Humak Global Business Link account, domiciled in First City Monument Bank with account number 4497159015, in excess of N10,000,000.00 of which you failed to make a report to the Nigerian Financial Intelligence Unit (NFIU) and thereby commit an offence contrary to Sections 11 (1) and (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
The prosecution’s counsel, Deborah Ademu Eteh, requested a trial date and the defendant’s detention in a correctional facility after the defendant entered a plea of “not guilty” to all of the allegations after they were read to him.
Nonetheless, the defence counsel drew the court’s attention to a previous bail request and asked that the prisoner be granted liberal bail.
However, the case has been postponed until March 21, 2024 for the trial and February 23, 2024 for a hearing on the bail application, according to Justice Abdulmalik. In addition, she gave an order for the defendant to be held in the EFCC’s custody until the postponed date.
Related Posts
- Cybercrime: EFCC Apprehends 40 Suspects in Abuja, Keffi
- EFCC Arraigns Alleged Onitsha Market Leader for N6.7m Fraud
- NIS Commends EFCC, Calls for Stronger Collaboration
According to a post shared on the EFCC X handle, Auwal was arrested by the operatives of the EFCC following intelligence gathered from the Nigeria Financial Intelligence Unit (NFIU) on April 28, 2022, which proves that the defendant was allegedly receiving huge wire transfers from diverse entities through his company’s account.
It was noted that immediately after Mr. Auwal received money from various entities, the money would be transferred to various accounts, violating the daily transfer limit.
