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Abdulsalam Abubakar’s petition sends bureau-de-change operator to prison

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Tiamiyu Saheed Oluwatosin
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calendar-icon Posted on: 2020-05-20 22:18:55
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A petition by a citizen, Abdulsalam Danlami Abubakar, has sent one Sadiq Mustapha to a seven-year prison term without option of fine.

Mustapha was first arraigned on December 2, 2019 on a two-count charge, bordering on obtaining money by false pretence and operating a bureau de change without authorisation by the Central Bank of Nigeria, CBN.

The Economic and Financial Crimes Commission, EFCC, Kaduna Zonal Office secured the conviction on Wednesday.

One of the counts read: “That you Sadiq Mustapha while being the Chairman/Chief Executive Officer of your company, called Abueleven Limited, sometime in 2016, at Kaduna within the judicial division of the Federal High Court of Kaduna, without appropriate licence from the Central Bank of Nigeria, CBN, and with intent to defraud, obtained from one Abdulsalam Danlami Abubakar, the total sum of N6.1m through your company account called Abueleven Limited with account number 4010185189, domiciled at Fidelity Bank Plc for changing the money to $20,000 at the rate of N305 per dollar, which you knew all to be false and thereby committed an offence contrary to Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offence Act 2006.”

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The convict pleaded not guilty to charges.

EFCC spokesman, Dele Oyewale, said the prosecution counsel presented two witnesses and tendered various exhibits.

Justice Mallong, apart from the sentence, ordered the convict to make a N100,000 restitution to the complainant, having earlier refunded the sum of N6,000,000 (Six Million Naira) to him.

Mallong also further ordered Mustapha to pay an additional N100,000 fine to the Federal Government of Nigeria on count-two of the charge.

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