The Ilorin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has secured the conviction of Abubakar Suleiman, a 51-year-old from Burya village, Baruten Local Government Area, Kwara State, for operating an unlicensed Bureau De Change (BDC) business.
Additionally, the EFCC secured the conviction of Lawal Farauq from Offa Local Government Area for cybercrime-related offences.
Justice Abimbola Awogboro of the Federal High Court, Ilorin, sentenced both individuals after finding merit in the prosecution’s cases.
Details of Charges and Sentencing
Abubakar Suleiman (Unlicensed Bureau De Change Operator)
The EFCC charged Abubakar for running a BDC without a valid license from the Central Bank of Nigeria (CBN), contrary to Section 57(5) of the Bank and Other Financial Institutions Act, 2020.
Upon pleading guilty, the court sentenced him to:
- 300 hours of community service (5 hours per day).
- Final forfeiture of:
- CFA 3,360,000
- ₦220,000
- ₦71,000 (counterfeit notes)
- To the Federal Government.
Lawal Farauq (Cybercrime Convict)
The EFCC charged Lawal for fraudulently impersonating one Johanna Smith on iMessenger to scam a victim, Mark Dewitt, of $70, contrary to Section 22(2) of the Cybercrime (Prohibition Prevention) Act, 2015.
Upon pleading guilty, the court sentenced him to:
- 200 hours of community service (5 hours per day).
- Forfeiture of:
- iPhone 6s Plus (used in the crime).
- $70 (fraudulently obtained).
EFCC’s Evidence and Court Decision
EFCC prosecutors, Aliyu Adebayo and Andrew Akoja, presented evidence, including:
- Extra-judicial statements of the convicts.
- Monetary exhibits recovered at the time of their arrests.
Satisfied with the prosecution’s case, Justice Awogboro ruled in favor of the EFCC, issuing convictions and sentencing both individuals.
Implications
This ruling highlights the EFCC’s continued crackdown on financial crimes in Nigeria, reinforcing strict regulations against:
- Unlicensed Bureau De Change operations.
- Online fraud and cybercrime.
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