The Economic and Financial Crimes Commission, EFCC, Port-
Harcourt’s Zonal office on Thursday arraigned a spurious Managing
Director of a microfinance bank, Belema Abibo and Cosmopolitan
microfinance bank Limited, before Justice M. L Abubakar of the
Federal High Court sitting in Port Harcourt, Rivers State, on two
count-charges bordering on obtaining money by false pretences to
the tune of N100 million.
The suspects were arrested when a case of Obtaining by False
Pretences, OBT, and fraudulent diversion of funds was raised
against them by a petitioner.
According to the petitioner, sometimes in 2016, some
representatives of Cosmopolitan microfinance bank approached and
persuaded him to deposit funds in the bank as a fixed deposit, with
a promise of monthly interest of two per cent (2%), after a tenor
of 360 days.
The petitioner alleged that he deposited and fixed the sum of
One Hundred Million Naira (N100, 000,000.00) in the bank, and upon
maturity, the bank refused to refund neither the capital nor the
accrued interest, to him, adding that the bank representatives
suddenly became elusive.
EFCC’s investigation showed that the first defendant, Abibo, a
native of Okrika in Okrika Local Government Area, of Rivers State,
is a Managing Director of Cosmopolitan micro-finance bank Limited
and that the victim actually invested a sum of One Hundred Million
Naira (N100,000,000.00) in a fixed deposit in the bank.
Further investigations also showed that the money was
transferred into an account number 0565583030, belonging to
Cosmopolitan micro finance bank, domiciled in FCMB.
The offence is contrary to Section 1 (1) of the Advance Fee
Fraud and Other Related Offences Act 2006, and punishable under
Section 1 (3) of the same Act.
One of the counts read: “That you Belema Abibo and Cosmopolitan
Micro finance Bank Limited, sometime in 2016 at Port Harcourt,
Rivers State, within the jurisdiction of this honourable court with
intent to defraud did induce and obtain the sum of One Hundred
Million Naira only (N100,000,000.00) from Olusegun Akingbesote and
Alpha Integrated Services Limited on the pretext of keeping a fixed
deposit account on a monthly interest of 2% after each tenor of 360
days, a pretext which you knew to be false and thereby committed an
offence contrary to Section 1 (1) of the Advance Fee Fraud and
Other Related offences Act 2006 and punishable under Section 1 (3)
of the same Act”.
After the charge was read to the defendants, they pleaded not
guilty.
Prosecuting counsel, C. O. Oni, in view of the plea of the
defendants, prayed the court to fix a date for commencement of
trial.
In the same vein, counsel to the defendants, E. K Krokeyi, asked
the court for a short adjournment to enable him file an application
for the bail of the first defendant.
Justice Abubakar, however, ordered that the first defendant be
remanded in EFCC custody and adjourned to June 11, 2020, for
consideration of the bail application.
The Economic and Financial Crimes Commission, EFCC, Port-
Harcourt’s Zonal office on Thursday arraigned a spurious Managing
Director of a microfinance bank, Belema Abibo and Cosmopolitan
microfinance bank Limited, before Justice M. L Abubakar of the
Federal High Court sitting in Port Harcourt, Rivers State, on two
count-charges bordering on obtaining money by false pretences to
the tune of N100 million.
The suspects were arrested when a case of Obtaining by False
Pretences, OBT, and fraudulent diversion of funds was raised
against them by a petitioner.
According to the petitioner, sometimes in 2016, some
representatives of Cosmopolitan microfinance bank approached and
persuaded him to deposit funds in the bank as a fixed deposit, with
a promise of monthly interest of two per cent (2%), after a tenor
of 360 days.
The petitioner alleged that he deposited and fixed the sum of
One Hundred Million Naira (N100, 000,000.00) in the bank, and upon
maturity, the bank refused to refund neither the capital nor the
accrued interest, to him, adding that the bank representatives
suddenly became elusive.
EFCC’s investigation showed that the first defendant, Abibo, a
native of Okrika in Okrika Local Government Area, of Rivers State,
is a Managing Director of Cosmopolitan micro-finance bank Limited
and that the victim actually invested a sum of One Hundred Million
Naira (N100,000,000.00) in a fixed deposit in the bank.
Further investigations also showed that the money was
transferred into an account number 0565583030, belonging to
Cosmopolitan micro finance bank, domiciled in FCMB.
The offence is contrary to Section 1 (1) of the Advance Fee
Fraud and Other Related Offences Act 2006, and punishable under
Section 1 (3) of the same Act.
One of the counts read: “That you Belema Abibo and Cosmopolitan
Micro finance Bank Limited, sometime in 2016 at Port Harcourt,
Rivers State, within the jurisdiction of this honourable court with
intent to defraud did induce and obtain the sum of One Hundred
Million Naira only (N100,000,000.00) from Olusegun Akingbesote and
Alpha Integrated Services Limited on the pretext of keeping a fixed
deposit account on a monthly interest of 2% after each tenor of 360
days, a pretext which you knew to be false and thereby committed an
offence contrary to Section 1 (1) of the Advance Fee Fraud and
Other Related offences Act 2006 and punishable under Section 1 (3)
of the same Act”.
After the charge was read to the defendants, they pleaded not
guilty.
Prosecuting counsel, C. O. Oni, in view of the plea of the
defendants, prayed the court to fix a date for commencement of
trial.
In the same vein, counsel to the defendants, E. K Krokeyi, asked
the court for a short adjournment to enable him file an application
for the bail of the first defendant.
Justice Abubakar, however, ordered that the first defendant be
remanded in EFCC custody and adjourned to June 11, 2020, for
consideration of the bail application.