The Economic and Financial Crimes Commission (EFCC) has arraigned a Bureau de Change operator, Husaini Mohammed Auwal, before the Federal High Court in Abuja for alleged illegal financial transactions to the tune of N998,421,564.00
Auwal was arraigned alongside his company, Humak Global Business Links, before the court on Monday, February 19, 2024, on a six-count charge bordering on Suspicious Transaction Report (STR) of criminal conspiracy, money laundering, and obtaining money by false pretence.
One of the 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, did carry 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 bureau de change operator, however, pleaded “not guilty” to all the charges when they were read to him.
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Following his guilty plea, the prosecution counsel, Deborah Ademu Eteh, asked the court for a trial date and for the defendant to be remanded in a correctional facility.
The defence counsel, however, called the attention of the court to an existing bail application and prayed the court to grant the defendant bail on liberal terms.
The presiding judge, Justice J.O Abdulmalik, therefore, adjourned the matter till February 23 for the hearing of bail application and March 21, 2024, for trial.
Justice Abdulmalik also ordered that the defendant be remanded in EFCC`s custody until the adjourned date.
The EFCC noted that Auwal was arrested by the anti-graft agency following intelligence received by the commission on April 28, 2022, from the Nigeria Financial Intelligence Unit (NFIU) which showed that the defendant was allegedly receiving huge wire transfers from diverse entities through his company`s account and would promptly transfer such funds to various accounts, violating the daily transfer threshold.
It said the defendant was also allegedly operating a bureau de change without an appropriate licence.
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