EFCC arraigns businesswoman for alleged forex fraud in Lagos
The Financial and Monetary Crimes Commission (EFCC) has arraigned a businesswoman, Adekemi Folorunsho, earlier than a Lagos Particular Offences Court docket in Ikeja, for allegedly defrauding $700,000 and stealing N190 million below the guise of running a bureau de change.
Folorunsho became arraigned on a three-count value bordering on acquiring money by faux pretence, conspiracy to blueprint money by pretence, and stealing.
She became arraigned alongside three accomplices who are unruffled at vast.
The EFCC counsel, Nanbam Mutfwang, suggested the court docket that the defendant, with others now at vast, fraudulently obtained $700,000 from Mrs. Osolake Ayodele in 2023 by falsely presenting herself as a foreign change broker.
She allegedly claimed she would possibly perchance perchance convert the greenbacks to naira, an assertion the prosecution mentioned she knew to be faux.
The defendant became additionally accused of dishonestly changing N190 million belonging to the complainant for her non-public expend in October 2021.
In step with the EFCC, the alleged offences contravene Sections 1(3) and eight(a) of the Come Price Fraud and Diversified Fraud Connected Offences Act and Share 285(1) of the Criminal Regulations of Lagos Voice, 2011.
Folorunsho denied the allegation, pleaded no longer responsible to all three-count value.
Following her plea, her counsel, Mr. Shina Makinde, moved a circulation for bail, urging the court docket to grant it on liberal terms. He argued that his client is a legitimate businesswoman who employs over 100 workers and has constantly complied with the administrative bail earlier granted by the EFCC.
“My Lord, the defendant is ready to face trial and has no blueprint of jumping bail,” Makinde submitted.
The prosecution didn't oppose the bail software, leaving it at the court docket’s discretion.
In her ruling, Justice Olubunmi Abike-Fadipe granted bail to the defendant within the sum of N50 million, with two sureties in adore sum.
She ordered that the bail stipulations ought to unruffled be perfected inner two weeks, failing which the defendant would possibly perchance perchance be remanded in custody and the trial would possibly perchance perchance be adjourned to October 9, 2025.
