Home NIGERIA NEWS Ex-bank director arraigned for $360,000 land sale fraud

Ex-bank director arraigned for $360,000 land sale fraud

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A former Executive Director of Aso Savings and Loans Plc, Maimuna Aliyu, has been dragged before Justice Dimgba of the Federal High Court 10 sitting in Abuja for allegedly converting the sum of $360,000, which was paid in December 2012 for three plots of land in the Cadastral area of Abuja to his personal use.

The accused is being prosecuted by the Independent Corrupt Practices and Other Related Offences Commission for diverting the amount instead of remitting it to the bank.

In the one count, Aliyu was accused of receiving the money for the sale of the said plots of land while acting as an executive director of the bank. At the time the offence was committed, the money had a naira equivalent of N57m.

The ICPC said the offence was contrary to Section 22 (1) (a) and punishable under Section 30 (2) (1) (a) of the Foreign Exchange Monitoring and Miscellaneous Provisions Act Cap, F34, Laws of the Federation, 2004.

The charge read in part, “That you, Maimuna Aliyu, sometime in December 2012 or thereabout at Abuja, being the Executive Director (Retail) of Aso Savings and Loans Plc, Abuja, at the time, did accept the sum of $360,000, the equivalent of N57m (at the time) in cash, being the amount for the sale of Plots 2432, 2433 and 2434, all in the Cadastral Zone B08, Jaji District, Abuja, from one Babagana Bashir on behalf of Vincent Msheli.”

When the charge was read to her, the accused pleaded not guilty and her lawyer, Mrs R. Okotie-Eboh, prayed the court to grant her bail in liberal terms.

Although the counsel for the ICPC, Ekoi Akponimisingha, did not object to the application, he, however, appealed to the court to make her bail conditions stringent in order to ensure compliance.

Justice Dimgba granted the accused bail in the sum of N5m with one surety in like sum, who must be a civil servant not below Grade Level 14 or if a businessman, must possess properties within the jurisdiction of the court.

The bail conditions also include submission of her passport to the court.

The judge ruled that Aliyu should be remanded in the Suleja Prison if she failed to meet the bail conditions after 36 hours.

The case was adjourned till February 6, 2019, for further hearing.

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