Business man on trial over alleged N266 million bank fraud

A businessman named Nuhu Yusuf is alleged to have defrauded the former Intercontinental now Access bank of N266 million...

Businessman docked for allegedly defrauding bank of N266m 

A 65-year-old man, Nuhu Yusuf, on Wednesday appeared before a Lagos High Court in Ikeja for allegedly defrauding Intercontinental Bank Plc (now Access Bank Plc) of N266 million in 2006.

Yusuf, a businessman, who resides at No. 67, Oyedele Oguniyi Close, Anthony Village, Lagos, appeared before Justice Adeniyi Onigbanjo.

The defendant, who was charged to court by the Economic and Financial Crimes Commission (EFCC), is facing 10 counts of stealing.

Counsel to the EFCC, Mrs Diane Labar, alleged that Yusuf had, between July and December 2006, in Lagos, obtained the money from the bank in a series of fraudulent transactions.

Labar said the offence contravened Section 390 (1) of the Criminal Code, Laws of Lagos State, 2003.
Yusuf, however, pleaded not guilty to the charge.

The judge ordered the defendant to be remanded in Ikoyi Prison pending the hearing of his bail application fixed for Jan. 21.

Source: NAN