EFCC Arraigns Four for ₦197.7M Fraud, Money Laundering

The Economic and Financial Crimes Commission (EFCC) has arraigned four individuals—Baba Sule Abubakar Sadiq, his wife Hafsat Kabir Lawal, Abdullahi Bala, and Ladani Akindele—on charges of obtaining money by false pretenses, money laundering, and theft amounting to ₦197,750,000....CONTINUE READING>>>

The suspects appeared before Justice Amina Bello at the Kaduna State High Court, where the EFCC accused them of conspiring to defraud victims by impersonating the wife of Katsina State Governor, Fatima Dikko Radda. They allegedly tricked victims into transferring large sums of money under the guise of foreign currency exchange.

One of the charges stated that in December 2024, they obtained ₦89,000,000 from Aminu Usman by falsely claiming to have $53,300 available for exchange. The money was sent to a Taj Bank account owned by Abdullahi Bala.

Initially arrested by the Department of State Services (DSS), the suspects were later transferred to the EFCC for prosecution.

During their court appearance, all four defendants pleaded not guilty. The prosecution opposed bail, calling it premature. Justice Bello ordered their remand in a correctional facility and set March 17, 2025, for the bail hearing.

This case highlights Nigeria’s continued crackdown on financial crimes and fraudulent activities.