Enugu: EFCC arraigns forex broker for alleged N112m fraud

The Enugu Zonal Command of the Economic and Financial Crimes Commission (EFCC) has arraigned one Daniel Chukwuka Koussou, a forex broker before Justice C. O. Ajah of the State High Court sitting in Independence Layout, Enugu State.

This was disclosed in a statement on the commission’s X official handle.

According to the statement, he was arraigned on a one-count charge bordering on criminal conversion and stealing to the tune of N112,800,800.00.

The lone count charge reads; “That you, Daniel Chuwuka Koussou sometime in July 2022, in Enugu, Enugu State within the jurisdiction of this Honourable Court did commit a felony to wit: stealing by fraudulently converting to your own use the sum of N112,800,800.00 (one hundred and twelve million, eight hundred thousand, eight hundred naira), property of Chinedu Igbokwe and thereby committed an offence”.

The offence is contrary to Section 342 of the Criminal Code Law, Cap 30 of the Laws of Enugu State and punishable under Section 353 (1) of the same Law.

The defendant pleaded not guilty when the charge was read to him.

Given his plea, counsel to the EFCC, Ahmad Yusuf Abdullahi prayed the court for a trial date and for the defendant to be remanded at Enugu State Correctional facility.

However, the defence counsel, Ogechukwu Agbo informed the court about a motion on notice for bail for her client. Abdullahi vehemently opposed the said application on the grounds that “the defendant might jump bail considering the weight of the allegation my lord”.

After listening to both sides, Justice Ajah granted bail to the defendant in the sum of N50,000,000.00 (Fifty Million Naira) and two sureties in like sum. The sureties must be residents within the jurisdiction. They must swear an affidavit of means, show evidence of tax payment for the past three years, deposit two full size photographs, be public servants of not less than Grade Level 16 and they must be verified in writing by the prosecution.

The defendant was remanded at the Enugu State Correctional facility pending the fulfilment of the bail conditions.

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Koussou was arrested following claims of a petitioner who alleged that he sent $276,000 to the defendant, a supposed agent for Providus Bank, to convert into naira and return the same.

According to the petitioner, on July 6, 2022, Providus Bank paid Koussou the full money in Naira but the defendant sent a part-payment of N21,759,771 to him (the petitioner) and diverted the rest for his personal use. All efforts made to get him to pay up proved abortive.