Jubril Haruna Faces Court Over N420.9m Forex Fraud
Jubril Haruna was arraigned before Justice Ibrahim Kala at the Federal High Court in Lagos on charges related to an alleged N420.9 million foreign exchange fraud. The Police Special Fraud Unit (PSFU) charged him with five counts, including conspiracy, obtaining money by false pretence, unlawful conversion, and money laundering.
The prosecution, led by Chief Superintendent of Police Momoh Yakubu, claimed that Haruna and accomplices obtained the funds from Usman Aliu under false pretenses, promising to exchange it for US dollars. Instead, Haruna allegedly misused the money for personal benefit.
The funds were reportedly transferred into a corporate account at Polaris Bank, linked to SJ Mamesara Solution Limited, and were concealed through various accounts, including those at Union Bank Plc and Providus Bank. Haruna pleaded not guilty, and while his bail application was opposed, Justice Kala granted bail at N100 million with conditions.
The case is adjourned until October 28, with Haruna remanded in custody until bail conditions are met.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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