The Economic and Financial Crimes Commission, EFCC, has arraigned 38-year-old Raheem Abiodun Wasiu before the Enugu State High Court over an alleged $5,000 fraud involving a Bureau de Change operator.
Wasiu was arraigned before Justice H. O. Eya of the Enugu State High Court on Tuesday, October 6, 2026, on a two-count charge bordering on stealing by conversion and obtaining money by false pretence. He pleaded not guilty to the allegations.
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According to the EFCC, the case arose from an allegation that Wasiu obtained $5,000 from Stanley Chukwuamuanya Ezekulie on July 6, 2026, after allegedly promising to transfer the naira equivalent of the money, put at N7.05 million, to the BDC operator.
The commission said the alleged offence contravenes Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and is punishable under Section 1(3) of the same law.
Following the defendant’s plea, EFCC prosecutor Chief Superintendent Chiekezie Raymond Edozie asked the court to remand Wasiu in the custody of the Nigerian Correctional Service and grant an accelerated hearing.
Defence counsel A. J. Ebube, however, applied orally for bail. The prosecution opposed the application, telling the court that it had information which could influence the court against granting bail.
Justice Eya adjourned the matter to October 28 for hearing of the bail application, while November 3 and 10 were fixed for trial. Wasiu was subsequently remanded in NCoS custody.
The defendant was arrested by operatives of the Nigeria Security and Civil Defence Corps, NSCDC, following a complaint from Ezekulie, who alleged that he had been defrauded of $5,000.
The case follows an earlier investigation into Wasiu’s alleged dealings with BDC operators in the South-East and Akwa Ibom State.
In August, the EFCC said preliminary investigations indicated that the 38-year-old allegedly rented Toyota Hilux trucks, presented himself as a wealthy contractor and moved with escorts while meeting currency dealers.
The commission further alleged that the suspect used fake naira transfer alerts after collecting dollars from BDC operators, creating the impression that the promised payments had been made.
The allegations had previously prompted investigations into claims involving a total of $12,000, with another petitioner alleging that Wasiu obtained $7,000 from him using a similar method.
However, the present court case centres on the alleged $5,000 transaction involving Ezekulie.
The EFCC’s case against Wasiu remains an allegation at this stage. He has pleaded not guilty, and the prosecution will be required to establish its claims before the court before any criminal liability can be determined.
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The next significant step is the October 28 hearing of his bail application, followed by the trial dates fixed for November.
David Okere is a journalist and contributor to Freelanews.com, covering business, governance, public affairs, and human-interest stories with a commitment to accuracy, balance, and public interest reporting.
