Mustapha is charged by the Economic and Financial Crimes Commission on 14 counts bordering on fraud, money laundering and operation of a foreign exchange business without authorisation by the Central Bank of Nigeria.He pleaded not guilty to the charge and was granted bail in the sum of N100 million with one surety in the like sum.The News Agency of Nigeria reports that Justice Mohammed Liman had on Oct. 14, adjourned the case for ruling after submissions by prosecution and defence.
In his response, EFCC counsel, Mr Suleiman Suleiman, asked the court to determine whether the evidence adduced by prosecution sufficiently linked the defendant to the offences to warrant him to be called on to open his defence and make explanations.Defence counsel, in response, also adopted his reply on points of law in urging the court to hold that the prosecution failed to make out a case against the defendant.
Both defendants were alleged to have negotiated foreign exchange transactions in various sums such as N9.4 million, N20 million, N10.4 million, N2.4 million, N100 million, N61 million, N40.7 million, N42 million.
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