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Fraud

Aug 17, 2025

FRN vs Abdulkarim Auwalu

Humans

Abdulkarim Auwalu

Money bag

$10,000,000.00
Amount allegedly defrauded

Money bag

Case Summary
The accused, without a company duly incorporated in Nigeria, allegedly failed to obtain a valid licence from the Central Bank of Nigeria to carry on your business of Bureau De Change and thereby committed an offence contrary to Section 57 of the Banks and Other Financial Institutions Act, 2020 and punishable under Sections 57(5) of the same Act.

Calendar

60
Day(s) since arraignment

Gavel

Case Update
In view of the defendant’s plea, the trial judge thereafter granted him bail in the sum of N500,000.00 (Five Hundred Thousand Naira), and one surety in like sum, who must be resident within the jurisdiction of the court. In addition, the defendant shall provide his National Identity Card and three months utility bill. He adjourned for commencement of the trial.

Calendar

Date of Next Sitting
Oct 15, 2025

Court house

Hon. Justice A. O. Owoeye
Federal High Court, Ikoyi, Lagos

Legislation

ACJA/ACJL Compliance - not applicable

Case Information
Abdulkarim Auwalu
Presiding Judge & Designated Court
Hon. Justice A. O. Owoeye, Federal High Court, Ikoyi, Lagos
Nature and Number of Charges
6-count charge bordering on operating bureau de change business without an appropriate licence by the Central Bank of Nigeria, CBN.
Date of 1st Arraignment
Jun 18, 2025
Summary of Case
The accused, without a company duly incorporated in Nigeria, allegedly failed to obtain a valid licence from the Central Bank of Nigeria to carry on your business of Bureau De Change and thereby committed an offence contrary to Section 57 of the Banks and Other Financial Institutions Act, 2020 and punishable under Sections 57(5) of the same Act.
Defendant(s) and Plea entered on Arraignment
1. Abdulkarim Auwalu – Not guilty
Defence Counsel(s)
1. Abdulqadir Wodi (Lawyer)
Prosecuting Agency
Economic and Financial Crimes Commission
Prosecutor(s)
1. A. A. Usman (Lawyer)
2. Moses Arumemi (Lawyer)
Status of Case
On Trial
Stage of Trial
Prosecution Stage
Length of Trial
60 day(s)
Case Update
In view of the defendant’s plea, the trial judge thereafter granted him bail in the sum of N500,000.00 (Five Hundred Thousand Naira), and one surety in like sum, who must be resident within the jurisdiction of the court. In addition, the defendant shall provide his National Identity Card and three months utility bill. He adjourned for commencement of the trial.
ACJA/ACJL Compliance
Not Applicable