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Money laundering

May 23, 2026

FRN vs Abubakar Ibrahim (Managing Director of Flexus Global Investment Limited)

Humans

Abubakar Ibrahim

Money bag

N7,600,000.00
Amount allegedly laundered

Money bag

Case Summary
The Defendant, through his company, allegedly carried out some foreign exchange trading without being duly registered with the Special Control Unit Against Money Laundry (SCUML) and through one of his agents Umar Kabir, he allegedly obtained a total sum of N7,600,000.00 from the complainant with the promise of 30-35 percent monthly return on investment. However, after the investment was made, the Defendant neither delivered on his promise nor refunded the sum invested.

Calendar

2,045
Day(s) since arraignment

Gavel

Case Update
In view of the Defendant's not-guilty plea, the prosecution counsel asked the court for a trial date and to also remand the Defendant in the Correctional Facility. However, counsel to the Defendant prayed the court to grant his client bail. After listening to both parties, the trial judge adjourned the matter for commencement of trial and also granted the prayers of the defense and admitted the Defendant bail in the sum of N50,000,000.00, with one surety in like sum. The surety must be the owner of a landed property within Kano metropolis, which shall be verified by the registry of the court.

Court house

Hon. Justice Lewis Alagoa
Federal High Court, Kano, Kano

Legislation

ACJA/ACJL Compliance - violated

Case Information
Abubakar Ibrahim
Presiding Judge & Designated Court
Hon. Justice Lewis Alagoa, Federal High Court, Kano, Kano
Nature and Number of Charges
5-count charge bordering money laundering.
Date of 1st Arraignment
Oct 16, 2020
Summary of Case
The Defendant, through his company, allegedly carried out some foreign exchange trading without being duly registered with the Special Control Unit Against Money Laundry (SCUML) and through one of his agents Umar Kabir, he allegedly obtained a total sum of N7,600,000.00 from the complainant with the promise of 30-35 percent monthly return on investment. However, after the investment was made, the Defendant neither delivered on his promise nor refunded the sum invested.
Defendant(s) and Plea entered on Arraignment
1. Abubakar Ibrahim (Managing Director of Flexus Global Investment Limited) – Guilty
Defence Counsel(s)
1. H. A Hamza (Lawyer)
Prosecuting Agency
Economic and Financial Crimes Commission
Prosecutor(s)
1. Micheal Ojo (Lawyer)
Status of Case
On Trial
Stage of Trial
Prosecution Stage
Length of Trial
2,045 day(s)
Case Update
In view of the Defendant's not-guilty plea, the prosecution counsel asked the court for a trial date and to also remand the Defendant in the Correctional Facility. However, counsel to the Defendant prayed the court to grant his client bail. After listening to both parties, the trial judge adjourned the matter for commencement of trial and also granted the prayers of the defense and admitted the Defendant bail in the sum of N50,000,000.00, with one surety in like sum. The surety must be the owner of a landed property within Kano metropolis, which shall be verified by the registry of the court.
ACJA/ACJL Compliance
Violated