The Economic and Financial Crimes Commission (EFCC) in Kano State has arraigned Yusuf Yakubu before Justice Sanusi Ma’aji of the Kano State High Court on a one count charge of misappropriation.
The defendant allegedly obtained the sum of $870,000 from the complainant under the pretext of changing same to Naira.
He later returned only N220,300,000 and diverted the balance of N197,600,000.
The funds belong to Oliver Ogokumaka and Obumnemi Okoli.
Yakubu’s offense was contrary to section 308 and punishable under section 309 of the Penal Code.
The defendant pleaded not guilty when the charges were read. Counsel for the prosecution, Musa Isah asked the court for trial date.
Defence counsel, Abdul Adamu said he had filed a motion challenging the jurisdiction.
Justice Ma’aji adjourned the matter until August 18 for argument on the motion.
Yakubu was granted bail in the N50,000,000 and two sureties in like sum. One of the sureties must be his relative and Kano resident.