N212.4m Fraud: Reps Member, Others Know Fate June 15
Justice Sale Musa Shuaibu of the Federal High Court, Kaduna, has reserved judgment in the case of alleged fraud involving a serving House of Representatives member representing Mashi Dutsi federal constituency, Mansur Ali Mashi, for June 15 and 16, 2023.
Mashi is being prosecuted for allegedly obtaining a loan facility to the tune of Two Hundred and Twelve Million, Four Hundred and Thirty-Nine Thousand, Five Hundred and Fifty-Two Naira only (N212,439,552) from Sterling bank using fictitious companies, according to the Economic and Financial Crimes Commission (EFCC).
He was arraigned alongside four bank officials, Abdulmumini Mustapha, Shehu Aliyu and Muazu Abdu, Hassan Usman (deceased) and they all pleaded not guilty.
One of the charges reads, “That you Auwulu Hamza being regional manager of Sterling bank, North Western region on or about the 28th July 2008 in Katsina within the judicial division of the Federal High Court did knowingly approved a loan of twenty-five million naira (N25,000,000) to one Mansur Ali Mashi (through a false and fictitious account name, Faskari Local Education Authority with account number 136285) which is above your approval limit by splitting it into five separate customer credit request contrary to accepted practice and Sterling bank regulation and thereby committed an offense contrary to Section 15(1)(b) and punishable under s. 16(1)(a) of the Failed Banks (Recovery of Debts) And Financial Malpractices in Banks Act”.
The Commission noted that the case has suffered so many setbacks due to the elevation and retirement of the trial judges. In the course of the trial, the prosecution called six witnesses.
However, on Wednesday, the prosecution counsel, Douglas I. Gift, and defense counsel A.D. Umar adopted their final written addresses.
The Judge then adjourned the matter to June 15 and 16, 2023, for judgment.
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