EFCC Re-Arraigns Man Over Alleged N1.5bn Fraud In Maiduguri

The Economic and Financial Crimes Commission (EFCC) has re-arraigned Abubakar Muhammad before the Federal High Court in Maiduguri, Borno State, over the alleged misappropriation and laundering of N1.5 billion belonging to Aminami Global Ventures.

Muhammad was re-arraigned before Justice Shehu Umaru Adamu on a 20-count amended charge bordering on money laundering and criminal misappropriation.

According to the EFCC, the defendant allegedly diverted N1.5 billion between January 2021 and February 2026 by manipulating the company’s sales records and directing customers to pay into his personal bank accounts instead of the company’s account.

He pleaded not guilty to all the charges.

The prosecution’s first witness, Babagoni Ali Aminami, owner of Aminami Global Ventures, told the court that he employed Muhammad as the company’s manager after training him in the business.

Aminami alleged that the defendant abused the trust reposed in him by diverting company funds into personal accounts, obtaining goods on credit in the company’s name and failing to account for business transactions, leaving the company with substantial financial losses and outstanding debts.

The second prosecution witness, Rhoda Yaro, testified that she processed payments on the defendant’s instructions, transferring millions of naira from the company’s account to various accounts provided by him in the course of her official duties.

Another witness, Muhammad Bashir, told the court that the defendant transferred money through him for the purchase of a house in July 2025 and that he subsequently handed the property’s documents to Muhammad after completing the transaction.

The fourth witness, Umar Mohammed Gajibo, said he had known both the complainant and the defendant for several years through their business dealings and confirmed that he had previously assisted in registering Aminami Global Ventures as an Oraimo distributor.

The fifth prosecution witness, Samuel Nwabisi, a Nestlé back-end operator who later worked as an inventory clerk at Aminami Global Ventures, alleged that the defendant withheld sales records and invoices from him and often prevented him from witnessing cash collections from customers.

Nwabisi further claimed that the alleged misappropriation of funds affected the company’s business relationship with Nestlé, leading to a temporary suspension of operations and a reduction of its quarterly sales target from N3 billion to N500 million upon reinstatement.

Justice Adamu adjourned the case until July 8, 2026, for the continuation of hearing.

Muhammad was initially arraigned on June 3, 2026, on a two-count charge before the amended charges were filed by the anti-graft agency.