$100m Fraud: Trial Of Ibrahim Mahmud Resumes April 20

$100m Fraud: Trial Of Ibrahim Mahmud Resumes April 20

Justice Yusuf Halilu of the Federal Capital Territory High Court, Maitama Abuja has fixed April 20, 2021 for definite hearing of the six count charge of forgery and attempt to obtain $100,000,000 USD brought against Ibrahim Olanrewaju Mahmud by the Economic and Financial Crimes Commission, EFCC. The offence contravenes Sections 6 and 8 of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and Section 362, 366, and 364 of Panel Code.

The defendant who is Group Managing Director of Triumph Oil and Gas Madagascar Nigeria Limited, an unregistered company, allegedly presented forged documents to the Central Bank of Nigeria seeking payment of $50,000,000 USD for a purported $100,000,000 contract for monitoring and supervision of major Federal Republic of Nigeria infrastructure projects, approved to his company by the apex bank.

Other  forged documents recovered from the defendant include a letter purportedly emanating from the Ministry of Petroleum Resources signed by  the Minister of State, Chief Timipre Sylva; another document from the Presidency supposedly signed by Sabiu Yusuf, Special Assistant to the President; certificates of payments in millions of Dollars, purportedly signed by President Muhammadu Buhari and contract award letters, signed by Godwin Emefiele Governor of Central Bank, CBN.

One of the counts reads; “That you, Ibrahim Olanrewaju Mahmud, on or about 22nd July,2020, in Abuja within the jurisdiction of the High Court of Federal Capital Territory, while acting as the Group Managing Director, Triumph Oil and Gas Madagascar Nigeria Limited, a Company not registered with the Corporate Affairs Commission and with intent to defraud, did attempt to obtain the sum of $50,000,000.00(Fifty Million US Dollars) only from Central Bank of Nigeria, under the false pretense that Triumph Oil & Gas Madagascar Nigeria Limited is responsible for monitoring and supervision of major Federal Republic of Nigeria infrastructure projects, forfeited assets and government businesses, that the said sum represent a contract payment approved by the central bank of Nigeria which you knew to be false and thereby committed an offence contrary to Section 8(b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and Punishable under section 1(3) of the same Act”.

Another count reads; “That you, Ibrahim Olarenwaju Mahmud on or about 8th May, 2020 at Abuja, within the jurisdiction of the High Court of the Federal Capital Territory, fraudulently made false document to wit; Central Bank of Nigeria Certificate of Ownership dated 8th May, 2020, purportedly signed by Mr. Godwin Emefele, Governor of Central Bank of Nigeria an National Assembly of Federal Republic of Nigeria Signature stating that you are the rightful beneficiary of US$ 100,000,000.00( One Hundred Million Dollar USD) only with the intention of causing same to be believed that the said document was genuine and emanated from Central Bank of Nigeria, which you knew to be false and thereby committed an offence contrary to Section 362 and Punishable under Section 364 of the Panel Code Cap. 532 Laws of the Federation of Nigeria, (Abuja) 1990”.

He pleaded “not guilty” when the charges were read to him.

Justice Halilu granted the defendant bail on the condition that he provides two sureties who must be residents of Wuse, Garki, Maitama or Asokoro in Abuja. The sureties must deposit their title document with the Court and their addresses verified by the Court.

The two sureties must also undertake to produce the defendant to the Court and if they fail to do so, forfeit their houses to the Federal Government.

The defendant is to also deposit his travel document with the court.

Justice Halilu adjourned the matter till April 20, 2021 for definite hearing.

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