The Economic and Financial Crimes Commission (EFCC) has arraigned Umar Bello Sadiq and his company.
The arraignment was on Wednesday before Justice Zuwaira Yusuf at the Kano State High Court.
Sadiq alongside his company, Marula Global Links are charged with misappropriation and issuing dud cheques.
Background
The charges against Sadiq and his company stem from an allegation that they obtained ₦20,000,000 from Faridah Nasir Bayero, the wife of Emir Nasir Ado Bayero of Bichi.
They purportedly convinced her to invest the funds in a mining business.
However, it is claimed that Sadiq diverted the money for personal use.
One of the charges specifies that they “Dishonestly misappropriated the sum of ₦20,000,000 entrusted to you by Faridah Nasir Bayero for the supply of Industrial Resources.”
Upon being arraigned, Sadiq pleaded not guilty to the charges.
In response, the EFCC counsel, Sadiq Kurawa, sought a trial date.
Meanwhile, the defense counsel, Shuaibu Muazu, presented a bail application for the defendant.
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Court’s Decision
Justice Yusuf in her ruling, granted the defendant bail in the amount of ₦500,000.
To secure the bail, two sureties in like sum are required, and these sureties must be blood relatives of Sadiq.
The trial is scheduled to commence on November 24, 2023.