The Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned two suspects before separate courts in Maiduguri over allegations of money laundering, criminal misappropriation, breach of trust, and obtaining by false pretence.
The first defendant, Abubakar Muhammad, was arraigned on Wednesday and Thursday, June 3 and 4, 2026, before Justice Shehu Umaru Adamu of the Federal High Court and Justice Amina Mustapha Ibrahim of the Borno State High Court, respectively.
Muhammad faces a total of five charges, comprising three counts before the Federal High Court and two counts before the State High Court, bordering on money laundering, criminal misappropriation, and breach of trust involving an aggregate sum of N650 million.
According to the EFCC, Muhammad allegedly converted N650 million through accounts domiciled with United Bank for Africa Plc, Taj Bank, and Moniepoint Microfinance Bank.
The commission alleged that the funds were proceeds of unlawful activity disguised as payments for a purported mining investment business that he managed.
One of the charges stated that the defendant allegedly converted the funds between January 2021 and February 2026, contrary to provisions of the Money Laundering (Prevention and Prohibition) Act, 2011.
Muhammad pleaded not guilty to all charges when they were read to him.
Following his plea, prosecution counsel, Mukhtar Ali Ahmed, requested a trial date and urged the court to remand the defendant in EFCC custody. Defence counsel, B.G. Zanna, however, applied for bail before Justice Ibrahim.
The court granted Muhammad bail in the sum of N300 million with two sureties. One of the sureties is required to possess a landed property valued at N400 million.
Justices Adamu and Ibrahim subsequently adjourned the cases to June 11 and June 15, 2026, respectively, for commencement of hearing.
The EFCC disclosed that Muhammad’s arrest followed a petition alleging that he had been entrusted with the sale of Nestlé products worth N650 million but allegedly manipulated sales records and diverted the proceeds for personal use.
In a separate case, the anti-graft agency on Thursday, June 4, 2026, arraigned Bilal Muhammad before Justice Amina Mustapha Ibrahim of the Borno State High Court on two counts of obtaining by false pretence involving N500,000.
The EFCC alleged that Bilal Muhammad, while serving as the Chief Executive Officer of GDF Home Sales Enterprises Ltd, also known as GDF Company, fraudulently obtained N500,000 from one Adamu Abubakar in April 2025 under the pretext of purchasing a tricycle, popularly known as a Keke Napep.
According to the charge, the representation was allegedly false and constituted an offence under the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
The defendant pleaded not guilty to the charges.
Following the plea, prosecution counsel A.D. Abdulmalik requested a trial date and sought the remand of the defendant in a correctional facility.
Justice Ibrahim adjourned the matter until June 22, 2026, for commencement of hearing and ordered that the defendant be remanded at the Maiduguri Maximum Correctional Facility pending trial.
