Businessman Uchenna Minnis in EFCC Net, firm for alleged N822.4m fraud

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The Economic and Financial Crimes Commission {EFCC} on Wednesday arraigned a businessman, Uchenna Minnis, before an Ikeja Special Offences Court in Lagos State for alleged N822.4 million fraud.


The News Agency of Nigeria reports he was arraigned alongside his company, Howard Minnis Asset Management.

They were arraigned on a two-count charge of obtaining by false pretense and dishonest conversion.

The EFCC counsel, Mohammed Bashir, told the court that the accused and his company allegedly committed the offences sometime in 2023.

Bashir said Minnis allegedly dishonestly converted the sum of N822.4 million to his own use, being property of Krystal Lubes Limited.

Bashir alleged that the sum was paid to the accused for the purchase of 900,000 litres of SN 900 Base Oil and 500,000 litres of SN 500 Base Oil at the rate of N970 per litre.

The prosecutor also alleged that the accused fraudulently obtained the said money from Krystal Lube Limited under the guise that the money would be used for the purchase of 900,000 liters of SN 900 Base Oil and 500,000 litres of SN 500 Base Oil at the rate of N970 per litre, a representation he knew to be false.

According to him, the alleged offences contravene Sections 1 (3) of the Advanced Fee Fraud and Other Related Offences Act 2006 and Section 285 (1) of the criminal law of Lagos State 2011.

Bashir urged the court to remand the accused in a correctional centre until the next adjourned date.

The accused pleaded not guilty of the charge.

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