GMD charged with attempting to defraud CBN of $100m

The Group Managing Director of an oil marketing firm, Triumph Oil and Gas Madgascar Nigeria Limited, Ibrahim Mahmud, has been charged with attempt to defraud the Central Bank of Nigeria to the tune of $100 million.

Mahmud, who was arraigned before a High Court of the Federal Capital Territory on a six-count charge, was also accused of forging the signatures of the CBN Governor, Godwin Emefiele; Special Assistant to the President, Sabiu Yusuf; and the GMD of the Nigerian National Petroleum Corporation, Mele Kyari.

According the Economic and Financial Crimes Commission, Mahmud, who allegedly claimed to be a Deputy Governor in CBN, was said to have taken the said forged documents to the apex bank to demand for the payment of $100million for the contract he claimed his firm was awarded.

Mahmud was said to have also claimed that his firm was engaged to monitor and supervise major Federal Government’s infrastructure projects, forfeited assets and government businesses, for which the CBN approved the payment of the $100 million.

Upon being confronted with Mahmud’s claims, the CBN was said to have referred the case to the EFCC for investigation, following which the investigating agency found that, not only was his firm not registered, the documents he paraded were doubtful.

Mahmud, who, pleaded not guilty and was granted bail by Justice Halilu Yusuf was, on Monday in Abuja ordered to be returned to the Kuje prison following his inability to meet the bail conditions.

At the mention of the case on Monday, prosecuting lawyer, Benjami Manji, said the case was for trial and that he was ready and has his witness in court.

Defence lawyer, J. K. Kolawole, pleaded for time to enable him to familiarise himself with the case, claiming he was new in the matter.

With EFCC’s lawyer not opposing the defence lawyer’s application, Justice Yusuf adjourned till January 24 for definite trial, during which an official of the CBN is expected to testify for the prosecution.

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