Nigeria Court Jails Entrepreneur 7 years for N8.75m Fraud
The Chairman, Nigerian Association of Small Scale Industries, Kano Munir Sagagi
London, Jan. 26, 2018 (AltAfrika)-The Chairman, Nigerian Association of Small Scale Industries, Kano Chapter, Alhaji Munir Sagagi was on Thursday sentenced to seven years imprisonment without option of fine by Justice Dije Aboki of the Kano State High Court.
Alternative Afrika that learnt trouble started for the convict, when he was arrested by the operatives of Economic and Financial Crimes Commission, EFCC, following a petition by one Alhaji Nasir Abubakar.
The petitioner, according to EFCC acting Head of Media and Publicity, Samin Amaddin,alleged that Sagagi alongside one Rabi Umar conspired to swindle him of the sum of N8,750,000 (Eight Million, Seven Hundred and Fifty Thousand Naira) under the pretext that the said money would secure him a loan which was based on equity contribution in KMC Microfinance Bank, where both accused persons work.
In the course of the trial, the prosecution presented witnesses and tendered documents to establish the complicity of the defendants in the alleged offence.
In her judgment, Justice Aboki held that the prosecution had proved its case beyond reasonable doubt and thus found Sagagi guilty and sentenced him to seven years imprisonment without option of fine on count two of the charge.
Counts one and three were resolved in favor of the accused persons.
The convict was also ordered to restitute the sum of N5,500,000 (Five Million, Five Hundred and Fifty Thousand Naira) to the complainant.
On the second defendant, Umar, Justice Aboki said she found no link between the convict and his co-accused in the commission of the crime. She, accordingly, discharged and acquitted him.