FRAUD: EFCC Arraigns Cashflow, “illegal” bank operator

Gora was accused of operating a banking business without a valid license issued to the company.

The EFCC, on Wednesday arraigned a director of Cashflow ABI Network Limited, Philemon Ibrahim Gora, before Justice Ijeoma Ojukwu of the Federal High Court, Maitama, on a two-count charge for illegally operating a financial institution.

Gora is accused to have used the company to defraud unsuspecting customers between 2012 and 2017. He was arraigned along with the company.

Count two of the charges reads: “That you Dr. Philemon Ibrahim Gora, being a Director of Cashflow ABI Network Limited between 2012 and 2017 in Abuja within the jurisdiction of this Honorable Court knowingly consented to the carrying on of banking business without a valid license issued to the company.

The defendants pleaded “not guilty” to the counts.

In view of the plea, prosecuting counsel, G.K. Latona, urged the court to fix a date for trial and to remand the suspect in prison custody.

Counsel to the defendant, Alex Marama, however, notified the Court that he received the charges “yesterday” and so was unable to file bail applications.

“We therefore seek to make an oral application for bail of our client,” he said, arguing that the defendant had been on EFCC’s administrative bail, “and did not violate any conditions preferred against him”.

Latona opposed the application for bail, urging the court to take into cognizance the nature of the offence committed.

After listening to the arguments, Justice Ojukwu, granted the defendants bail in the sum of N10 million each, with two sureties in like sum, who must be a federal civil servants not lower than grade level 16 and must own a landed proper. The trial judge also ordered him to surrender his international passport to the court. He is to also pay N5 million as bond, and will be in Kuje Prison pending when he fulfills the conditions.

The case has been adjourned to October 2 and 3, 2018.

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