Lagos Businessman Ismaeel Salami arraigned over alleged N172m Fraud

By Paul Iyoghojie

Operatives of the Police Special Fraud Unit, PSFU, Ikoyi, Lagos, Southwest, Nigeria, have arrested a Lagos-based businessman, Alhaji Ismaeel Iyanda Salami and charged him before a Federal High Court in Lagos for allegedly conniving with others still at large to obtain the sum of N172,000,000 from another businessman, Tunji Teluwo under false pretence.

Police said that Salami allegedly collected the money from the complainant with the pretext of using the money to finance an AGO, Diesel supply contract, a claim the police said the defendant knew to be false.

Police further said that the defendant failed to use the money for the diesel supply, and instead converted the money to his personal use.

Following the development the complainant petitioned the Inspector General of Police, IGP over the matter and the petition was referred to the Commissioner of Police, CP in charge of the Police Special Fraud Unit, Lagos for detailed investigation.

The CP in charge of PSFU, Lagos directed her crack team to fish out all the suspects involved in the alleged fraud and the police arrested the defendant while efforts were on to arrest others.

The defendant was charged before Justice Lewis Alagao of the Federal High Court, Lagos on a two-count charge bordering on obtaining money by false pretence, conversion and fraud.

Police counsel, Mr Eliot Ijie informed the court in the charge marked FHC/IJ/732C/2023 that the defendant and others at large committed the offence in 2020 in Lagos.

Ijie told the court that the defendant collected the sum of N172,000,000 from the complainant to use to finance an AGO, diesel supply contract with the promise to refund the money to the complainant at an agreed time, but that the defendant failed to fulfil the promise and instead converted the money to his use leading to his arrest and arraignment in court.

He said the offences, the defendant committed were contrary to Section 1(1) (c), advance fee fraud and other fraud-related offences Act, 2016 and punishable under Section 1(3) of the same Act and Section 15(2) (b), money laundering prevention and prohibition Act, 2011 and punishable under Section 15 (3) of the same Act.

Count 2 of the charge reads, “that you Alhaji Ismaeel Iyanda Salami and others at large in October 2020 at Lagos within the jurisdiction of the Federal High Court, with intent to defraud did convert to your use or to the use of other persons a total sum of N172,000,000 property of one Tunji Teluwo which you obtained from him under the pretence of using the money to finance an AGO supply contract, a representation you knew to be false or did not exist.”

The defendant, however, pleaded not guilty to the charges and Justice Alagao granted him bail in the sum of N200,000,000 with one surety in like sum.

Alagao directed that the surety must own a landed property with original documents within the jurisdiction of the court and adjourned the case till 19 January 2024 for further hearing.

The defendant was however moved to the Federal Correctional Facility at Ikoyi, Lagos pending the perfection of the bail condition.