Abuja - The Economic and Financial Crimes
Commission, has arraigned the General Manager of Gombe State Cooperative
Savings and Loan Limited, Sani Musa, in court for allegedly defrauding a bank
of N75 million.
He is appearing before Justice Umar of the Federal High
Court Gombe on a three-count charge bordering on obtaining money by false
pretence and issuance of dud cheques.
Musa was alleged to have in May 2009 obtained the said
loan from Guaranty Trust Bank under the false pretence that it was to be used
by members of the cooperative for acquisition of household items.
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On receipt of the said loan, however, he disbursed only
N9 million and diverted N66 million.
It is alleged in August 2009, he drew on the account name
of Gombe State Cooperative Savings and Loans Limited the sum of N4,8 million in
favor of GTB.
He is said to have issued a cheque of N30 million to GTB
drawn on Asnib International Resources Limited account with Intercontinental
All the cheques upon presentation for payment were
dishonored for insufficient funds and subsequently marked dud.
He is pleading not guilty.
The trial continues.
- CAJ News