The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned a man for N20 million cattle investment fraud.

The defendant, Andefiki Markus, pleaded not guilty to two charges of engaging in “false pretence”.

Mr Markus denied the charges read to him before the Gombe State High Court, Gombe, on Tuesday.

EFCC said in a statement on Wednesday that he committed the crime on 27 June 2023, when he allegedly took N20 million from one Skeptra Useni Baka as purported investment into cattle fattening at Taraba State for profit.

EFCC alleged that the defendant knew the claim to be false, thereby committing an offence contrary to Section 1(1)(c) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act.

The law criminalises the act of receiving money falsely through a business or contract that does not exist.

It prescribes 20 years’ imprisonment without the option of a fine for the offence.

After the defendant entered his not-guilty plea, EFCC’s lawyer, Abubakar Aliyu, urged the court to remand the defendant in the correctional centre pending the hearing for his bail application.

But Mr Markus’s lawyer, C. C Ichecu, informed the court of a pending bail application.

However, the trial judge, H.H Kereng, ordered that Mr Markus be held in EFCC’s custody until his bail hearing slated for Thursday.

Mr Markus’s case is among the many cases EFCC is prosecuting for fraud. Metro Digital Limited is before the Federal High Court in Port Harcourt, Rivers State, over alleged illegal interception and rebroadcast of content belonging to MultiChoice Nigeria Limited.

Similarly, a former Skye Bank Chairman, Tunde Ayeni, is standing trial for N8 billion fraud in Abuja.

Also, Gambomi Muhammed is on trial for N4.5 million fraud in Maiduguri, Borno State. The list is not exhaustive, but the EFCC has brought all these cases before the court this month.

One of the charges against Mr Markus reads, “That you Dr Andefiki Markus on or about the 27th day of June 2023 in Gombe, Gombe State within the jurisdiction of this honourable court, with intent to defraud did obtain monies the total sum of Twenty Million Naira ( N20,000,000) through your bank account number 0011125604 domiciled with Access Bank plc from Mr Skeptra Useni baka under the false pretence that the said sum were for investment into cattle fattening at Taraba State for profit in favour of the said Mr Skeptra Useni Baka which you knew to be false thereby committed.”

EFCC arrests man in N20 million cow business fraud

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