The Economic and Financial Crimes Commission, EFCC, has arraigned a woman, Ene Queen Bamaiyi, over an alleged N240.5 million foreign exchange fraud.
She was brought before Justice A.A. Halilu of the Federal Capital Territory High Court, Apo, Abuja, on Thursday, October 2, 2025, on a one-count charge of criminal breach of trust.
According to the EFCC, Bamaiyi was entrusted with N240,500,000 by one Bright Okubo in May 2024 for the purpose of converting the money to dollars. However, she allegedly converted N124,000,000 out of the total sum for her personal use.
The charge against her reads in part:
“That you, Ene Queen Bamaiyi (female), sometime in May 2024 in Abuja, while being entrusted with the sum of N240,500,000 by one Bright Okubo for dollar conversion, dishonestly converted N124,000,000 to your personal use, contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Code.”
Bamaiyi pleaded not guilty to the allegation.
Prosecuting counsel, Joshua Saidi, asked the court to fix a date for trial and informed the judge that he would call five witnesses to prove the case.
On the other hand, defence lawyer, M.A. Attah (SAN), urged the court to grant his client bail, describing her as a single mother of a two-year-old child and requesting lenient terms.
After listening to both sides, Justice Halilu granted Bamaiyi bail in the sum of N30 million, with two sureties in the same amount. The sureties must be civil servants not below Grade Level 14.
The judge also ordered that the defendant deposit her international passport with the EFCC. Until she meets her bail conditions, she is to remain in the Suleja Correctional Centre.
The case was adjourned to December 2 and 3, 2025 for trial.