Business Post Contributor
By Bliss Okperan
A Bureau De Change (BDC) operator, Mr Atoyebi Bamidele, popularly known as Bam-Bam, has been remanded in prison by Justice Akintayo Aluko of the Federal High Court sitting in Lagos.
The forex trader was brought before the court on the accusation of obtaining N157 million from traders in the popular Alaba Market in Lagos with a fake identity.
He was arraigned by the Force Criminal Investigation Department in Alagbon-Ikoyi, Lagos, on Tuesday with a three-count charge.
According to the prosecuting counsel, S.O. Ayodele, Bam-Bam, who runs an organisation known as Prosocial International Limited, “perpetrated the act between December 2022 and January 2023 when he fraudulently obtained the sum of N157,206,000 under the false pretence of helping the traders to get the United States dollars equivalent.”
He claimed that the defendant channelled the funds from the traders through one Mrs Priscilla Oyiowo and Obinna Ozuah to his personal needs.
Mr Ayodele said the offence contravenes Sections 8(a) and 1(1)(c) of the Advance Fee Fraud and Other Related Offences Act; CAP A8 Vol 1, Laws of the Federation of Nigeria, and is punishable under section 1(3),383 of the Criminal Code Act, Cap C 38, and 390 (9) Laws of the Federation of Nigeria, 2004.
He asked the court to send the suspect to jail, and when the defendant’s lawyer, E.A. Alafin, demanded the court to grant his client bail, the prosecuting counsel kicked against it, asking the court to keep him with the Nigerian Correctional Service Centre till a judgement is made.
Justice Aluko remanded the defendant in prison and adjourned the case to October 5, 2023, for hearing of the bail application.
