EFCC Arraigns Woman for Allegedly Diverting ₦124m Meant for Forex Conversion

By Joseph Iyaji | Akahi News

The Economic and Financial Crimes Commission (EFCC) has arraigned one Ene Queen Bamaiyi before Justice A.A. Halilu of the Federal Capital Territory High Court, Apo, Abuja, over allegations of diverting ₦124 million out of ₦240.5 million entrusted to her for foreign exchange transactions.

The Case

According to a statement shared by the EFCC on its official X handle, Bamaiyi was arraigned on October 2, 2025, on a one-count charge of criminal breach of trust.

The charge partly reads:

“That you, Ene Queen Bamayi (female), sometime in May 2024, in Abuja, while being entrusted with the sum of ₦240,500,000 by one Bright Okubo for conversion at dollar equivalent, did dishonestly convert ₦124,000,000 out of the said sum to your personal use, and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Code.”

The defendant pleaded not guilty to the charge.

Court Proceedings

Prosecution counsel, Joshua Saidi, informed the court of the Commission’s intention to call five witnesses to prove its case and requested a trial date.

On the other hand, defence counsel, M.A. Attah, SAN, sought bail for his client on liberal terms, citing her status as a single mother of a two-year-old child.

Justice Halilu granted Bamaiyi bail in the sum of ₦30 million with two sureties of not less than Grade Level 14 in the civil service. He further ordered her to deposit her international passport with the EFCC and remanded her at the Suleja Correctional Centre pending fulfilment of bail conditions.

The case has been adjourned to December 2 and 3, 2025, for trial.

EFCC Crackdown

Meanwhile, the EFCC confirmed the arrest of 92 suspected internet fraudsters in Edo State, part of its ongoing efforts to clamp down on financial crimes across the country.

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