An Abuja resident, Ene Queen Bamaiyi, has been formally charged with the alleged misappropriation of N124 million from a total of N240 million entrusted to her by Bright Okubo for the purpose of foreign currency exchange.
Bamaiyi appeared before Justice A.A. Halilu at the Federal Capital Territory (FCT) High Court in Apo, Abuja, facing a single count of criminal breach of trust involving the sum of N240,500,000 (Two Hundred Forty Million, Five Hundred Thousand Naira), as brought by the Economic and Financial Crimes Commission (EFCC).
The indictment states: “That you, Ene Queen Bamaiyi (female), in or around May 2024, within Abuja under the jurisdiction of this Honourable Court, having been entrusted with N240,500,000.00 (Two Hundred Forty Million, Five Hundred Thousand Naira) by Bright Okubo for conversion into US dollars, did unlawfully appropriate N124,000,000.00 (One Hundred Twenty-Four Million Naira) from the entrusted funds for your personal benefit, thereby breaching the trust placed in you and committing an offence contrary to Section 311 of the Penal Code, punishable under Section 312 of the same Code.”
She entered a plea of “not guilty” to the allegations. Subsequently, the prosecution, represented by Joshua Saidi, requested the court to set a trial date and indicated plans to call five witnesses to substantiate the charges.
In response, the defense lawyer, M.A. Attah, SAN, petitioned the court to grant bail on liberal terms, emphasizing his client’s role as a single mother caring for a two-year-old child.
After reviewing the arguments, Justice Halilu approved bail set at N30 million, requiring two credible sureties each with a minimum civil service grade level of 14.
The court also mandated that Bamaiyi surrender her passport to the EFCC and remain in custody at Suleja Correctional Centre until the bail conditions are met.
The trial was scheduled to continue on December 2 and 3, 2025.