The Economic and Financial Crimes Commission (EFCC) has arraigned four individuals before the Kaduna State High Court on allegations of a sophisticated fraud scheme involving the impersonation of Fatima Dikko Radda, wife of the Katsina State Governor. The defendants allegedly defrauded victims of nearly N198 million through an elaborate currency exchange scam.
In a statement released on Thursday, the EFCC confirmed the arraignment of Baba Sule Abubakar Sadiq, Hafsat Kabir Lawal, Abdullahi Bala, and Ladani Akindele Ayodele on a six-count charge before Justice Amina Bello. The quartet faces serious allegations of obtaining money by false pretenses, engaging in money laundering activities, and committing theft amounting to N197,750,000.
According to the anti-graft agency, the defendants allegedly worked together to defraud their victims through multiple tactics, with the primary strategy involving the impersonation of the Katsina State Governor’s wife. The case initially came to light through the Department of State Services (DSS), which arrested the suspects before transferring them to the EFCC upon determining that the offenses fell under the category of financial crimes.
The charges detail how the defendants allegedly obtained substantial sums under false pretenses. One count specifically outlines how they allegedly secured N89,000,000 from a victim named Aminu Usman by falsely claiming to have $53,300 to exchange for the naira equivalent. This transaction reportedly involved payments into a Taj Bank account belonging to defendant Abdullahi Bala.
During the court session, all four defendants entered not guilty pleas when the charges were read by the court registrar. Their legal representation, including Senior Advocate of Nigeria M.S. Katu, along with counsels Jazuli Mustapha and Paul A. Okachi, informed the court that they had filed and served various bail applications on behalf of their clients.
The prosecution, represented by Bright C. Ogbonna, requested that the court set a trial date and asked that the defendants be remanded in a correctional facility pending the determination of their bail applications. Ogbonna strongly opposed the bail applications, arguing that they were not yet ready for consideration by the court.
After hearing arguments from both sides, Justice Bello ordered the defendants to be remanded in a correctional facility and adjourned the case until March 17, 2025, when the court will hear the bail applications.
The EFCC’s investigation revealed a calculated operation that leveraged high-profile impersonation to gain trust and access to significant funds. According to the commission, defendant Hafsat contacted the victims while pretending to be the wife of Katsina State Governor Malam Dikko Radda.
Under this fraudulent identity, she allegedly obtained N89,000,000 and an additional N108,000,000 from a petitioner, claiming to possess $118,300 that she was willing to sell at favorable rates.
Further investigations uncovered that Hafsat’s husband, Sadiq (the second defendant), allegedly provided his wife with two SIM cards that were registered on Truecaller as “Fatima Dikko Radda.” This digital disguise was reportedly crucial to establishing credibility with potential victims.
The scheme allegedly expanded when Sadiq contacted defendant Ladani Akindele, a former colleague from a new-generation bank, requesting the contact information of Unity Bank Chairman Hafiz Bashir. Through this connection, they obtained contact details for the petitioner, Aminu Usman, who operates as a bureau de change operator.
The EFCC statement indicates that after securing nearly N198 million from Usman under the pretext of having dollar equivalents to exchange, the funds were deposited into Abdullahi Bala’s bank account. From there, the money was allegedly distributed among the four defendants and systematically laundered through various channels.
The case highlights the growing sophistication of impersonation fraud in Nigeria, where criminals leverage the names and positions of high-profile individuals to execute financial crimes. The EFCC continues to warn the public about such schemes while pursuing prosecutions against those involved in similar offenses. If convicted, they face substantial penalties under the Advance Fee Fraud and Other Fraud-Related Offences Act of 2006.
This case comes amid increasing efforts by Nigerian law enforcement agencies to combat financial crimes and fraud schemes that have damaged both individual victims and the nation’s financial reputation. The EFCC has recently intensified its operations against various forms of financial crimes, including a recent alert about 58 illegal Ponzi scheme operators.
The commission continues to urge Nigerians to exercise caution when engaging in financial transactions, particularly those involving currency exchange or investment opportunities that promise unusually favorable returns.
