The Makurdi Zonal Command of the Economic and Financial Crimes Commission, EFCC, has arraigned Shagbaor Jeremiah before Justice Abdu Dogo of the Federal High Court sin Makurdi, Benue State, on a four count charge for allegedly obtaining N42million by false pretence.
Jeremiah allegedly used an unregistered investment company, Monipoint Morsha Finance Limited, to defraud subscribers who were promised 1% daily returns on every N1000 invested.
One of the counts reads: “That you, Shagbaor Jeremiah, sometime in November, 2020 at Makurdi, within the jurisdiction of this Honourable Court, did by false pretences and with intent to defraud, obtained money from one Atee James Terhemba the sum of One Hundred Thousand Naira (N100,000.00) only, investment through Morsha Finance Limited, an unregistered company floated by you, under the pretext of paying him 1% interest daily for every N1000.00 invested and thereby committed an offence contrary to Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act”
When the charge was read to Jeremiah, he pleaded ‘not guilty’ to the offence.
Upon his plea, the prosecuting EFCC lawyer, Mary Onoja urged the Court to fix a date for trial while the defence lawyer , B. A. Iorheghem urged the court to grant bail to his client.
Justice Dogo later granted bail to Jeremiah in the sum of N1million and  a surety in like sum.
The judge added that the surety must be a resident of Benue State and have a landed property valued at N3million with Certificate of Occupancy or a civil servant on GL 10 and above in the Benue State Civil Service, who must present letters of first appointment and last promotion.
The case has been adjourned till February 15, 2022 for commencement of trial.
