Mariam Suleiman, the Chairman and Managing Director of Famzhi Interbiz Limited, has been charged with fraud in the amount of N2 billion by the Federal Government.
Mrs Suleiman and her company were charged with two counts before Justice Inyang Ekwo.
She, on the other hand, has pled not guilty to the charges.
According to the Nigerian News Agency, Mrs Suleiman is the first defendant in the action, while the firm is the second.
After she entered her plea, her attorney, Victor Giwa, reminded the court that a bail application dated and filed on November 1 was pending.
The complainant, he stated, had been served.
The application, he said, sought an order admitting her client to bail on self-recognizance or on such fair and liberal terms as the court, in its discretion, deems appropriate in the circumstances of this case, pending the case’s final conclusion.
The issue was initiated on behalf of the Federal Government by lawyer to the Attorney-General of the Federation, AGF, Moshood Adeyemi, who acknowledged receipt of the bail application.
He did not object to the bail request.
Mr Adeyemi, on the other hand, informed the court that the first defendant stated her travel documents were missing.
He urged the court to impose conditions on the defendant’s bail that would force her to stand trial.
Giwa revealed that her client’s foreign passport was in the possession of the Nigeria Police Force.
The AGF lawyer, on the other hand, suggested that the development was likely due to the large number of persons affected by the investment scheme, as the managing director was alleged to have been reported to several government organizations.
After reviewing the application and the affidavit in support of the application, Justice Ekwo orders Mrs Suleiman to submit the original of the deed of assignment dated January 4, 2020, which is attached to the affidavit.
He directed that the court’s registry verify the documents and write an affidavit of the same.
Ekwo also ordered the prosecution to return the first defendant’s foreign passport and place it in the court’s registry as soon as possible.
He declared that “the first defendant should not travel out of this court’s jurisdiction without previous leave of court.”
The case was adjourned till March 1, March 3, and March 3, 2022, after the judge ordered Mrs Suleiman to be placed in the custody of the Nigerian Correctional Service pending compliance with the bail requirements.