The Economic and Financial Crimes Commission (EFCC) has charged Mohammed Abdullahi Korimi with fraud involving the alleged misappropriation of N25.6 million from a business transaction in Maiduguri, Borno State. The suspect appeared before Justice Aisha Kumaliya of the Borno State High Court on Thursday, April 16, 2026, facing two counts of criminal misappropriation and obtaining by false pretence. The charges stem from an incident in July 2025, when Korimi allegedly obtained 400 bags of beans valued at N25,647,000 from Maina Hassan Madube under false promises of delivery to customers in Sango-Ota, Ogun State. He claimed he would make payment within one week, a promise he never kept.
According to the EFCC, Korimi misrepresented his intentions to secure the goods, knowing full well he had no intention of fulfilling the transaction. The prosecution presented the charge sheet, which detailed how the defendant used deceptive means to acquire the beans, violating Section 1(1) of the Advance Fee Fraud and Other Fraud-Related Offences Act, 2006. The offence is punishable under Section 1(3) of the same law. When the charges were read in court, Korimi pleaded not guilty, prompting the prosecution to request a trial date and the remand of the suspect in custody.
Prosecution counsel, S.O. Saka, asked the court to fix a date for trial and to remand Korimi in a correctional facility pending further proceedings. Justice Kumaliya granted the request, adjourning the case to April 22, 2026, for the hearing of the bail application. She also ordered that Korimi be remanded at the Maiduguri Maximum Correctional Facility. The EFCC stated that the case originated from a fraudulent business arrangement where Korimi secured the beans under false pretences and failed to deliver them to the agreed destination or make payment.
The incident highlights ongoing challenges with economic fraud in Nigeria, particularly in the agricultural and trading sectors. The EFCC continues to intensify its efforts to combat financial crimes across the country, especially in regions like Borno where economic activities are often disrupted by insecurity and poor regulatory oversight. The case underscores the importance of due diligence in business transactions, especially when dealing with large sums of money and valuable goods. As the legal process moves forward, the outcome will serve as a warning to others engaging in similar fraudulent activities. The EFCC’s action reinforces its commitment to protecting Nigerian businesses and consumers from financial exploitation.
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