Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
Justice Aisha Kumaliya of the Borno State High Court sitting in Maiduguri has convicted and sentenced one Bukar Ahmed Shuwa to ten years imprisonment for cheating a petitioner of N2,950,000 under the guise of a cryptocurrency investment. The convict was arraigned on Wednesday, 3 June 2026, by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on a one-count amended charge.
The charge read that Shuwa, sometime in 2024 at Maiduguri, Borno State, fraudulently induced one Mahmud Ali to deliver the aggregate sum of N2,950,000 under the pretext of a Crypto Bitget Wallet Coin Investment, an offence contrary to Section 309 and punishable under Section 310 of the Penal Code Law and Other Matters Connected Therewith Law, 2023. The defendant pleaded guilty when the charge was read to him.
Following his guilty plea, prosecution counsel A.D. Abdulmalik prayed the court to convict him accordingly. Defence counsel H. Basharu pleaded for leniency, urging the court to temper justice with mercy. Basharu further stated that the convict had fully restituted the money to the petitioner and urged the court to sentence him with an option of fine.
Justice Kumaliya convicted Shuwa and sentenced him to ten years imprisonment with an option of a N200,000 fine. The convict’s journey to the correctional facility began when he fraudulently induced the petitioner to part with N2.9 million under the false promise of a crypto investment, diverting the funds to his personal use.
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