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‘Wonder Bank’ Operator Charged in Kaduna

May 7, 2012

The Economic and Financial Crimes Commission (EFCC) today arraigned Moses Samanja Audu,accused of operating a ‘Wonder Bank,” before theFederal High court in Kaduna.  The Commission alleged he operated without license and under false presences.  

The Economic and Financial Crimes Commission (EFCC) today arraigned Moses Samanja Audu,accused of operating a ‘Wonder Bank,” before theFederal High court in Kaduna.  The Commission alleged he operated without license and under false presences.  

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According to the EFCC, Audu was charged along with his company, Miriam Moses Ventures Limited.  Hepleaded not guilty, following which defence counsel,Usman Ndaliman Ahmed told the court that he hadalready submitted an application for bail.

Justice Mohammed Shuaibu, presiding, immediately denied the existence of such an application before him.

The prosecuting counsel, Ms. Jijah Bwala informed thecourt that she was served with a motion for bail application right inside the courtroom and that she informed the defence counsel that she will need time to respond to it. While adjourning the case to May 17th, 2012, Justice Shuaibu urged the prosecution to line up its witnesses as the trial will commence on that day after hearing the bail application.

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Audu’s arrest followed a petition to the EFCC dated June 16th , 2010, from A. O. Agbola of CheakleyChambers on behalf of Mrs. Miriam Ines Rotman (nee Garcia Milla Jurado), a citizen and resident of TheNetherlands. The petitioner copied the Central Bank of Nigeria, CBN, on the fraudulent activities of Mr.Audu who had incorporated a wonder bank for the purpose of defrauding unsuspecting Nigerians and Mrs.Rotman, who was unwittingly made a director.

 “To our client’s chagrin, she discovered that Mr. Auduhas incorporated a business in Nigeria known as Miriam Moses Ventures (an amalgam of our client’s name and that of Mr. Audu), with our client’s name boldly listed as a Director and wife of Mr. Audu”, the petitioner said.

Agbola said that he had the instruction of his client to inform the EFCC that “Mrs. Rotman is not a partner, director or staff of Miriam Moses Ventures in any form whatsoever and she does not have and has never been involved in foreign exchange trading on behalf of the accused. Our client hereby disclaim any liability, whether criminal or civil, that may arise from the activities of Miriam Moses Ventures or Mr.Audu…… For the purpose of emphasis, our client is neither married to Mr. Audu nor is she carrying out any business on his behalf in Netherlands or any other part of the world”, he said.

Some documents also circulated entitled “Plan” issued by Mr. Moses Audu promised 100% return on any money invested in his business every 22 working days. The promise lured many honest and hardworking Nigerians to give their money to Moses Audu/ Moses Ventures.

Mr. M.A. Adegbite, Chairman, Implementation Sub-Committee of the Inter- Agency Committee on Illegal Fund Managers/ Wonder Banks’, on July 20, 2010 also wrote the EFCC on the activities of the Moses Ventures.

The one count charge reads, “That you, MosesSamanja Audu and Miriam Moses Ventures Limited, sometimes between 2010 and 2011, at Kaduna, within the jurisdiction of the Federal High Court transacted banking business by receiving deposits from the public, without a valid license from the central bank of Nigeria and thereby committed an offence punishable under section 2 (2) of the Bank and Other Financial Institutions Act, Cap B3, Vol.2, laws of the Federation of Nigeria, 2004”.

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