The Economic and Financial Crimes Commission (EFCC) has arraigned Ene Queen Bamaiyi before Justice A.A. Halilu of the Federal Capital Territory High Court in Apo, Abuja, over the alleged misappropriation of ₦124 million out of ₦240.5 million entrusted to her for foreign currency exchange.
In a statement posted on its official X (formerly Twitter) account on Thursday, the EFCC stated that Bamaiyi was arraigned on October 2, 2025, on a single count of criminal breach of trust.
According to the Commission, Bamaiyi was given ₦240.5 million by one Bright Okubo for the purpose of converting it to US dollars. However, she allegedly diverted ₦124 million for her personal use, contrary to the intended purpose of the funds.
The charge partly reads:
“That you, Ene Queen Bamayi (female), sometime in May 2024, in Abuja, while being entrusted with the sum of ₦240,500,000 by one Bright Okubo for conversion to dollar equivalent, dishonestly converted ₦124,000,000 out of the said amount to your personal use, thereby committing an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Code.”
Bamaiyi pleaded not guilty to the charge.
During the court session, prosecution counsel Joshua Saidi informed the court of plans to call five witnesses and requested a date for trial. In response, defence counsel M.A. Attah, SAN, applied for bail on lenient terms, highlighting that Bamaiyi is a single mother of a two-year-old child.
Justice Halilu granted her bail in the sum of ₦30 million with two sureties in the same amount. The sureties must be civil servants not below Grade Level 14. Additionally, the judge ordered her to deposit her passport with the EFCC and remanded her to the Suleja Correctional Centre until she meets the bail conditions.
The trial was scheduled to continue on December 2 and 3, 2025.
Separately, the EFCC announced the arrest of 92 suspected internet fraudsters in Edo State. According to a statement shared Wednesday via its X handle, the arrests were made during a sting operation carried out by operatives of its Benin Zonal Directorate on Monday, September 29, 2025, in multiple locations across Benin City, based on credible intelligence about cybercrime activities.
