Two Abuja-Based Businessmen In DSS Net Over Alleged Advance Fee Fraud, Terrorism Acts

Operatives from the Department of State Services (DSS) have apprehended two Abuja-based businessmen accused of defrauding major federal government contractors and engaging in acts of terrorism.

The suspected fraudsters and terrorism sponsors, identified as Abubakar Sheu and Ibrahim Isyaku Mahuta, are said to be in the custody of the security agency.

In addition, their 12 different bank accounts, where the alleged proceeds were deposited, have been frozen on the order of the Federal High Court in Abuja.

A court document leading to the freezing of their accounts revealed that the first suspect, Abubakar Sheu, used his two companies, A. A. Gano Ventures and A. A. Zaks Global Concept, to defraud several major contractors under various pretenses.

DSS claimed in the court documents that its preliminary investigation revealed that Sheu is a member of a criminal syndicate defrauding federal government contractors who bid for major federal contracts.

He was said to have used his two companies, A. A. Gano Ventures and A. A. Zaks Global Concept, in conspiracy with some top government officials in federal ministries, departments, and agencies to fraudulently obtain funds from unsuspecting contractors.

Additionally, the secret police alleged that fraudulently obtained funds were found in five different bank accounts domiciled in Ecobank Plc, First City Monument Bank (FCMB), Guaranty Trust Bank (GTB), and Sterling Bank Plc.

DSS claimed that the alleged fraudulent activities of the suspect, his two companies, and their cohorts constituted a threat to national security.

Based on the allegations against the suspect and the two companies, Justice Peter Lifu granted permission to the DSS to freeze the five bank accounts for 60 days to conduct thorough investigations.

The motion of the DSS before the Federal High Court, marked FHC/ABJ/CS/1033/2024, was brought under sections 5(3) and 81(1) of the Terrorism Prevention and Prohibition Act 2022 and was argued by lawyer Yunusa Idris Umar.

On his part, the second suspect, Ibrahim Isyaku Mahuta, and his company, Majmahuta Energy Company Limited, were accused of defrauding one Moses Drambi to the tune of N48.7 million under the pretext of shipping petroleum products from Ghana to Nigeria.

He was said to have used his company, Majmahuta Energy Company Limited, to carry out the alleged fraudulent activities and deposited funds in United Bank for Africa (UBA), Ecobank, and Providus Bank Limited.

The seven bank accounts where the money was found have been ordered frozen for 60 days by Justice Peter Lifu.

Justice Lifu agreed with DSS that freezing the seven bank accounts was necessary to unravel, arrest, and prosecute the perpetrators.

The motion of the DSS before the Federal High Court, marked FHC/ABJ/CS/1034/2024, was brought under sections 5(3) and 81(1) of the Terrorism Prevention and Prohibition Act 2022 and was argued by Yunusa Idris Umar.