Adamawa business manager remanded for allegedly diverting company funds
A man from Yola North Local Government Area in Adamawa State is facing legal proceedings for allegedly diverting company funds for personal investment. Bashar Hamza, a former manager at BM Yelwa in Jimeta, has been charged with criminal conspiracy and theft.
Magistrate Dorcas Mavah of Chief Magistrate Court 2 ordered Hamza’s remand following his arraignment. He is currently being held at the Yolde Pate Correctional Facility.
According to reports, Hamza is accused of siphoning substantial amounts of money from BM Yelwa, as well as liquidating some personal assets. He allegedly amassed approximately N109 million, which he invested in a cryptocurrency venture that ultimately failed.
Prior to these allegations, Hamza had reportedly engaged in cryptocurrency trading and had achieved a profit of N30 million, which may have influenced his decision to misappropriate funds from his employer.
