Habib Munkaila, a 33-year-old man, has appeared before an Accra Circuit Court for defrauding a trader of GHC120,000. Munkaila is alleged to have collected the money under the pretext of changing it into 6,855,000 CFA Francs but failed. Charged with defrauding by false pretences and dealing in foreign exchange without license, Munkaila has pleaded not guilty. The court presided over by Mr Samuel Bright Acquah has admitted the accused person to bail in the sum of GHC100,000 with three sureties. The matter has been adjourned to May 7, 2024. Inspector Shiela Tetteh, who held brief, narrated that the complainant Cecilia Ahemah is a trader who ply her trade between Accra and Lome. Prosecution said Munkaila was a foreign exchange dealer who operated on the 'black market 'at Tudu. The prosecutor told the court that in September 2023, the complainant needed CFA Francs to purchase goods from Lome in Togo. According to prosecution, the complainant contacted the accused person who assured her that he could change the money for her. Prosecution said the complainant gave Munkaila an amount of GHc120,000, equivalent to 6,855,000 CFA Francs. After a week, the prosecution said the complainant went to the accused person to collect the money so she could travel to Lome to purchase her goods. Prosecution said the accused person told the complainant to proceed to Lome and that he had transferred the money to one Mohammed in Lome to be given to her. On reaching Lome, the complainant met Mohammed who told her that he has not received any money from Munkaila. Prosecution said the complainant returned to Accra and Munkaila informed her that there was shortage of CFA Francs on the market, and that he had given the money to one of his clients to get the CFA Francs within one week. The court heard that the accused person failed to give the complainant the money as promised and kept postponing the delivery date. Prosecution said the complainant after waiting for six weeks, reported the matter to the Police and the accused perso n was arrested. The court was told that the accused person during investigation stated that he had invested the money into a business but declined to disclose the said business to the Police. Prosecution said the accused person refunded GHC30,000 to the Police which had since been released to the complainant. The prosecution said during police investigations, it became known that the accused person did not have a license to trade in Foreign Exchange. Source: Ghana News Agency