Usman was arraigned alongside his company, Masha Allah International Resources Ltd., on a five-count bordering on obtaining money by false pretences and stealing.
He, however, pleaded not guilty to the charge.
Following his not-guilty plea, EFCC counsel, Mr Ahmed Yerima, prayed the court for a trial date to enable the prosecution team to assemble witnesses.
Yerima also prayed the court to remand the defendant to a custodial facility.
Defence counsel, Mr Jamiu Bashir, however, prayed the court to remand the defendant in EFCC custody.
Bashir told the court that defence was in the process of bringing a formal bail application before the court.
According to the EFCC, Usman deceitfully induced one Mr Abdullahi Dalhatu of Yarinya and Co. Farms Ltd. to pay N34.35 million into his Access Bank account on the pretext of giving him the dollar equivalent at the rate of N685 per dollar.
The commission said that the defendant knew that he was deceiving his alleged victim.
The EFCC also arraigned Usman before the same court on a separate four-count bordering on obtaining by false pretences and stealing.
It alleges that the defendant deceitfully obtained N67.6m through his Providus Bank account from one Mr Suleiman Bashiru on the pretext that he had the dollar equivalent and would give him at the rate of N675 per dollar.
The commission said that the defendant knew the representation to be false.
The EFCC also said that Usman collected $37,314 from one Mr Faisan Haruna, who he promised to give the naira equivalent, but failed.
The alleged offences contravene Sections 1 (1) (a) 1 (3) of the Advanced Fee Fraud and Other Related Offences Act of 2006, and Sections 278(1)(2)and 285(1) of the Criminal Law of Lagos State, 2015.
Justice Ismail Ijelu adjourned the case until June 19 for the commencement of trial. (NAN)
