Date Published: 10/24/09

EFCC arraigns 2 directors, 2 ex-bankers over N621m fraud

The Economic and Financial Crimes Commission, EFCC, has arraigned two former bankers and a firm over a N600million fraud. They were arraigned at a Lagos High Court sitting in Ikeja. The former bankers are Hillary Amakor and Osondu Chimaokwu and the firm involved in the scam is Osdech Nigeria Limited. Both suspects were former employees of Finbank plc. While Amakor was an intern, Chimaokwu was a staff of the bank.

Their arraignment in Lagos also coincided with that of two serving federal directors in Abuja. They are Engr Suleiman Idris of the Federal Capital Development Authority,FCDA and Dr Olatunbosun Ayileka of the Federal Ministry of Works.

The two bankers were arraigned before Justice Mufutau Olokooba on a six count charge bordering on falsification of account to the tune of N600milion ( Six hundred million naira only). One of the charges read: “Hillary Amakor. Osondu Chimaokwu on or about the 31 st day of December 2008 at Lagos within the Ikeja Judicial Division of Lagos High Court with intent to defraud conspired to falsify Account No. 313430000173201 belonging to Osdech Nig. Limited with Finbank Plc Owerri”. They pleaded not guilty to all the six charges.

Odion Obioh held brief for Amakor while W.K. Amao appeared for Chimaokwu and Osdech Nigeria Limited. Both defence counsel prayed the court for an oral application for bail. This was opposed by the EFCC counsel: Ben Ubi. Ubi reminded the court that certain material evidence that may be needed in the application for bail should not be presented orally. The Judge agreed to this and ruled that written application should be made for bail. He also ruled that the suspects be reminded in Prison custody and adjourned hearing on the bail application till December 9 th , 2009.

In a related development, the Commission also

arraigned Engr. Suleiman Idris, a Deputy Director, FCDA, Abuja on a two court charge of fraud at the FCT High Court, Maitama, Abuja .

In one of the two count charges, Engr Idris was said to have on or about the 20 th day of November 2008 with intent to defraud, obtained the sum of N15 million from Gab O. C. Okpokwasili under the false pretence that the money would be used to obtain allocation of an outright purchase of three houses in Abuja for Dr. (Mrs) Virginia Anohu under the federal government sale of government houses in Abuja.

Investigation later showed that the accused obtained the money under false pretence contrary to section 1 (1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006.

Soon after EFCC counsel, Takon Ndifon, sought the leave of the court to prefer criminal charges against the accused person, he asked the court to read the count to the accused person. The accused pleaded not guilty to the two counts.

Counsel to the accused, Victor Okangbe then moved for oral application for bail. He pleaded with the court to grant the accused person bail as he was already on EFCC bail. He said the essence of bail was not to set the accused free but release him to sureties who are bound to produce him to face his trial at specific time and place. He cited the Supreme Court judgment on the case of Bamaiyi Vs State. He also cited the 1999 constitution to back his point that the accused was presumed innocent until proven otherwise.

Presiding judge, Justice Alade Toyinobo then admitted the accused to bail for N16 million, one surety with like sum and a senior civil servant who must be resident in Abuja .

The case was adjourned to January 20 , 2010

In the same manner, Dr. Olatunbosun Ayileka, a Deputy Director, Federal Ministry of works, was docked on a count charge of fraud and issuance of dud cheque.

He was arraigned before Justice O. A. Adeniyi of FCT High court Abuja for issuing a bounce cheque to the tune of N6.8million.

The one count charge reads “That you Olatunbosun Ayileka on or about the 18 th of August, 2008 in Abuja in the Abuja Judicial Division of the High Court of the Federal Capital Territory, did with the knowledge that you had sufficient funds in your account issued to one Michael Okafor, a Wema Bank cheque number 02374848 dated 18 th August, 2008 for the sum of N6, 800,000.00 (Six million eight hundred thousand naira only) which the said cheque when presented for payment within three months of issuance was dishonoured due to insufficient funds in your  account and thereby committed an offence contrary to section 1(1)(b) of the Dishonoured cheques (Offences) Act Cap D11 of the Federation of Nigeria 2004 and punishable under Section 1 (1)(b) (i) of the same Act”.

Though the accused pleaded not guilty to the charge, his counsel Barrister Kolawole Olowookere argued that his client be granted bail on self recognition.

The prosecution counsel, S.A Ugwuebulem, however, rejected the bail condition and further prayed the court for a stiffer one.

The Presiding judge, Justice Adeniyi granted the accused bail on the conditions that the surety must have a verifiable land in the FCT and N2 million in like sum.

The accused is however to be reminded in Kuje prison pending the fulfillment of the bail conditions. 

The case has been adjourned till November 11 th, 2009. All the suspects were docked on Thursday, October 22.