The Economic and Financial Crimes Commission (EFCC) today arraigned the Chairman of the Ondo State Oil Producing Area Development Commission (OSOPADEC), Adebowale Henry Ajimuda and four others before an Akure court on 13 counts of fraud, embezzlement and conspiracy to defraud the public of over N540million.
The Economic and Financial Crimes Commission (EFCC) today arraigned the Chairman of the Ondo State Oil Producing Area Development Commission (OSOPADEC), Adebowale Henry Ajimuda and four others before an Akure court on 13 counts of fraud, embezzlement and conspiracy to defraud the public of over N540million.
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The four others are Mann Omobayi Alli, Ikuomola Vincent Aghone, Mafolabomi Monday and Olayinka Olaitan Joseph.
The embezzlement of the funds, the EFCC told the Federal High Court, presided over by Justice Gloria Okeke, that the crime was executed in four instalments of First Bank of Nigeria Plc cheques:
• N150million on cheque HC8050863652;
• N75million on HC8050867481;
• N75million HC8050866673 and
• A fourth instalment involving N240million.
The EFCC said the conspirators perpetrated the fraud using forged OSOPADEC. They claimed that N300m of the funds went into the training of 3,000 ex-militants.
Prosecution counsel, Aso Larry Peters read the charges, to which the five pleaded not guilty.
Lead defence counsel, Banjo Ayeniji, told the court that he had filed a formal bail application for the accused persons. He observed that the offences which the accused are alleged to have committed are bail able and urged the court to grant them bail on liberal terms.
Mr. Peters opposed the application. He urged the court to take judicial notice of the evidence before it, and the fact that if granted bail, the accused persons might intimidate the prosecution’s witnesses.
Mr. Peters also told the court that the EFCC intended to file other charges against the accused persons before an Ogun State High Court, adding that releasing them on bail could jeopardize investigations.
Justice Okeke granted the accused persons bail in the sum of N1million each and one surety each in like sum. Each surety must not be less than a Director in the Federal Civil Service.
She adjourned until September 26, 2012, and ordered the accused persons to report to the Ondo State Commissioner of Police on the first Wednesday of every month.
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