Court commences trial of suspect for alleged N251.6mn theft Nov 4

The Oyo State High Court, sitting in Ibadan will commence the trial of Obakin Emmanuel Ajibola on November 4, 2023, who is being prosecuted by Economic and Financial Crimes Commission (EFCC) on allegation of N251.6 million fraud.

The court fixed the date for the commencement of the trial of the suspect after the presiding Judge, Justice Ladiran Akintola, adjourned the case to November 4.

EFCC in a statement disclosed that Ajibola is standing trial on four-count charges bordering on stealing to the tune of N251,685,000, preferred against him by the Ibadan Zonal Command of the Commission.

EFCC in the statement narrated:

EFCC Nigeria
@officialEFCC
Alleged N251.6million Theft: Court Commences Trial November 4

Justice Ladiran Akintola of the Oyo State High Court, sitting in Ibadan has adjourned till November 4, 2023, commencement of trial in a case of alleged stealing preferred against Obakin Emmanuel Ajibola.

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Ajibola is standing trial on four-count charges bordering on stealing to the tune of N251,685,000 (Two Hundred and Fifty One Million, Six Hundred and Eighty Five Thousand Naira), preferred against him by the Ibadan Zonal Command of the Economic and Financial Crimes Commission, EFCC.

One of the charges reads: “That you Obakin Emmanuel Ajibola, adult, male sometime in December, 2022 at Ibadan within the jurisdiction of this Honourable Court, did fraudulently steal the sum of N120,500,000.00 (One Hundred and Twenty Million, Five Hundred Thousand Naira) belonging to Lee Fakino Nigeria Limited, an offence of stealing contrary to Section 390(9) Criminal Code Law.”

At the resumption of the case on Monday, parties to the matter, including the victim of the crime, Akindele Fajemiyo, managing director and chief executive officer of Lee Fakino Nigeria Limited, who is the first prosecution witness, were informed of an adjournment arrangement till November 4, 2023.

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Ajibola was arraigned on September 12, 2023 before Justice Akintola on four-count charges bordering on alleged stealing of N251.6million belonging to a firm, Lee Fakino Nigeria Limited. The defendant, who was one of the two directors of the firm and signatory to the firm’s account, allegedly withdrew the above sum from the firm without authorization and consent of the managing director and chief executive officer, Akindele Fajemiyo.

Investigations revealed that the defendant allegedly removed the telephone numbers and email address of the MD/CEO of the firm from the banking details of Lee Fakino Nigeria Limited, through which notification alerts of transactions were received, to enable him keep track of the account. He allegedly withdrew the said sum from the account of the firm, which was money paid for works executed by Lee Fakino Nigeria Limited for the Lagos State Ministry of Agriculture between December 22, 2022 and March 9, 2023 without any notification received by the managing director.
Upon arraignment, he pleaded “not guilty” to the charges preferred against him by the EFCC.