EFCC charges company director over alleged N251m theft

The Economic and Financial Crimes Commission’s Ibadan Zonal Command on Tuesday filed four charges against Obakin Ajibola in the Oyo State High Court in Ibadan regarding the alleged theft of N251,685,000 from the company Lee Fakino Nigeria Limited, where the accused had also served as a director.

The alleged act was allegedly committed by the defendant in Ibadan sometime in December 2022, according to a statement made by the anti-graft agency’s head of media and publicity, Wilson Uwujaren.

One of the two directors of the company and a signatory to its account, the defendant allegedly withdrew funds from the account without the knowledge or consent of Akindele Fajemiyo, the company’s managing director and chief executive officer, who is also a signatory to the account.

The MD/CEO of the company’s phone number and email address, which were removed from the bank account information for Lee Fakino Nigeria Limited so that Obakin could monitor the account and receive transaction alerts, were claimed to have been removed by Obakin.

According to the statement, “Obakin, subsequently withdrew the said sum from the firm’s account, which was money paid for works completed by Lee Fakino Nigeria Limited for the Lagos State Ministry of Agriculture between December 22, 2022, and March 9, 2023, without notifying Fajemiyo.”At his arraignment, Obakin entered a “not guilty” plea to the allegations made against him by the EFCC.In light of the defendant’s plea, the prosecution’s attorney, Oyelakin Oyediran, requested a trial date and a remand of the defendant to the correctional facility pending the outcome of the case.
Ibrahim Lawal, the defendant’s attorney, requested that his client be granted bail.The defendant was granted bail in the amount of N50 million by Justice Ladiran Akintola, along with two sureties, ideally the defendant’s wife and younger brother, in an equal amount.

In addition, “The sureties are to swear an affidavit of means, deposit their National Identification Slip with the court, and provide the court with adequate residential addresses.”

The defendant was also required to give the court his National Identification Slip and home address, the judge said.

For further hearing, the subject was postponed to October 23, 2023.