The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, has arraigned Olamilekan Ismail Idris, Jumai Obalowu, and Otun Segun, over alleged N65.5 million fraud.
The defendants were arraigned before Justice Olubunmi Abike-Fadipe of the Special Offences and Domestic Violence Court sitting in Ikeja, Lagos, on a two-count charge bordering on stealing and conspiracy.
The EFCC said the trio allegedly converted N65, 521,000, proceeds from the sale of Mother Care toys and house wear souvenirs belonging to Mrs. Fumilayo Banire to personal use.
One of the counts reads: “That the defendants “sometime in Lagos in Ikeja Judiciary Division dishonestly converted to your own use the sum of N65,521,000 being proceeds of sale of Mother Care toys and house ware souvenirs, property of Mrs Fumilayo Banire.”
Another count reads: “That the defendants “conspired with intent to commit fraud” to convert the same sum.”
The offences are contrary to Section 278(2)(a) of the Criminal Law of Lagos State, 2017, and Sections 8(a) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Upon arraignment, the first defendant took his plea in English, while the second and third defendants pleaded in Yoruba.
However, all three pleaded not guilty.
Following the pleas, prosecution counsel, F.T. Giwa, sought a trial date and asked the court to remand the defendants pending trial. While counsel to the first defendant did not oppose the request, counsel for the second and third defendants indicated plans to file bail applications.
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