Bizman Faces Alleged N80m Fraud


The police on Wednesday arraigned a businessman, Adeloye Olukemi, at the Federal High Court, Lagos, for allegedly defrauding Mr. Buba Okorodudu, chief executive of Cross Country Ltd of the sum of N80 million.

In a five-count charge, the police said that Olukemi and others at large, conspired at 2, Ebun St., Surulere, Lagos, and transacted financial business without a valid licence from the Central Bank of Nigeria (CBN), as prescribed by Law.

They added that Olukemi collected the N80 million under false pretence and as chairman of the company, AG Moeller Ltd., knowing and permitting that his office be used for the fraudulent purpose of obtaining the money.

The accused pleaded not guilty.

The prosecution counsel, Mr. Nkem Raphael, a police officer, urged the court to remand the accused and fix a date for trial.

Related News

Defence counsel, Ebun-Olu Adegboruwa, however, told the court that he had filed an application for bail and another application to quash the charge.

He said that the charge did not disclose any prima facie case against the accused person.

“The entire information is an abuse of court process. The counts in the statement of offences are prejudicial to the accused person’s right to a fair hearing,” he said.

Justice Okechukwu Okeke ordered that the accused be remanded in prison custody and adjourned the matter to March 7 for the hearing of all pending applications.

Load more