EFCC Docks Man For Stealing N251.6m In Ibadan

The Ibadan Zonal Command of the Economic and Financial Crimes Commission, EFCC, has arraigned one Emmanuel Ajibola Obakin for allegedly stealing N251,685,000 from Lee Fakino Nigeria Limited.

Obakin was arraigned on Tuesday, September 12, 2023, before Justice Ladiran Akintola of the Oyo State High Court, sitting in Ibadan.

TheFact Daily gathers that Obakin, who was one of the two directors of Lee Fakino Nigeria Limited and signatory to the company’s account, sometime in December 2022 allegedly withdrew the above sum from Lee Fakino Nigeria Limited without authorization and consent of the Managing Director and Chief Executive Officer, Akindele Fajemiyo who is also signatory to the company’s account.

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Furthermore, the defendant is alleged to have removed the telephone numbers and email addresses of the MD/CEO of the company from the bank details of Lee Fakino Nigeria Limited, through which notification alerts of transactions were received to enable him to keep track of the account.

He afterward 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 Fajemiyo.

Upon arraignment, Obakin pleaded “not guilty” to the charges filed against him by the EFCC.

In view of his plea, prosecution counsel, Oyelakin Oyediran asked the court for a trial date and prayed the court to remand the defendant in the Correctional facility pending the determination of the case.

Counsel to the defendant, Ibrahim Lawal urged the court to admit his client to bail.

Justice Ladiran Akintola admitted the defendant to bail in the sum of N50 million and two sureties, preferably the wife and younger brother to the defendant, in like sum.

“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”, Justice Akintola ordered.

The court also ordered that the defendant provide the Court with his National Identification Slip and residential address.

The matter was then adjourned till October 23, 2023, for further hearing.

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