25th January, 2016
Henry Ojelu
The Economic and Financial Crimes Commission, EFCC, has arraigned four men before Justice Oluwatoyin Ipaye of a Lagos High Court over allegation of N1,424billion Bank of Industry’s fraud.
According to the prosecuting counsel, Babatunde Sonoiki, the accused were alleged to have ‘conspired to commit felony and steal contrary to section 516 of the Criminal Code Law of Lagos State. ‘
They were also alleged to have ‘stole the sum of N1, 424, 774, 000 property of Bank of Industry (BOI)’ by ‘falsely represented to the bank that the facility was meant to finance a project.’
The prosecution further alleged that the defendants, contrary to Section 467 of the Criminal code Law of Lagos State, also ‘ forged a Certificate of Occupancy (C of O) of Lands Registry of Lagos State which you pledged as security to obtain the facility.’
Two title deeds were also alleged to have been forged and presented by the accused to the Bank of Industry to obtain the facility.
The accused however pleaded not guilty to the charge.
The court however remanded them in prison custody pending the hearing of their bail applications.
The matter was adjourned till February 4, 2016.