A man, Obakin Emmanuel Ajibola, was on Tuesday, September 12, 2023, arraigned in court by the Ibadan Zonal Command of the Economic and Financial Crimes Commission (EFCC) before Justice Ladiran Akintola of the Oyo State High Court, sitting in Ibadan, on a four-count charge bordering on stealing of N251.685 million belonging to a firm, Lee Fakino Nigeria Limited.
Thenewsbearer learnt that Obakin committed the alleged offence in December 2022.
The defendant, who was one of the two directors of Lee Fakino Nigeria Limited and signatory to the company’s account 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.
Furthermore, the defendant was accused of removing the telephone numbers and email address of the MD/CEO of the company from the bank details of Lee Fakino Nigeria Limited, through which notification alerts of transactions were initially being received to enable him keep track of the account.
Obakin, afterwards 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.
One of the charges against the defendant read: “That you Obakin Emmanuel Ajibola, adult, male sometime in December, 2022 at Ibadan within the jurisdiction of this Honourable Court, did fraudulently steal the sum of N120, 500, 000.00 (One Hundred and Twenty Million, Five Hundred Thousand Naira) belonging to Lee Fakino Nigeria Limited, an offence of stealing contrary to Section 390(9) Criminal Code Law.”
Obakin pleaded not guilty when the charges filed against him by the EFCC were read to him.
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 his wife and younger brother, in like sum.
The sureties were asked to swear an affidavit of means, deposit their National Identification Slip with the court and provide the court with adequate residential addresses.
Also, the court ordered that the defendant provide the court with his National Identification Slip and residential addresses.
The matter was adjourned till October 23 for further hearing.
