The Ibadan Zonal Command of the Economic and Financial Crimes Commission, EFCC has arraigned the trio of Lateef Jamiu Babatunde, Olanipekun Olawale Joseph and Oyetunde Abioye Ibrahim before Justice Adebukola Olajide of the Federal High Court sitting in Ibadan, Oyo State.
They were arraigned on Tuesday, November 21, 2023 on a three-count charge bordering on conspiracy and diversion of 33.360 metric tonnes of Cocoa beans worth N97.578 million.
Count one of the charges read: “That you, Lateef Jamiu Babatunde, Oyetunde Abioye Ibrahim, Wahab Yusuf Adisa (at large), Razaq Afeez Babatunde (at large), Ayobami Yusuf Bello (at large), Ibrahim Akin Fatai (at large) and Oladimeji Mutiu Olaitan (at large) on or about the 21st December, 2022 at Ibadan, within the jurisdiction of this Honourable Court, conspired to fraudulently convert 33.360 metric tonnes of Cocoa Beans valued at N97,578,000.00 (Ninety-Seven Million, Five Hundred and Seventy-eight Thousand Naira) belonging to Olam Nigeria Limited, and thereby committed an offence of conspiracy to commit felony, to wit: stealing by conversion, contrary to Section 516 of the Criminal Code, Cap 38, Laws of Oyo State, 2000.”
Another Charge read: “That you, Olanipekun Olawale Joseph on or about the 24th December, 2022 at Ibadan, within the jurisdiction of this Honourable Court, received 33.360 metric tonnes of stolen Cocoa beans valued at N97,578,000.00 (Ninety-Seven Million, Five Hundred and Seventy-eight Thousand Naira) belonging to Olam Nigeria Limited, and thereby committed an offence of receiving stolen property contrary to Section 427 of Criminal Code Law of Oyo State 2000.”
When the charges were read, the defendants pleaded not guilty, which made the prosecution counsel, Damilare Odemuyiwa, to ask the court for a trial date.
He also prayed the court to remand the defendants in a Correctional Centre pending the date of their trial.
However, counsel to the defendants, Alabi Ogor, informed the court of the bail application filed before the court.
Justice Olajide granted the defendants bail in the sum of N10 million each and two sureties in like sum.
The judge said that the sureties must be gainfully employed and also provide evidence of three years tax payments, including land documents, within the jurisdiction of the court.
Others bail conditions were submission of passport photographs, residential and office addresses which must be verified by the court.
He further ordered that the defendants be remanded in the EFCC custody pending the fulfilment of their bail conditions.
The matter was adjourned until February 19, 2024 for commencement of trial.
Thenewsbearer learnt that the defendants were arrested based on a petition accusing the defendants of diverting and absconding with 33.360 metric tonnes of Cocoa beans belonging to Olam Nigeria Limited.
They were reportedly authorized by their employer, Isiaka Saheed, Managing Director of Sidoclear Services Nigeria, to deliver the said goods at Tincan Port Apapa, Lagos State between December 21 and December 24, 2022.
