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JUDICIARY

N2bn Scam: Court Adjourns Trial of Illegal Fund Managers to July 12

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Tony Obiechina, Abuja

A Federal High Court sitting in Abuja has adjourned the trial of Ovaioza Yunusa who was alleged to be involved in a scam of N2bn to July 12, 2023.

The presiding Judge, Justice Gladys Olotu adjourned the case because the defense parties failed to appear before the court when the matter came up Tuesday.

The Federal Government had sued Ovaioza and her company, Ovaioza Farm Produce Storage Business (OFPSB) on charges bordering on Advanced Fee Fraud.

Ovaioza along with Imu Yunusa and Goodness Omeiza were alleged to be operating as fund managers without reg­istration by the Securities and Exchange Commission (SEC) among others.

The SEC had in March 2022 sealed up the 27 Abeokuta Street, Garki Abuja office of the compa­ny on suspicions of illegally col­lecting money from the investing public to the tune of N2bn while not registered with the Commis­sion.

In the five count charge brought against the company and its promoters by the Feder­al Republic of Nigeria, they were alleged to have on or between the year 2020 and 2022 within the ju­risdiction of the honourable court did commit a felony to wit: with common intent conspired among themselves together with their staff to do an illegal act.

They were alleged to lure and offer for subscription an unregistered collective invest­ment scheme valued over N2bn to the unsuspecting general public including Umejiaku Chi­kodili Crystal, Omolabake Ale, Dr. Obi Sandra P., Nnaemeka Franklin Ugwoke, Fonon Ismai­la Malum, Kelechi Anayo, Nkiru Onyima, and others.

The charge reads, “That you Imu Yunusa, Good­ness Omeiza and Ovaioza Farm Produce Storage Business; all of house No. 27 Abeokuta Street, Area 8 Garki, on or between the year 2020 and 2022 within the jurisdiction of this honourable court did commit a felony to wit: lured and offered for subscrip­tion an unregistered collective investment scheme valued over N2 billion to the unsuspecting general public including Ume­jiaku Chikodili Crystal, Omola­bake Ale, Dr. Obi Sandra P., Nnae­meka Franklin Ugwoke, Fonon Ismaila Malum, Kelechi Anayo, Nkiru Onyima, and others. You thereby committed an offence contrary to and punishable un­der Section 54 of the Investments and Securities Act, 2007.

“That you Imu Yunusa, Good­ness Omeiza and Ovaioza Farm Produce Storage Business; all of house No. 27 Abeokuta Street, Area 8 Garki, on or between the year 2020 and 2022 within the jurisdiction of this honourable court did commit a felony to wit: conspiracy of forming a com­mon intention amongst your­selves together with your staff to do an illegal act – diversion of investment funds valued over N2 billion belonging to the investing public including, Umejiaku Chi­kodili Crystal, Omolabake Ale, Dr. Obi Sandra P., Nnaemeka Franklin Ugwoke, Fonon Ismai­la Malum, Kelechi Anayo, Nkiru Onyima, and others. You thereby committed an offence contrary to and punishable under Section 516 of the Criminal Code Act, laws of the Federation of Nige­ria, 2004.

JUDICIARY

Woman in Court for Allegedly Damaging N2.5m Shop

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One Mrs Subomi Kalejaye, on Thursday, appeared before an Iyaganku Magistrates’ Court, Ibadan, for allegedly damaging a shop worth N2.5 million.

Kalejaye, whose address was not provided, is charged with malicious damage and conduct likely to cause breach of peace.

She, however, pleaded not guilty.

The prosecutor, Sgt.

Samuel Owolabi, told the court that the defendant committed the offences on Dec.
  9,  about 11.49 a.m. at Jericho area of Ibadan.

Owolabi said that the defendant maliciously damaged a shop belonging to one Ajomale Ibrahim.

He added that the defendant conducted herself in a manner likely to cause breach of peace by engaging in the act.

According to him, the offences contravene Sections 249(d) and 451 of the Criminal Laws of Oyo State, 2000.

The Magistrate, Mrs Gladys Oladele, granted the defendant bail in the sum of N500, 000 with two sureties in like sum.

Oladele adjourned the case until Jan. 27, 2025, for hearing. (NAN)

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JUDICIARY

Woman Arraigned for Alleged N6.8m Theft

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Court Sentences Applicant to 6 Months in Prison for Stealing Cell Phone
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A 41-year-old woman, who allegedly stole N6.8 million from a company, has appeared before an Ojo Magistrates’ Court in Lagos State.

Irene Onyechi appeared before the Magistrate, Mrs O. M. Ogun, on a count charge of stealing.

She, however, pleaded not guilty to the charge.

The prosecutor, Insp Esther Adesulu, told the court that the defendant committed the offence from June to September.

Adesulu said that the defendant stole  from the New Concept Pharmacy located at Ojo.

The alleged offence contravenes Section 287 of the Criminal Law of Lagos State, 2015.

The court granted the defendant bail in the sum of one million Naira with two sureties in like sum

It adjourned the case until Jan.

16, 2025 for mention. (NAN)

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JUDICIARY

Alleged N110bn Fraud: Court Admits ex-Kogi Governor to N500m Bail

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A Federal Capital Territory High Court on Thursday, admitted former Governor of Kogi , Yahaya Bello to bail in the sum of N500 million with three sureties in like sum.Justice Maryann Anenih had, on Dec. 10, refused the ex-governor’s bail application, saying it was filed prematurely.Delivering the initial ruling, she said, having been filed when Bello was neither in custody nor before the court, the application was incompetent.

There was, however room for the governor’s lawyers to file a fresh application for bail and apply for hearing date.
The former governor is facing an alleged money laundering trial to the tune of N110bn, along with two others.He had pleaded not guilty to the 16-count charges brought against him by the Economic and Financial Crimes Commission.
At the resumed hearing on Thursday , Counsel for the former governor, Joseph Daudu, SAN, informed the court that the defence counsel had filed a further affidavit in response to the counter affidavit filed and served by the prosecution counsel.He applied to withdraw the further affidavit, saying, “We do not want to make the matter contentious.”There was no objection from the prosecution counsel, Olukayode Enitan, SAN. The court, therefore, granted the application for withdrawal, striking out the further affidavit.Daudu, also informed the court that discussions had taken place with the leader of the prosecution counsels, resulting in an agreement to ensure a speedy trial.In light of this understanding, Daudu urged the court to grant the bail application.He further requested that if the court would graciously grant the Defendant bail, the court should kindly review the bail conditions for the 1st, 2nd, and 3rd defendants.He urged the court to broaden the scope of properties to be used as bail sureties to include locations across the Federal Capital Territory (FCT), rather than limiting the location solely to Maitama.The prosecution counsel, Enitan SAN, acknowledged that Daudu SAN had been in talks with the prosecution team.In accordance with the Rules of Professional Conduct (RPC), the EFCC Counsel gave assurance of their cooperation in expediting the trial.He said, “I confirm the evidence given by the distinguished member of the bar that is leading the Defence, J.B. Daudu, SAN, that he has been in conversation with the leader of the prosecuting team.“It is legal tradition that we should cooperate with members of the bar when it does not affect the course of justice.”We have decided not to make this contentious, bearing in mind that no matter how industrious the defence counsel might be in pushing forward the application for bail and no matter how vociferous the prosecution counsel can argue against the bail application, your lordship is bound by your discretion to grant or not to grant the application.“We are therefore leaving this to your lordship’s discretion.”Delivering her ruling, Justice Anenih acknowledged that the offence Bello was charged with was a bailable one and granted the ex-governor bail in the sum of N500 million, with three sureties in like sum.The sureties must be notable Nigerians with landed property in Maitama, Jabi, Utako, Apo, Guzape, Garki and Asokoro.Bello was also asked to deposit his international passport and other travel documents with the court.He is to remain in Kuje Correctional Centre until the bail conditions are met.Daudu also prayed for the variation of the 2nd defendant ‘ bail condition.Z.E Abbas, counsel for the third defendant filed a motion on Dec. 17 for variation of bail conditions and urged the court to grant the application.This variation is based on landed property which earlier restricted them to only Maitama.The prosecution did not object.The judge granted their prayers and granted the property location as Yahaya Bello ‘s.The second and the third defendants were earlier admitted to bail in the sum of N300m each with two surgeries in.like sum with property at Maitama.The case was adjourned until Jan. 29. (NAN))

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