EFCC arraigns businessman over alleged N46m fraud
For allegedly defrauding Flour Mill Plc of the sum of N46 million, the Economic and Financial Crimes Commission (EFCC) has arraigned a businessman, Ola Lawal, before a Federal High Court sitting in Lagos.
Lawal was arraigned alongside his company, DCAN Oil and Gas Limited before Justice Chuka Obiozor on a two-count charge bordering on fraudulent transfer of the sum of N46 million from the Flour Mills Nigeria Plc.
The EFCC prosecution counsel, Mr. M.K. Hussan, told the court that the defendant committed the offence on June 24, 2019.
According to him, the defendant transferred N46 million to his company account number 1002792889 domiciled in United Bank of Africa (UBA) Plc.
The anti-graft commission said the offences are contrary to sections 2 and 15(2)(d) of Money Laundering (Prohibition) Act, 2011 (As Amended) and punishable under Section 15(2)(3) of the same Act.
Following his plea of not guilty, the prosecutor asked the court for a trial date and prayed the court that the defendant be remanded in prison custody.
Responding to his submission, the defendants’ counsel, Mr. Godwin Dick, informed the court that he was not opposing the trial date. He however, prayed the court to allow him to move his client’s bail application. He said that the application was filed and served on the prosecution since August.
He urged the court to take his client’s bail application as bail is at the court’s discretion and that since the prosecution failed to file and serve its response.
Ruling on their submission, Justice Obiozor queried the prosecution for not responding to the application and adjourned the matter till October 15, 2019 for hearing of the defendant’s bail application and commencement of his trial.
The judge, therefore, ordered that the defendant be remanded at the EFCC’s custody and ordered the prosecution to come with its witness(s) for trial of the matter.