The Economic and Financial Crimes Commission (EFCC) on Monday arraigned a businessman, Oladipo Akanle, and his company, Avalanche Trade 1307, before a Lagos State High Court sitting in Ikeja over the alleged theft of N23m mistakenly transferred into his Zenith Bank account.

The EFCC prosecutor, Mr. James Banjo, told the court that the money belonged to one Chinedu Iyizoba and was allegedly stolen by the defendants after it was erroneously transferred into Akanle’s account in January 2023.

Banjo said the alleged offence contravened Section 278(2)(a) of the Criminal Law of Lagos State, 2011.

Akanle, however, pleaded not guilty to the charge.Following the plea, Banjo asked the court to fix a trial date and remand the defendant in a correctional centre.

“In view of the not guilty plea of the defendant, we will be asking for a trial date. And also ask that the defendant be remanded in the Correctional Centre,” the prosecutor said.

Banjo further informed the court that the defence counsel, Lanre Ogunlese (SAN), had just served him with the defendant’s bail application.

Moving the application, Ogunlese urged the court to release Akanle to him, assuring the judge that he would ensure the defendant attended his trial.

The Senior Advocate told the court that Akanle had refunded N10m, leaving an outstanding balance of N13m.

He argued that the outstanding amount was N13m rather than N23m because the defendant had already made a part payment.

Ogunlese also made a personal appeal to the court, describing Akanle as a son to him.

He explained that the defendant’s father was his former schoolmate who died in a plane crash while travelling to Malawi.

According to the defence counsel, the defendant’s parents were family friends, and he had promised to personally handle the case when he was contacted.

Ogunlese further informed the court that Akanle had previously been arraigned before a magistrate’s court and was discharged.

He urged the court to exercise its discretion in favour of the defendant, assuring the judge that Akanle would not jump bail.

“The applicant is a young man, and we pray that the court exercises its discretion in favour of the applicant.”

In his ruling, Justice Ismail Ijelu granted the application and released Akanle to Ogunlese pending trial.

The judge directed the Senior Advocate to write an undertaking guaranteeing that he would produce the defendant in court on every trial date, unless otherwise directed.

“I have considered the application and the submission of counsel. I shall release the defendant to his lawyer, Mr Ogunlese.

“You shall write an undertaking to always produce the defendant for his trial,” Justice Ijelu ruled.

The court subsequently adjourned the case to November 30 for trial.