EFCC arraigns two, company over alleged ₦‎999.9m fraud

The Economic and Financial Crimes Commission (EFCC) on Thursday arraigned the duo of Taiwo Oluwadahunsola and Adebola Adetayo before an Ikeja Special Offences Court for allegedly laundering the sum of N999 million.

One other company, Green Eagles Agribusiness Solution Limited, was also arraigned alongside the defendants, Oluwadahunsola and Adetayo on a 19-count-charge, bordering on money laundering, conspiracy to steal, stealing and offenses related to dishonored cheque.

“The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Thursday, March 23, 2023, arraigned the duo of Taiwo Oluwadahunsola and Adebola Adetayo before Justice O.O Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos for an alleged N999,950,000.00 fraud,” the EFCC tweeted.

“Taiwo Oluwadahunsola, Adebola Adetayo and Green Eagles Agribusiness Solution Limited, on or about 9th September, 2020 in Lagos, within the jurisdiction of this Honourable Court, conspired to commit felony, to with stealing of the sum of N946, 000,311.00 (Nine Hundred and Forty-six Thousand Three Hundred and Eleven Naira Only) property of Volition Capital Investment Staff (Eti-Osa) Cooperative Multipurpose Society Limited,” one of the counts reads.

“Taiwo Oluwadahunsola, Adebola Adetayo and Green Eagles Agribusiness Solution Limited, on about the 3rd November, 2020 in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to the use of Green Eagles Agribusiness Solution Limited the total sum of N50,000,000.00 (Fifty Million Naira) property of Volition Capital Investment Staff (Eti-Osa) Cooperative Multipurpose Society Limited,” another count reads.

They pleaded “not guilty” to the charges. The prosecution counsel, Bilikisu Buhari, prayed the court for a trial date to enable the prosecution to prove its case against the defendants.

Counsel for the defendants, Williams Ugwu, however, informed the court of the bail applications for the defendants. Moving the bail applications, he urged the court to grant them bail on liberal terms.

Justice Abike-Fadipe granted the defendants bail in the sum of N50 million, with two sureties in like sum. The defendants were remanded at a Correctional Centre pending the perfection of the bail conditions. The case was adjourned till July 6, 2023 for trial.