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Witness recounts how First Nation MD used forged documents to obtain loan

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FirstNation Airways CEO, Kayode Odukoya, middle, charged with fraud. PHOTO: NAN

A Lagos Special Offences Court, Ikeja was told yesterday how the Managing Director of First Nation Airways, Kayode Odukoya used false documents to obtained N3.4 billion and 2.4 million dollars loan from the defunct Skye bank now Polaris Bank.

The witness of the Economic and Financial Crimes Commission (EFCC), Partick Ifeanyi Ogwu yesterday told the court how Odukoya who he described as the alter ego of First Nation and Bellview Airlines misrepresented the facts that made Skye bank to release loan to him with forged documents.

Led-in-evidence by the prosecution counsel, Anselem Betram Ozioko, the witness told court that defendant obtained the loan between 2007 and 2012 which as at December 2016 accumulated to N3.4 billion and 2.4million dollars. Ogwu explained that defendant at the point of disbursement, provided the bank the document with the properties at Oduduwa way, GRA and Ladipo Bateye Street in Ikeja.

The witness also told the trial judge; Justice Mojisola Dada that the defendant (Odukoya) provided the bank with the collateral securities with institution. The witness further told court that the bank however instructed its solicitor to petition EFCC as regards the fraudulent act of the defendant. When the witness was asked on why he made statement to EFCC naming the two companies, First Nation and Bellview Airlines limited, he said, “ Bellview was in operation and started banking with Skye Bank since 2006 and upon being granted and withdrawal of their license it ceased to operate. First Nation Airlines came on board with the same alter ego of the first defendant.

Upon application to Skye bank, there was a memorandum of understanding wherein First Nation took over and assumed the indebtedness of Bellview and both have the same alter ego of the first defendant. The same alter ego gave his personal guarantee to all facilities.”

It would be recalled that EFCC is prosecuting Odukoya alongside FirstNation and Bellview Airlines on a four-count charge bordering on forgery, use of false documents, perjury and stealing. He was alleged to have committed the offences on March 21, 2013. It’s also alleged that on October 7, 2016, Odukoya stole N1.7 billion belonging to Skye Bank Plc.


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