Court Remands Businessman Over Alleged N58.5M Fraud

Wooden gavel with justice scales and books on white background

 

 

 

 

A Federal High Court sitting in Lagos today remanded one Afolabi Islamiu  Olayinka in the custody of the Nigerian Correctional Centre, Ikoyi Lagos till  18th of November 2022, when his bail application would be heard.

Justice Abimbola Awogboro made the remand order following the arraignment of the defendant and his company, Bowofab Global Services Limited before the court on a four count charge of obtaining the sum of  N58,527,000.00 from one Casrod  Solution Limited under false.

The defendants were said to have perpetrated the fraud under the false pretenses of supplying thousands of litres of Petroleum Motor Spirit (PMS)also known as petrol and diesel to their victim  Ismael  Arisekola.

When the matter came up for arraignment today, the Prosecutor Mr. Chukwu Agwu from the Police Special Fraud Unit, Milverton Road, Ikoyi , Lagos , told Justice Awogboro that the prosecution has a four count charge pending before the court and urged the court to allow the charge to be read so that the defendants can take  their plea.

Consequently, the charge was read to the defendants and both pleaded not guilty to same.

Following the not guilty plea of the defendants, the Prosecutor,  Mr. Chukwu Agwu urged the court to fix a date for hearing of the matter and as well as remand  the first  defendant in the custody of the Nigerian Correctional Service.

However, Counsel to the defendant, told Justice Awogboro that he has a pending application for bail before the court which he said had been served on the prosecution.

But Agwu in his response to the defendants’ Counsel submission,  told the court that he had just been served in court earlier in the day and would need time to react to the bail application.

He also told the court that the bail application is not yet ripe for hearing.

Justice Awogboro after listening to both parties adjourned hearing of the bail application till 18th of November while the trial proper is to commence on December 5th .

According to the four count charge filed by Mr. Chukwu Agwu of the Police Fraud Unit, Milverton Road , Ikoyi,  Lagos, it was alleged that the first defendant,  Afolabi Islamiu Olayinka and BOWOFAB GLOGAL SERVICES LIMITED,  carrying on business in the name and style of BOWOFAB GLOBAL SERVICES LIMITED between July,2020 and December,2021 in Lagos, Lagos State did conspire amongst themselves  to commit felony to wit, Obtaining by False Pretences more than N58,527,000.00 from  one AFEEZ RUFAI ALEBIOSU ‘M and one ISMAEL  ARISEKOLA ‘  through your FIRST CITY MONUMENT BANK PLC Account Number: 7385488015, ZENITH BANK PLC ACCOUNT NO. 1016328126 and other bank accounts and thereby committed an offence contrary to and punishable under Section 8 (a) of the Advance Fee Fraud and Other Fraud Related Offences Act,2006.

Count two of the charge reads: That you AFOLABI ISLAMIU OLAVINKA ‘M’ and BOWOFAB GLOBAL SERVICES LIMITED, carrying on business in the name and style of BOWOFAB GLOBAL SERVICES LIMITED on or about December,2021 in Lagos, Lagos State within the jurisdiction of the Honourable Court did in Lagos, Lagos State within the jurisdiction of the Honourable Court with intent to defraud did obtain by false pretences the sum  more than N25, 527,000.00 through your FIRST CIRY MONUMENT BANK PLC Account Number: 7385489015, ZENITH BANK PLC ACCOUNT NO. 1016328126 and other bank accounts from CASROD SOLUTIONS LTD represented by one AFEEZ RUFA] ALEBIOSU ‘M on the understanding that you would supply several thousands of litres of Petroleum Motor Spirit (PMS) and Kerosene (DPK) to them, a representation you know to be faise and thereby committed an offence contrary to Secbon 1(1Kal, (0) and (c) of the Advance fee Fraud and Other Fraud Related Offences Act, 2006 No.14 of 2006 but punishable under Section 1(3) of the same Act

Count three : That you AFOLABI ISLAMIU OLAYINKA ‘M’ and BOWOFAS GLOBAL SERVICES LIMITED, carrying on business in the name and style of BOWOFAB GLOBAL SERVICES LIMITED on or about hily,2020 in Lagos, Lagos State within the jurisdiction of the Honourable Court did with intent to defraud did obtain by false pretences the sum of more than N33,000,000.00 through your FIRST CTY MONUMENT BANK PLC Account Number: 7385488015, ZENITH BANK PLC ACCOUNT NO. 1016328126 and other bank accounts from ISMAEL ARISEKOLA “M’ on the understanding that you would supply several thousands of litres of Petroleum Motor Spirit (PMS) and Kerosene (DP) to him, a  representation you know to be false and thereby committed an offence contrary to Section 1(1)a), (b) and (c) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 No.14 of 2006 but punishable under Section 1(3) of the same Act.

Count four of the charge reads: That you AFOLABI ISLAMIU OLAVINKA ‘M’ and BOWOFASB GLOBAL SERVICES LIMITED, carrying on business in the name and style of BOWOFAB GLOBAL SERVICES LIMITED on or about July,2020 in Lagos, Lagos State within the jurisdiction of the Honourable Court did with intent to defraud did directly or indirectly knowingly conceal the origin of more than N58,527,000.00(Fifty-Eight Million, Five hundred and Twenty-Seven Thousand Naira) through your FCMB Account Number: 7385488015, ZENITH BANK PLC ACCOUNT NO. 1016328126 and other bank accounts.

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