Court To Commence Trial Of Ex-Company Director Arraigned For Stealing N251.6m

The Oyo State High Court sitting in Ibadan, presided by Justice Ladiran Akintola, has adjourned till November 4, for commencement of trial of Obakin Emmanuel Ajibola for fraud.

Recall on 12th September, THE WHISTLER reported that the suspect was arraigned by the Ibadan Zonal Command of the Economic and Financial Crimes Commission on four-count charges bordering on stealing to the tune of N251, 685, 000 from Lee Fakino Nigeria Limited.

According to the EFCC, the defendant was one of the two directors of the firm and signatory to the firm’s account that allegedly withdrew the sum from the firm without authorization from the Managing Director and Chief Executive officer, Akindele Fajemiyo.

Investigations by the Commission revealed that he allegedly removed the telephone numbers and email address of the MD/CEO of the firm from the banking details of Lee Fakino Nigeria Limited.

It was further alleged that he removed these contacts in order to stop notification alerts of transactions from going to the CEO before withdrawing from the account.

He allegedly withdrew the said sum from the account of the firm, which was money paid for works executed by Lee Fakino Nigeria Limited for the Lagos State Ministry of Agriculture between December 22, 2022, and March 9, 2023, without any notification received by the managing director.

Meanwhile, upon arraignment, he pleaded “not guilty” to the charges preferred against him by the EFCC.

At the resumption of the case on Monday, parties to the matter, including the victim of the crime, Fajemiyo, who is the first prosecution witness, were informed of an adjournment arrangement till November 4.

One of the charges read against the Ajibola says: “That you Obakin Emmanuel Ajibola, adult, male sometime in December, 2022 at Ibadan within the jurisdiction of this Honourable Court, did fraudulently steal the sum of N120, 500, 000.00 (One Hundred and Twenty Million, Five Hundred Thousand Naira) belonging to Lee Fakino Nigeria Limited, an offence of stealing contrary to Section 390(9) Criminal Code Law.”