Obakin Ajibola was charged on Tuesday by the Economic and Financial Crimes Commission’s Ibadan Zonal Command with four counts relating to alleged theft of N251,685,000 from a company called Lee Fakino Nigeria Limited, where the accused had also served as a director.
The defendant was said to have committed the alleged offence in Ibadan sometime in December 2022, according to a statement made by Wilson Uwujaren, the anti-graft agency’s head of media and publicity.
Akindele Fajemiyo, the company’s managing director and chief executive officer, who is also a signatory to the account, was said to be one of the company’s two directors and a signatory to the account. It is alleged that the defendant withdrew money from the account without Fajemiyo’s knowledge or consent.
In order to be able to monitor the account, Obakin allegedly deleted the MD/CEO of the business’s phone number and email address from Lee Fakino Nigeria Limited’s bank information. These details were used to get transaction alerts and notification alerts.
A portion of the statement reads, “Obakin, subsequently withdrew the said sum from the firm’s account, which was money paid for works completed by Lee Fakino Nigeria Limited for the Lagos State Ministry of Agriculture between December 22, 2022, and March 9, 2023, without notifying Fajemiyo.”In response to the accusations brought against him by the EFCC, Obakin entered a “not guilty” plea at his arraignment.In light of the defendant’s plea, the prosecution’s attorney, Oyelakin Oyediran, requested that the defendant be sent to the correctional institution while the case was being resolved and asked the court for a trial date.
Ibrahim Lawal, the defendant’s attorney, pleaded with the judge to approve the defendant’s request for bail.The defendant was granted bail by Justice Ladiran Akintola in the amount of N50 million with two sureties, ideally the defendant’s wife and younger brother, in an equal amount.
Additionally, “The sureties are to swear an affidavit of means, deposit their National Identification Slip with the court, and provide the court with adequate residential addresses.”
The offender must also give the court his National Identification Slip and residence, the judge further ruled.
For a second hearing, the case was continued until October 23, 2023.