Court to commence trial in alleged N251.6m theft Nov 4

Obakin Ajibola, the defendant

An Oyo State High Court, sitting in Ibadan has adjourned till November 4, 2023, hearing in a case of alleged stealing preferred against Obakin Ajibola.

Trial judge is Justice Ladiran Akintola.

Ajibola is standing trial on four -count charges bordering on stealing to the tune of N251. 685million.

The charge was brought against him by the Economic and Financial Crimes Commission, EFCC.

One of the charge reads: “That you Obakin Ajibola, adult, male sometime in December, 2022 at Ibadan within the jurisdiction of this court, did fraudulently steal the sum of N120. 5million belonging to Lee Fakino Nigeria Limited, an offence of stealing contrary to Section 390(9) Criminal Code Law.”

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At the resumption of the case on Monday, parties to the matter, including the victim of the crime, Akindele Fajemiyo, managing director and chief executive officer of Lee Fakino Nigeria Limited, who is the first prosecution witness, were informed of an adjournment till November 4, 2023.

Ajibola was arraigned on September 12, 2023, before Justice Akintola on four -count charges bordering on alleged stealing of N251. 6million belonging to a firm, Lee Fakino Nigeria Limited.

The defendant, who was one of the two directors of the firm and signatory to the firm’s account, allegedly withdrew the above sum from the firm without authorization and consent of the managing director and chief executive officer, Akindele Fajemiyo.

EFCC said investigations revealed that the defendant allegedly removed the telephone numbers and email address of the MD/CEO of the firm from the banking details of Lee Fakino Nigeria Limited, through which notification alerts of transactions were received, to enable him keep track of 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.

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


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