The Economic and Financial Crimes Commission (EFCC) has arraigned Taiwo Oluwadahunsola and Adebola Adetayo before the Special Offences Court sitting in Ikeja, Lagos State, for an alleged N999.9 million fraud.
Oluwadahunsola and Adetayo were arraigned by the EFCC on Thursday, March 23 alongside a company, Green Eagles Limited, before Justice O.O. Abike-Fadipe on a 19-count charge bordering on conspiracy to steal, stealing, money laundering, and offences in relation to issuance of dishonoured cheques to the tune of N999,950,000.
One of the counts read: “Taiwo Oluwadahunsola, Adebola Adetayo and Green Eagles Agribusiness Solution Limited, on or about 9th September, 2020 in Lagos, within the jurisdiction of this Honourable Court, conspired to commit felony, to wit: stealing of the sum of N946, 000,311.00 (Nine Hundred and Forty-six Thousand Three Hundred and Eleven Naira Only) property of Volition Capital Investment Staff (Eti-Osa) Cooperative Multipurpose Society Limited.”
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Another count read: “Taiwo Oluwadahunsola, Adebola Adetayo and Green Eagles Agribusiness Solution Limited, on about the 3rd November, 2020 in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to the use of Green Eagles Agribusiness Solution Limited the total sum of N50,000,000.00 (Fifty Million Naira) property of Volition Capital Investment Staff (Eti-Osa) Cooperative Multipurpose Society Limited.”
They, however, pleaded “not guilty” to the charges.
The prosecution counsel, Bilikisu Buhari, prayed the court for a trial date to enable the prosecution to prove its case against the defendants.
The counsel for the defendants, Williams Ugwu, however, informed the court of the bail applications for the defendants.
Moving the bail applications, he urged the court to grant them bail on liberal terms.
Justice Abike-Fadipe granted the defendants bail in the sum of N50 million, with two sureties in like sum.
The defendants were remanded at a correctional centre pending the perfection of the bail conditions.
The judge, therefore, adjourned the case till July 6, 2023, for trial.
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