The Economic and Financial Crimes Commission (EFCC), on Thursday, March 16, arraigned a professor, Uche Chigozie Edwin, for an alleged N1.4 billion fraud before the Federal High Court sitting in Ikoyi, Lagos State.
Edwin was arraigned before Justice Nicholas Oweibo alongside his companies, Visionary Integrated Consulting Limited, NEMAD Associates Limited, and Revamp Global Enterprise, on an 11-count charge bordering on conspiracy, retention, and conversion of funds to the tune of N1,473,367,046.04.
One of the counts read: “ That you, Professor Uche Chigozie Edwin, Visionary Integrated Consulting Limited, Nemad Associates Limited, and Revamp Global Enterprise, sometime in 2021 in Lagos, within the jurisdiction of this Court, conspired amongst yourselves to use the sum of N1, 473,367,046.04 (One Billion, Four Hundred and Seventy-Three Million, Three Hundred and Sixty-Seven Thousand, forty-six Naira, Four Kobo), property of the Maize Growers, Processors, and Marketers Association of Nigeria (MAGPAMAN), which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit: fraud; and you thereby committed an offence, contrary to Section 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3) of the same Act.”
He, however, pleaded “not guilty” to the 11-count charge.
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Following his plea, the prosecution counsel, C.C.Okezie, asked the court for a trial date and also prayed that the defendant be remanded.
The defence counsel, Mobolaji Akintunde, in response, made an application for bail on behalf of his client.
Akintunde prayed the court to admit his client to bail and also for his remand in the EFCC custody pending the perfection of the bail if granted by the court.
Ruling, Justice Oweibo admitted the defendant to bail in the sum of N1 million and two sureties in like sum.
The judge ruled that the sureties must possess landed property within the jurisdiction of the court and show a tax clearance certificate of three months as well as their passport photographs.
The defendant was also ordered to deposit his passport with the court.
Justice Oweibo, therefore, adjourned the matter till June 27, 2023, for the commencement of trial.
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