EFCC prices Muyiwa Akinyemi, Amangbo Stephen, 3 others over N4.3bn fraud

The Financial and Monetary Crimes Fee (EFCC) has charged a business financial institution and 4 different defendants on the Ikeja Particular Offences Courtroom, Lagos over alleged a ₦4.3 billion fraud.

The opposite defendants named within the cost embrace Muyiwa Akinyemi, Amangbo Stephen, Gesos International Service Restricted, and Fedat International Restricted.

When the matter was known as on Monday, not one of the defendants was current in courtroom, nor was any authorized illustration made on their behalf.

Consequently, the presiding choose, Justice Rahman Oshodi, adjourned the case till April 21, 2026, for the arraignment of the accused individuals.

EFCC counsel, Temitope Banjo, who appeared in courtroom, expressed shock on the absence of the defendants, informing the courtroom that every one events had been duly served with the cost and different courtroom processes. He additional disclosed that the second and third defendants had been conscious of the proceedings however had been at present at massive.

“My Lord, the second and third defendants are on the run. We’re nonetheless making efforts and gathering intelligence on their whereabouts,” the prosecutor acknowledged, stressing that their absence was not on account of a scarcity of discover.

Mr. Banjo subsequently requested an adjournment to permit the fee to file the mandatory functions to formally show service on the defendants. Justice Oshodi granted the request and set April 21 for the arraignment.

In line with the cost sheet, the defendants are going through a four-count cost that features conspiracy, stealing, cash laundering, and retention of proceeds of crime.

The alleged offences had been mentioned to have been dedicated between September 14, 2022, and March 20, 2023, in Lagos.

In one of many counts, the EFCC alleged that the defendants fraudulently transformed and stole the sum of ₦4.3 billion belonging to Vitality Defend Petrochemical Restricted.

The anti-graft company additionally accused the defendants of conspiring to promote overseas trade above the charges stipulated by the Central Bank of Nigeria (CBN) and subsequently retaining and laundering the proceeds from the alleged unlawful transactions.

The fee additional claimed that the financial institution retained the sum in its account quantity NGN0991931102, an act it mentioned contravenes Part 17 of the EFCC (Institution, and many others.) Act, 2004.

The alleged offences, in keeping with the prosecution, additionally violate Sections 8 and 17(a) of the Advance Price Fraud and Different Associated Offences Act, 2006, in addition to Sections 285 and 332(1) of the Legal Regulation of Lagos State, 2015.

The case was adjourned for additional proceedings.