EFCC Arraigns Former Punch Executive Director, Azu, Other For Alleged N350m Fraud

•Accused of Using Forged Documents to Obtain Loan in Keystone, Wema Banks

Azubike Ishekwene

EFCC Arraigns Former Punch Executive Director, Azu, Other For Alleged N350m Fraud

•Accused of Using Forged Documents to Obtain Loan in Keystone, Wema Banks

The Economic and Financial Crime Commission (EFCC) today, arraigned a former Executive Director of the Punch Newspaper, Azubike Ishekwene and one Olalekan Abdul, before anIkeja Special Offences Court over alleged conspiracy, forgery and fraud of N350 million fraud.

Azu and his co-defendant, Abdul were arraigned before Justice Mojisola Dada led-court, on 18 count-charge of the offences.

The EFCC in a charge marked ID/11126c/2019, alleged that Azu, Abdul and Adeyinka Adewale and Morakinyo Bolanle, who were said to be at large, committed the said offences between 2010 and 2019.

The EFCC alleged that the defendants had April 6, 2018, with intent to defraud and unlawful Authority forged a Board Resolution of Cleanserve Integrated Energy Limited with was used to open accounts in Keystone Bank and Wema Bank.

The EFCC alleged that Abdul had sometimes in December, 2010 in Lagos, with intent to defraud, obtained credit facility for Cleanserve Integrated Energy Solution in the sum N350.000.000.00 (Three Hundred and Fifty Million Naira) by false pretence from Wema Bank  by falsely representing to them that the Board Resolution of Cleanserve Integrated Energy Solution Limited dated December, 14, 2010 is genuine which representation.

The offences according to the prosecutor, Mr. Muhammad Idris, are contrary to sections 365, 370, 363, 335(1) and 370 of the criminal laws of Lagos state of Nigeria, 2015.

And sections  1(3) of the Advance Fee Fraud and Related Offences Act No. 14 of 2006. 

Azu and Abdul pleaded not guilty to the charges.

Following their plea of not guilty, Idris urged the court to remand them in the custody of the Nigerian Correctional Services, pending the determination of the charge against them.

However, the defendants lawyers, Dr. Muiz Banire and Olumide-Fusika both Senior Advocates of Nigeria (SANs) urged the court to allow their clients to go home till Friday, when their bail applications shall be determined.

On Adeyinka Adewale, one of the defendants said to be at large, his counsel, Olumide-Fusika (SAN) told the court that he was out of the country as at the time when the matter was instituted.

Muiz Banire appears for the first defendant while Olumide-Fusika represented the second defendants and a defendant, Adeyinka Adewale who was said to be at large.
EFCC Counsel, Muhammad Idris informed the court that the charges has been amended due to absence of the third defendants in the previous charges.
He urged the court to issue warrant of arrest against him and take the plea of the others.
In a counter reaction, Olumide-Fusika told the court that Adeyinka Adewale was out of the country as at the time when the matter was instituted.
He urged the court to grant him leave to appear in the next adjourned date.

After listened to the submission of counsel, Justice Mojisola Dada granted the prayer of the defense team and adjourned till January 31, 2020, for ruling on the bail application