The Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC), on Thursday, arraigned the duo of Taiwo Oluwadahunsola and Adebola Adetayo before Justice O.O. Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos, following their alleged involvement in N999,950,000.00 fraud.
Oluwadahunsola and Adetayo were arraigned alongside a company, Green Eagles Limited, 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 N999.9million.
One of the counts reads: “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.”
Another count reads: “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.”
When the charge was read to the defendants, they pleaded “not guilty” to the offence.
The prosecuting EFCC lawyer, Bilikisu Buhari, prayed the court for a trial date to enable the prosecution to prove its case against the defendants.
But the lawyer to the defendants, Williams Ugwu, informed the court of the bail applications for his clients.
Moving the bail applications, Ugwu urged the court to grant them bail on liberal terms.
Justice Abike-Fadipe later granted bail to the defendants 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 case was adjourned till July 6, 2023 for trial.