A Federal High Court sitting in Lagos yesterday remanded former Oyo State Commissioner for Trade, Investment and Cooperative, Kazeem Adedeji, at the Ikoyi prisons, over alleged fraud of N77 million.
Adedeji had been arraigned alongside two others, Yinka Fatoki and Kolawole Adewole, on a sixcount charge bordering on conspiracy and fraud.
The offences were said to contravene the provisions of sections 1(1), 1(3) (a) and 8 of the Advance Fee Fraud and Other Fraud Related Offences Act, Cap A6, Laws of the Federation, 2004.
All the three accused had pleaded not guilty to the charge.
The presiding judge, Justice Chukwujekwu Aneke, remanded the accused after hearing an application to that effect by the prosecutor, Mr. Effiong Asuquo.
Asuquo told the court that counsel to the accused, Mr. Bode Iranloye, had just served him a bail summons for his clients, stressing that he would require time to file a counter-affidavit in reply.
He added that it would be appropriate for the accused to be remanded in prison in the meantime.
Aneke consequently adjourned the case till October 8, for hearing of the bail application, but ordered the accused to be remanded in prison pending the determination of their bail.
In the charge, it was alleged that the fraud was committed in 2012 when Adedeji was a commissioner, as the Oyo State Government entered into a partnership agreement with the Bank of Industry, BOI, known as OYSG/ BOI Fund, to create a pool from which indigenous entrepreneurs could access credit facilities.
It was disclosed that both parties had made a contribution of N500,000,000 each, which amounted to N1 billion joint contributions in the project which was aimed at promoting micro and medium businesses in Oyo State.
The prosecution said Adedeji lodged the contributions into Enterprise Bank where his wife allegedly worked as an account officer, without the consent and approval of the state government.
After this, Adedeji was said to have conspired with others to obtain over N77 million from the fund which they allocated to non-existing companies such as Josh-Tolani Ventures, Tembenatil Ventures, Ojoo God's Grace Cooperative Society, Agric Preserve Company Limited and Adis Steel Work Limited.
The prosecution said it was discovered after its investigation at the Corporate Affairs Commission, CAC, that the said companies were non-existent.
Source: N77m fraud: Court remands ex-Oyo commissioner in prison (http://nationalmirroronline.net/new/n77m-fraud-court-remands-ex-oyo-commissioner-in-prison/)