Obakin Emmanuel Ajibola was arraigned in court on Tuesday, September 12, 2023, before Justice Ladiran Akintola of the Oyo State High Court, sitting in Ibadan, by the Ibadan Zonal Command of the Economic and Financial Crimes Commission (EFCC) on a four-count charge bordering on stealing N251.685 million belonging to a firm, Lee Fakino Nigeria Limited.
Obakin allegedly committed the crime in December 2022.
The defendant, one of Lee Fakino Nigeria Limited’s two directors and a signatory to the company’s account, allegedly withdrew the above sum from Lee Fakino Nigeria Limited without the authorization and consent of the company’s Managing Director and Chief Executive Officer, Akindele Fajemiyo, who is also a signatory to the account.
Furthermore, the defendant was accused of removing the MD/CEO of the company’s phone numbers and email address from the bank details of Lee Fakino Nigeria Limited, through which notification alerts of transactions were initially sent to enable him to keep watch of the account.
Obakin then took the aforementioned sum from the firm’s account, which was money paid for work done by Lee Fakino Nigeria Limited for the Lagos State Ministry of Agriculture between December 22, 2022, and March 9, 2023, without notifying Fajemiyo.
One of the charges against the defendant read: “That you Obakin Emmanuel Ajibola, adult, male sometime in December 2022 at Ibadan within the jurisdiction of this Honourable Court, did fraudulently steal the sum of N120, 500, 000.00 (One Hundred and Twenty Million, Five Hundred Thousand Naira) belonging to Lee Fakino Nigeria Limited, an offence of stealing contrary to Section 390(9) Criminal Code Law.”
When the EFCC’s charges against him were read to him, Obakin pled not guilty.
In light of his plea, prosecuting attorney Oyelakin Oyediran requested a trial date and requested that the defendant be remanded in the detention facility pending the outcome of the case.
Ibrahim Lawal, the defendant’s counsel, petitioned the court to release his client on bond.
Justice Ladiran Akintola granted the defendant bail in the amount of N50 million, with two sureties in the same amount, preferably his wife and younger brother.
The sureties were required to swear an affidavit of means, deposit their National Identification Slip with the court, and furnish acceptable dwelling addresses to the court.
The suspect was also asked to submit the court with his National Identification Slip and residential locations.
The case was postponed until October 23 for additional consideration.
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