Judge Adebukola Olajide of the Federal High Court in Ibadan, Oyo State, has arraigned Lateef Jamiu Babatunde, Olanipekun Olawale Joseph, and Oyetunde Abioye Ibrahim. The Ibadan Zonal Command of the Economic and Financial Crimes Commission, EFCC carried out the arraignment.
A three-count allegation pertaining to conspiracy and diversion of 33.360 metric tons of cocoa beans valued at N97.578 million was brought against them on Tuesday, November 21, 2023.
Count one of the charges read: “That you, Lateef Jamiu Babatunde, Oyetunde Abioye Ibrahim, Wahab Yusuf Adisa (at large), Razaq Afeez Babatunde (at large), Ayobami Yusuf Bello (at large), Ibrahim Akin Fatai (at large) and Oladimeji Mutiu Olaitan (at large) on or about the 21st December 2022 at Ibadan, within the jurisdiction of this Honourable Court, conspired to fraudulently convert 33.360 metric tonnes of Cocoa Beans valued at N97,578,000.00 (Ninety-Seven Million, Five Hundred and Seventy-eight Thousand Naira) belonging to Olam Nigeria Limited, and thereby committed an offence of conspiracy to commit a felony, to wit: stealing by conversion, contrary to Section 516 of the Criminal Code, Cap 38, Laws of Oyo State, 2000.”
Another Charge read: “That you, Olanipekun Olawale Joseph on or about the 24th December 2022 at Ibadan, within the jurisdiction of this Honourable Court, received 33.360 metric tonnes of stolen Cocoa beans valued at N97,578,000.00 (Ninety-Seven Million, Five Hundred and Seventy-eight Thousand Naira) belonging to Olam Nigeria Limited, and thereby committed an offence of receiving stolen property contrary to Section 427 of Criminal Code Law of Oyo State 2000.”
Following the reading of the allegations, the defendants entered not-guilty pleas, prompting Damilare Odemuyiwa, the prosecution’s attorney, to request a trial date from the court. In addition, he begged the court to hold the accused in a correctional facility until their trial date.
Alabi Ogor, the defendants’ attorney, notified the court about the bail request that was submitted. The accused were granted bail of N10 million apiece by Justice Olajide and two sureties in an equivalent amount.
The judge ruled that the sureties had to be employed for a profit and show proof of three years’ worth of taxes paid within the court’s jurisdiction, including land records.
Additional requirements for granting bail included submitting passport photos and providing the court with verified residential and office addresses. In addition, he mandated that the suspects remain under EFCC custody until their bail requirements were fulfilled.
The start of the trial was postponed until February 19, 2024.
According to a trustworthy source, the defendants were detained in response to a petition alleging that they had diverted and fled with 33.360 metric tons of cocoa beans that belonged to Olam Nigeria Limited.
They were allegedly given permission to deliver the aforementioned products to Tincan Port Apapa, Lagos State, between December 21 and December 24, 2022, by their employer, Isiaka Saheed, Managing Director of Sidoclear Services Nigeria.
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