Three arraigned over N1billion Bank of Industry fraud


The Economic and Financial Crimes Commission, EFCC, Monday charged three men, Johnson Salako, Enoche Ugbabe and Enebeli Theophilus before an Ikeja High Court for allegedly stealing N1, 424 billion belonging to Bank of Industry.

However, two out of the three charged (Enoche Ugbabe and Enebeli Theophilus) for the offence were available for the arraignment before Justice Oluwatoyin Ipaye of a Lagos High Court, while Johnson Salako was arraigned in absentia.

Salako, who was not in court was said to have jumped the administrative bail granted him by the EFCC.

Enoche and Enebeli were arraigned on a five-count charge of conspiracy and stealing.

According to the prosecuting counsel, Babatunde Sonoiki, the accused were alleged to have “conspired to commit felony and stealing contrary to section 516 of the Criminal Code Law of Lagos State.”

They were also alleged to have “stole the sum of N1, 424, 774, 000 property of Bank of Industry (BOI)” by “falsely represented to the bank that the facility was meant to finance a project.”

The prosecution further alleged that the defendants, contrary to Section 467 of the Criminal code Law of Lagos State, also “forged a Certificate of Occupancy (C of O) of Lands Registry of Lagos State which you pledged as security to obtain the facility.”

Two title deeds were also alleged to have been forged and presented by the accused to the Bank of Industry to obtain the facility.

The accused however pleaded not guilty to the charge.

In response, the court ordered them to be remanded in prison custody pending the hearing of their bail applications.
The matter was adjourned till February 4, 2016.



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