Court To Rule On First Nation MD’s ₦1.7bn Alleged Fraud Case December
Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, has adjourned the judgement in the alleged N1.7 billion fraud case involving Kayode Odukoya, the Managing Director and Chief Executive Officer of First Nation Airways Limited.
The case centred around an alleged N1.7 billion fraud and includes charges of forgery, use of false documents, perjury, stealing, and obtaining credit by fraud.
Odukoya, along with First Nation Airways Limited and Belleview Airlines Limited, faces seven-count charges, contravening Section 85(1), 86(1), 278(1)&(b), 285(1), 313(1)(a) &(b), 361(1)(a)& (b), 363 (1), and 364(1) of the Criminal Law of Lagos State of Nigeria 2011.
One of the charges accuses Odukoya and First Nation Airways of obtaining credit fraudulently from Skye Bank Plc (now Polaris Bank Ltd) in August 2013. The prosecution alleges that they made the bank incur liability by presenting a Memorandum of Loss for a property in Ikeja GRA.
Another count accuses Odukoya, First Nation Airways Limited, and Bellview Airlines Limited of dishonestly converting over N1.7 billion belonging to Skye Bank Plc for their own use on October 7, 2016.
Odukoya pleaded “not guilty” to the charges, leading to the commencement of the trial. The prosecution, before closing its case on November 30, 2020, presented five witnesses and tendered several documents to prove the case against the defendants.
The defence, represented by counsel E.D. Onyeke subsequently applied for a no-case submission. However, the judge dismissed this submission on January 11, 2022, ordering Odukoya to open his defence.
The defendant, thereafter, defended himself in court, denying all allegations against him.
Following the conclusion of his defence, the court adjourned for the adoption of final written addresses.
In Tuesday’s proceedings, prosecution counsel Nnaemeka Omewa adopted the final written address of the prosecution, urging the court to find the prosecution’s case proven. Onyeke, representing the defence, also adopted the final written address and urged the court to discharge and acquit his client.
Justice Dada, after listening to both parties, adjourned the case till December 1, 2023, for judgement.
