Photo of man arrested by EFCC over N50m fraud

The EFCC, on October 11, arraigned one Wahab Olawale Amoo and his company, Wahab Amoo and Sons Nigeria Limited before Justice Adedayo Akintoye of the Lagos State High Court, sitting in Igbosere o-count charge bordering on four counts bordering on Conspiracy, Forgery and Obtaining by False Pretence to the tune of N50million.

The accused person allegedly conspired with his company, the 2nd accused person, to defraud the complainant Fidelity Bank Plc of the sum of Fifty Million Naira (N50, 000, 000. 00) only by using forged documents to secure a loan facility through a property which was under caveat at the Land Registry, Lagos State. He pleaded not guilty to the charges preferred against him.

In view of his plea, the prosecution counsel Fadeke Giwa asked the court for a trial date and also requested that the defendant be remanded in prison custody. However, the defense counsel Eric Uteh told the court that he served the prosecution the bail application for his client, but Giwa said she was served in court and would need time to reply.

Justice Akintoye remanded the accused person in prison custody pending hearing of bail application and subsequently adjourned the matter to October 19, 2016.