Ex-Banker, Firm Arraigned In Lagos Over Alleged N150m Oil And Gas Investment Fraud

A former banker, Atoyebi Adeyemi Akande, was on Monday arraigned before a Federal High Court in Lagos alongside his company, Atadak International Limited, on charges of conspiracy and advanced fee fraud involving N150 million.
The arraignment, conducted by the Legal/Prosecution Department of the Force Criminal Investigation Department (ForceCID) Annex, Alagbon-Ikoyi, Lagos, took place before Justice Ibrahim Ahmad Kala.
Prosecuting counsel Morufu Animashaun told the court that the defendant, a resident of Orisunbare, Idimu, allegedly committed the offences between December 2021 and September 2022.
According to the prosecution, Akande defrauded his victim, Korode Segun, by falsely claiming he would invest N150 million in a purported oil and gas business.
In the two-count charge filed by the ForceCID, Atadak International Limited and Akande were accused of conspiring between December 2021 and September 2022 to obtain money by false pretence, contrary to Section 8(1) of the Advance Fee Frauds and Other Related Offences Act, 2006 (as amended).
The prosecution further alleged that the defendants, with intent to defraud, received N150,000,000 from Segun under the false representation that they operated a legitimate oil and gas company, an offence contrary to Section 1(1)(a) and punishable under Section 1(3) of the same Act.
When the charge was read, Akande pleaded not guilty.
Following the plea, the prosecutor requested a trial date and asked the court to remand the defendant in custody pending the determination of the case.
However, defence counsel J. O. Uttiti sought a short adjournment to enable him file and move a formal bail application on behalf of his client.
After reviewing the submissions of both counsels, Justice Kala granted the defence request for adjournment and adjourned the matter to December 11 for the commencement of trial and hearing of the bail application.
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