EFCC arraigns four for diverting Bank of Industry loan

The Economic and Financial Crimes Commission on Monday arraigned four men who allegedly diverted N1.4bn which they obtained from the Bank of Industry under the false pretence that they were investing the money.

The accused, who were charged before Justice Oluwatoyin Ipaye of a Lagos State High Court in Ikeja, are Johnson Salako, Toritseju Jemide,  Enoche  Ugbabe and Enebeli Theophilus.

The accused were charged with five counts bordering on felony, stealing and forgery contrary to sections 467 and 516 of the Criminal Code Law of Lagos State.

The EFCC, in one of the charges, alleged that the accused “forged a Certificate of Occupancy of Lands Registry of Lagos State which you pledged as security to obtain the facility.”

The EFCC prosecutor, Babatunde Sonaike, further alleged that the accused forged two title deeds to obtain the loan from BOI under the false pretence that they were investing it in a project.

Only two of the accused – Enoche and Enebeli – were however in court on Monday to take their plea.

Both of them pleaded not guilty to all the charges following which Justice Ipaye ordered their remand in the prison custody.
The matter was adjourned till February 4, 2016 for the hearing of the bail application of the accused.

Punch