N1.7bn fraud: EFCC arraigns First Nation airline’s MD


The Economic and Financial Crimes Commission (EFCC) on Friday, arraigned at the Ikeja Special Offences Court, Bellview and First Nation airlines for an alleged fraud of N1.7 billion.

Joined as the first defendant in the charge was the Managing Director of First Nation Airlines, Kayode Odukoya.

The airlines and Odukoya were arraigned on four counts before Justice Mojisola Dada.

The charges border on forgery, use of forged documents, perjury and stealing.

The EFCC, in the charges, alleged that the defendants forged the Memorandum of Loss of Lagos State Certificate of Occupancy registered as No. 33, at page 33, Volume 1011 at the Lagos State Land Registry, Alausa, Lagos.

According to the EFCC, the allegedly forged document was in respect of a property located at No. 29 Oduduwa Street, GRA, Ikeja.

The EFCC claimed that the defendants forged the document “in order that the document be acted upon as genuine.”

Odukoya was accused of dishonestly converting to his own a sum of N1.7bn belonging to Skye Bank Plc.

The prosecutor, M.S. Usman, told the court that the defendants acted contrary to sections 85, 86(1), 278(1)(b), 285, 361(1)(a)(b), 363 and 364(1) of the Criminal Law of Lagos State 2011.

But the defendants pleaded not guilty.

Justice Dada ordered the remand of Odukoya in the custody of the EFCC and adjourned the suit till March 26, 2018, to hear Odukoya’s bail application.