EFCC Re-arraigns First Nation Airways MD/CEO Over Alleged N1.7bn Theft

November 30, 2020
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BY OLUGBENGA SOYELE, Lagos

The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned the Managing Director of First Nation Airways Limited, Kayode Odukoya before the Lagos State Special Offences Court sitting in Ikeja over an alleged N1.7 billion fraud.

Odukoya was accused of forging a memorandum of loss of Lagos State certificate of occupancy and a N1.7 Billion fraud by the EFCC.

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The defendant was docked before Justice Mojisola Dada alongside his companies, First Nation Airways Limited and Bellview Airlines Limited on a seven count charge of forgery, use of false document, perjury, stealing and obtaining credit by fraud.

The anti-graft agency maintained that the offences are contrary to sections 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.

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The EFCC also alleged that the defendant fraudulently obtained credit of N100 million from the defunct Skye Bank Plc (now Polaris Bank) and made the bank to incur liability by presenting a Memorandum of loss of Lagos state Certificate of Occupancy registered as No.33 of page 33 In Volume 1011 at the Lagos State Registry, Alausa, Ikeja In respect of property being and situate at No. 29 Oduduwa Street, Ikeja GRA, Lagos State.

According to the charge: ”Kayode Odukoya and First Nation Airways on or about the 29th day of August, 2013 In Lagos within the lkeja Judicial Division by means of fraud obtained the credit of N307,268,406.43 for yourselves from Skye Bank Plc (Now Polaris Bank L td) and made the bank to incur liability by presenting a Memorandum of Loss at Lagos state Certificate of Occupancy registered as No.33 at page 33 In Volume 1011 at the Lagos State Registry, Alausa, Ikeja In respect of property being and situate at No. 29 Oduduwa Street, lkeja GRA. Lagos State.

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‘’Furthermore, Kayode Odukoyo, First Nation Airways Limited and Bellview Airlines Limited on or about the 7th day of October, 2016 in Lagos within the lkeja Judicial Division dishonestly converted for your own use the sum of N1,741.994.962.04 property of Skye Bank now Polaris Bank.’’

The defendant, however, pleaded not guilty to the charge.

After the arraignment, the EFCC counsel, Nnaemeka Omewa informed the court that he would be closing his case for the defence to open their case.

Defence counsel, Edoka Onyeke, urged the court to allow his client to continue to enjoy the terms of the former bail condition earlier granted to him by the judge.

Onyeke also informed the court that with the amended information, he would be making an application to recall two prosecutor’s witnesses from Polaris Bank and the IPO from the commission.

Justice Dada granted the requests and adjourned the case to February 15, 2021 for the continuation of trial.

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