Alleged N1.7 bn theft: Nigerian airline chief gets N10m bail

Kayode Odukoya, Managing Director of First Nation Airlines, was
on Monday granted N10 million bail by an Ikeja Special Offences
Court in Lagos.

Mr. Odukoya had on March 15 pleaded not guilty to fraud and a
N1.7 billion theft allegation against him by the Economic and
Financial Crimes Commission (EFCC).

The court had ordered him to be remanded in EFCC custody pending
the determination of his bail application.

The EFCC is accusing Mr. Odukoya of a four-count charge of
forgery, use of false document, perjury and stealing.

At Monday’s proceeding, Justice Dada granted Mr. Odukoya N10
million bail, saying that “the prosecution did not show cause why
bail should not be granted to the defendant.

“He is granted N10 million bail with two sureties in like
sum.

“The sureties should have properties in the city of Lagos and
should depose to an affidavit of means.

“The defendant should deposit his international passport with
the court.

“Though the defence had requested that the defendant be granted
bail on self recognition, he will be granted a temporary release on
the condition that his international passport is immediately
deposited with the court.

“This case is adjourned until May 7 to 10 for trial,” the judge
said.

Before the ruling, Zainab Ettu, the EFCC counsel, told the court
that the anti-graft commission was no longer opposed to the bail
application.

“Initially we had opposed the application, but at the moment I’m
urging Your Lordship to leave bail at the discretion of the
honourable court,” Ettu said.

Olawale Akoni, the defence counsel, thanked the EFCC for the
stand it took on the bail application filed by Mr. Odukoya.

According to the EFCC, Mr. Odukoya committed the offences of
forgery, use of false document and perjury on March 21, 2013.

It alleged that the accused 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, in
order that the document is acted upon as genuine.

The forged document was in respect of a property located at No.
29, Oduduwa St., Ikeja GRA, Lagos.

Mr. Odukoya is alleged to have used the document, and also gave
false information on oath, concerning the loss of the certificate
of occupancy at the Lagos State Land Registry.

The anti-graft commission also said that on Oct. 7, 2016, Mr.
Odukoya allegedly stole and dishonestly converted to his personal
use N1.7 billion belonging to Skye Bank.

The EFCC said the offences violated Sections 85, 86, 278, 285,
361, 363 and 364 of the Criminal Law of Lagos State 2011.

(NAN)

Kayode Odukoya, Managing Director of First Nation Airlines, was
on Monday granted N10 million bail by an Ikeja Special Offences
Court in Lagos.

Mr. Odukoya had on March 15 pleaded not guilty to fraud and a
N1.7 billion theft allegation against him by the Economic and
Financial Crimes Commission (EFCC).

The court had ordered him to be remanded in EFCC custody pending
the determination of his bail application.

The EFCC is accusing Mr. Odukoya of a four-count charge of
forgery, use of false document, perjury and stealing.

At Monday’s proceeding, Justice Dada granted Mr. Odukoya N10
million bail, saying that “the prosecution did not show cause why
bail should not be granted to the defendant.

“He is granted N10 million bail with two sureties in like
sum.

“The sureties should have properties in the city of Lagos and
should depose to an affidavit of means.

“The defendant should deposit his international passport with
the court.

“Though the defence had requested that the defendant be granted
bail on self recognition, he will be granted a temporary release on
the condition that his international passport is immediately
deposited with the court.

“This case is adjourned until May 7 to 10 for trial,” the judge
said.

Before the ruling, Zainab Ettu, the EFCC counsel, told the court
that the anti-graft commission was no longer opposed to the bail
application.

“Initially we had opposed the application, but at the moment I’m
urging Your Lordship to leave bail at the discretion of the
honourable court,” Ettu said.

Olawale Akoni, the defence counsel, thanked the EFCC for the
stand it took on the bail application filed by Mr. Odukoya.

According to the EFCC, Mr. Odukoya committed the offences of
forgery, use of false document and perjury on March 21, 2013.

It alleged that the accused 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, in
order that the document is acted upon as genuine.

The forged document was in respect of a property located at No.
29, Oduduwa St., Ikeja GRA, Lagos.

Mr. Odukoya is alleged to have used the document, and also gave
false information on oath, concerning the loss of the certificate
of occupancy at the Lagos State Land Registry.

The anti-graft commission also said that on Oct. 7, 2016, Mr.
Odukoya allegedly stole and dishonestly converted to his personal
use N1.7 billion belonging to Skye Bank.

The EFCC said the offences violated Sections 85, 86, 278, 285,
361, 363 and 364 of the Criminal Law of Lagos State 2011.

(NAN)