Airline MD Arraigned over Alleged N1.7bn Fraud

By Akinwale Akintunde

The Managing Director of First Nation Airlines, Kayode Odukoya has been arraigned before an Ikeja Special Offences Court, over an alleged theft of N1.7 billion after he allegedly shunned his arraignment in court on three prior occasions. 

The Economic and Financial Crimes Commission (EFCC) arraigned Odukoya before Justice Mojisola Dada on a four-count charge of forgery, use of false documents, perjury and stealing preferred on him.

Odukoya however pleaded not guilty to the charges. 

Following his plea, the EFCC counsel, Mr. M.S. Usman prayed the trial judge to order him to be remanded in EFCC custody pending the hearing of his bail application, which has been adjourned till March 26, 2018.  First Nation and Bellview Airlines are joined in the suit as 2nd and 3rd defendants respectively.

Usman had asked the court to remand Odukoya.  “My Lord, I urge the court to remand the defendant pending the trial date. On three occasions prior to today’s proceedings, the defendant had frustrated his arraignment,” Usman said. 

But Odukoya’s lawyer, John Odugbela, informed the court that he had filed an application for the bail of his client, which had been served on the prosecution. 

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

The EFCC alleged that the airlines MD 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 be acted upon as genuine. 

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

Odukoya is alleged by the EFCC to have used the false 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 October 7, 2016, Odukoya stole and dishonestly converted to his own use N1. 7 billion belonging to Skye Bank.

 

The offences violate Sections 85, 86(1) 278(1)(b), 285, 361(1),(a) (b), 363 and 364(1) of the Criminal Law of Lagos State 2011.