Ikeja High Court Adjourns Bail Hearing of Businessman in $1.5m Oil Fraud Case

An Ikeja Special Offences Court has adjourned the bail application of businessman Joseph Ufoma, facing charges by the Economic and Financial Crimes Commission (EFCC) over a $1.5 million oil fraud, to today,  March 31, following his absence in court.

 Ufoma, who is being tried alongside Intermediate Investment Holdings Limited, faces a two-count charge of obtaining by false pretence and forgery, the alleged offences said to contravene Section 1(1)(a) and 1(3) of the Advance Fee Fraud and Other Fraud Offences Act 2006 and Section 363 of the Criminal Law of Lagos State, 2015.

 Justice Mojisola Dada adjourned the matter when lead defence Counsel, Olawale Akoni, SAN, sought to move the bail application in absentia. Mr Akoni told the court that two applications had been filed, but the first, which sought abridgement of time, had been overtaken by events.

 EFCC Counsel, Babatunde Sonoiki, told the court that Ufoma has multiple cases pending in courts in Abuja and Lagos, and is expected to face further charges by the Nigeria Police Interpol Department. He argued that logistical constraints would make it difficult to produce the Defendant in court on March 31, urging a further adjournment to April 13.

 According to Sonoiki, Ufoma reportedly became a fugitive after being granted administrative bail, and subsequently, used legal actions to frustrate the investigation and obstruct the prosecution. The EFCC cited a counter-affidavit by investigator, Idi Musa, stating that Ufoma failed to honour the terms of his administrative bail, and could not be reached alongside his sureties.

 The Prosecutor added that the investigation established a prima facie case of obtaining by false pretence and forgery against the Defendant, prompting the filing of charges before the court.

 The court adjourned the bail hearing to March 31, 2026 to allow sufficient time for the Defendant to be produced, as efforts continue to bring him before the court.