NBA Ikeja Ex-Treasurer Acquitted in N20.1m Fraud Case

In a dramatic courtroom verdict that has captivated the legal community, Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, on Thursday cleared Kappo Aderinola of all charges in a high-profile N20.1 million fraud trial, bringing relief to the former Treasurer after years of legal battles.

 Aderinola had faced a 30-count charge, including conspiracy, money laundering, and theft, alongside two former NBA Ikeja Chairmen, Adesina Ogunlana (late) and Yinka Farounbi, accused of mismanaging the Branch’s funds.

 The trial, which began on May 22, 2019, centred on allegations that Aderinola and Farounbi, as authorised signatories to the Branch’s accounts, issued cheques without proper approval and handed them to Ogunlana for withdrawal, collectively amounting to N20.1 million.

Farounbi served as Chairman from 2014 to 2016, with Aderinola as Treasurer during that tenure. Ogunlana later led the Branch from 2016 to 2018. All three faced conspiracy charges, while Ogunlana had additional allegations, including 15 counts of stealing and one count of money laundering; Aderinola and Farounbi were jointly charged with 13 counts of stealing. All pleaded not g

Delivering her judgement, Justice Dada held that the prosecution had failed to prove the case against Aderinola beyond reasonable doubt, describing the evidence presented as insufficient to warrant a conviction.

 Following the ruling, Aderinola was formally discharged and acquitted, a decision welcomed by his legal team as a vindication of his integrity and years of service to the NBA Ikeja Branch.

 The trial continues for Ogunlana and Farounbi, with the court yet to deliver judgement on the remaining charges, as the legal community keenly awaits further developments in this high-profile case.