EFCC Re-Arraigns Airline Chief For Alleged N1.7b Fraud

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The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned the Managing Director/Chief Executive Officer (MD/CEO) of First Nation Airways Limited, Kayode Odukoya, before an Ikeja Special Offences Court.

He was re-arraigned over allegations of forged memorandum of loss of Lagos State certificate of occupancy (C of O) and N1.7 billion fraud before Justice Mojisola Dada.
Odukoya was arraigned alongside his companies – First Nation Airways Limited and Bellview Airlines Limited – on a seven-count charge bordering on forgery, use of false document, perjury, stealing and obtaining credit by fraud, contrary to sections 85(1), 86(1), 278(1) and (b), 285(1), 313(1)(a) and (b), 361(1)(a) and (b), 363 (1) and 364(1) of the Criminal Law of Lagos State of Nigeria 2011.
EFCC prosecuting counsel Nnaemeka Omewa told the court that based on the amended information, the commission would like the defendant to take his plea again.
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The commission alleged that the defendant fraudulently obtain N100 million credit 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 C of O registered as Number 33 of Page 33 in Volume 1011 at the Lagos State Registry, Alausa, Ikeja, on the property being and situate at 29 Oduduwa Street, Ikeja GRA, Lagos State.
The defendant pleaded not guilty.
The prosecutor informed the court that he would close his case for the defence to open its case.
Defence counsel Edoka Onyeke filed an application to the court that in view of the defendant’s plea, he be allowed to continue enjoying his former bail condition.
He informed the court that with the amended information, he would make an application to recall two prosecution witnesses from Polaris Bank and the Investigative Police Officer (IPO) from the commission.
Justice Dada granted the application of the defence counsel and adjourned the matter till February 15 and 18, 2021.
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