EFCC ARRAIGNS BUSINESSWOMAN OVER ALLEGED N34 MILLION THEFT

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The Economic and Financial Crimes Commission (EFCC) arraigned a businesswoman, Oluwabukunola Gadzama, before an Ikeja High Court over an alleged N34 million theft.

Gadzama was charged alongside Buildcon Global Services Limited on a two-count charge of stealing and retention of proceeds of crime. She pleaded not guilty to the charges before Justice Ismail Ijelu.

During the court proceedings, EFCC counsel Franklin Ofoma requested a trial date and urged the court to remand the defendant in correctional custody pending trial.

However, defense counsel I.O. Lala informed the court of a pending bail application for the defendant, dated March 26, 2025. He argued that the offences were bailable and assured the court that the defendant was prepared to stand trial.

Opposing the bail application, the EFCC prosecutor contended that Gadzama was a flight risk, alleging that she had previously jumped administrative bail granted by the commission on November 20, 2024.

In his ruling, Justice Ijelu granted Gadzama bail in the sum of N5 million, with two responsible sureties in like sum. One of the sureties must be a relative and gainfully employed. Additionally, the sureties must provide evidence of tax payment to the Lagos State Government for the past three years.

“The addresses of the defendant and sureties shall be verified, and the Chief Registrar of the High Court of Lagos State shall oversee the verification process,” Justice Ijelu stated.

Pending the fulfillment of her bail conditions, the judge ordered that Gadzama be remanded in a correctional facility. The trial was adjourned to April 15, 2025.

According to the EFCC, between October 2021 and April 2022, Gadzama and Buildcon Global Services Limited allegedly stole and dishonestly converted N34.5 million, paid by one Adeyemi Joshua as the purchase price for a 300-square-meter land at Mak Court Estate, Lekki, Lagos.

The anti-graft agency further alleged that Gadzama and her company retained the sum, knowing it to be proceeds of criminal activity.