EFCC ARRAIGNS MAN, COMPANY OVER ALLEGED $1.5M OIL FRAUD IN LAGOS
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By Aishat Momoh. O.
The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned a man, Ufoma Joseph, before the Ikeja Special Offences Court in Ikeja, Lagos, over an alleged $1.5 million oil investment fraud.
Joseph was arraigned alongside his company, Intermediate Investment Holdings Ltd, on a two-count charge bordering on obtaining by false pretence and forgery.
The defendants, however, pleaded not guilty to the charges.
Following the arraignment, EFCC counsel, Babatunde Sonoiki, requested a trial date and urged the court to remand the defendant with Interpol pending the conclusion of ongoing investigations.
According to the prosecutor, the defendant appeared in court solely for the purpose of arraignment and would later be transferred to the appropriate correctional centre after the Interpol investigation is concluded.
Sonoiki also informed the court of an incident that allegedly occurred on March 2, the previous adjourned date, accusing defence counsel, Oluseun Awonuga, of physically assaulting his colleague, Emenike Mgbemele.
“My lord, the learned silk physically assaulted my colleague at the staircase on his way to serve the defendant as directed by the court. It is very sad, a Senior Advocate for that matter. There is a video to that effect and we intend to tender it before the court,” Sonoiki said.
Awonuga did not respond to the allegation but instead informed the court that he had filed a preliminary objection and written address dated January 5, urging the court to disregard the prosecution’s counter-affidavit.
He argued that a ruling delivered by the Federal High Court had directed that the EFCC should not arrest the defendant.
“EFCC has flouted the order by arresting the defendant and we urge your lordship to discountenance their counter-affidavit,” Awonuga said.
In response, the prosecutor argued that the ruling formed part of a motion earlier withdrawn by the defence and should not be considered by the court.
Sonoiki, in a 21-paragraph counter-affidavit dated February 9, urged the court to dismiss the defence’s preliminary objection, noting that the ruling was delivered in a civil matter.
“My lord, according to the Supreme Court, criminal and civil cases can proceed simultaneously. We therefore urge the court to dismiss the application and order accelerated hearing in this case,” he said.
Justice Mojisola Dada subsequently adjourned the matter until May 7 for ruling and ordered that the defendant be remanded with Interpol pending the completion of investigations, after which he would be transferred to a correctional facility while awaiting the hearing of his bail application.
According to the charge, Joseph and his company allegedly obtained $1.5 million from the complainant, Adebisi Adebutu of R28 Holdings Ltd, between April 2022 and October 2023 under false pretences.
The EFCC alleged that the money was paid as an investment in a proposed petroleum development project, with assurances of reimbursement, payment of development capital fees and allocation of shares in Intermediate Investment Holdings Ltd.
The anti-graft agency further accused Joseph of forging a document titled “Term Sheet,” purportedly executed by Sherrif Oluwo and Olaniran Osotuyi, to facilitate the transaction.
According to the prosecution, the alleged offences contravene Section 1(1)(a) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, as well as Section 363 of the Criminal Laws of Lagos State, 2015.
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