EFCC ARRAIGNS BUSINESSMAN, COMPANY OVER ALLEGED N23M THEFT IN LAGOS
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By Aishat Momoh. O.
The Economic and Financial Crimes Commission (EFCC) has arraigned a businessman, Oladipo Olaleye Akanle, and his company, Avalanche Trade 1307, before a Lagos State High Court sitting in Ikeja over the alleged stealing of N23 million.
The defendants were arraigned before Justice Ismaila Ijelu on a one-count charge of stealing, contrary to Section 278(2)(a) of the Criminal Law of Lagos State, 2011.
According to the charge, Akanle and his company allegedly converted N23 million belonging to Chinedu Iyizoba to their own use after the money was mistakenly transferred into Akanle’s Zenith Bank account in January 2023.
The defendants, however, pleaded not guilty to the charge.
Following their pleas, prosecution counsel, James Banjo, urged the court to remand Akanle in custody pending trial.
However, defence counsel, Lanre Ogunlesi, SAN, applied for bail, assuring the court that his client would not abscond and would attend proceedings whenever required.
Ogunlesi told the court that Akanle had been in EFCC custody since the previous Tuesday. He also disputed the amount stated in the charge, claiming that the sum involved was N13 million and that N10 million had already been repaid.
The senior advocate further informed the court that his client had previously been charged before a magistrate’s court but was discharged.
In his ruling, Justice Ijelu granted Akanle bail and directed that he be released to Ogunlesi, who was ordered to provide a written undertaking to produce the defendant in court on every trial date unless otherwise directed.
The court adjourned the case until November 30, 2026, for trial.
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