Date Published: 02/23/11

EFCC docks 6 Diamond Bank Managers, Customer over N7.9 billion Fraud

The Economic and Financial Crimes Commission on Wednesday February 22, arraigned 10 persons before a Federal High Court sitting in Ibadan, Oyo State for allegedly granting unsecured and unauthorized credit facilities to the tune of N7.8 billion(seven billion, eight hundred million naira). Among the 10 persons are six officials of Diamond Bank, Messrs Adesoji Adekunle, Utieyen Obioru,Abdulazeez Salau, Gbolahan Ladoja, Chukwuma Ladoja and Tokunbo Obayemi. The seventh accused person is Mrs Modupe Sobodu, a customer of the bank and three of her companies, Messrs Dupsob Nigeria Limited, Nukep Nigeria Limited and Mofadeb Investment Limited, in which she is the managing director and chief executive.

The accused persons who took their turn at the dock pleaded not guilty to the 5 count charge bordering on conspiracy to defraud Diamond bank by granting unsecured loans. Thereafter, Counsel to EFCC, Cosmos Ugwu asked the court to fix a date for the trial. He also asked the court to remand the accused persons in prison custody. However, Chukwudi Maduka, counsel to the 1, 2,4,5,6 accused persons asked the court to grant the accused persons bail as they were already enjoying EFCC administrative bail. He said the accused persons came to court from their homes, a pointer to the fact that they would not jump bail and would not run away. He also said the accused persons have unfailingly attended to EFCC since they were first interrogated.

The same argument was canvassed by both Olufemi Akintominwa and C. H. Okaka counsel to the 3, 7,8,9, and 10 accused persons. However, Okaka pleaded with the court to grant his client bail in liberal terms and that the alleged offence was not a capital offence as it carries a maximum of three years if convicted.

Justice J. E. Shekarau granted bail to the accused persons in the sum of N2 million and a surety in like sum. The surety must possess landed property within the jurisdiction of the court and that they should deposit the C of O with the court registrar. Their passport photograph and that of the surety are also to be deposited in court.

Justice Shekarau then adjourned to 14th and 15th of March for hearing.

Count 1 of the charges reads:

"That you Adesoji Adekunle, Utieyen Obioru, Abdulazeez Salau, Chukwuma Kalu, Gbolahan Ladoja and Tokunbo Obayemi whilst being officers of Diamond Bank Plc between January 2008 and October 2008 at Ibadan within the jurisdiction of the Federal High Court were connected with the grant and granting of unsecured and unauthorized credit facilities or advances against the rules and regulations of Diamond Bank Plc to Mrs Modupe Sobodu and Dupsob Nigeria Limited, Nukep Nigeria Limited and Mofadeb Investment Limited through Account No. CA-043102000856 to the tune of N7.8 billion (seven billion, eight hundred million naira) property of Diamond Bank Plc and thereby committed an offence contrary to section 15(1)(a)(ii) of the Failed Bank (Recovery of debts) and other Financial Malpractices in Banks Act cap F2 , Laws of the Federation of Nigeria, 2004 and punishable under section 16(i)(a) of the same Act."