Alleged N338m Fraud: Court Threatens to Revoke Ex-Speaker, Ikuforiji’s Bail

Wale Igbintade

Justice Muhammad Lima of the Federal High Court in Lagos, has threatened to revoke the bail granted to former Speaker of Lagos State House of Assembly, Adeyemi Ikuforiji, if he fails to show up for trial over alleged N338.8 million money laundering charged preferred against him by the Economic and Financial Crimes Commission (EFCC).

Ikuforiji is standing trial alongside his former Personal Assistant, Oyebode Atoyebi on 54 counts of laundering about N338.8million.

However due to the absence of the defendants, the court adjourned the matter to May 3rd and 4th.

Justice Lama directed the defendants to ensure they are present for trial on the next date, failing which their bails may be revoked and a bench warrant issued.

When the matter came up yesterday, Mr. Ekene Iheanacho, announced appearance for the prosecution and drew attention of the court to a letter for adjournment written by defence counsel.

He decried the slow pace of the trial in the suit over the years.

Iheanacho argued that the letter requesting adjournment was written by counsel to the Defendants, and not the Defendants themselves.

He told the court that the Defendants had no reason to be absent from court.

The prosecutor, consequently, made an oral application that a bench warrant be issued against the defendants and their bails be revoked.

In a short ruling, the court in its wisdom, directed the defendants to ensure they are present for trial on the next date, failing which their bails may be revoked and a bench warrant issued.

The court adjourned the case till May 3 and 4 for continuation of trial.

Ikuforiji was charged by the EFCC alongside Atoyebi. Both of them had pleaded not guilty before Justice Mohammed Liman, and were allowed to continue on an earlier bail granted to them in 2012 when they were first arraigned.

On March 17, 2021, the EFCC closed its case after calling the second witness for the prosecution, Mr. Adewale Olatunji, a former Clerk of the Lagos House of Assembly. The prosecution called only two witnesses in support of its case.

The case was then adjourned for the defence to open its case and begin its defence.

However, Justice Liman was later transferred out of the Lagos Division and is now presiding over the case by fiat.

According to the charge, EFCC alleged that the defendants accepted cash payments above the threshold set by the Money Laundering Act, without going through a financial institution.

The Commission accused the defendants of conspiring to commit an illegal act of accepting cash payments in the aggregate sum of N338.8 million from the House of Assembly without going through a financial institution.

Ikuforiji was also accused of using his position to misappropriate funds belonging to the Assembly.