Alleged N1.7bn Fraud: EFCC Rearraigns CEO Of First Nations Airways, Odukoya

The Economic and Financial Crimes Commission (EFCC), has re-arraigned Kayode Odukoya, CEO of First Nation Airways Limited, before an Ikeja Special Offences Court, Lagos over allegations of forged memorandum of loss of Lagos State certificate of occupancy and N1.7 billion fraud.
Odukoya was docked along his companies, First Nation Airways Limited and Bellview Airlines Limited, on a seven-count charge bordering on forgery, use of false document, perjury, stealing and obtaining credit by fraud.
The prosecuting counsel for the EFCC, Nnaemeka Omewa Esq, informed the court that the commission, based on the amended information, would like for the defendant to retake his plea.
Omewa said that the offences committed by the defendants contravened Sections 85(1), 86(1), 278(1)&(b), 285(1), 313(1)(a) &(b),361(1)(a)& (b),363 (1) and 364(1) of the criminal law of Lagos State of Nigeria 2011.
The EFCC alleged that the defendant fraudulently obtained a credit of N100 million from Skye Bank Plc now Polaris Bank and made the bank to incur liability by presenting a Memorandum of loss of Lagos state Certificate of Occupancy registered as No.33 of page 33 in Volume 1011 at the Lagos State Registry, Alausa, Ikeja in respect of properly being and situate at No. 29 Oduduwa Sheet, Ikeja GRA, Lagos State
According to the charge: “Kayode Odukoya and First Nation Airways on or about the 29th day of August, 2013 In Lagos by means of fraud obtained the credit of N307,268,406.43 for yourselves from Skye Bank Plc (Now Polaris Bank ltd) and made the bank to incur liability by presenting a Memorandum of Loss at Lagos state Certificate of Occupancy registered as No.33 at page 33 In Volume 1011 at the Lagos State Registry, Alausa, Ikeja In respect of property being and situate at No. 29 Oduduwa Street, lkeja GRA. Lagos State.
“Kayode Odukoyo, First Nation Airways Limited and Bellview Airlines Limited on or about the 7th day of October, 2016 in Lagos dishonestly converted for your own use the sum of N1, 741, 994, 962.04 property of Skye Bank now Polaris Bank.”
The defendant pleaded not guilty to the charges preferred against him by the Commission.
The prosecutor informed the court that he would be closing its case for the defence to open their case.
However, the Defence counsel, Edoka Onyeke made an application to the court asking that the defendant continues enjoying his bail conditions.