The Economic and Financial Crimes Commission (EFCC) has arraigned a man, Ufoma Joseph, before an Ikeja Special Offences Court in Lagos over an alleged $1.5 million oil investment fraud.
Joseph was docked alongside his company, Intermediate Investment Holdings Ltd, on a two-count charge bordering on obtaining by false pretence and forgery. Both defendants, however, pleaded not guilty to the charges.
Following the plea, EFCC counsel, Babatunde Sonoiki, requested the court to fix a date for trial. He also urged the court to remand the defendant with the International Criminal Police Organization (Interpol) pending the conclusion of ongoing investigations.
Sonoiki told the court that the defendant was brought solely for arraignment and would be transferred to an appropriate correctional facility after Interpol concludes its investigation.
The prosecutor also drew the court’s attention to an incident that allegedly occurred on March 2, the last adjourned date.
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According to him, the defence counsel, Oluseun Awonuga (SAN), physically assaulted his colleague, Emenike Mgbemele, on the staircase while attempting to serve the defendant with court processes.
Sonoiki alleged that the incident was captured on video, which the prosecution intends to tender before the court. Awonuga, however, did not respond to the allegation.
The defence counsel later informed the court that he had filed a preliminary objection dated January 5, accompanied by a written address, urging the court to disregard the prosecution’s counter-affidavit.
Awonuga argued that a ruling by the Federal High Court had restrained the EFCC from arresting the defendant, alleging that the anti-graft agency violated the court order by proceeding with the arrest.
In response, Sonoiki maintained that the ruling cited by the defence formed part of a motion that had earlier been withdrawn and should not be relied upon.
In a 21-paragraph counter-affidavit dated February 9, the prosecutor urged the court to dismiss the preliminary objection.
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He further argued that the Federal High Court ruling was delivered in a civil matter and does not preclude criminal proceedings from continuing. Citing Supreme Court authorities, he said civil and criminal cases can run concurrently.
Justice Mojisola Dada adjourned the case until May 7 for ruling on the preliminary objection. She ordered that the defendant be remanded with Interpol pending the conclusion of investigations, after which he would be transferred to a correctional centre pending the hearing of his bail application.
According to the charge, the defendants 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 funds were paid as an investment in a proposed petroleum development project, with promises of reimbursement, payment of development capital fees, and allocation of shares in Intermediate Investment Holdings Ltd.
The commission further accused Joseph of forging a document titled “Term Sheet,” purportedly executed by Sherrif Oluwo and Olaniran Osotuyi, to facilitate the transaction.
The alleged offences contravene Sections 1(1)(a) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 363 of the Criminal Law of Lagos State, 2015.
