The scheduled arraignment of the former Managing Director, Bank of Industry (BoI), Rasheed Olaoluwa, and three others by the Economic and Financial Crimes Commission, EFCC was stalled today due to the absence of the defendants.
Olaoluwa, is to be arraigned alongside, Sadat Aliyu, Chibundu Edozie, and BGL Capital Limited over alleged illegal sale of BoI shares.
They are to face a 13-count charge before Justice Olubunmi Abike-Fadipe of the Lagos State High Court Ikeja.
When the matter came up, EFCC prosecutor, Kehinde Adetoye informed the court that the matter is slated for arraignment, and that the defendants were contacted that their arrangement would come up in court.
He told the court that the Defendants were granted administrative bail since 2020, and ought to be in court for their arrangement.
Responding, Mr. Olabode Iranloye counsel to the 2nd Defendant, Sadat Aliyu apologised for the absence of his client.
Mr. Iranloye assured the court that his client would be in court at the next adjourned date to take their plea.
Consequently, Justice Abike-Fadipe adjourned the matter till November 23, 2022 for Arraignment.
The EFCC had sometimes in 2016 raided the Lagos office of the Bank of Industry (BoI) following a discreet investigation it had been conducting.
It was gathered that the raid was not unconnected with the allegations of illegal sales of properties and shares belonging to the BoI.
