A Lagos State Special Offences Court in Ikeja has ordered substituted service of court processes on United Bank for Africa Plc (UBA) and three other defendants in an alleged N4.29 billion foreign exchange fraud case.
Justice Rahman Oshodi made the order following an ex parte application by the Economic and Financial Crimes Commission (EFCC), which sought permission to serve the defendants after they failed to appear for arraignment.
The defendants are Muyiwa Akinyemi, Amangbo Eziashi-Stephen, Gesos Global Service Ltd. and Fedat Global Ltd.
Moving the application, EFCC counsel, Mr Temitope Banjo, urged the court to permit the prosecution to paste the charge and accompanying court processes at conspicuous locations at the defendants’ known addresses.
In his ruling, Justice Oshodi held that pasting the documents at the specified address would provide reasonable assurance that the proceedings would come to the defendants’ attention.
The judge consequently authorised the prosecution to paste the charge and accompanying processes at 19 Nnebue House, 57 Marina, Festac Island, Lagos, or any other address known to the commission.
Read Also: FCMB Tells Court How Ndili Couple Default $2m Loan
He, however, struck out the prosecution’s alternative request seeking to serve the processes on counsel representing the affected defendants, describing the relief as unclear.
Justice Oshodi said service carried out in accordance with Section 88 of the Administration of Criminal Justice Law of Lagos State would be deemed proper service.
The court adjourned the case until October 22 for arraignment and directed the prosecution to file affidavits before the next hearing.
The defendants are facing a four-count charge bordering on foreign exchange infractions, concealment of proceeds of unlawful activities, retention of criminal proceeds and money laundering.
In one of the counts, the EFCC alleged that the defendants conspired between September 14, 2022, and March 20, 2023, to sell foreign exchange above rates stipulated by the Central Bank of Nigeria.
The commission further alleged that the defendants retained and laundered proceeds from the transactions.
The defendants have yet to be arraigned in the matter, as their absence also stalled proceedings on June 3.
