A dramatic courtroom showdown unfolded as the Economic and Financial Crimes Commission (EFCC) brought serious allegations against businesswoman Oluwabukunola Gadzama, accusing her of stealing and illegally retaining N34 million.
Appearing before Justice Ismail Ijelu at the Ikeja High Court, Gadzama faced a two-count charge related to financial misconduct.
Despite the weight of the accusations, she pleaded not guilty.
EFCC prosecutor Franklin Ofoma pushed for immediate remand, emphasizing the severity of the case and raising concerns over Gadzama’s past actions.
He pointed out that she had previously jumped administrative bail granted by the EFCC on November 20, 2024, making her a clear flight risk.
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However, her defense counsel, I.O. Lala, attempted to downplay the concerns, insisting that Gadzama was ready to stand trial and had a pending bail application.
After careful deliberation, Justice Ijelu granted bail but set stringent conditions, requiring Gadzama to provide two responsible sureties, one a relative, both gainfully employed and show proof of tax compliance for the past three years. Until these conditions are met, she remains in custody.
The case, now set for trial on April 15, 2025, revolves around allegations that Gadzama and her company, Buildcon Global Services Limited, fraudulently converted N34.5 million meant for a land purchase at Mak Court Estate, Lekki, Lagos, for personal gain between October 2021 and April 2022.
As the trial date approaches, the case underscores the EFCC’s continued crackdown on financial crimes, reinforcing its commitment to holding individuals accountable for economic misconduct.
