EFCC secures seven-year jail terms for five over N117.7m fraud

Justice K.A. Jose of the Lagos State High Court sitting in Tapa, Lagos, has sentenced five persons to seven years’ imprisonment each for their involvement in a N117.7m fraud involving Chi Limited.

The Economic and Financial Crimes Commission disclosed this in a statement posted on X on Friday.

The convicts are Yinka Salawu, Joshua Oluremi Daramola, Raji Ahmed, Afolabi Israel Olusegun and Muraina Olanrewaju Abdullahi.

They were prosecuted by the Lagos Zonal Directorate 1 of the EFCC on a six-count charge bordering on conspiracy to obtain money by false pretence, obtaining money by false pretence and forgery.

One of the counts alleged that the defendants obtained N81,359,922 from Chi Limited in 2009 under the false pretence that the money was payment for goods and services supplied to the company.

The prosecution called 17 witnesses from the EFCC, Nigeria Police Force, banks and Chi Limited during the trial and tendered several documentary exhibits in evidence.

At the conclusion of the trial, Justice Jose found the first, fourth, fifth, sixth and seventh defendants guilty on Counts One, Two and Three and convicted them accordingly.

The second, third and eighth defendants were, however, discharged and acquitted.

Following the convictions, the prosecution counsel, M.S. Owede, urged the court to invoke Section 11 of the Advance Fee Fraud and Other Fraud Related Offences Act and order the convicts to restitute Chi Limited with N117,755,061, being the sums stated in Counts Two and Three.

Owede also urged the court to order the sale of properties belonging to the first convict, with the proceeds paid to Chi Limited, or alternatively, for the properties to be forfeited to the company.

In her ruling, Justice Jose sentenced each of the five convicts to seven years’ imprisonment without an option of a fine.

“The convicts will be given credit for the periods they have already spent in custody. All periods spent in prison shall be deducted from the seven-year terms imposed by the court,” the judge ruled.

On restitution, Justice Jose, relying on Section 297 of the Administration of Criminal Justice Law, ordered the convicts to repay Chi Limited the sums contained in the charge.

“All monies already paid shall be deducted from the amounts to be restituted,” she added.

The EFCC said the case began after the convicts were arrested over the alleged N81.3m fraud.

According to the commission, the money was obtained from Chi Limited under the false pretence that it was payment for goods and services supplied to the company.

The EFCC said the goods and services were neither delivered nor was the money returned to Chi Limited.