EFCC Re-arraigns Father And Son Over Alleged N5.6bn Fraud In Lagos

The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, has re-arraigned Emmanuel Adewunmi Jayeoba alongside his son, Adewale Daniel Jayeoba, before Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos.

The defendants were re-arraigned on a 14-count amended information bordering on money laundering to the tune of N5, 697, 029, 685.

One of the counts reads: “ That you, Adewale Daniel Jayeoba and Emmanuel Adewunmi Jayeoba, between 2019 and 2020, in Lagos, within the jurisdiction of this Honorable Court, conspired amongst yourselves to use the aggregate sum of N5.697,029,685, which sum you reasonably ought to have known forms part of your unlawful activity to wit: carrying on banking business without a valid license and you thereby committed an offense contrary to Section 18 (a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3) of the same Act.”

They pleaded “not guilty” to the offense.

In view of their pleas, the prosecution counsel, Chinenye Okezie, asked the court for a trial date and also prayed that the defendants be remanded in prison custody. But in response, counsel to the defendants, I.A. Raji, informed the court that the defendants had previously been granted bail by Justice Nicholas Oweibo.

He, however, told the court that the defendants had not been able to perfect the bail conditions, and the defense counsel prayed to the court for a short date for the hearing of the bail variation.

Justice Aneke adjourned the matter to October 17, 2022, and December 6, 2022, for hearing of the bail application and trial respectively.

The Judge also ordered the defendants to be remanded in prison custody.