The Ibadan zonal office of the Economic and Financial Crimes Commission on Tuesday arraigned one Iyabo Ruth Okoh and her company, Mega Bolex Quarry Limited, before Hon. Justice A. N. Akintola of the Oyo State High Court sitting in Ibadan on a two-count charge bordering on stealing and obtaining money under false pretence.
The journey to the dock for Iyabo Ruth Okoh followed a petition to the Commission alleging that sometimes in March, 2016, she invited the petitioner (name withheld) to invest in her company, Mega Bolex Quarry Limited, as a shareholder and thereafter be issued a share certificate.
According to the petition, after N43.5 million to the defendant through her company’s account, she refused to issue the share certificate nor grant her access to the company’s affairs as earlier agreed and no refund of the money already paid.
The defendants, however, pleaded not guilty to the charges preferred against them.
In view of the plea of the defendant, the EFCC’s counsel, Dr. Ben Ubi, prayed the court for a trial and for the remand of the first defendant in prison custody.
However, counsel to the defendants, Adeyinka Adeyemi, informed the court that he has an application seeking the first defendant bail.
Adeyemi thereafter prayed the court to remand the defendant in the EFCC’s custody.
Ubi, however, opposed the defence’s prayer on the grounds that the proper place of custody after arraignment is the prison.
Justice Akintola, however, advised the defendant to at least make some refund of the money involved.
He thereafter, adjourned the case to July 2, 2018 for hearing of the bail application.
Meanwhile, the defendant shall be remanded at the Federal Prison, Agodi pending the hearing and determination of her bail application.
Count one reads: “That you, Iyabo Ruth Okoh and Mega Bolex Quarry Ltd between 15th August, 2016 and 13thMarch, 2017, at Ibadan within the Ibadan judicial Division of this honourable Court, with intent to defraud Obtained the sum of Thirty Four Million, Five Hundred and Seventy Four Thousand Naira (N34,574,000.00) only from one Adekunbi Sherifa Adeyemi by falsely pretending that it is the cost of shares purportedly sold to her from your company, Mega Bolex Quarry Ltd which representations you knew to be false and thereby committed an offence.”