Again, the planned arraignment of United Bank for Africa Plc, UBA, two of its senior officials, and two companies over alleged N4.29 billion was stalled before Justice Rahman Oshodi of the Special Offences Court, Ikeja on Wednesday.
When the matter was called, arraignment could not go on due to the absence of the defendants for proceedings, as none of the defendants was present in court to take their plea.
The case was filed by the Economic and Financial Crimes Commission, EFCC, over charges bordering on foreign exchange violations, retention of proceeds of crime, stealing, and money laundering.
The defendants are; UBA, Muyiwa Akinyemi, Amangbo Eziashi Stephen, Gesos Global Service Limited, and Fedat Global Limited.
The EFCC had filed a multiple counts charge against the defendants, alleging foreign exchange infractions, concealment of proceeds of unlawful activities, retention of criminal proceeds, and money laundering.
At the resumed proceedings, counsel to EFCC Mr. Temitope Banjo, appeared for prosecution.
While Adewale Kamourudeen under protest for the first, second, and third defendants announced appearance while I. S. Hassan appeared for the fourth defendant.
But no lawyer represented the fifth defendant.
Banjo told Justice Oshodi that the matter was scheduled for a report on service of court processes and the arraignment of the defendants.
According to Banjo, all defendants had been duly served with the charge and other court processes, adding that affidavits of service had already been filed before the court.
He described the defendants’ absence as another attempt to frustrate the trial.
Banjo further submitted that the EFCC had made efforts to arrest the second and third defendants after they allegedly jumped the administrative bail earlier granted to them by the agency.
The prosecutor reiterated his surprise about defendants’ absence despite having been served with the charge and relevant court processes.
Responding, counsel to the first, second, and third defendants, Kamourudeen, maintained that his clients had not been served with either the information or any court processes relating to the case.
Kamourudeen argued that the defendants only got to know about the charge through media reports.
“The first, second and third defendants have not been served the information or the hearing notice of today’s date or previous adjournment. We got wind of it through newspapers reports. That is why we are here.”
“I do not know the contents of the affidavit of service or whether it qualifies as proper service,” told Justice Oshodi.
The counsel to defendants further stated that he needed to examine the court file to ascertain the nature of the proof of service relied upon by the prosecution.
But counsel to the prosecution dismissing the position of defendants lawyer told the court that UBA’s Compliance Officer, Mr. Chima Okugbo, received service on behalf of the bank and two defendants; Muyiwa Akinyemi and Amangbo Eziashi Stephen.
Banjo further said the officer was consistent during the investigation as one representing the bank and was also the one who received service on behalf of the two defendants.
The presiding judge then asked whether he was willing to accept service on behalf of his clients, but the lawyer declined, stating that he had no instructions to do so.
Following submissions from counsel, the judge adjourned the matter until June 16, 2026, for a report on service, arraignment, and further proceedings.
According to the charge filed on behalf of the Federal Republic of Nigeria, EFCC alleged that between September 14, 2022, and March 20, 2023, at Lagos within the jurisdiction of the court, the defendants conspired to sell foreign exchange above the rates stipulated by the Central Bank of Nigeria, CBN and thereafter retained and laundered the proceed.
The charge states: “That you, United Bank for Africa Plc, Muyiwa Akinyemi, Amangbo Eziashi Stephen, Geeos Global Service Limited and Fedat Global Limited, between 14th September 2022 through 20th March 2023 at Lagos within the jurisdiction of this Honourable Court, conspired to sell Forex above the rates stipulated by the Central Bank of Nigeria and thereby committed an offence.”
The EFCC also alleged that the defendants concealed proceeds of unlawful activities amounting to N4,290,112,796.72 in UBA Account No. NGN09991931102.
Part of the charge reads: “That you, United Bank for Africa Plc, Muyiwa Akinyemi, Amangbo Eziashi Stephen, Geeos Global Service Limited and Fedat Global Limited, sometime in September 2022 at Lagos within the jurisdiction of this Honourable Court, concealed the aggregate sum of N4,290,112,796.72 (Four Billion, Two Hundred and Ninety Million, One Hundred and Twelve Thousand, Seven Hundred and Ninety-Six Naira, Seventy-Two Kobo) in your United Bank for Africa Account No. NGN09991931102 derived directly from your illegal act.”
In count three, the EFCC accused UBA of retaining proceeds of crime contrary to Section 17(a) of the EFCC (Establishment, Etc.) Act, 2004.
“That United Bank for Africa Plc, between 14th September 2022 through 20th March 2023 in Lagos within the jurisdiction of this Honourable Court retained the sum of N4,290,112,796.72 (Four Billion, Two Hundred and Ninety Million, One Hundred and Twelve Thousand, Seven Hundred and Ninety-Six Naira, Seventy-Two Kobo) in your United Bank for Africa Account No. NGN09991931102 and you thereby committed an offence contrary to and punishable under Section 17 of the Economic and Financial Crimes Commission (Establishment, Etc.) Act, 2004.”
The anti-corruption agency further alleged in Count four that UBA, Muyiwa Akinyemi, and Amangbo Eziashi Stephen engaged in acts constituting money laundering between September 2022 and March 2023.
