A Lagos State High Court sitting in Ikeja has released a businessman, Oladipo Akanle, to his lawyer pending trial over the alleged theft of N23 million erroneously transferred into his Zenith Bank account.
Akanle and his company, Avalanche Trade 1307, were arraigned on Monday by the Economic and Financial Crimes Commission, EFCC, over the alleged offence, said to have been committed in January 2023.
The prosecution counsel, Banjo, told the court that the money belonged to Chinedu Iyizoba and was allegedly stolen after it was mistakenly transferred into Akanle’s bank account.
The prosecutor said the alleged offence contravened Section 278(2)(a) of the Criminal Law of Lagos State, 2011.
When the charge was read to him, Akanle pleaded not guilty.
Following the plea, Banjo asked the court to fix a trial date and remand the defendant in a correctional centre.
“In view of the not guilty plea of the defendant, we will be asking for a trial date and that the defendant be remanded in the Correctional Centre,” the prosecutor said.
Banjo, however, informed the court that the defendant’s counsel, Lanre Ogunlese (SAN), had just served him with a bail application.
Moving the bail application, Ogunlese urged the court to release Akanle to him, assuring the judge that he would ensure the defendant attended his trial.
Lawyer says defendant has refunded N10m
The senior advocate told the court that Akanle had refunded N10 million, leaving an outstanding balance of N13 million.
He argued that the outstanding amount should be considered in determining the application, rather than the original N23 million, because the defendant had already made a part payment.
Ogunlese also appealed to the court on personal grounds, describing Akanle as a son to him.
He explained that the defendant’s late father was his former schoolmate, who died in a plane crash while travelling to Malawi.
The lawyer added that both families were close and that he had promised to personally handle the case when he was contacted.
Ogunlese further informed the court that Akanle had previously been arraigned before a Magistrate’s court and was discharged.
Describing the defendant as a young man, the senior advocate urged the court to exercise its discretion in his favour, assuring the judge that he would not jump bail.
“The applicant is a young man, and we pray that the court exercises its discretion in favour of the applicant,” he said.
Judge orders undertaking from SAN
In his ruling, the trial judge granted the application and released Akanle to the senior lawyer pending trial.
The judge directed the senior advocate to provide a written undertaking guaranteeing that he would produce the defendant in court on every trial date, unless otherwise directed.
“I have considered the application and the submission of counsel. I shall release the defendant to his lawyer, Mr Ogunlese.
“You shall write an undertaking to always produce the defendant for his trial,” Justice Ijelu ruled.
Justice Ijelu subsequently adjourned the case until November 30, 2026, for trial.
