Court Adjourns MD, Kayode Odukoya’s Alleged N1.7bn Fraud Trial Till Aug 2

Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Wednesday, June 30, 2021, adjourned till August 2, 2021 for adoption of written addresses in the alleged N1.7bn fraud trial involving Kayode Odukoya, Managing Director and Chief Executive Officer of First Nation Airways Limited.

Odukoya was re-arraigned alongside First Nation Airways Limited and Bellview Airlines Limited on a seven-count charge bordering on forgery, use of false document, perjury, stealing and obtaining credit by fraud contrary to sections 85(1), 86(1), 278(1)&(b), 285(1), 313(1)(a) &(b),361(1)(a)& (b),363 (1) and 364(1) of the criminal law of Lagos State of Nigeria 2011.

One of the counts reads: “Kayode Odukoya and First Nation Airways, on or about the 29th day of August, 2013 in Lagos, within the lkeja Judicial Division, by means of fraud obtained the credit of N307,268,406.43 for yourselves from Skye Bank Plc (Now Polaris Bank Ltd) and made the bank to incur liability by presenting a Memorandum of Loss at Lagos State Certificate of Occupancy registered as No.33 at page 33 In Volume 1011 at the Lagos State Registry, Alausa, Ikeja In respect of property being and situate at No. 29 Oduduwa Street, lkeja GRA. Lagos State.”

Another count reads: “Kayode Odukoya, First Nation Airways Limited and Bellview Airlines Limited, on or about the 7th day of October, 2016 in Lagos within the Lagos Judicial Division dishonestly converted to your own use the sum of N1, 742,994,962.04 (One Billion, Seven Hundred and Forty-one Million, Nine Hundred and Ninety-four Thousand, Nine Hundred and Sixty-two Naira, Four Kobo) property of Skye Bank Plc.”

He pleaded “not guilty” to the charges.

The case was adjourned till August 2, 2021 for the adoption of written addresses by the prosecution and the defence.