EFCC Operatives

EFCC Arraigns Arabambi, Arowojobe for N79m Fraud

The Economic and Financial Crimes Commission, EFCC, Ibadan Zonal Office, on January 15, 2019 arraigned one Isaac Arabambi along with his company, Heroes Investment Company Limited before Justice Joyce Abdulmalik of the Federal High Court, Ibadan, Oyo State, on an 11-count charge bordering on unauthorized operation of a financial institution and obtaining the sum of N62,326,250.60 (Sixty Two Million, Three Hundred and Twenty Six Thousand, Two Hundred and Fifty Naira, Sixty Kobo) only by false pretence.

One of the counts reads: “That you Isaac Arabambi between on or about October 13, 2008 at Ibadan within the Ibadan Jurisdiction of this Honourable Court, without a valid licence from Central Bank of Nigeria and other relevant authorities, operates a Financial Institution to wit: Horoes Investments Company Limited and thereby committed an offence contrary to section 58 (1) of Banks and Other Financial Institutions Act, Cap B3, Laws of the Federation of Nigeria, 2004 and punishable under section 59(6) of the same Act”.

Another count reads: “That you Isaac Arabambi and Heroes Investment Limited between November 11, 2014 and December 31, 2014 at Ibadan within the Ibadan jurisdiction of this Honourable Court with intent to defraud, obtained the sum of N9,035,000 (Nine Million and Thirty-Five Thousand Naira) only through Bank of America from one Faloye Elizabeth Bunmi by falsely representing that the money would be invested in her Borrowed Fund Account domiciled with you, which representation you knew to be false and thereby committed an offence contrary to Section 1(1)(a)and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006”.

The defendant, however, pleaded “not guilty” to the 11-count charge.

Prosecuting counsel, Mabas Mabur, thereafter applied for a trial date and prayed the Court to remand the defendant in prison custody.

Defence counsel, Kazeem Olaniyan however, moved an oral application for the bail of his client, arguing that “the defendant is brought on charges that are bailable”.

After listening to the arguments, Justice Abdulmalik, ordered Olaniyan to file a formal application for bail on the grounds that “this is a court of record and there is no application before the court”.

The trial judge, thereafter, adjourned the matter to February 7, 2019 for “hearing” of bail application, and ordered the defendant be remanded in Agodi Prison.

In another development, the Economic and Financial Crimes Commission, EFCC, Lagos Zonal office, on January 15, 2018 arraigned one Blessing Aishatu Arowojobe before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos on a one-count charge bordering on obtaining money by false pretence to the tune of N7,065,000 (Seven Million and Sixty Five Thousand Naira) only.

The petitioner alleged that Arowojobe, approached him with a business proposal sometime in January 2018.

He further alleged that he later transferred a sum of N7, 065,000 to the defendant in February 2018 for the procurement of ‘garri’ and cassava from Edo State.

The defendant, however, allegedly diverted the money to her personal use.

The count reads: “That you, Blessing Aishatu Arowojobe, between February 3 and February 22, 2018 at Lagos, within the Ikeja judicial Division, by false pretence and with intent to defraud, obtained the sum of N7, 065,000 (Seven Million, and Sixty-Five Thousand Naira) from one Tim Onyeator by falsely representing to him that it was the cost of ‘garri’ business and purchase of plots of land for cassava plants, which pretence you knew to be false.”

The defendant pleaded “not guilty” to the charge when it was read to her.

In view of her plea, the prosecuting counsel, Franklin Ofoma, asked the court for a trial date and also prayed that the defendant be remanded in prison custody.

Counsel for the defendant, G.A. Elebhose, prayed the court for a short date to allow him file and serve a bail application on behalf of his client.

Consequently, Justice Dada adjourned the matter to January 23 and February 11, 2019 for “hearing of the bail application and commencement of trial.

Tony Orilade
Ag. Head, Media & Publicity



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