The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned Ufoma Joseph before an Ikeja Special Offences Court over an alleged $1.5 million (N2.9 billion) oil fraud.
The businessman was arraigned alongside his company, Intermediate Investment Holdings Ltd., on a two-count charge of obtaining by false pretence and forgery.
EFCC prosecutor, Mr Babatunde Sonoiki, told the court that the defendants allegedly obtained $1.5 million from the complainant, Adebisi Adebutu of R28 Holdings Ltd., between April 2022 and October 2023 under false pretences.
He said the money was paid as investment in a proposed petroleum development project, with assurances of reimbursement, payment of development capital fees, and allocation of shares in Intermediate Investment Holdings Ltd.
The anti-graft agency further accused Joseph of forging a document titled “Term Sheet,” purportedly executed by Sheriff Oluwo and Olaniran Osotuyi, to facilitate the transaction.
The prosecution alleged that the offences contravened Sections 1(1)(a) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 363 of the Criminal Laws of Lagos State, 2015.
The defendants, however, pleaded not guilty to the charge.
Sonoiki asked the court for a trial date and urged that Joseph be remanded with Interpol pending the conclusion of investigations.
According to him, the defendants appeared in court for arraignment and would be remanded to an appropriate correctional centre after Interpol concludes its investigation.
The prosecutor also brought to the court’s attention an incident that allegedly occurred on March 2, the last adjourned date.
He alleged that the defence counsel, Mr Oluseun Awonuga (SAN), physically assaulted his colleague, Mr Emenike Mgbemele.
“My lord, the learned silk physically assaulted my colleague at the staircase on his way to serve the defendant as directed by the court.
“It is very sad, a senior advocate for that matter.
“There is a video to that effect, and we intend to tender it before the court,” Sonoiki said.
The defence counsel did not respond to the allegation.
Awonuga later informed the court of a preliminary objection and written address dated Jan. 5, urging the court to discountenance the prosecution’s counter-affidavit.
He said a ruling delivered by the Federal High Court directed that the EFCC should not arrest the defendant.
“EFCC has flouted the order by arresting the defendant. I hereby urge your lordship to discountenance their counter-affidavit,” he said.
Responding, Sonoiki said the ruling was part of a motion earlier withdrawn by the defence and should not be before the court.
The prosecutor, in his 21-paragraph counter-affidavit dated Feb. 9, urged the court to dismiss the notice of preliminary objection.
He said the ruling did not prohibit the defendants from being arraigned before a court of competent jurisdiction.
“My lord, the ruling was delivered in a civil case, and according to the Supreme Court, criminal and civil cases can proceed simultaneously.
“We urge the court to dismiss the application and order accelerated hearing in this case,” Sonoiki said.
Justice Mojisola Dada adjourned the case until May 7 for ruling.
She ordered that the defendant be remanded with Interpol pending the conclusion of investigations, after which he would be transferred to a correctional centre pending the hearing of his bail application.
