Features  |  Law  

Court fixes December 10 for trial of oil marketer

By Yetunde Ayobami Ojo |   19 November 2019   |   3:14 am  

An Ikeja Special Offences Court, Lagos, has fixed December 10, 2019, for the trial of an oil marketer, Ayodeji Ibrahim Oluokun, who was charged over alleged issuance of dud cheques valued  $1.6 million.

Justice Oluwatoyin Taiwo fixed December 10 for the trial of the accused, who was charged alongside his oil company, Peak Petroleum Industry Nigeria Limited, by the Economic and Financial Crimes Commission (EFCC) on two counts charge of the offence. 

The defendants were first arraigned before the court on January 21, 2019, on the offence.

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The anti-graft agency in a suit marked ID/8509c/19, alleged that the defendant and his company, sometimes in 2014, approached the management of GOSL Nigeria Limited, for a loan of $1 million and $666,666 respectively to enable him to carry out operational activities in his company’s oil field in Bayelsa State.

He was said to have assured the company, which is the complainant in the charge against him, that he would repay the money within a year.

Following the defendant’s failure to repay the loan as promised, he was alleged to have issued two post-dated Standard Chartered Bank Nigeria Limited cheques dated June 26, 2014, for the sum of $1 million and $666,666 respectively.

The EFCC stated that upon presentation of the cheques to the bank for withdrawal by the complainant on several occasions, they were returned due to insufficient funds.

The offence according to the prosecution is contrary to and punishable under section 1(1) (b) of the Dishonoured Cheques (Offences) Act, Cap D 11 Laws of the Federation of Nigeria, 2004.

Defendants, however, pleaded not guilty to the charges and accordingly admitted to bail in some terms and conditions.

When the matter was called, the judge adjourned the trial to December 10, due to the absence of the prosecution counsel, Ocholi Atta, who was said to have been transferred out of Lagos State office of the prosecuting agency.

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