Justice Mojisola Dada of the Special Offences Court, Ikeja, Lagos, has announced an eagerly awaited adjournment for judgment in the case of an alleged N1.7 billion fraud involving Mr. Kayode Odukoya, the Managing Director and Chief Executive Officer of First Nation Airways Limited. The verdict is scheduled to be delivered on December 1, 2023.
Mr. Odukoya, together with First Nation Airways Limited and Belleview Airlines Limited, stands accused on seven counts related to forgery, use of false documents, perjury, stealing, and obtaining credit by fraud, as specified in 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.
Among the charges, one alleges that, “Kayode Odukoya and First Nation Airways, on or about the 29th day of August 2013 in Lagos, within the Ikeja Judicial Division, by means of fraud, obtained the credit of N307,268,406.43 for themselves from Skye Bank Plc (Now Polaris Bank Ltd) and made the bank 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, Ikeja GRA, Lagos State.”
Another charge alleges that, “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 their 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.”
Mr. Odukoya pleaded “not guilty” to these charges, marking the commencement of the trial.
In the course of the trial, the prosecution presented its case, summoning five witnesses and submitting numerous documents to substantiate the allegations against the defendants. However, in response, the defense, represented by E.D. Onyeke, submitted a no-case application, which was dismissed by Judge Dada on January 11, 2022. The judge then ordered the defendant to present his defense.
Subsequently, Mr. Odukoya took to the witness stand to refute the allegations against him.
Following the conclusion of his defense, Justice Dada set a date for the adoption of final written arguments.
In the latest courtroom session on Tuesday, prosecution counsel, Nnaemeka Omewa, adopted the final written address on behalf of the prosecution, urging the court to affirm that the prosecution had substantiated its case against the defendant.
Onyeke, representing the defense, also adopted the final written address and implored the court to exonerate his client.
After listening to the arguments from both sides, Justice Dada adjourned the case until December 1, 2023, when the verdict will be handed down, and the fate of Mr. Kayode Odukoya in the alleged N1.7 billion fraud case will be determined.
