EFCC Closes Case Against Defendant In Alleged N5m Fraud Trial

The Economic and Financial Crimes Commission, EFCC, on Tuesday, May 9, 2023, closed its case against one Onarike Onagoruwa, who is being prosecuted for an alleged N5m fraud.

 Onagoruwa was arraigned on January 19, 2023 on three-counts bordering on obtaining money by false pretence and issuance of dud cheque before Justice Mojisola Dada  of the Special Offences Court sitting in Ikeja, Lagos.

He is accused of defrauding one Abiodun Adebowale in a business agreement that was apparently a scam.

 One of the counts reads: "Onarike Obafemi Onagoruwa, on or about the 7th day of December 2018 in Lagos, within the jurisdiction of this Honourable Court, and with intent to defraud, did obtain the sum of N5,000,000 (Five Million Naira only) from one Abiodun Adebowale under the pretence that you will invest the said sum in a coconut oil based investment scheme with you on behalf of the said Abiodun Adebowale from where she would get a 30% interest on the capital investment after 12 months, a pretence you knew to be false."

Another count reads: "Onarike Obafemi Onagoruwa, on or about the 7th day of December 2018 in Lagos, within the jurisdiction of this Honourable Court, did obtain credit by issuing a Zenith Bank Plc cheque dated 7/12/2019 in the sum of N6,500,000 only to Abiodun Adebowale, which cheque,when presented for payment within three months of issuance, was dishonoured due to insufficient funds in the account to cover the face value of the said cheque."

 He had pleaded "not guilty" to the charges, thereby prompting the commencement of his trial.

 At today’s proceedings, the second  prosecution witness, PW2, Agbetuyi Ademola, an operative of the Lagos Command of the EFCC who had on May 8, 2023 given his evidence-in-chief, was cross-examined by the defence counsel, Akeem Amusa.

Under cross-examination, the witness again asserted that the post-dated cheque of N6.5 million issued by the defendant to the petitioner was dishonoured "due to insufficient funds.

 "Our investigation was to follow the money and nothing showed that the defendant, at any time, invested the money in any coconut oil-based business," he said.

 He testified further that the victim had requested a formal agreement, "but he was not forthcoming.”

 He said the defendant claimed to own a firm, Obanla Farms Nigeria Limited, but investigation revealed that “there was no physical presence, though it is registered with the Corporate Affairs Commission".

 The counsel for the EFCC, N.K. Ukoha, informed the court that "this is the case of the prosecution".

 Amusa, however, prayed the court to recall the first prosecution witness, Abiodun Adebowale, who was in court, for cross-examination.

 Under cross-examination, she asserted that "the day we were supposed to sign the formal agreement, he never turned up as he had already collected the cheque of N5 million and he kept dodging".

 "Since he collected the cheque, he disappeared, and it was lies upon lies, fake addresses, and unkept promises," she said.

 The case has been adjourned till June 13, 2023 for defence.