LAGOS – Former director and shareholder of the defunct Gulf Bank Plc, Mr Johnson Adeyeba, the Managing Director and Executive Officer Mr. Babajide Rogers and others have been re-arraigned over an alleged N15,761,176.24 bn fraud.
The defendants were re-arraigned by the Federal Government of Nigeria before Justice Daniel Osiagor of the Federal High Court, in Lagos.
Adeyeba was re-arraigned alongside a Briton, Gareth Wilcox, the Managing Director of Ibom Power Company; Lyk Engineering Company, and a lawyer, Mr. Uche Uwechia, who was the former Legal Advisor and Secretary to the defunct Gulf Bank Plc.
They are charged on 28 counts of the fifth amended charge bordering on stealing, and fraud.
At the resume of the proceedings, Counsel to the FG, Mr Rotimi Jacobs SAN, informed the court that it’s a case that has been going on since 2013, and had suffered several setbacks.
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The counsel to the first defendant Mr Okaja Okaja, announced his appearance while Johnson Samuel also appeared for the second defendant.
The counsel to the third and fourth defendants (Briton) and Ibom power company, Mr Bababode Adesoji, announced his appearance, while Miss O. G. Bassey appeared for the sixth defendant.
Adeyeba, Rogers, and Uwechia, alongside others who are at large were accused of recklessly granting a loan facility of N450m, to Ibom power company limited, without adequate security and contrary to the accepted practice.
The prosecutor said the incident occurred on April 1, 2001, in Lagos.
Jacobs told the court that Gareth Wilcox, while being the managing director of Ibom power company, Lyk Engineering Company, limited alongside others who are at large, conspired with Adeyeba, Rogers, and Uwechia, recklessly granted a loan of N450m, to Ibom power company limited, without adequate security and contrary to the accepted practice.
