Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Wednesday, November 10, 2022, adjourned till March 8, 2023 for the adoption of final written addresses in the alleged N1.7 billion fraud case involving Kayode Odukoya, Chief Executive Officer, First Nation Airways Limited.
The Economic and Financial Crimes Commission, EFCC, is prosecuting Odukoya alongside First Nation Airways Limited and Bellview Airlines Limited on a seven-count charge bordering on forgery, use of false document, perjury, stealing and obtaining credit by fraud, contrary to 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.
One of the counts reads: “Kayode Odukoya and First Nation Airways, on or about the 29th day of August, 2013 in Lagos, within the lkeja Judicial Division, by means of fraud, obtained the credit of N307,268,406.43 for yourselves from Skye Bank Plc (Now Polaris Bank Ltd) and made the bank to 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, lkeja GRA. Lagos State.”
Another count reads: “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 your 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.”
He pleaded “not guilty” to the charges, thereby prompting the commencement of trial.
The prosecution had, in the course of the trial, called five witnesses and tendered several documents to prove its case against the defendant.
After the prosecution had closed its case on November 30, 2020, the defendant, through his counsel, E.D. Onyeke, had applied for a no-case submission.
Ruling on the no-case submission on January 11, 2022, Justice Dada dismissed the application and ordered the defendant to open his defence.
Consequently, the defendant took to the dock to defend himself.
Following the conclusion of his defence, Justice Dada, on November 9, 2022 adjourned the matter till March 8, 2023 for the adoption of final written addresses.