The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned one Friday Audu, one of the alleged masterminds behind an international Ponzi scheme linked to cybercrime and terrorism.
Audu was arraigned by the anti-graft agency alongside a company, Genting International Limited, before the Lagos State Special Offences Court in Ikeja on an amended eight-count charge, marked ID/25617C/25, dated May 17, 2025, on allegations of forgery.
The trial judge, Justice Rahman Oshodi had fixed June 3 for a ruling on the defendant bail application.
Also during Monday’s proceedings, the EFCC counsel, Rotimi Oyedepo (SAN), informed the court that the defendants allegedly forged a document titled “Ultimate Beneficial Ownership Declaration Form,” which was purportedly signed by one Baffale Yakubu at some point in 2024 in Lagos.
He also alleged that defendants knowingly forged documents and falsely represented themselves as other individuals to carry out fraudulent activities.
The defendant pleaded not guilty to the charges when they were read to him and the court entered a not-guilty plea on behalf of Genting International Ltd.
During the proceedings, a witness, Nasiru Barau testified that he dropped out of junior secondary school and denied being a director or shareholder in the company.
He said, “I had never heard of Genting International before the EFCC invited me. I am not a director. My brother, Baffale Yakubu, is the only director.”
When presented with a document listing him as a shareholder with 12 million shares and the email address [email protected], Barau replied, “I don’t recognise this document. This is the first time I have seen it. That is not my email. I don’t know anything about shares.”
Under cross-examination by defence counsel, Barau acknowledged having made a statement at the EFCC.
He confirmed that two individuals, his lawyer, Mr. Nojim Adeoye and Rabiu Ismail, had helped him write statements, which he signed. “Yes, that is my signature,” he affirmed when the signed statement was shown.
Barau initially stated that he completed his primary and secondary school education, but later, under re-examination, he corrected himself by saying that he did not finish his secondary education. When asked if he was a director at a Bureau de Change owned by his brother, he confirmed that he served as an assistant.
After hearing from the witness, Justice Oshodi adjourned the matter until Tuesday for ruling on Audu’s bail application and continuation of the trial.
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