Court Denies Accountant Accused Of Stealing N1.07bn Bail

A Lagos Federal High Court sitting in Lagos on Friday declined to grant bail to a Chartered Accountant, Ayinuola Omafume, who was accused by the police of stealing N1.07 billion and $975 102.58 USD from her employer.

The trial judge, Justice Akintayo Aluko dismissed the bail application filed by the defendant on the ground that she is a ‘flight risk.’

Omafume was arraigned before the court alongside her mother, Lydia Ehrievuyere, and their company, Patridia Resources Limited, on a 15-count charge of conspiracy, unlawful conversion of funds, money laundering and fraud by the Police Force Criminal Investigation Department (ForceCID) Alagbon.

The police prosecutor, Morufu Animashaun, informed the judge that the defendants committed the alleged crime between 2017 and 2021 at Trailer Park, Agbara, Lagos.

Animashaun further claimed that the defendants committed the alleged fraud against some companies, which includes: Oritsetimeyin Logistics Limited, PUO Assets Limited, Resolution Capital Limited, Pine Petosan Limited, Grace Capital Ltd, RsL International Limited, RsL Ventures Capital Limited, Grace & Mercy Capital Limited, Grace Assets Limited and one Peter Ukuoritsemofe Ololo.

The police lawyer also told the court that the funds allegedly stolen by the defendants were meant to purchase and supply consumables for the offices of the companies listed above.

The defendants, however, pleaded not guilty to the charge.

While moving the defendants’ bail applications, the defence lawyer, John Oladeji urged the court to admit his clients to bail in the most liberal terms.

Justice Aluko, in his ruling agreed with the prosecution that there is a high possibility that the first defendant, if granted bail, will abscond.

The judge, however, granted bail to the second defendant in the sum of N500 million, with two sureties in like sum.