ALLEGED N1.7BN FRAUD: First Nation MD, Kayode Odukoya Knows Fate Dec 1st.

Kayode Odukoya.

Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Wednesday, October 11, 2023, adjourned till December 1, 2023 for judgment, an alleged N1.7bn fraud case involving Kayode Odukoya, Managing Director and Chief Executive Officer of First Nation Airways Limited. Odukoya is facing trial,  alongside First Nation Airways Limited and Belleview Airlines Limited on seven-count charges bordering on forgery, use of false document, perjury, stealing and obtaining credit by fraud, contrary to Section 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, before closing its case on November 30, 2020, had called five witnesses and tendered several documents to prove the case against the defendants. However, the defendant, through his counsel, E.D. Onyeke, had applied for a no-case submission. The Judge , on January 11, 2022, dismissed the no-case submission and also ordered the defendant to open his defence. The defendant, thereafter, took to the dock to defend himself. He denied the allegations levelled against him. Following the conclusion of his defence, Justice Dada had adjourned for the adoption of final written addresses. At Tuesday’s  proceedings,  prosecution counsel, Nnaemeka Omewa, adopted the final written address of the prosecution and urged the court to hold that the prosecution proved its case against the defendant. Onyeke also adopted the final written address of the defence. He, however, urged the court to discharge and acquit his client. After listening to both parties, Justice Dada adjourned till December 1, 2023 for judgement.