Two arrainged by EFCC for defrauding BoI of N1.424billion.

‎The Economic and Financial Crimes Commisssion (EFCC) Monday arraigned two men before a Lagos High Court, Ikeja for allegedly defrauding Bank of Industry (BOI) of N1.424billion.

Those arraigned before the court presided by Justice Oluwatoyin Ipaye are‎ Enoche Ugbabe and Enebeli Theophilus.

‎Two other persons charged along with the defendants but said to be at large included Johnson Salako and Toritseju Jemide‎, the first and seconded defendants respectively, having jumped administrative bail.

Enoche and Enebeli, who were listed as third and fourth defendants were arraigned on a five count charge offence bordering on conspiracy to commit felony and stealing contrary to section 516 of the Criminal Code Law of Lagos State.

According to the prosecuting counsel, Babatunde Sonoiki, the defendants were alleged to have stolen the sum of N1, 424, 774, 000 property of Bank of Industry (BOI)’ by falsely represented to the bank that the facility was meant to finance a project.

The prosecution further alleged that the defendants, contrary to Section 467 of the Criminal code Law of Lagos State, also allegedly forged a Certificate of Occupancy (C of O) of Lands Registry of Lagos State which they pledged as security to obtain the facility.

The defendants were also alleged to have forged two title deeds and presented same to the Bank of Industry to obtain the facility.

The defendants however pleaded not guilty to the charges when they were read to them.‎

Justice Ipaye however ordered them to be remanded in prison custody pending the hearing of their bail applications.

She thereafter adjourned the matter was till February 4, 2016 for hearing.