Lagos court acquits businessmen of alleged N1.8bn fraud

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Judge Oluwatoyin Taiwo of a special court in Ikeja, Lagos, on Friday released and acquitted two businessmen, Ogbor Eliot and Kelvin Chris, charged with fraud of 1.8 billion nairas by the Economic and Financial Crimes Commission.

Judge Taiwo freed Eliot and Chris from five counts bordering on conspiracy, obtaining money under false pretences, conspiracy and forgery, after a trial of nearly four years.

The judge found that the EFCC had not established any element of criminality against the defendants, adding that the transaction which led to the charge was of a civil nature which could have been resolved by the plaintiff and defendants.

The defendants were arrested by the EFCC on October 22, 2018, alongside Danium Energy Services Limited, which the prosecution alleges was used to deceive Sterling Bank Plc into lending them money. money to fund a local purchase order for 20,000 Metric Tons of automotive diesel for supply to Total Nigeria Limited.

The defendants pleaded "not guilty", after which the trial began.

On August 5, 2022, the court adjourned until Friday for judgment.

When the case resumed on Friday, the court upheld Ogbor and Chris' claim that the charge should not have been brought in the first place.

Judge Taiwo said: "I have reviewed the prosecution evidence as well as the defense evidence. It is clear to me that this is a problem of a that could have been resolved in a civil case.

"There is no element of criminality in a properly secured loan from a stockyard in Akwa Ibom State owned by the first defendant.

"I find and maintain that the prosecution has failed to establish any element of criminality against the defendants here. Accordingly, they are hereby released and acquitted," said the judge.