Lagos Ibile Holdings’ marketer arraigned for alleged N80m fraud
A marketer with the Lagos State-owned Ibile Holdings Limited, Kazeem Oluwaseun Oladipupo, has been arraigned before a Federal High Court, Lagos, over alleged diversion and fraud of N80 million. The
- By Adebisi Onanuga
A marketer with the Lagos State-owned Ibile Holdings Limited, Kazeem Oluwaseun Oladipupo, has been arraigned before a Federal High Court, Lagos, over alleged diversion and fraud of N80 million.
The suit was filed by the Inspector-General of Police (IGP) through the Police Special Fraud Unit (PSFU) Ikoyi-Lagos.
The marketer was arraigned before Justice Musa Kakaki on a three count-charge marked FHC/L/27c/2026,
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According to prosecutor Justine Enang, a Chief Superintendent of Police (CSP), Oladipupo, alongside accomplices said to be at large, allegedly conspired and orchestrated the financial fraud in October 2021, through false pretences.
CSP Enang informed the court that Oladipupo, was appointed as a marketing agent to manage and enforce rent payments for 200 shops at Tejuosho Market in Yaba, and was entrusted with collecting yearly rents for Ibile Holding Limited.
The prosecution told the court that instead of remitting the payments through the company’s designated bank account, he allegedly converted the funds for his personal use.
The prosecutor told the court that the total sum involved amounted to N80 million, representing rent paid by shop occupants.
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The prosecution further told the court that the defendant’s actions constitute both fraud and breach of trust and money laundering.
He said the offence contravened sections 8(i) (a), 1(1) (a) and punishable under Section 1(3) of the Advance Fee Fraud and other Fraud Related Offences Act, No. 14 of 2006. And 18(2)(b) (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
But the marketer denied the allegations and pleaded not guilty when the charges were read to him.
Following his not guilty plea, the prosecutor, CSP Enang, prayed the court for a trial date, as well urged the court to remand the defendant pending the determination of the charge.
However, the defendant through his lawyer, Paul Omolodun, prayed the court for bail, in liberal terms.
Justice Kakaki granted the defendant’s request and admitted him to bail in various terms and conditions.
The judge, thereafter, adjourned the matter to June 26, last year for trial and ordered that the defendant be remanded in the facility of the Nigerian Correctional Services (NCoS) pending the perfection of the bail conditions.
