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Asset Manager Docked Over Alleged N41m Theft

By on October 18, 2012

Scales of Justice

Mrs. Ibukun Adebayo Adedayo, a 30-year-old nursing mother, a stockbroker/asset manager, and a medical doctor, has been accused of stealing N41 million and brought forward by the Economic and Financial Crimes Commission, EFCC before an Ikeja High Court.

Adedayo was said to have stolen the sum from one Mrs Olajumoke Obafemi when she was the Head of Structured Financial Group of Ventures and Trust Limited between June and December 2008.

She was arraigned on a 24-count charge including, alleged stealing, fraud, fraudulent conversion of money, altering, and forgery.

According to the EFCC, the offences were liable to be punished by under sections 390, 467, 468 of the Criminal Code Cap 17, Vol. 2, Laws of Lagos State of Nigeria, 2003.

Part of the charge reads, “Ibukun Adebayo Adedayo on or about the 13th of June, 2008 stole and fraudulently converted the sum of N7,000,000, property of one Mrs. Olajumoke Obafemi in her account with Ventures and Trust Limited.”

Ibukun Adebayo was in addition suspected to have “on August 4, 2008 stole and fraudulently converted N6, 500,000 property of Mrs. Olajumoke Obafemi, which sum you debited from her account with Ventures and Trust Limited and credited same to the account of Manamachi Technobuild Services with Zenith Bank Plc and converted it.”

The agency added, “Adedayo on or about the 5th of October, 2008 stole and converted N7,300,000 property of Mrs. Olajumoke Obafemi, which sum you debited from her account with Ventures and Trust Limited and credited same to the account of Manamachi Technobuild. Services with Zenith Bank Plc and converted same.”

The EFCC also alleged that the accused person “with intent to defraud forged email instructions of Mrs. Olajumoke Obafemi to make two cheques, one for N6 million payable to Manamachi Technobuild Services and another for the balance payable to the said Mrs. Olajumoke Obafemi.”

“That Ibukun Adedayo on or about 6th October, 2008 with intent to defraud knowingly and fraudulently altered forged email instructions dated 6th of October of Mrs. Olajumoke Obafemi to make cheque of N7,300,000 million payable to Manamachi Technobuild Services as genuine.”

She, on the other hand, pleaded not guilty to the 24-count charge against her.

Counsel to the EFCC, Mr. Takiyudeen Arebi, advised the court to remand Adedayo in prison custody in view of her not guilty plea.

Although Mr. John Enoh, who is counsel to the accused person, implored the court to remand her in the custody of the EFCC, as there are signs that the commission might bring up new charges against her besides, she is a nursing mother.

The ruling judge, Justice Habeeb Abiru ordered that she be remanded in the EFCC custody and adjourned the case to October 22, 2012 for argument for bail.