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EFCC arraigns three employees of AIICO Capital in court over N1.5bn fraud

Three employees of the AIICO Capital Ltd, subsidiary of the insurance giant, American International Insurance Company (AIICO) were on Thursday arraigned before an Ikeja High Court by the Economic and Financial Crimes Commission(EFCC), for allegedly stealing the total sum of N1.5 billion belonging to the company.

The three employees identified as: Onome Odometa Harriet, Olajumoke Okelanja Akano and Olabode David Ogunlere, were docked on a four count charge of conspiracy and stealing.

The defendants, however, pleaded not guilty to all count charges.

According to the EFCC prosecutor, Chineye C. Okozie, the defendants committed the offences sometime in October till December 2020 in Lagos. Okozie told the court that the alleged offences contravened Sections 411, 280 (2) and punishable under Section 287 of the Criminal Law of Lagos State 2015.

The charges read: “That you, Harriet, between between October to November 2020 in Lagos, whilst in the employment of AIICO Capital Ltd, dishonestly converted to your own use the sum of N419, 967, 351. 00 belonging to the said company;

“That you, Akano, between November to December in Lagos, whilst in the employment of AIICO Capital Ltd, dishonestly converted to your own use the sum 167, 000, 000. 00 belonging to the said company;

“That you, Ogunlere, between October to November in Lagos, whilst in the employment of AIICO Capital Ltd, dishonestly converted to your own use the sum in Lagos, whilst in the employment of AIICO Capital Ltd, dishonestly converted to your own use the sum N65, 000, 000. 00 belonging to the said company”;

Following the bail application of the defence, the trial judge, Justice Oluwatoyin Taiwo granted the three defendants bail in the sum of N50m with two sureties in like sum.

The judge ordered that one of the sureties must be a blood relative and both sureties must be resident in Lagos State. “One of the sureties must be a relative who must show Sureties must show evidence of tax clearance certificate,” she ruled.

Justice Taiwo adjourned the matter till October 12, 2021 for trial.

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