A Lagos State High Court sitting in Ikeja has granted bail to one Olabode Rasheed Wale, who was arraigned for allegedly stealing the sum of $35,000 belonging to a man identified as George Onyeaka.
Wale was brought before Justice Mojisola Dada by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, EFCC, on Thursday, July 31, 2025, on a two-count charge bordering on stealing and obtaining by false pretence.
According to the EFCC, the defendant was arrested following an intelligence report that linked him to an Organized Cyber Crimes Syndicate Network (OCSN). Investigators alleged that Wale fraudulently obtained $35,000 from one Fransisco under the guise that the money was meant as a refund for George Onyeaka.
One of the charges reads, “That you, Olabode Rasheed Wale, sometime within August 2024 and March 2025, in Lagos, within the jurisdiction of this Honourable Court, with a dishonest intent, stole and converted to your own use the sum of $35,000.00 (Thirty-Five Thousand United States Dollars), property of George Onyeaka, thereby committed an offence stealing, contrary to and punishable under Sections 280 and 287 of the Criminal Law of Lagos State, 2015.”
Wale pleaded not guilty to the charges when read to him.
Following his plea, prosecution counsel A.A. Usman urged the court to set a date for trial and requested that the defendant be remanded at a correctional facility.
In his response, defence counsel Dauda Shakirudeen prayed the court to grant his client bail, noting that the offence was bailable and assuring the court of Wale’s willingness to attend trial.
Justice Dada granted bail to the defendant in the sum of N2 million with two sureties in like sum. One of the sureties is required to undertake that his account will be placed on lien. The judge also ordered Wale to deposit his passport with the court registrar.
The case was adjourned till October 30, 2025, for the commencement of trial.
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