The Economic and Financial Crimes Commission has re-arraigned two individuals and their companies before the Lagos State High Court in Ikeja over an alleged N1.07bn fraud involving false pretences and theft.
The defendants, Ajayi Edward Olushola, his company, Hola Jay Nigeria Limited, Hannah Nwaguzor Ify, and her company, Mozann Global Merchant Limited, were re-arraigned before Justice Fadipe on Thursday on an amended four-count charge.
The EFCC disclosed in a statement on Friday that Olushola and his company had earlier been arraigned and granted bail, while Ify remained at large until her recent arrest by the anti-graft agency.
According to the commission, her arrest prompted an amendment of the charges to include both her and Mozann Global Merchant Limited, leading to the fresh arraignment of all four defendants.
One of the charges alleged that the defendants, on or about May 15, 2024, fraudulently claimed they had the capacity to supply one million litres of Automotive Gas Oil and, by that representation, obtained N986m from Prince Chukwulota Bennett Onuoha.
The EFCC also alleged that the defendants dishonestly converted N84.779m belonging to Irene Abidemi Ifanse to their personal use in June 2025.
The anti-graft agency said the alleged offences contravened the provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, as well as the Criminal Law of Lagos State, 2011.
The defendants pleaded not guilty to all four counts.
Following the plea, the prosecution counsel, H. U. Kofarnaisa, urged the court to remand the fourth defendant in a correctional facility pending trial.
Justice Fadipe granted the application and ordered that Ify be remanded in a correctional centre.
The judge subsequently adjourned the case until July 7, 2026, for the commencement of trial.
