The Economic and Financial Crimes Commission on Tuesday June 26, 2018, arraigned one Iyabo Ruth Okoh and her company

The Ibadan office of the Economic and Financial Crimes Commission on Tuesday June 26, 2018, arraigned one Iyabo Ruth Okoh and her company, Mega Bolex Quarry Ltd before Hon. Justice A. N. Akintola of the Oyo State High Court sitting in Ibadan, on a 2-count charge bordering on stealing and obtaining money under false pretense.

The journey to the dock for Okoh followed a petition to the Commission alleging that sometimes in March, 2016, she invited the petitioner (name withheld) to invest in her company, Mega Bolex Quarry Ltd as a shareholder and thereafter be issued a share certificate.

According to the petition, after paying the sum of Forty-Three Million, Five Hundred Thousand Naira (N43,500,000.00) only,  to the defendant through her company’s account, she refused to issue the share certificate nor grant her access to the company’s affairs as earlier agreed and no refund of the money already paid.

The defendants however, pleaded not guilty to the charges preferred against them. In view of the plea of the defendant, the EFCC’s counsel, Dr. Ben Ubi prayed the court for a trial and for the remand of the first defendant in prison custody. However, counsel to the defendants, Adeyinka Adeyemi informed the court that he has an application seeking the first defendant's bail. He thereafter prayed the court to remand the defendant in the EFCC’s custody. Dr, Ubi however, opposed on the grounds that the proper place of custody after arraignment is the prison.

Justice Akintola however, advised the defendant to at least make some refund of the money involved. He thereafter, adjourned the case to July 2, 2018 for hearing of the bail application. Meanwhile, the defendant shall be remanded at the Federal Prison, Agodi, pending the hearing and determination of her bail application.