Ajibola Obakin Faces Trial Over Alleged ₦251.6m Theft


Justice Ladiran Akintola of the Oyo State High Court, sitting in Ibadan, has scheduled the commencement of trial for November 4, 2023, in a case involving the alleged stealing of N251.6 million.

The accused, Obakin Emmanuel Ajibola, is facing four-count charges brought against him by the Ibadan Zonal Command of the Economic and Financial Crimes Commission (EFCC).

One of the charges states that Ajibola fraudulently stole the sum of N120.5 million from Lee Fakino Nigeria Limited in December 2022. He is accused of withdrawing the money without authorization from the firm, where he was one of the directors and a signatory to the account.

During the proceedings on Monday, the court informed all parties, including the first prosecution witness, Akindele Fajemiyo, the managing director and CEO of Lee Fakino Nigeria Limited, about the adjournment until November 4, 2023.

Ajibola was arraigned before Justice Akintola on September 12, 2023, and pleaded “not guilty” to the charges brought against him by the EFCC. The investigations revealed that he allegedly tampered with the firm’s banking details to track its account without the knowledge of the managing director. The withdrawn sum was payment for works executed by Lee Fakino Nigeria Limited for the Lagos State Ministry of Agriculture between December 22, 2022, and March 9, 2023.


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