N1.7bn Fraud: First Nation Airlines MD, Kayode Odukoya Remanded in Prison Over Theft, Forgery Charge

The Managing Director of First Nation Airlines, Mr. Kayode Odukoya was today arraigned before a Special Offences Court, sitting in Ikeja, Lagos for theft and forgery by the Economic and Financial Crimes Commission, EFCC.

He was subsequently remanded in prison custody pending hearing of his bail application.

First Nation Airlines and Bellview Airlines are joined in the suit as second and third defendants.

Kayode Odukoya who has failed to appear in court on three occasions was finally produced in court by the Economic and Financial Crimes Commission, EFCC after he reported himself on Wednesday at the EFCC office in Lagos.

He was arraigned on four count charge of theft of N1.7 billion and forgery of Certificate of Occupancy issued by the Lagos State Government.

The EFCC alleged that the CEO of the airlines forged the Memorandum of Loss of Lagos State Certificate of Occupancy registered as No. 33 at page 33 volume 1011 at the Lagos State Land Registry, Alausa, Lagos, in order that the document be acted upon as genuine and that the forged document was in respect of a property located at No. 29, Oduduwa St., Ikeja GRA, Lagos.

Odukoya is alleged by the EFCC to have used the false document and also gave false information on oath concerning the loss of the certificate of occupancy at the Lagos State Land Registry.

The anti-graft commission also said that on October 7, 2016, Odukoya stole and dishonestly converted to his own use N1. 7 billion belonging to Skye Bank contrary to Sections 85, 86(1) 278(1)(b), 285, 361(1),(a) (b), 363 and 364(1) of the Criminal Law of Lagos State 2011.

At the hearing today, Justice Mojisola Dada ordered that the defendant be kept in custody of the EFCC till 26th March, 2018 to rule on his bail applications following arguments and counter arguments by counsel to the Odukoya and that of EFCC.