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By NBF News
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Deji Abiola, son of the late politician and business mogul, Chief M.K.O Abiola, yesterday in Lagos opted for an out-of-court settlement in the N35.5 million stealing charge preferred against him.

Abiola, who spoke through his lawyer, Mr P.O. Jimoh-Lasisi, told an Ikeja High Court that an application had been served on the prosecution, the Economic and Financial Crimes Commission (EFCC) about the move to settle out-of-court.

Abiola, who was arraigned on June 30 on a charge of stealing and fraudulent conversion, had pleaded not guilty.

The EFCC had alleged that the accused on May 24, 2008 collected N35.5 million from one Mr Jide Jose under the pretext of importing printing machines for him from Switzerland.

It also claimed that Abiola failed to supply the machines to the complainant and converted the money to personal use.

It said the offence contravened Section 390 (7) of the Criminal Code, Laws of Lagos State.

Jimoh-Lasisi had earlier moved a motion seeking to withdraw the charge preferred against the son of the acclaimed winner of June12, 1992 presidential election before an agreement for the out-of-court settlement was reached by both parties.

The prosecution counsel, Mr Omeiza Adebola, was however, absent at Thursday's sitting.

Justice Adeniyi Onigbanjo adjourned the case to Dec. 1. (NAN)