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EFCC Arraigns Folake Kowo For N156m Fraud

Source: thewillnigeria.com
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SAN FRANCISCO, May 31, (THEWILL) – The Economic and Financial Crimes Commission, EFCC, Friday arraigned, Folake Idayat Kowo before Justice Lateefat Okunnu of a Lagos High Court sitting in Ikeja, on 7- count charge bordering on stealing and issuance of dud cheques.

A statement by the EFCC said Folake allegedly collected consignment of various brands of frozen fish worth N156million (one hundred and fifty six million naira) from Premium Sea Foods Limited to be sold in her cold-rooms in various locations in Lagos but converted the proceeds to her use.

She pleaded not guilty to all the charges when they were read to her.

One of the charges read, “That you Folake Idayat Kowo and Victor Aina Kowo (at Large) between June 2011 and January 2012, in Ikeja, within the Ikeja Judicial Division with intent to defraud stole and fraudulently converted to your own use the sum of N63, 000,000.00 (sixty-three million naira only) being proceeds of sale of 150 cartoons of frozen fish property of Time Unicorn Limited entrusted with you to sell.

Another count reads, “That you Folake Idayat Kowo and Victor Aina Kowo between the month of June 2011 and January 2013, in Ikeja, within the Ikeja Judicial Division, with intent to defraud stole and fraudulently converted to your own use the sum of N73, 000,000.00 (seventy-three million naira only) being proceeds of sale of 200 cartoons of frozen fish property of Stallion Nigeria Limited entrusted with you to sell”.

In view of her plea, the prosecuting counsel, Oyedepo Rotimi prayed the court to fix a date for trial and remand the accused person in prison custody. However, defence counsel, Olu Falana quickly informed the court that he had earlier filed an application for bail and served same to the prosecuting counsel. He claimed that the defendant had some medical issues but did not place any proof before the court.

Oyedepo objected to the claims of health challenges made by the defendant. He alleged that the defendant is a fraudster having issues of dual identity with the Nigerian Immigration Service. According to him, the Service found out that the defendant has two Nigerian E-passports bearing different names, but with the photograph of the defendant embossed on both.

The case was adjourned to June 10, 2013, for hearing on the bail application, while the accused person was remanded in Ikoyi prison.


He who cheats, at that instant, decides her fate.
By: Ayami Dennis