Sunday, 13 March 2022

Alleged $32. 6bn Fraud: Lagos Court Strike Out Charges Against Princess Kolade


A Federal High Court sitting in Lagos on Friday struck out the N32.6bn charge preferred against Princess Toyin Kolade, the Iyaalaje of Odualand, by the office of the Attorney-General of the Federation (AGF).

Justice Peter Lifu gave the verdict sequel to a withdrawal application made by the prosecutor, Dr. Pius Akutah, a Chief Counsel in AGF's Office. 

Dr. Akutah said he applied to withdraw the charge, as result of a letter from the nominal complainant, Access Bank Plc. 

Counsel to Kolade, Mr. Dele Adesina (SAN) commended the conduct of the prosecution as a professional act by withdrawing the charge after objection was raised. 

Also, Mr. Dada, A. Awosika (SAN), counsel to other defendants,  equally commended the prosecution on the withdrawal.

They, however, urged the court to dismiss the charge and acquit and discharge the defendants because the charge was predicted on a businessman transaction.

However, Justice lifu, in his bench ruling, held that since the case was not heard on it merit but merely withdrawn before trial commenced, the appropriate other to make was to strike it out. 

Justice Lifu, consequently, struck out the charge and discharged all the defendants. 

AGF had in a charge marked FHC/L/407c/2019, dragged Princess  Toyin Kolade alongside four india Nationals, namely: Prem Garg, Devashish Garg, Bhagwan Simgh Rawat and Mukul Tyagi and two Britons, Marcus Wade and Andrew Fairie, said to be at large, before the court over alleged $32.6bn fraud

They were charged alongside four companies: Metal Africa Steel Products Limited, Wilben Trade Limited, Fisolak Global Resources Limited and Kannu Aditya India Limited.

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