First Nation MD, Kayode Odukoya’s N1.7bn fraud case heads to judgement on Dec 1

Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, adjourned the judgment date to December 1, 2023, in the alleged N1.7bn fraud case involving Kayode Odukoya, the Managing Director and Chief Executive Officer of First Nation Airways Limited.

Odukoya, along with First Nation Airways Limited and Belleview Airlines Limited, faces a seven-count charge including forgery, use of false documents, perjury, stealing, and obtaining credit by fraud, contrary to Section 85(1), 86(1), 278(1)&(b), 285(1), 313(1)(a) &(b), 361(1)(a)& (b), 363 (1) and 364(1) of the Criminal Law of Lagos State of Nigeria 2011.

One of the counts alleges that on or about August 29, 2013, in Lagos, Kayode Odukoya and First Nation Airways obtained credit of N307,268,406.43 from Skye Bank Plc (Now Polaris Bank Ltd) using fraudulent means. Another count involves the conversion of the sum of N1,742,994,962.04 from Skye Bank Plc for personal use.

Odukoya had pleaded “not guilty,” leading to the commencement of the trial. The prosecution presented five witnesses and several documents before closing its case on November 30, 2020. The defendant then applied for a no-case submission, which was dismissed by the Judge on January 11, 2022. The defendant subsequently defended himself, denying the allegations.

During the recent court proceedings, the prosecution and defense counsels adopted their final written addresses. The prosecution urged the court to affirm that they had proven their case against the defendant, while the defense requested the court to discharge and acquit their client.

Justice Dada listened to both parties and scheduled the judgment for December 1, 2023.