EFCC Charges Oladipo Akanle with N23 Million Theft

The Economic and Financial Crimes Commission (EFCC) arraigned businessman Oladipo Akanle and his company, Avalanche Trade 1307, before the Lagos State High Court in Ikeja over the alleged theft of N23 million. EFCC prosecutor James Banjo stated that the funds were mistakenly transferred into Akanle's Zenith Bank account and belonged to Chinedu Iyizoba.

The alleged offence occurred in January 2023, violating Section 278(2)(a) of the Criminal Law of Lagos State, 2011. Akanle pleaded not guilty, prompting Banjo to request a trial date and remand the defendant in a correctional centre.

Defence counsel Lanre Ogunlese (SAN) submitted a bail application, arguing that Akanle had refunded N10 million, leaving an outstanding balance of N13 million. Ogunlese emphasized his personal connection to Akanle and assured the court of his attendance at trial.

The prosecution did not oppose the bail application. Justice Ismail Ijelu granted bail, requiring Ogunlese to provide an undertaking to ensure Akanle's appearance in court.