Judge Recuses from $42.5M Fraud Trial Involving Ecobank

Justice Akintayo Aluko of the Federal High Court in Lagos recused himself from a $42.5 million fraud trial involving five defendants: Prem Garg and Devashish Garg, both Indian nationals, and Marcu Wade, a British citizen. The trial concerns allegations of conspiracy to obtain funds under false pretenses related to rice imports, specifically involving Ecobank PLC.

The prosecution claims the defendants fraudulently obtained $42,485,900 intended for importing U.S. rice, diverting the funds for other purposes. The case was initially called without the presence of the defendants, except for Damola Seriki, who appeared for the first, second, and fourth defendants.

Justice Aluko dismissed allegations of bias against him, stating they were unsubstantiated, and opted to recuse himself to avoid any perception of bias. The case is to be reassigned to another judge, with a notice issued for the defendants to appear in court on October 23, 2025.