The Economic and Financial Crimes Commission (EFCC) has arraigned two companies, JBA Advisory Ltd. and Platform Capital Investment Partners Ltd., over allegations of fraud involving the dishonest retention of N47.9 million and \$300,000.
The case was brought before Justice Olubusola Okunuga of the Lagos State High Court on Tuesday. Both companies were charged with two counts related to the unlawful retention of funds suspected to be proceeds of crime.
According to the EFCC, between August 4 and November 23, 2023, JBA Advisory Ltd. dishonestly kept N47.9 million in its Providus Bank account. The funds are reportedly owned by Dargos Homes Investment Limited.
In a separate charge, Platform Capital Investment Partners Ltd. is accused of keeping \$300,000 in a Zenith Bank domiciliary account on September 30, 2022, also allegedly belonging to Dargos Homes Investment Limited.
During Tuesday’s hearing, JBA Advisory Ltd., represented by its Managing Director, Mr. Akintola Adesanmi-Ayodele, pleaded guilty to the charge. In contrast, Platform Capital, represented by its Chief Operating Officer, Mr. Adesolabomi Adedeji, pleaded not guilty.
Following the guilty plea from JBA Advisory Ltd., EFCC prosecutor Ms. Hannatu Kofar-Naisa called EFCC operative Mr. Lawal Hamza to give a brief review of the case. The court accepted several documents as evidence.
Ms. Kofar-Naisa also requested a date to begin trial against Platform Capital. The EFCC stated that the offences violate Section 328 of the Lagos State Criminal Law, 2015.
Justice Okunuga adjourned the case to June 17 for a report on the plea bargain application by JBA Advisory Ltd. and to begin the trial of Platform Capital.
The EFCC continues its efforts to recover allegedly stolen public and private funds, with a focus on financial institutions and corporate offenders.
