Lateef Babatunde, Olanipekun Joseph, and Oyetunde Ibrahim have been charged by the Ibadan Zonal Command of the Economic and Financial Crimes Commission. The cases are being heard by Justice Adebukola Olajide of the Federal High Court located in Ibadan, Oyo State.
The antigraft agency’s Head of Media and Publicity, Dele Oyewale, released a statement on Tuesday, November 21, 2023, stating that the suspects were charged with three counts related to conspiracy and diversion of 33.360 metric tons of cocoa beans valued at N97 million.
The first count of the charges states: “That on or about December 21, 2022, in Ibadan, within the jurisdiction of this court, you, Lateef Babatunde, Oyetunde Ibrahim, Wahab Adisa (at large), Razaq Babatunde (at large), Ayobami Bello (at large), Ibrahim Fatai (at large), and Oladimeji Olaitan (at large) conspired to fraudulently convert 33.360 metric tons of cocoa beans valued at N97 million belonging to Olam Nigeria Limited. As a result, you committed an offense of conspiracy to commit felony, specifically stealing by conversion in violation of Section 516 of the Criminal Code, Cap 38, Laws of Oyo State, 2000.
“That on or about December 24, 2022, at Ibadan, within the jurisdiction of this court, you, Olanipekun Joseph, received 33.360 metric tons of stolen cocoa beans valued at N97 million belonging to Olam Nigeria Limited, thereby committing an offence of receiving stolen property in violation of Section 427 of the Criminal Code Law of Oyo State 2000,” states another charge.
When the charges were read to the defendants, they entered a “not guilty” plea.
Damilare Odemuyiwa, the prosecution’s attorney, requested a trial date from the court in light of the pleas.
In addition, he begged the court to confine the accused to a detention facility until their trial date.
Alabi Ogor, the defendants’ attorney, did, however, notify the court of his bail application that was submitted.
Judge Olajide gave N10 million in bail to each of the accused and an equivalent amount to each of the two sureties.
In addition, he mandated that the suspects remain under EFCC custody until their bail requirements were fulfilled.
The start of the trial was postponed until February 19, 2024.
