Alleged N4.29bn FX fraud: Court orders substituted service on UBA, others
By Onyewuchi Ojinnaka
Justice Rahman Oshodi of an Ikeja Special Offences Court on Monday ordered substituted service on United Bank for Africa Plc (UBA) and three other defendants over an alleged N4.29 billion foreign exchange fraud.
The defendants in the suit are Muyiwa Akinyemi, Amangbo Eziashi-Stephen, and two companies, Gesos Global Service Ltd. and Fedat Global Ltd.
Justice Rahman Oshodi granted the order upon an ex-parte motion moved by counsel to the Economic and Financial Crimes Commission (EFCC), Mr Temitope Banjo, seeking permission to serve the defendants through substituted means.
While granting the request, the judge held that pasting the charge and accompanying court processes at the defendants’ address would provide reasonable assurance that the proceedings would come to their attention.
“I have considered the supporting affidavit and am satisfied that the first proposed mode of service—pasting the documents in a conspicuous place at the address of the first, second, and third defendants—provides reasonable assurance that the proceedings will come to their attention,” Oshodi said.
However, he declined the prosecution’s alternative request to serve counsel representing the affected defendants.
“Relief number two, which seeks service on counsel for the first to third defendants, remains obscure and is struck out,” the judge said.
Granting the first relief, Oshodi ordered the prosecution to paste the charge and accompanying processes at the defendants’ address or any other address known to the commission.
“Accordingly, I grant permission for the prosecution to serve the charge and accounting processes by pasting them in a conspicuous place at the address of the first, second, and third defendants, known as UBA House, 57 Marina Street , Lagos Island, 19 Nnebue House Festac or at any other address known to the complainant/applicant,” he said.
The judge said the service would be legally recognised under the applicable state law.
“Under Section 88 of the Administration of Criminal Justice Law of Lagos State, service effected in this manner shall be deemed due service of the processes,” he said.
Th court thereafter adjourned the case until October 22 for arraignment and directed the prosecution to file affidavits before the next hearing.
“I adjourn the matter, due to the defendants’ absence, to October 22 and the prosecution is to file affidavits before the next scheduled adjourned date,” Oshodi said.
Earlier, Banjo had urged the court to permit the prosecution to paste the charge sheet and accompanying processes at conspicuous parts of the defendants’ addresses following their failure to appear for arraignment.
The prosecutor had sought substituted service on the first, second, third and fifth defendants at UBA House, 57 Marina Street, Lagos Island, or other addresses known to the commission.
The EFCC brought on a four-count charge against the defendants bordering on foreign exchange infractions, concealment of proceeds of unlawful activities, retention of criminal proceeds and money laundering.
The defendants’ arraignment had been earlier stalled on June 3 following their absence in court.
In one of the counts, the EFCC alleged that the defendants conspired between September 14, 2022, and March 20, 2023, to sell foreign exchange above rates stipulated by the Central Bank of Nigeria and subsequently retained and laundered proceeds of the alleged illegal transactions.
