The Economic and Financial Crimes Commission (EFCC) has stepped up its anti-corruption crusade, arraigning businessman Adeseun Adeniyi Olukunle before Justice A. O. Okunuga of the Lagos State High Court sitting in Ikeja. Olukunle was docked alongside his company, Chanaiyah International Limited, on a 10-count charge bordering on obtaining money under false pretences, stealing, and the retention of stolen property.
According to the anti-graft agency’s Lagos Zonal Directorate 1, the alleged offenses contravene Sections 280 and 287 of the Criminal Law of Lagos State, 2011, alongside Section 328 of the same statute.
During the court proceedings, prosecuting counsel Bilikisu Buhari detailed how the defendants—acting alongside one Omotosho Abraham Aremu, who is currently at large—sometime in 2025 within the jurisdiction of the court, fraudulently converted massive sums of money belonging to Temitope Bolarinde Samuel (operating under the corporate name Boteam Nigeria Limited). Highlights from the charge sheet include the illegal diversion of N11 million for the use of Faniran Olusoji John, and another N19 million converted for the use of Omotayo Faniran.
Plea and Legal Battles
When the 10-count charges were read aloud in the courtroom, Olukunle entered a plea of not guilty.
Following the defendant’s plea, the prosecution urged the court to fix a trial date and order the remand of the defendant in a correctional facility. Buhari also requested the court to enter a formal plea of “not guilty” on behalf of the second defendant, Chanaiyah International Limited, since its principal controller, Omotosho Abraham Aremu, remains evading law enforcement. The presiding judge granted the request.
In response, defense counsel Yusuf T. Nurudeen moved an application for bail, fiercely urging the court to admit his client to bail on the most liberal terms possible.
Bail Conditions and Trial Date
Delivering his ruling on the bail application, Justice Okunuga admitted Olukunle to bail in the substantial sum of N300 million, accompanied by two sureties in like sum.
To ensure compliance and secure appearance throughout the trial, the court slammed strict conditions on the sureties, mandating that:
- At least one surety must own landed property situated within the court’s jurisdiction.
- The landed property and credentials are subject to rigorous verification by the court Registrar.
- Both sureties must tender verifiable evidence of tax payment.
Justice Okunuga subsequently adjourned the matter to January 18, 19, and 20, 2027, for the full commencement of trial.
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