Businesswoman Arraigned For N2bn Investment Scam
The Economic and Financial Crimes Commission, EFCC, on Thursday, May 25, 2023, arraigned one Titilayo O. Eboh and three companies before Justice S.U Bature of the FCT High Court, Maitama Abuja on a three count charge bordering on obtaining under false pretense, foreign exchange malpractices and money laundering to the tune of N2.245.095.000 000 (Two Billion, Two Hundred and Forty Five Million, Ninety Five Thousand Naira Only). The money was received from various organizations as forex investment but allegedly diverted by the defendant.
She was arraigned alongside her companies, Chayomi Aluminum Ltd, Chayomi Petroleum Ltd and Chayomi Multi Services Limited. The defendant pleaded not guilty to all the charges.
In view of her plea, the prosecution counsel, Alilu Abubakar asked for a date for trial to commence, while praying the court to remand the defendant in the EFCC custody to enable close monitoring as she has a history of changing addresses or absconding.
However the defence counsel, Garba Zekeri prayed the court to grant his client bail citing the defendant`s state of health.
Justice Bature adjourned the matter till November 6 and 7, 2023.
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