The Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, EFCC, on Thursday, July 31, 2025, arraigned one Olabode Rasheed Wale on a two-count charge bordering on stealing before Justice Mojisola Dada of Lagos State High Court sitting in Ikeja,Lagos.
He was arrested, following an intelligence report received by the Commission linking him to the fraudulent activities of an Organized Cyber Crimes Syndicate Network, OCSN.
Count one read “That you, Olabode Rasheed Wale, sometime within August 2024 and March 2025, in Lagos, within the jurisdiction of this Honourable Court, with a dishonest intent, stole and converted to your own use the sum of $35,000.00 (Thirty Five Thousand United States Dollars), property of George Onyeaka, thereby committed an offence stealing, contrary to and punishable under Sections 280 and 287 of the Criminal Law of Lagos State, 2015.”
Count two read “That you, Olabode Rasheed Wale, sometime in August 2024 and March 2025, in Lagos, within the jurisdiction of this honourable court, with intent to defraud, fraudulently obtained the sum of $35,000,00 (Thirty-Five Thousand United States Dollars) due to George Onyeaka from Fransisco under the false pretence that the money would be remitted as refund to George Onyeaka.”
He pleaded “not guilty” to the charge preferred against him and in view of this, the prosecution counsel, A.A.Usman, asked the court for a trial date and also prayed for the remand of the defendant in a Correctional Centre.
In a similar development, the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, EFCC on Thursday , July 31, 2025, arraigned one Iwunze Ikechukwu Favour on a one-count charge bordering on stealing to the tune of N208,384,000.00 (Two Hundred and Eight Million, Three Hundred and Eighty Four Thousand Naira only) before Justice Mojisola Dada of the Lagos State High Court sitting in Ikeja , Lagos.
The counts read “That you, Iwunze Ikechukwu Favour, sometime between January and December 2024, in Lagos, within the jurisdiction of this Honourable Court, with a dishonest intent, stole and converted to your own use the sum of N208,384,000.00 (Two Hundred and Eight Million, Three Hundred and Eighty-Four Thousand Naira), being value of several groceries and household items, property of Ogechi Okorie and G- Chinodan Ltd, thereby committed an offence stealing, contrary to and punishable under Sections 280 and 287 of the Criminal Law of Lagos State, 2015.”
He pleaded “not guilty “to the charge preferred against him .
In view of his plea, prosecution counsel, A.A.Usman, asked the court for a trial date and also prayed for the remand of the defendant in a correctional centre.
The defence counsel, N.M. Abraham, however, told the court of a pending bail application and moved same on behalf of the defendant.
Consequently, Justice Dada granted the defendant bail in the sum of N10,000,000( Ten Million Naira), with two sureties in like sum, one of whom must undertake that his account will be placed on lien.
The judge also ordered that the defendant’s passport be deposited with the court registrar.
Justice Dada adjourned the case till October 30,2025 for the commencement of trial and also ordered the defendant to be remanded in a Correctional Centre.
Responding, defence counsel, Dauda Shakirudeen, moved a bail application on behalf of the defendant, saying, “My Lord, it is a bailable offence and the defendant will be present in court for trial.”
Consequently, Justice Dada granted the defendant bail in the sum of N2,000,000 ( Two Million Naira), with two sureties in like sum, one of whom must undertake that his account will be placed on lien.
The judge also ordered that the defendant’s passport be deposited with the court registrar.
The case was adjourned till October 30, 2025 for the commencement of trial.
