Alleged N2.1bn arms fraud: FG to re-arraign Almond Projects CEO, Olugbenga Obadina

Court

The Federal Government will on June 26 re-arraign the Chairman and Chief Executive Officer of Almond Projects Limited, Olugbenga Obadina, over an alleged N2.1bn arms procurement fraud, following a delay in court proceedings on Monday.

The case, which was slated for hearing before Justice James Omotosho of the Federal High Court, Abuja on Monday, was stalled due to the unavailability of the amended charge in the court’s records.

Obadina is being prosecuted by the Economic and Financial Crimes Commission over his alleged role in the diversion of funds meant for arms procurement under the former National Security Adviser, Col. Sambo Dasuki (retd).

The businessman and his company were last re-arraigned on January 13, 2024, on eight counts bordering on money laundering involving N2.1bn.

Both defendants pleaded not guilty, and Justice Omotosho ordered Obadina’s remand at Kuje Correctional Centre pending the fulfilment of bail conditions.

According to the EFCC in suit number FHC/ABJ/CR/142/2016, Obadina and Almond Projects Limited allegedly received N648m on April 3, 2014, into a Zenith Bank account belonging to the company from the Office of the National Security Adviser’s account with the Central Bank of Nigeria without any contract award.

The funds are believed to be proceeds of unlawful activity linked to Dasuki, constituting an offence contrary to Section 15(2)(d) of the Money Laundering (Prohibition) Act, 2011 (as amended in 2012), and punishable under Section 15(3) of the same Act.

The case was initially heard by Justice Nnamdi Dimgba, who had adjourned it for the adoption of final written addresses on July 4, 2024. However, his elevation to the Court of Appeal led to the reassignment of the matter to Justice Omotosho.

During Monday’s proceedings, the prosecuting counsel, Ibrahim Buba, informed the court that the EFCC filed an amended charge on May 2 and had served it on the defendants.