Justice Rahman Oshodi of the Ikeja Special Offences Court has set May 5 for the arraignment of Friday Audu, a businessman accused of $2.6 million USDT and N3.5 billion fraud retention.
The Economic and Financial Crimes Commission (EFCC) has filed a seven-count charge against Audu and his company, Genting International Limited, alleging retention of stolen property, forgery, and possession of fraudulent documents.
When the case was called yesterday, the EFCC Counsel, Mrs Bilikisu Buhari, informed the court that the defendants would be arraigned.
Dr. Muiz Banire (SAN) appeared for the first defendant, Audu, while the second defendant, Genting International Ltd, was not represented by any counsel.
Buhari informed the court that the first defendant resisted service and representation on behalf of the second defendant.
The prosecution then requested permission from the court to serve a hearing notice at the second defendant’s last known address.
Justice Oshodi granted the prosecution’s request, adjourning the case until May 5 for arraignment.
The charge sheet, which was filed on April 15, 2026, stated that Audu and his business conspired to keep $1,262,000 USDT in the wallet address TP6UTEmch6cto72Y7Pj3Bkn84LSqjSr7PX (binance), which was fraudulently obtained.
The anti-graft agency also alleged that the defendants retained $1,300,203 USDT in the wallet address TQbgiFXAf17RX8j2nkFwwzBDo22WWrdcRn (BYBIT), property fraudulently obtained.
The commission further argued that the defendants colluded to fraudulently hold N3.5 billion in funds obtained through fraud in Genting International Co. Ltd.’s Union Bank account number 0225100403.
The EFCC further claimed that the defendant purposefully falsified a document known as the “Ultimate Beneficial Ownership (UBO) Declaration Form” at some point in 2024, claiming that Mr. Baffale Yakubu had signed it.
The prosecution claims that the alleged offenses are in violation of Sections 6 and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, as well as Sections 328, 365, and 411 of the Lagos State Criminal Law, 2011.
