Alleged $326bn Fraud: Court Strike out Charges Against Princess Kolade


A Lagos Federal High Court, today, struck out the N32.6bn charge preferred against Prince Toyin Kolade, the Iyaalaje of Odualand, by the office of the Attorney-General of the Federation (AGF).

Justice Peter Lifu who presided over the court thrown out the charge, sequel to a withdrawal application made by the prosecutor, Dr. Pius Akutah, a Chief Counsel in AGF’s Office.

Dr. Akutah said he applied to withdraw the charge, as result of a letter from the nominal complainant, Access Bank Plc.

Counsel to Iyalode Mr. Dele Adesina (SAN) commended the conduct of the prosecution as been a professional one by withdrawing the charge after objection is been raised.

Also, Mr. Dada, A. Awosika (SAN), counsel to other defendants in the equally commended the prosecution on the withdrawal, but urged the court to dismissed the charge and acquit and discharge the defendants because the charge was predicted from a businessman transaction.

However justice lifu in his bench ruling said that since the case was not heard on it merit but merely withdrawn before trial commenced, the appropriate other to make is to strike it out.

Justice Lifu, consequently, struck the charge and discharged all the defendants.

AGF had in a charge marked FHC/L/407c/2019, dragged Princess  Akolade alongside four india Nationals, namely: Prem Garg, Devashish Garg, Bhagwan Simgh Rawat and Mukul Tyagi and two Britons, Marcus Wade and Andrew Fairie, said to be at large, before the court on alleged charges.

Charged alongside the above-mentioned individuals are four companies: Metal Africa Steel Products Limited, Wilben Trade Limited, Fisolak Global Resources Limited and Kannu Aditya India Limited.


Sign up for our daily newsletter

Get the latest news delivered straight to your inbox every day. Stay informed with the Orijo Reporter's leading coverage of Nigerian and world news.


Please enter your comment!
Please enter your name here