By TAIYE AGBAJE

The Federal High Court in Abuja has cautioned Mr Gimba Ya?u, former Managing Director and Chief Executive Officer (MD/CEO), Federal Mortgage Bank of Nigeria (FMBN), against frivolous adjournment in the 65 million-dollar fraud trial.

Justice James Omotosho gave the warming following an oral application seeking for an adjournment by Benjamin Ogar, the lawyer who appeared for Ya?u on Wednesday,

The News Agency of Nigeria (NAN) reports that the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has filed the charge marked: FHC/ABJ/CR/333/24 against Ya?u and four others.

The others include Bola Ogunsola, Tarry Rufus, Good Earth Power Nigeria Limited and T-Brend Fortunes Limited as 2nd to 5th defendants respectively.

While Ogunsola is a former FMBN director, Rufus is the T-Brend Fortunes Ltd?s MD.

They were alleged to have diverted $65,000,000 US dollars allocated for the construction of 962 residential units at the Goodluck Jonathan Legacy City in Kubwa, Abuja.

The defendants were arraigned on Nov. 25, 2024, on five counts but pleaded not guilty to the charge.

After the plea of the defendants, they were admitted to a N100 million bail each with two sureties in like sum.

Following their not guilty plea, the judge adjourned the matter until Feb. 6 for trial.

However, on the last adjourned date, the matter could not go on due to an application for adjournment to enable the defence study the documents served on them by the prosecution.

When the case was called on Wednesday, the ICPC?s lawyer, Osuobeni Akponimisingha, told the court that he was ready to proceed with the trial with five witnesses lined up to testify in the matter.

However, Ogar, who represented Ya?u, told the court that the 1st defendant (Ya?u) was not ready to go on with the case because the lead counsel, Tawo Tawo, SAN, had written to the court seeking an adjournment.

Ogar said Tawo was not disposed to be in court for the matter because he lost a nephew, who was like a son to him and as such, cannot be in court for the proceedings.

He said the lead counsel preferred to handle the proceedings personally.

Akponimisingha confirmed receiving a call from the senior lawyer for the 1st defendant on Tuesday, informing him of the demise of his nephew and that a letter seeking for an adjournment would be filed.

He, however, said that he had not been served with the letter.

The prosecutor said he would not oppose the request for adjournment since it had to do with death.

Justice Omotosho, in his response, expressed his condolences to Tawo over the demise.

The judge, however, cautioned the defence counsel against causing undue delay of the proceedings through request for adjournment.

He observed that the case was adjourned at the last sitting at the instance of the lawyer to Ya?u.

The judge queried Ogar, who held the brief of Tawo, why he was not familiar with the case he had come to defend.

He advised junior lawyers to always be prepared and be familiar with the cases they are following their seniors to do in court.

?All the junior counsel coming to this court must be prepared and have knowledge of the case they are accompanying their senior lawyers to handle,? he said.

Justice Omotosho, who emphasised the importance of junior lawyers having the full knowledge of cases, said their contribution might be the saving grace.

The judge consequently adjourned the matter until May 7, May 9 and May 12 for hearing.

The ICPC, in the charge, alleged that the defendants contravened the Public Enterprises Regulatory Commission Act and Section 19 of the Money Laundering (Prevention and Prohibition) Act, 2022.

The commission accused Ya?u of making payment to Good Earth Power Nigeria Limited of the sum of N3,785,000,000.00 out of the total contract sum of $65,000,000, for the development of 962 units of Residential Housing in Kubwa, Abuja named, ?Goodluck Jonathan Legacy City? contrary to accepted practice.

The charge stated that Ya?u and Ogunsola, in their roles as CEO and executive director of the bank in August 2012, had secured a loan of N14 billion from Ecobank Nigeria Plc on behalf of the bank.

ICPC further alleged that Yau, as the then CEO of FMBN, awarded the $65 million contract despite knowing that the company lacked the capacity to carry out the contract.

It added that the project, however, remains incomplete, ?as of today thereby amounting to economic adversity for the bank and in violation of Section 68(1) of the Public Enterprise Regulatory Commission Act, CAP P39, Laws of the Federation, 2004.?

The other defendants were accused of giving and receiving $3,550,000.00 of the contract sum in cash in contravention of the Money Laundering Act.

Rufus, Good Earth Power Nigeria Limited and T-Brend Fortunes Limited were accused of directly converting the sum of N991,399,255 into $3,550,000.00 and handing over the same to one Jason Rosamond (now at large) in cash, contrary to Section 18(2) (b) and punishable under Section 18 (a) of the Money Laundering (Prevention and Prohibition) Act, 2022.(NAN)

Update news