The trial of the A&P Foods Limited Finance Director, Fidelis Umukoro, over alleged N164m fraud before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos State, has been concluded as the defence closed its case.
Umukoro was arraigned by the Economic and Financial Crimes Commission on February 11, 2020 alongside Raremax Global Investments Limited, a company linked to him.
The defendant was charged with six counts bordering on conspiracy and stealing of N164,960,829. He pleaded not guilty to the charges.
At Tuesday’s proceedings, the prosecution concluded cross-examination of the defendant, who took to the dock to defend himself as a defence witness.
During cross-examination, the prosecuting counsel, T. J Banjo, confronted the defendant with several portions of the statement he made to the EFCC.
Admitted by the court as Exhibit P3, the prosecuting counsel pointed Umukoro to comments he put down in his statement during interrogation.
He was made to read from the statement, which read in part, “I am the MD of Raremax Global Investments Limited; N164.8m plus were paid in piecemeal and direct for a project which was owned by my related companies.”
Banjo alleged that the funds were diverted from A & P Foods Limited when the defendant was the authorised signatory to the company’s account, to Raremax Global Investments Limited, where he was a former managing director, and to other companies where he had interests.
After the cross-examination, the defence counsel, P.O. Ogunnubi, informed the court of his intention to close the case.
Justice Dada adjourned the matter till July 13, 2022 for adoption of final written address.