N1.7m Fraud: Court Issues Warrant On Daily Times Buyers

An Ikeja High Court, yesterday, issued a bench warrant for the arrest of two directors of Folio Communications Ltd., which bought Daily Times Nigeria Ltd (DTN). The directors are the Anosike brothers: Fidelis and Noel.

Justice Habeeb Abiru ordered the Inspector-General of Police to arrest and produce the brothers before the court on September 28.

Our correspondent reports that Abiru issued the warrant following the failure of the two to appear before the court to face charges of stealing N1.7 billion belonging to the DTN.

Prosecution counsel, Mr Ernest Ezebilo had prayed for the warrant which, he said, would facilitate the arraignment of the directors.

He submitted that the prosecution had served the proof of evidence on the brothers but they failed to appear for arraignment.

Our correspondent reports that the brothers are facing a 40-count charge of stealing and fraudulent acquisition of property.

They were accused of stealing N1.7 billion worth of property belonging to the DTN on March 14, 2007.

The directors are also facing a 21-count charge of illegally siphoning billions of naira from the DTN, before a Federal High Court in Lagos.