Alleged N20m Fraud: Witness Indicts Ex-NBA Chairman

The Provost of the Nigerian Bar Association, NBA, Ikeja Branch, Lagos, OlubunmiOdeniyi, yesterday, told Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, how insurance premium funds paid by members of the association were not remitted to any insurance company during the administrations of two former chairmen of the Association, AdesinaOgunlana and YinkaFarounbi, respectively.
Both Ogunlana and Farounbi were arraigned alongside KappoAderinola, a former Treasurer of the NBA, Ikeja branch, on Wednesday, May 22, 2019, on a 30-count charge bordering on conspiracy to commit felony, money laundering and stealing to the tune of N20, 100, 000.00 (Twenty million, One Hundred Thousand Naira), property of the NBA.
The second and third defendants, Farounbi and Aderinola, who were signatories to the accounts of the NBA, Ikeja branch, allegedly signed some cheques at different times without appropriate authorisation.
They also allegedly gave the cheques to the first defendant, Ogunlana, to cash fraudulently.
At the resumed hearing today, Odeniyi told the court that his investigations revealed that premiums paid by members of the association were not remitted to any insurance company, contrary to the claims by the defendants.
In his further testimony, Odeniyi, who is the second prosecution witness, PW2, told the court that he commenced investigation into the activities of the defendants and came out with his findings, after he was briefed by a member who alleged that the Association had not paid him any entitlement from the insurance policy.