The Economic and Financial Crimes Commission (EFCC) has dramatically changed the course of events by charging Joel Mba Okodi with eight counts of theft and issuing a bogus cheque totaling an astounding N140 million in the Imo State High Court in Owerri.
Joel Mba Okodi, the defendant, was arraigned in front of Imo State High Court Judge C.C. Okereke, who oversaw the proceedings. According to Section 1(1)(a) and (b) (i) and (ii) of the Dishonoured Cheque (Offences) Act Cap D11 of the Revised Edition (Laws of the Federation) 2007, the charges include the false issue of a cheque that resulted in dishonour because there were not enough funds.
Okodi entered a “not guilty” plea when the accusations were read to him, beginning what looks to be an interesting legal struggle. The prosecution, under the direction of attorney M.T. Iko, moved quickly to set a trial date, and N.N. Chukwuemeka, the defence attorney, did not object. On the other hand, the defence team asked the judge to release the accused person on bond.
Joel Mba Okodi was given significant N50 million bail by Justice Okereke, with two sureties having to testify to affidavits of means of subsistence and possessing landed property with a Certificate of Occupancy (C of O). For identification purposes, the defendant also needs to provide a three-year tax clearance.
The trial’s start date was set for February 29, 2024, while the bail application hearing was set for March 7, 2024. The offender has been ordered to be held in prison custody until the terms of the bail are fulfilled.
The charges stem from a petitioner’s claims that Okodi and his associates purportedly represented the Akwa-Ibom state government, offering to sell a dilapidated Abestonic Industrial Scrap Company in Oron Local Government Area for N140 million. However, after an initial deposit of N52 million and promises of the remaining balance, the petitioner allegedly discovered a reversal of authorization by the state government. Subsequently, the defendant issued a dishonored cheque, leaving the petitioner in financial distress.
The Atlantic Post will closely monitor the developments of this case, ensuring Nigerians are kept abreast of the twists and turns in this high-stakes legal showdown.
