The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Tuesday, November 8, 2022, arraigned a company, Stelmart Nigeria Limited, alongside its Chief Executive Officer, Mathew Oluwafemi Moses, and Chief Operating Officer, Mathew Veronica Omolayo, for an alleged N10m fraud before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos.
They are being prosecuted by the EFCC on a nine-count charge bordering on stealing contrary to Section 285(9)(b) of the Criminal Law of Lagos State.
One of the counts reads: “Stelmart Nigeria Limited, Matthew Veronica Omolayo and Matthew Oluwafemi Moses, on or about the 1st February, 2021 in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your own use, the sum of N10,000,000 (Ten Million Naira), property of 03 Capital Nigeria Limited.”
They pleaded “not guilty” to all the charges.
Following their pleas, counsel for the EFCC, G.O. Adebola, prayed the court to remand them at the Nigerian Correctional Centre.
The defence counsel, Victor Opara, SAN, however, informed the court of the applications for the bail of the defendants. “The applications have been served on the prosecution,” he added.
Opara prayed the court to admit them to bail.
While opposing the bail application, Adebola left the decision to grant bail to the discretion of the court.
Justice Dada granted the defendants bail in the sum of N50 million, with two sureties in like sum.
The sureties must give permission for lien to be placed on their bank accounts.
They are to show evidence of tax payment for the past three years.
The defendants were also ordered to submit their passports to the EFCC, pending the determination of the case.
They are to be remanded at a Correctional Centre of their choice, pending the fulfillment of the bail conditions.
The case has been adjourned till February 14, 15, 16 and 17, 2023 for commencement of trial.