Polaris Bank Exposes Kayode Odukoya Of Forgery For Loan Worth N2bn

The successor of Skye Bank, Polaris bank exposes Kayode Odukoya over alleged forgery of the document he used to get a loan worth of 1.7 billion naira from the bank. The Managing Director of First Nation Airways is exposed by Mr. Patrick Ogo before the Ikeja Special Offences Court on Friday. He was apprehended on the 15th of March, 2018 for a four-count charge of forgery, perjury, stealing and Presentation of fake documents but pleaded not guilty, NIGERIA NEWS reports.

The lead counsel to the Economic and Financial Crimes Commission, EFCC, is there when Mr Pactrick, the legal adviser to the bank testified to Odukoya’s crime.

The loan in which he got on several occasion between 2007 to 2012 and about 3.4 billion naira and 2.4 million dollars as at December 2016. The prosecutor representative for the bank, Mr Patrick explains how Odunkoya took loans from the bank as below:

“As at December 2016, he obtained facilities accumulating to about N3.4 billion and 2.4 million dollars.

“At the point of the first application for these facilities, the defendant undertook to avail the bank of some collateral.

“The collateral include properties at 29 and 30, Oduduwa Way, Ikeja, and No. 35, Ladipo Babaye St., Ikeja, which the first defendant alleged belonged to him.

“On the basis that the property belonged to him, the bank disbursed the loan facilities to the defendants.

“When the bank commenced mortgage of these properties with particular reference to the property at No. 29, Oduduwa Way, Ikeja, with registration No. 33 on page 33 volume 1011 at the Lagos State Land Registry, Alausa, it was discovered to be false.

Mr. Patrick further shed more light by saying:
“Relying on same, the bank wrote to the Land Registry to confirm the registered number as furnished by the defendant and the bank received a response that the referred number does not exist in the record to the referred property.”

Mr. Patrick said that the bank received a reply from the Land Registry uncovered the fact that Odukoya provided a sworn affidavit, memorandum of loss, police extract and National Mirror Newspaper published on the 8th of March, 2013. The document title was declared not stated on page 50 of the publication and added that some amount of money would be paid to whoever finds it.

The Polaris Bank management, later on, discovered that the property registration number provided by Odukoya is forged and use the property to secure another loan from other banks.

Mr. Patrick further explains the whole crime process as quoted below:
“The bank’s internal investigation in respect of that property showed that the registration number of that property was Page 5, Vol. 5 of 1011, which the first defendant had used as collateral.

“The bank thereafter instructed its external solicitor to petition the EFCC as regards the act of the defendant.

“The instructed solicitor also wrote to the defendant referring to the converted sums of the bank which were earlier stated as N3.4 billion and 2.4 million dollars.

“The defendant responded that the referred amount was not involved but rather it was N1.7 billion.

“Subsequently another petition was written by our lawyer to the EFCC to carry out an investigation on the fraudulent act of the defendant of obtaining the bank’s money by false representation of facts.

“Investigations were carried out which consequently made me make statements to the EFCC in respect of the suit,”

Mr. Patrick states during the court proceedings of Odukoya’s case as follows:

“My lord, when Bellview Airlines Ltd. was in operation, it started banking with Skye Bank Plc in 2006/2007.

“First Nation Airways came onboard with the same alter ego of the first defendant, and upon the application of Skye Bank, there was a memorandum of understanding wherein First Nation Airways took over the outstanding indebtedness of Bellview Airline.

“The money has not been returned to the bank, my lord, till today. This money is about N1.7 billion according to the defendant,”

The defendant, Odukoya is then charged with Presentation of Fake Document, Perjury, Stealing and Forgery and the crime violate Sections 85, 86(1) 278(1)(b), 285, 361(1),(a) (b), 363 and 364(1) of the Criminal Law of Lagos State, 2011.

The case is then adjourned by Justice Mojisola Dada till 24th of June, 2019.