The Economic and Financial Crimes Commission on Wednesday arraigned a businesswoman, Oluwabukunola Gadzama, before an Ikeja High Court for allegedly stealing N34.5 million on the pretext of procuring a plot of land.

Mr Gadzama was arraigned alongside her company, Buildcon Global Services Ltd., on a two-count charge bordering on stealing and retention of proceeds of crime.

The defendant, however, pleaded not guilty to the charge.

The EFCC counsel, Franklin Ofoma, thereafter prayed the court for a trial date and urged the court to remand the defendant pending the commencement of trial.

The prosecutor alleged that the defendant committed the offences sometime between October 2021 and April 2022 in Lagos.

He alleged that the defendant stole and converted for her own use the sum of N34.5 million, property of the complainant, Adeyemi Joshua.

According to him, the money was meant for the purchase of a 300-square-metre plot of land situated at Mak Court Estate in Lekki.

The anti-graft agency also submitted that the defendant allegedly retained the money unlawfully.

The defence counsel, I.O. Lala, however, informed the court that he had a pending bail application and urged the court to hear it.

Mr Lala, while moving the application, argued that the defendant was ready to stand trial and that the offences for which she was charged were bailable.

He prayed the court to grant the defendant bail on liberal terms.

The prosecutor, however, opposed the bail application, arguing that the defendant was a flight risk.

Mr Ofoma argued that the defendant had on November 20, 2024, jumped administrative bail given to her by the EFCC.

Justice Ismail Ijelu, in his ruling, admitted the defendant to bail in the sum of N5 million with two responsible sureties in like sum.

Mr Ijelu stated that the sureties must be gainfully employed and must show evidence of three years’ tax payment to the Lagos State Government.

He added that the residences of the sureties must be verified by the chief registrar of the court.

“I hereby remand the defendant in the correctional centre pending the perfection of the bail application,” the judge said.

The court adjourned the case until April 15 for the commencement of trial.

(NAN)