Bank Of Industry’s Former MD, Others To Be Arraigned Nov. 23

The absence of the former Managing Director (MD), Bank of Industry (BoI), Rasheed Olaoluwa, and three others, Tuesday frustrated their planned arraignment by the Economic and Financial Crimes Commission (EFCC) before Justice Olubunmi Abike-Fadipe of the High Court of Lagos State, Ikeja.

Others expected to be docked before the judge, include: Sadat Abdullahi Aliyu, Mr Chibundu Edozie, and BGL Capital Limited.

They are to face 13 counts bordering on the alleged sale of BoI shares as slammed against them by the anti-graft agency.

In addressing the court, the Commission’s lawyer, Kehinde Adetoye, said though the case was slated for arraignment, the defendants were duly contacted that their arrangement would come up in court.

The counsel equally informed the judge that the defendants were granted administrative bail in 2020, and ought to be in court for their arrangement.

In his response, Olabode Iranloye, counsel to the 2nd defendant (Sadat Abdullahi Aliyu) tendered an apology for the absence of his client and gave the assurance that the defendants would be in court at the next adjourned date to take their plea.