They were arraigned by Port Harcourt’s Zonal Command of the Economic and Financial Crimes Commission, EFCC.
The couple was arraigned alongside their company, Dike & Phil Associates Ltd on Wednesday, November 29, 2023, by the Port Harcourt Zonal Command of the Economic and Financial Crimes Commission, EFCC, on five-count charges bordering on conspiracy, obtaining money under false pretence and criminal conversion of funds to personal use.
The couple pleaded not guilty to the charges when they were read to them. In view of their pleas, prosecution counsel Dr. B. Ubi, prayed the court for a trial date, while counsel to the defendants J. C. Okeke informed the court of his application for the bail of the first and second defendants. He prayed the court to grant the defendants bail to enable them prepare for trial.
Justice Ajoku granted the defendants bail in the sum of N1,000,000.00 ( One Million Naira only) each, with two sureties in like sum. Sureties must be civil or public servants with the Rivers State or Federal Government of Nigeria and must be on grade level 12 and above. The sureties must also deposit two recent passport photographs with the court registry, and must be resident in Port Harcourt and have Certificate of Occupancy which must be deposited with the court. Additionally, the sureties shall provide official letters of identification from the heads of their departments.
The prosecution should carry out verification of sureties and shall within 48 hours report to the court certified true copies of letters from the heads of their departments.
The defendants were remanded in the Port Harcourt Correctional Service pending the perfection of their bail conditions. The matter was adjourned to January 30, 2024 for commencement of trial.
The defendants were arrested over a case of alleged conspiracy, obtaining money under false pretence and conversion of funds. According to the petitioner, sometime in July, 2021, the 1st defendant, a former banker with Polaris Bank approached him and informed him of an investment opportunity through which he will be able to get appreciable returns of 10 per cent through his Limited Liability Company, Clipboard Office Super Stores Limited.
The victim, believing the 1st defendant, paid sums of money to her as an advance based on her directives for the execution of contracts from blue chip companies and organizations.
Investigations revealed that the defendants promised their victims a good return on investment, but converted the total sum of N500 million paid to them for personal use and every effort by the victim to get a refund proved abortive.
