In a fourty seven count fourth amended criminal charge  number FHC/L/479C/2013 filed before the court by the prosecuting counsel Chief O. E. B. offiong SAN. It was alleged that prince Johnson Adekunle Adeyeba,former Director /majority shareholder of the defunct Gulf Bank of Nigeria Plc,Babajide Rogers, former managing Director and Chief Executive officer of the bank, Uche Uwechia former company secretary of the bank with other principal staff members of Gulf bank now at large on between April 2001 and September 2004,knowingly, recklessly, negligently and willfully without regard to laid down procedures for the granting of loans, proceeded to grant loan in the sums of N4,160,000,000.00 and $55,300,000

 Ibom power company limited, LYK Enginering Company limited, Gareth Mervyn Wilcox managing Director of Ibom Power Company limited and LYK Engineering limited and with other principal staff members of lbom power company and. LYK Engineering company limited now at large about 1st of April 2001while conspiring with prince Johnson Adekunle Adeyeba, Babajide Rogers and Uche Uwechia knowingly and recklessly grant loan of N450million to the aforementioned companies as customers of the Gulf bank Plc knowingly provided false statements, non -existent,and fictitious information for the purpose of wrongfully avoiding the repayment of the loan.

Prince Adekunle Adeyeba being the alter ego and owner of Fabisco Allied  company, sublime commodities,Eagle Energy limited Companies,used his position as a Director and majority shareholder of Gulf bank, without providing:adequate approval;adequate security or collateral; proper documentation and contrary to accepted banking practice approved loan of  N2,086,179,775.24 for these companies and also in the same circumstance obtained a loan of N70million for his own personal use contrary to section 15(1)(c) (2) and (3) of the failed banks (recovery of debt) and financial malpractices in banks act Cap F2,2010 and punishable under section16(1),(2),18(1)(2) and 19(4)of the failed banks (recovery of debt and Financial Malpractices

 It was further alleged that Prince Johnson Adekunle Adeyeba Taurus Shelter Company, Ignatius Ukpaka Managing Director of Taurus Shelters limited,John Ezegwu and Uche Uwechia with intent to defraud, conspired to conceal the title documents to landed property with certificate of occupancy number 272796 dated 20th June 2003 registered as plot 22,Zone K Federal Government layout Banana Island Ikoyi Lagos valued at N600milion which said title documents Prince Johnson Adekunle Adeyeba had agreed to transfer to Gulf bank of Nigeria Plc

Uche Uwechia the former Company secretary of the defunct Gulf bank of Nigeria Plc between 2001-2004. being connected with the grant of loan to prince Johnson Adekunle Adeyeba knowingly and through his negligence failed to perfect title of Gulf bank over a piece of land at plot 23 Zone K Banana island which was used as a collateral to secure the indebtedness of Prince Johnson Adekunle Adeyeba to Gulf bank.

When the case was  mentioned,Barrister Fidel Albert representing the first defendant Prince Johnson Adekunle Adeyeba told the court that he has just been briefed about the case, therefore he needed time to study the case file, other defence counsels, Paul Usoro SAN and Tayo Oyetibo SAN  did not raise any objection.

       C

onsequently the presiding Judge Rilwan Aikawa  adjourned till 21st of April, 2020 when the defendants will be arraigned.