An Ikeja Special Offences Court has adjourned until May 5, 2025, for the arraignment of Friday Audu, who was accused of $2.6 million and N3.5 billion fraud.

Audu is to be arraigned alongside his company, Genting International Ltd, on a seven-count charge bordering on retention of stolen property, forgery and possession of fraudulent documents, preferred against him by the Economic and Financial Crimes Commission (EFCC).

The EFCC counsel, Mrs. Bilikisu Buhari, informed the court yesterday that the case was slated for the arraignment of the defendants. Dr Muiz Banire (SAN) appeared for the first defendant, Audu, while the second defendant (Genting International Ltd) was, however, not represented by any counsel.

Buhari informed the court that the first defendant resisted service and representation on behalf of the second defendant.The prosecution thereafter sought the leave of the court to serve a hearing notice on the last known address of the second defendant.

Justice Rahman Oshodi adjourned the case until May 5 for arraignment. According to the charge sheet, dated April 15, 2025, the EFCC alleged that Audu and his company retained stolen property by conspiring among themselves.

The anti-graft agency also submitted that the defendants conspired among themselves to dishonestly retain in Genting International Co. Ltd’s account number 0225100403 domiciled in Union Bank the sum of N3.5 billion funds fraudulently obtained.

It also alleged that the defendant, sometime in 2024, knowingly forged a document titled “Ultimate Beneficial Ownership (UBO) Declaration Form” and purported same to have been signed by one Baffale Yakubu.

According to the prosecution, the alleged offences violate Sections 328, 365 and 411 of the Criminal Law of Lagos State, 2011 and Sections 6 and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.