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EFCC Arraigns Yusuf Kehinde Bakare For N1.3 Billion Fraud

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By Wilson Uwujaren

The Economic and Financial Crimes Commission, EFCC, on Tuesday, February 11, 2014 arraigned one Yusuf Kehinde Bakare before Justice Raliatu Adebiyi of the Lagos High Court, Igbosere on a 75-count charge bordering on conspiracy, stealing and obtaining money under false pretence.

Kehinde Bakare is alleged to have received the sum of N1, 472,285,294 (One Billion, Four Hundred and Seventy Two Million, Two Hundred and Eighty Five Thousand, Two Hundred and Ninety Four Naira) to advertise four (4) products namely: Gino Tomato Paste; Pomo Tomato Paste; Jago Milk Powder and. Jago D’ Lite Milk Powder on both radio and TV outlets across the country. He allegedly failed to do so and converted the money to personal use.

One of the charges reads:

“Yusuf Kehinde Bakare, Satish Nair (at large), Saravanan Janakarajan (at large), Sridhar Ganesan (at large), Fair Gate Marketing Communications Limited and Bethel Marketing Communications Limited between January 2011 and June 2012 at Lagos within the Lagos Judicial Division stole the sum of N1,472,285,294(One Billion, Four Hundred and Seventy Two Million, Two Hundred and Eighty Five Thousand, Two Hundred and Ninety Four Naira) meant for payment of Radio and Television Advertisement on behalf of Sosaco Nigeria Limited”.

The defendant pleaded not guilty to the charge.

Festus Ojo, the prosecuting counsel prayed the court to fix a date for trial and remand the defendant in prison custody.

However, Bolu Adegoruwa, counsel to the defendant urged the court to admit his client to bail as he had been on administrative bail since 2012 and has been reporting every month to the EFCC.

Justice Adebiyi adjourned the matter till February 14, 2014 for argument on bail application and ordered that the defendant be remanded in EFCC custody.

Wilson Uwujaren
Head, Media & Publicity
12th February, 2014

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