From Godwin Tsa Abuja

The Attorney General of the Federation and Minister of Justice (AGF), Prince Lateef Fagbemi (SAN), has taken over the prosecution of the alleged $18 million fraud case against the Managing Director and CEO of Equinox Oil and Gas Limited, Alhaji Mohammed Asibelua, his director, Aliyu Maccido, and others.

The other defendants in the four-count charge marked CR/252/2021 are Equinox Exploration Ltd; Equinox Realtors Limited; Equinox Oil & Gas Limited and Equinox Group Limited.

The matter came up for arraignment on Wednesday before a High Court of the Federal Capital Territory (FCT) in Garki. However, a lawyer from the AGF’s office, Adoronke Imana, informed the court that the AGF had taken over the prosecution in the exercise of his powers under Section 174 of the 1999 Constitution (as amended).

Imana stated that she was unaware of the defendant’s whereabouts and lamented that the police had frustrated the AGF’s efforts to take over the case for the past four years by refusing to forward the case file to his office. She requested a short adjournment to enable the AGF to take further steps.

“This matter is slated for arraignment, however, I have been directed by the AGF to take over this case pursuant to his powers under Section 174 of the 1999 Constitution and by the authority in State V Ibori,” she told the court.

Counsel to the defendants, Dr. Michael Ngidi, said he did not object to the AGF taking over the case but stated that he had filed a motion challenging the court’s jurisdiction to entertain the case.

Eze Kennedy, watching the brief of the nominal complainant, also did not object to the AGF taking over the matter.

Justice Belgore adjourned the case to June 25 for arraignment.

The defendants were charged by the Inspector General of Police for allegedly defrauding Guarantee Trust Bank to the tune of $18 million.

The charge, signed by Simon Lough, reads:

“That you, Alhaji Mohammed Asibelua ‘M’ adult, of No: 3 Osumeyi River Close Maitama, Abuja, MD/CEO of Equinox Exploration Ltd, Equinox Realtors Ltd, Equinox Oil and Gas Ltd and Equinox Group Ltd, Aliyu Maccido ‘M’ 51 years of No. 6 Oguda Close Maitama Abuja, Director of Equinox Exploration Limited, Equinox Group Limited of plot 523, Usuma Close Maitama, Abuja; Equinox Exploration Ltd of No 6 Usuma Close Maitama Abuja; Equinox Realtors Ltd and Equinox Oil and Gas Ltd of No. 5 Oguda close Maitama, between 18th December 2006 and 30th May 2007, in Abuja, within the jurisdiction of the court, while acting in concert and with intent to defraud Guaranty Trust Bank PLC, conspired together to commit felony to wit: obtaining money by false pretence and you thereby committed an offence contrary to section 8(a) of the Advance Fee Fraud and other related offences Act, 2006.”

The charge further alleges that the defendants, between 1st December 2006 and 31st May 2007, in Abuja, within the jurisdiction of the court, while acting in concert and with intent to defraud GTB PLC, deceitfully collected the sum of $5, 500.000.00, $2, 000.000; $3,150, 000.00, $7, 500, 000.00 performance bond in favour of British Gas Exploration and Production Nig. Ltd as loans and secured the said loans with the following:

(a) Tripartite legal mortgage over landed properties located in Maitama, No: 34 Cadestral zone A6 Maitama and plot 28/29 Cadestral zone A6 Maitama, Abuja (b) Tripartite legal mortgage over a property located at No:3 Minister Hills, Colorado close Maitama, Abuja, with an estimated value of N510m. (c) All asset debenture over the company’s assets (d) Letter of undertaking to route $1.3m through its account with the bank on a quarterly basis, (e) Counter Indemnity of Equinox Oil and Gas Limited in favour of the bank and (f) Personal Guarantee of the CEO Alhaji Mohammed Asibelua.

The prosecution alleged that “however, having collected the money, you surreptitiously requested the original title document of the property located at No:3 Colorado close, Maitama Abuja, used as collateral on the pretence that you will proceed with the project and for AGIS to issue a new Certificate of Occupancy for the extension of the plot behind and having received the title document from GTB Plc, you used same to obtain another loan of N1,125, 000.00 from Aso Savings and Loans Plc. You thereby committed an offence contrary to section 1(1) and punishable under section 1(3) of the Advance Fee Fraud and Other Related Offences Act 2006.