The Economic and Financial Crimes Commission has arraigned a former Chief Medical Director of the Federal Medical Centre, Owo, Ondo State, Dr. Olufemi Omotosho, and four other suspects before the Federal High Court, in Akure on Tuesday for alleged involvement in an N84.8m fraud.

Other suspects are Adebayo Sunday Dada, Yusuf Saka Olarenwaju, Ogunleye Samson Adeyemi and Azeez Dayo Kola.

Omotosho, alongside the other suspects, was arraigned on an eight-count bordering on conspiracy and money laundering.

The suspects allegedly colluded to convert and launder the sum of N84,884,005.00 illegally obtained from the Federal Government when Omotosho was the head of the hospital.

The first accused person (Omotosho) was also alleged to have connived with other four suspects, to steal various sums of money belonging to the FMC, by using his position as the CMD of the institution.

This, the EFCC argued, was done through inflation of contracts, accounts manipulation and non- remittance of the institution’s account balance as mandated by the Central Bank of Nigeria at December 31 of each year.

One of the charges read, “That you, Dr. Olufemi Abiodun Omotosho, Adebayo Sunday Dada, Yusuf Saka Olarenwaju, Ogunleye Samson Adeyemi, Azeez Dayo Kola, sometimes in July 2013 at Owo, within the jurisdiction of this honourable court, did convert the sum of N22,641,164.92 property of the Federal Government of Nigeria, which sum you knew represented the proceeds of a crime with the aim of concealing the nature of the proceeds of the said crime and thereby committed an offence punishable under section 15 of the Money Laundering (Prohibition) Act No 11, 2011 (as amended).”

However, the accused persons pleaded not guilty to all the charges.

The counsel representing second and fifth defendants, Mr. Femi Emmanuel, as well as the counsel representing the 3rd and the 4th defendants, Dapo Agbede, both filed formal bail applications before the court

Also, the counsel representing the first defendant, Mr. Rotimi Olorunfemi, moved an oral application praying the court to grant his client bail.

Justice M.I Sani, who presided over the case, adjourned hearing in the bail applications till November 17. He also ordered that the defendants should be remanded in the EFCC custody pending the determination of their bail applications.

This story was initially published by The Punch