The Economic and Financial Crimes Commission has arraigned a Professor, Uche Edwin, before the Federal High Court sitting in Ikoyi, Lagos, on charges of alleged N1.4 billion fraud.

This was disclosed in a statement signed by the EFCC’s Spokesperson, Wilson Uwujaren on Thursday.

Edwin was arraigned alongside his companies, Visionary Integrated Consulting Limited, NEMAD Associates Limited and Revamp Global Enterprise, on an 11-count charge bordering on conspiracy, retention and conversion of funds to the tune of N1, 473,367,046.04 belonging to Maize Growers, Processors and Marketers Association of Nigeria.

He, however, pleaded “not guilty” to the 11-count charge.

One of the counts reads: “ That you, Professor Uche Chigozie Edwin, Visionary Integrated Consulting Limited, Nemad Associates Limited and Revamp Global Enterprise, sometime in 2021 in Lagos, within the jurisdiction of this Court , conspired amongst yourselves to use the sum of N1, 473,367,046.04, property of the Maize Growers, Processors and Marketers Association of Nigeria, which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit: fraud; and you thereby committed an offence , contrary to Section 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3) of the same Act.”

The prosecution counsel, C.C. Okezie, asked the court for a trial date and also asked that the defendant be remanded.

The defence counsel, Mobolaji Akintunde, in response, made an application for bail on behalf of his client.

He asked the court to admit his client to bail and also implored the court to allow his client to be remanded in EFCC custody pending when he would be able to meet the bail conditions the court might impose.

In a short ruling, the judge, Nicholas Oweibo, allowed bail to the defendant in the sum of N1 million and two sureties in like sum.

The sureties, according to the court, must possess landed property within the jurisdiction of the court, show a tax clearance certificate of three months as well as their passport photographs.

The defendant was also ordered to deposit his passport with the court.

The judge adjourned the trial till 27 June for the commencement of the trial.

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