The Economic and Financial Crimes Commission, EFCC has arraigned one Emmanuel Jayeoba and his son, Ademola Jayeoba Wales before the Federal High Court in Ikoyi, Lagos on a two-count charge bordering on illegal banking activities.
They were arraigned on Monday before Justice I. Nicholas Oweibo but they pleaded not guilty to the charges proffered against them by the EFCC.
The two count charges against them reads;
The two charges against the defendants reads thus:
- “ That you, Wales Kingdom Capital Limited sometime between October 2019 to December 2020 in Lagos within the jurisdiction of this Honourable Court did carry on banking business without a valid license and thereby committed an offence contrary to Section 2/2) of the Banks and Other Financial Institutions Act, Cap B3, Vol.2, Laws of the Federation of Nigeria, 2004”.
- “ That you, Adewale Daniel Jayeoba, Emmanuel Jayeoba And Wales Kingdom Capital Limited whilst being Directors of Wales Kingdom Capital Limited sometime between October 2019 to December 2020 in Lagos within the jurisdiction of this Honourable Court knowingly consented to the carrying on of banking business without a valid license by the Company and thereby committed an offence contrary to section 2/2) and 49(1) of the Banks and Other Financial Institutions Act, Cap B3, Vol.2, Laws of the Federation of Nigeria, 2004”
What happened in court
After they both had taken their plea, the prosecution counsel, Chinenye Okezie prayed the court that they be remanded at the correctional facility and for a trial date.
Counsel to the defendants, Olaniyi George told the court that an application for bail for the defendants is before the court.
He prayed the court to allow his clients to be remanded in EFCC’s custody pending the hearing of the bail application.
The presiding judge , Justice Oweibo adjourned the matter to Wednesday for a hearing of the bail application and ordered the remand of the defendants in the EFCC custody.
Bail application ke…this guy is a thief…..he took our money and disappeared on us in Dec 2020. Over 5m of my money is in his possession and this not include the promised interest.
He came as a business with agreement and fled.
Him and his father should be jailed
He should be jailed including his father, they both took my money in 2020 using their affiliate company A.G.E-Adeprinz Global Enterprises of ADEBOYE ADEYINKA AYODEJI. A repayment plan should be required of them. Heartless pple stealing