A Youth Pastor at the Federal University of Agriculture, Abeokuta, FUNAAB, Adewale Jayeoba, popularly known as ‘Wales’and his father, Emmanuel Jayeoba, have been arraigned by the EFCC before a Federal High Court in Ikoyi, Lagos State.
Mr. Jayeoba and his father were arraigned before Justice I. Nicholas Oweibo on Monday, 1st August, 2022, on a two count charge bordering on illegal banking activities.
One of the counts read; “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”, the second count reads.
In view of their pleas, which they pleaded not guilty to the offences, the prosecution counsel, Chinenye Okezie asked the court for a trial date and their remand in a correctional facility.
Justice Oweibo adjourned the case to Wednesday, 3rd August, 2022 for hearing of the bail application and ordered the remand of the defendants in the EFCC custody.
Story: Asma’u Sani