A businessman, Mr. Ebi Otsaye Ogionwo, has contested a $300,000 fraud accusation against him at the Federal High Court in Lagos, initiated by Mr. Oluwatosin Adefila.
Mr. Ogionwo claims that the complainant misrepresented the circumstances and misled the operatives of the Force Criminal Investigation Department at Alagbon Close, Ikoyi, into filing a charge in what he asserts is a purely civil matter concerning a loan contract that has significantly benefited Adefila.
Ogionwo’s legal team contends that the loan was a business transaction between two corporate entities, executed by him and Adefila as corporate representatives, and not a personal loan taken by Ogionwo in his individual capacity.
In the charge, the police allege that Ogionwo obtained $300,000 from Adefila under false pretences.
Through his lawyers, Ogionwo stated that his business relationship with Adefila dates back to 2007, “with full and satisfactory performance.”
He further claimed that Adefila, acting with malice and intent, failed to disclose the nature of the transaction and dispute in 2022, misleading the police into filing the charge either to embarrass him or because the police overlooked the civil nature of the transaction for dubious reasons.
In an affidavit challenging the charge, Ogionwo’s lawyers declared that in 2018, a similar transaction occurred between the two corporate entities at a 67% interest rate, which was fully repaid. In 2021, another transaction at 24% interest was completed, with both principal and interest “fully repaid,” according to the affidavit.
However, the loan of $300,000 in 2022 has not been fully repaid due to the non-performance of a third-party contractor associated with the corporate entity represented by Ogionwo.
Ogionwo’s lawyers stated that the complainant was aware of this third-party non-performance and the significant losses incurred in the transaction, in which the $300,000 was merely a fraction. Despite this, Adefila pressured Ogionwo for payment.
The affidavit indicated that, despite the challenges, the borrowing entity has already paid Adefila $70,412.
It also highlighted that “the petition Adefila submitted to the Force Criminal Investigation Department was initially directed to the Economic and Financial Crimes Commission (EFCC), but Adefila’s lawyers were advised that this constituted a civil and commercial dispute that should be resolved through civil action.”
Ogionwo’s lawyers are seeking N2,000,000,000 (Two Billion Naira) in damages against Adefila for provoking the police to file a baseless and abusive charge aimed at harassing and shaming him, thereby coercing him into financing payments to Adefila in a personal capacity despite Ogionwo’s lack of direct personal liability for the loan.
The presiding judge has urged the lawyers to seek an amicable resolution. In a show of good faith, an additional payment of $45,000 has been made to the complainant, supplementing the previous $70,412 paid before the charge was initiated, with an assurance that the remaining balance will be settled by the end of December 2024.
Ogionwo’s legal team is frustrated by the unprofessional conduct displayed by Mr. Adefila’s lawyers and is no longer willing to tolerate the egregious attacks and defamation aimed at their client.
They believe that Mr. Adefila and his associates must be held accountable for defamation and libel. Consequently, Ogionwo’s lawyers have initiated legal action to restore and safeguard their client’s reputation, seeking N2,000,000,000 (Two Billion Naira) in restitution for the damages inflicted by Adefila.
