Lagos bizwoman, Ajanaku Oluwatomilola, jailed over N14.5m scam
Justice O. A. Okunuga of the Lagos State High Court, sitting in Ikeja has convicted one Ajanaku Oluwatomilola to three years’ imprisonment for her involvement in a ₦14.5 million fraud.
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, had re-arraigned Oluwatomilola on April 14, 2024, on a six-count charge bordering on stealing, obtaining money and property under false pretences, and unlawful retention of funds.
According to court documents, the defendant received ₦14.5 million in 2021 from a group of petitioners who invested with her company on the agreement that they would receive returns for a period of three months.
However, she allegedly defaulted after just two months.
Further investigation revealed that Oluwatomilola was not licensed to operate in the capital market or solicit public investments.
One of the charges reads: “That you, Ajanaku Oluwatomilola, trading under the name and style of Yenniegoldie Signature, sometime in 2021 in Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, stole and dishonestly converted to your own, the sum of N5,000,000 (Five Million Naira), property of one Truetalk Telecom Services, thereby committed an offence of stealing, contrary to Section 280 and punishable under Section 287 of the Criminal Law of Lagos State, 2015.”
The defendant pleaded “not guilty”, prompting a full trial.
During proceedings, EFCC counsel F. Ofoma called four witnesses, including EFCC investigator Christopher Ameh and several petitioners.
In his plea for leniency, defence counsel O. Ajanaku urged the court to consider that:
“The convict is a first-time offender and he is remorseful.”
He also assured the court that restitution would be made to the victims.
In her judgment, Justice Okunuga found Oluwatomilola guilty on three counts of stealing and sentenced her to one year imprisonment for each count. She was, however, acquitted of the charges of obtaining money and property by false pretence, and unlawful retention.
The court also ordered the convict to pay restitution totaling ₦6,000,000 to the affected petitioners.
