$20 Million Fraud: Court Fixes April 13 For Arraignment Of Lagos Business Man
OpenLife Nigeria reports that a Lagos State High Court sitting at Ikeja today Wednesday adjourned the arraignment of a Lagos business man Michael Abiodun Ponle and his company Origin Oil and Gas Limited on three-count charges of fraud, forgery, and possession of false documents till April 13, 2026.
The Economic and Financial Crimes Commission (EFCC), through its counsel, informed the court that there is a pending three count charge before the court,and same should be read for the defendants to take their plea.
Olalekan Ojo, SAN, appeared for Michael Abiodun Ponle, the first defendant, while Victor Okpara, SAN, represented Origin Oil and Gas Limited, the second defendant.
Okpara ask for an adjournment, on the ground that the EFCC failed to comply with Section 252(6) of the Administration of Criminal Justice Act (ACJA), which requires serving corporate entities with a charge three days before arraignment
He also pleaded for more time for mediation before the next date.
Ojo SAN aligned with the request, noting that the nominal complainant, the father of Biodun Ponle died on December 14, 2025.The father had alleged that his first son Micheal Abiodun forged his signature
He expressed belief that the family could resolve the matter amicably through.
The EFCC prosecutor did not oppose the request.
In a three count charge filed before the court
- MICHEAL ABIODUN PONNLE
2.ORIGIN Oil AND GAS LIMITED
are charged with the following offences:
Obtaining money by false pretense contrary to Section 1[3] of the Advance Fee Fraud and Other Fraud Related Offences Act 2006
MICHEAL ABIODUN PONNLE and ORIGIN OIL AND GAS LIMITED sometimes in 2012 at Lagos, with intent to defraud , induced a commercial bank to grant $20,000,000 0 [Twenty Million United States of American Dollars] credit facility to Origin Oll and Gas Limited under the representation to the Bank that the document tilled “LEGAL MORTGAGE OF ACCOUNT OF A THIRD PARTY BETWEEN MICCOM CABLES & WIRES LTD and the Bank was genuine and forms part of the security for the facility, which representation he knew or ought to have known is false,
Possession of document containing false pretense contrary to Sections 6 and J {3} of the Advance Fee Fraud and Other Fraud Related Offences Act, No.14 of 2006.
MICHEAL ABIODUN PONNLE and
ORIGIN OIL AND GAS LIMITED sometime in 2012 at Lagos within the jurisdiction of the Court with intent to defraud had in his possession document tiled “LEGAL MORTGAGE TO SECURE ACCOUNT OF A THIRD PARTY with MICCOM CABLES & WIRES LTD and which document you knew or ought to have known contained false pretense.
Forgery contrary to Section 365 [h] of the Criminal Law of Lagos State 2015.
MICHEAL ABIODUN PONNLE and ORIGIN OIL AND GAS LIMITED sometime. in 2012.at Lagos with intent to obtain money forged a document titted “LEGAL MORTGAGE TO SECURE ACCOUNT OF A THIRD PARTY MICCOM CABLES & WIRE AND CABLE dated 18th September, 2012 In respect.of the property located at Plot 19, Zone “E”, Federal Government Layout, Banana Island Foreshore Estate. Ikoyi Lagos purporting same to be genuine
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