Justice Rahman Oshodi of the Special Offences Court, Ikeja, has granted bail in the sum of ₦50 million to a businessman, Friday Audu, who is standing trial alongside a company, Genting International Ltd, over allegations of forgery, impersonation, and fraudulent misrepresentation.
The judge handed down the ruling on Tuesday, following Audu’s re-arraignment by the Economic and Financial Crimes Commission (EFCC) on May 17, 2025.
Audu and the corporate entity were brought before the court on an amended eight-count charge marked ID/25617C/25.
The EFCC accused Audu of forging an Ultimate Beneficial Ownership Declaration Form, which he allegedly signed using the identity of a Bureau de Change operator, Mr Baffale Yakubu.
He is also said to have impersonated Yakubu and another individual, Mr Nasiru Mohammed Barau, in multiple official documents, including filings with the Corporate Affairs Commission (CAC) and bank account registration forms.
In granting bail, Justice Oshodi imposed stringent conditions. The defendant, the court said, must produce two sureties in like sum who are gainfully employed, possess verifiable sources of income, and show evidence of three years of tax payments to the Lagos State Government (LASG).
Justice Oshodi held that each surety must also maintain a bank account with a balance of at least ₦50 million and submit an affidavit of means.
Audu was further ordered to deposit his international passport with the court.
The EFCC was directed to notify the Nigerian Immigration Service within 48 hours of the bail order to prevent the defendant from leaving the country.
The court’s Chief Registrar was tasked with verifying full compliance with all bail conditions before Audu’s release.
After the bail ruling, counsel for the EFCC, Mrs Bilkisu Buhari-Bala, called its fourth prosecution witness, Mr Baffale Yakubu, who detailed how he became entangled in the matter without fully understanding its implications.
Yakubu told the court that he met the defendant through a Chinese national named Kenny in June 2024.
Yakubu stated that Kenny had expressed interest in acquiring a lottery licence in Nigeria but needed help registering a company with the CAC.
The witness stated that Kenny had asked him to act as a nominee director to facilitate the process.
Kenny being abroad, the witness said he complied by submitting his personal information, including his signature, international passport, email address, and office location for the company registration.
At Kenny’s request, he also recommended his brother, Nasiru Mohammed Barau, as the second director and forwarded his details.
“In July 2024, I met Friday Audu for the first time during a meeting with Kenny. They requested additional information from me, my BVN, NIN, email, and bank account details, saying it was necessary to obtain a SCUML certificate.”
Yakubu stated that shortly afterwards, he was informed that his background as a bureau de change operator disqualified him from being a director of a company applying for a lottery licence.
He said he then formally requested that both his and his brother’s names be removed from Genting International Ltd’s records.
However, in December 2024, Audu allegedly contacted him again, this time to inform him that the EFCC had commenced an investigation into the company.
Yakubu stated that Audu advised him to maintain that he was a passive director and to provide details of a Union Bank account if questioned.
Yakubu said he was later invited by the EFCC in January 2025 for questioning.
It was during this interrogation, he said, that he discovered a bank customer information form linking him to a Union Bank account supposedly operated by Genting International Ltd.
“I told the EFCC that I had never seen the documents before. My signature was forged.
“The customer information form had wrong details, including my mother’s name and local government area.”
Under cross-examination by lead defence counsel, Mr Kunle Adegoke (SAN), Yakubu admitted that he voluntarily submitted his personal information to aid the company’s formation.
However, he firmly denied consenting to the opening of any bank account or serving as company secretary.
He also disowned documents that tied him to the disputed account and reiterated that he had never seen them until they were presented to him by EFCC operatives.
Yakubu’s account was consistent with earlier testimony from the EFCC’s third witness, Mr Chidubem Ogbuka, a Regulatory Compliance Officer with Union Bank.
Ogbuka had submitted documents to the court linking Yakubu to the disputed account allegedly operated by Genting International Ltd.
The second individual allegedly impersonated by Audu, Nasiru Mohammed Barau, also took the witness stand.
Barau told the court that he had no prior knowledge of Genting International Ltd until he was contacted by the EFCC.
Despite CAC documents listing him as a shareholder holding 12 million shares, Barau denied having any involvement with the company.
He also disowned an email address used for company filings that was linked to his name.
“I was never informed of any company registration. I never gave anyone consent to list me as a director or shareholder,” Barau said.
Justice Oshodi adjourned the matter to September 28, 29, and October 2, 2025, for the continuation of the trial.
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