Lagos, Nigeria – A $20 million fraud trial involving businessman Michael Abiodun Ponle and his firm, Origin Oil and Gas Limited, has been put on hold following the death of the primary complainant.
The Lagos State High Court in Ikeja adjourned proceedings on Wednesday to allow for potential family-led mediation.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Ponle and his company on a three-count charge including conspiracy, forgery, and obtaining by false pretences.
The allegations stem from a 2012 transaction where the defendants purportedly defrauded Union Bank of Nigeria using a forged legal mortgage document for a luxury property in Banana Island, Ikoyi.
During the resumed hearing, EFCC counsel, Mr Owede, expressed readiness for the formal arraignment.
MICHAEL ABIODUN PONLE
However, the defence team, led by Victor Okpara, SAN, and Olalekan Ojo, SAN, raised procedural and humanitarian grounds for a delay.
Specifically, Mr Okpara argued that the prosecution had failed to comply with the Administration of Criminal Justice Act (ACJA) regarding the service of processes on the corporate entity.
More significantly, Olalekan Ojo informed the court that Ponle’s father — the key complainant in the case, passed away on December 14, 2025.
Given the familial nature of the dispute, Ojo urged the court to grant an adjournment to facilitate an amicable resolution through alternative dispute resolution (ADR) channels.
Justice Ismail Ijelu noted the defence’s application for settlement and the lack of opposition from the EFCC.
Consequently, the court adjourned the matter to April 13, 2026, for a report on the settlement progress or the continuation of criminal proceedings.
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