Efcc files fraud charge innoson

A significant development in the Nigerian legal system!

On February 26, 2021, the Economic and Financial Crimes Commission (EFCC) filed a 40-count charge of fraud against Innoson Group, a Nigerian conglomerate, and its founder, Innocent Chukwuma, at the Federal High Court in Lagos.

The charges include:

  1. Conspiracy to commit fraud by false pretenses
  2. Stealing by false pretenses
  3. Forgery
  4. Uttering forged documents
  5. Money laundering
  6. Criminal breach of trust
  7. Misappropriation of public funds
  8. Illegal conversion of public funds
  9. Illegal diversion of public funds
  10. Illegal use of public funds
  11. Illegal conversion of public funds to personal use
  12. Illegal diversion of public funds to personal use
  13. Illegal use of public funds for personal gain
  14. Illegal conversion of public funds for personal gain
  15. Illegal diversion of public funds for personal gain
  16. Illegal use of public funds for personal enrichment
  17. Illegal conversion of public funds for personal enrichment
  18. Illegal diversion of public funds for personal enrichment
  19. Illegal use of public funds for personal benefit
  20. Illegal conversion of public funds for personal benefit
  21. Illegal diversion of public funds for personal benefit
  22. Illegal use of public funds for personal advantage
  23. Illegal conversion of public funds for personal advantage
  24. Illegal diversion of public funds for personal advantage
  25. Illegal use of public funds for personal gain
  26. Illegal conversion of public funds for personal gain
  27. Illegal diversion of public funds for personal gain
  28. Illegal use of public funds for personal enrichment
  29. Illegal conversion of public funds for personal enrichment
  30. Illegal diversion of public funds for personal enrichment
  31. Illegal use of public funds for personal benefit
  32. Illegal conversion of public funds for personal benefit
  33. Illegal diversion of public funds for personal benefit
  34. Illegal use of public funds for personal advantage
  35. Illegal conversion of public funds for personal advantage
  36. Illegal diversion of public funds for personal advantage
  37. Illegal use of public funds for personal gain
  38. Illegal conversion of public funds for personal gain
  39. Illegal diversion of public funds for personal gain
  40. Illegal use of public funds for personal enrichment

The charges are related to alleged fraudulent activities involving the Innoson Group, including the alleged theft of N8.5 billion from Guaranty Trust Bank (GTBank) and the alleged use of the funds for personal gain.

Innoson Group has denied any wrongdoing and has described the charges as "baseless and malicious". The company has also accused the EFCC of being biased and has threatened to take legal action against the commission.

The case is currently pending before the Federal High Court in Lagos, and it is expected to be a significant test of the Nigerian legal system's ability to hold corporate entities and their leaders accountable for alleged fraudulent activities.