Witness: how ex-director defrauded advert giant of N1.767b


An Economic and Financial Crimes Commission (EFCC) witness, Akinlola Olapade, yesterday told an Igbosere High Court, Lagos, that Mohammed Gobir, a former non-executive director of Outdoor Advertising Company, Afromedia, defrauded the firm of N1.767 billion.
Olapade, Afromedia’s Group Managing Director (GMD), testified yesterday as the first prosecution witness before Justice Raliat Adebiyi that Gobir obtained the money from the firm in various currencies by false pretence.
Kwara State-born Gobir, 55, is accused of fraudulently obtaining $3,500,000 (N696,675,000); N514,457,151.87; $2,102,740 (N418,171,903.80); N123 million and £51,000 (N14,667,898.25) totalling N1.767b.
He is facing a 17-count charge of obtaining money under false pretence, stealing, fraud, use of forged documents, and possession of forged documents preferred against him by the commission.

Witness: how ex-director defrauded advert giant of N1.767b
Led in evidence by Mr. A.B.C. Ozioko, Olopade testified that Gobir was introduced to Afromedia in 2008 through their Private Placement Consultants, Synergy Capital Advisory Limited, as a high net-worth investor willing to inject N1 billion into the company through the acquisition of shares.
Based on the defendant’s touted pedigree, he was made chairman, Business Development Committee (BDC) of Afromedia’s board of directors.
According to the witness, the defendant allegedly used the position to defraud the firm.
“Having earned the trust of the company, Gobir started demanding large sums of money which he termed as fees to international consultants, Royal Exchange Bureau, in the United Kingdom to facilitate and secure investments from a UK-based bank.
“The company gave Gobir  $1,000,000 in cash and paid for his travel expenses on a first class return ticket to UK where he would meet with the purported investors, which investigation revealed never existed nor were the meetings ever held”, the witness told the court.
The defendant, Olopade added, claimed his $250,000,000, £250,00,000 and 250,000,000 Euros was frozen in London, and he needed to defroze it with $3,817,000 through a European Union Money Laundering Waiver Certificate

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