Judgment Day Set for N1.7bn Fraud Case Against First Nation Airways CEO

In a legal battle that has spanned years and sent ripples throughout Nigeria’s aviation industry, the highly anticipated judgment day for the N1.7 billion fraud case involving Kayode Odukoya, Managing Director and Chief Executive Officer of First Nation Airways Limited, is now on the horizon.

Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, has scheduled December 1, 2023, as the date when the fate of Odukoya and his airline companies will be decided.

The charges against them include forgery, use of false documents, perjury, stealing, and obtaining credit by fraud.

The case revolves around allegations of fraudulent activities dating back to 2013 when Odukoya and First Nation Airways obtained a substantial credit from Skye Bank (now Polaris Bank) based on what is claimed to be falsified documents regarding a property in Lagos.

Furthermore, the prosecution accuses Odukoya and his companies of converting nearly N1.7 billion of Skye Bank’s funds to their own use in 2016.

Odukoya has maintained his innocence throughout the trial, pleading “not guilty” to the charges.

The proceedings have seen a dramatic twist when the defendant’s no-case submission was dismissed by the judge in January 2022, forcing Odukoya to defend himself. The verdict now awaits a decision from the judge.

This impending judgment holds significant implications for Odukoya, the airline industry, and the broader business community, as it marks a pivotal moment in Nigeria’s ongoing fight against financial impropriety.

The aviation executive’s future, along with the reputation of his companies, hangs in the balance as the legal saga inches closer to its conclusion.