A young pastor from the Federal University of Agriculture in Abeokuta, Ogun State, Ademola Jayeoba, and his father, Emmanuel Jayeoba, have been arraigned by the Economic and Financial Crimes Commission in the High Court Federal District of Ikoyi, Lagos State.
Ademola and Emmanuel were brought before Judge Nicholas Oweibo on two counts related to illegal banking activities.
The charges read: “That you, Wales Kingdom Capital Limited, between October 2019 and December 2020 in Lagos, within the jurisdiction of this Honorable Court, carried on banking business without a valid licence….
“That you, Adewale Daniel Jayeoba, Emmanuel Jayeoba and Wales Kingdom Capital Limited, while being directors of Wales Kingdom Capital Limited between October 2019 and December 2020 in Lagos, have knowingly consented to the carrying on of banking business without a valid license by the society .”
They pleaded not guilty to the charges.
The prosecutor, Chinenye Okezie, asked the court for a trial date and their remand in a correctional facility.
However, the defendants’ lawyer, Olaniyi George, informed the court of a bail request and prayed that his clients would be taken into the custody of the EFCC.
Judge Oweibo adjourned the case to hear the bail application and returned the defendants to EFCC custody.