Justice Musa Kakaki of the Federal High Court, Lagos, has struck out a fraud case filed by the Police Special Fraud Unit (PSFU) against a businessman, Afolabi Islamiu Olayinka, and his company, Bowofab Global Services Limited.
The court’s decision followed a settlement agreement reached between the businessman and the complainants in the matter.
It would be recalled that the PSFU, through its prosecutor, Barrister Chukwu Agwu, had in 2022 charged Olayinka and his firm with conspiracy, intent to defraud, and obtaining ₦58.527 million under false pretence.
The defendants had pleaded not guilty to the four-count charge and consistently maintained their innocence throughout the trial.
At the resumed hearing on Thursday, the prosecutor informed the court that the parties had reached an amicable settlement and consequently urged the court to strike out the case.
Counsel to the defendants, Barrister J.A. Sanusi, aligned with the prosecution’s position and also prayed the court to dismiss the charges.
In his ruling, Justice Kakaki accepted the parties’ submissions and accordingly struck out the charges, discharging Olayinka and his company of all the offences.
