Wale Igbintade
Justice Ibrahim Ahmad Kala of the Federal High Court in Lagos has adjourned till October 5, 2026, the arraignment of the Managing Director/Chief Executive Officer of Loft & Keys Ltd and Loft & Keys LLC, Dubai, Austin Albert, and his associate, Jinadu Musbau Olalekan, over allegations of forgery, money laundering, unlawful transfer of funds and an alleged N460.75 million fraud.
The judge had earlier fixed July 23 for their arraignment after the matter first came before the court on June 7.
However, the arraignment could not proceed because the first defendant, Albert, was absent.
Defence counsel, Abdulhakeem Adio, told the court that the amended charge had only just been served on him and that Albert was outside Nigeria.
At the previous sitting, Justice Kala directed the defence counsel to ensure that his client was present in court at the next adjourned date.
When the matter was called on Thursday, prosecution counsel, G. T. Nev, from the Force Headquarters, Abuja, announced his appearance for the prosecution. Abdulhakeem Adio appeared for the two defendants, while Ogechi Abu of the International Federation of Women Lawyers (FIDA), leading three other lawyers, alongside Oluniyi Adeniyi of J-K Gadzama LLP, appeared for the nominal complainant.
The prosecution informed the court that it had filed an amended charge on July 13, 2026, pursuant to Section 216 of the Administration of Criminal Justice Act (ACJA), 2015, and stated that the matter was scheduled for the defendants’ plea.
Although the defence initially objected to the amended charge, the objection was withdrawn after the court’s intervention.
Explaining Albert’s absence, Adio told the court that his client was undergoing major surgery in Dubai and apologised on his behalf.
He also informed the court that efforts were being made to settle the dispute out of court.
In response, the prosecutor argued that no medical report had been presented to substantiate the claim that Albert was undergoing surgery and added that the prosecution was unaware of any settlement discussions.
Following submissions by both parties, Justice Kala adjourned the matter to October 5, 2026, for the arraignment of the defendants.
The Inspector General of Police instituted the five-count amended charge, marked FHC/LAG/CR/388/2026, against the defendants, alleging money laundering, forgery, unlawful transfer of funds and intimidation.
According to the charge, Albert, of 212A Muri Okunola Street, Victoria Island, Lagos, and Olalekan, of 6B Uwadia Close, off Alhaji Karimu Street, Lekki, Lagos, allegedly conspired on March 6, 2026, to fraudulently transfer and convert N460,750,000 belonging to Premiere Immigration and Advisory Limited from the company’s Globus Bank account into the account of New Power Energy and Logistics Services without the consent or authority of the company’s founder and Chief Executive Officer, who is also a signatory to the account.
The prosecution further alleged that the defendants procured, forged and used the CEO’s signature to create a mandate that enabled the transfer of the funds.
Albert was also accused of threatening the CEO in February 2026 in an attempt to compel her to surrender either 10 per cent of her 50 per cent shareholding or her entire interest in Premiere Immigration and Advisory Limited.
He was further alleged to have contacted the complainant’s friends and business associates, urging them to pressure her into relinquishing control of the company or face unspecified consequences.
The prosecution said the alleged offences contravene Section 18(2)(b), punishable under Section 18(3), of the Money Laundering (Prevention and Prohibition) Act, 2022; Section 1(2)(c) of the Miscellaneous Offences Act; and Sections 366(a) and 473(1) of the Criminal Code Act, punishable under Sections 366(f) and 473(2) of the same Act.
