Amb. Comr. Adebayo Lion Ogorry, Director of Publicity and Mobilization, the group claimed that a private investigator’s report revealed that under the leadership of Segun Julius Agbaje, GTCO had engaged in unsolicited account openings, declaration of fictitious profits, round-tripping, money laundering, terrorism financing, and the use of customers’ and investors’ funds to pay penalties in the United Kingdom.
Three Senior Advocates of Nigeria (SAN) have joined the defense team for four journalists accused of cyberstalking and defamation against GTCO, the parent company of Guaranty Trust Bank (GTBank), and its Group Chief Executive Officer, Segun Agbaje.
The distinguished advocates, Asiwaju Kunle Kalejaye, SAN, Olalekan Ojo, SAN, and Kunle Adegoke, SAN, were present at the Federal High Court in Ikoyi on Wednesday, accompanied by other legal representatives, including Barristers Olakunle Afolabi and Adebisi Adeniyi, as the trial progresses.
In a ruling on Wednesday, Justice Ayokunle Faji of the Federal High Court denied the bail application for the four defendants in case number FHC/L/774C/2024. Justice Faji’s decision was based on affidavits filed by both the defense counsel and counter affidavits from the prosecution team.
The four journalists have been held at the Ikoyi Correctional Centre since September following their arrests by the police Special Fraud Unit (PSFU) in Ikoyi.
Defense counsel Afolabi argued for bail on liberal terms pending arraignment, asserting that the alleged offenses are bailable.
The police have accused the journalists—Precious Eze, Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami—of conspiracy, cyberstalking, and publishing false allegations against GTCO and Agbaje through their media platforms.
During cross-examination by Olalekan Ojo, SAN, in the ongoing trial-within-trial, police witness Chief Superintendent of Police (CSP) Abu Michael admitted that the video evidence presented does not capture any instance where the defendants waived their rights to legal representation before providing statements.
The defendants maintain they were coerced into giving statements despite informing the police that their lawyers were en route.
Justice Faji has requested evidence in the trial-within-trial to substantiate the police’s claim that the defendants voluntarily provided their statements. CSP Abu also indicated that the video recordings submitted as evidence were for the first and second defendants, while those for the third and fourth defendants were lost due to technical issues.
Abu noted that although the Investigating Police Officer (IPO), ASP Yaqob Sule, conducted the questioning, he monitored the proceedings from a separate room.
On Thursday, the prosecution team, led by Aribisala SAN, called ASP Yaqob Sule as the final witness in the trial-within-trial. Sule testified that the defendants voluntarily wrote their statements while in police custody.
Justice Faji adjourned the case to December 10 and 12, 2024, to allow the new defense counsels to confer with the defendants.
It should be noted that the House of Representatives recently launched an investigation into allegations of corruption, falsification of financial reports, and money laundering against Mr. Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO), and the bank itself.
The investigation followed a petition submitted by Alhaji Yusuf Kabiru, President of the Arewa Consultative Youth Movement, and presented by Hon. Nnamdi Ezechi from Delta State to the lawmakers.
Meanwhile, the House of Representatives Public Accounts Committee reportedly directed Guaranty Trust Holding Company to calculate and remit the Value Added Tax on commissions received from Remita transactions between 2015 and 2022 to the Federal Government.
The committee, chaired by Bamidele Salam, who represents Ede South/Ede North/Ejigbo/Egbedore Federal Constituency in Osun State, issued the directive during an ongoing investigation into alleged revenue leakages through the Remita platform. GTCO’s Executive Director, Mr. Ahmed Liman admitted that the bank had not remitted the VAT for eight years.
Additionally, the Global Integrity Crusade Network (GICN), a non-governmental organization, stormed the National Assembly on October 3, seeking a legislative probe into alleged “corruption, fraud, and financial irregularities” in the bank.
In a statement signed by Amb. Comr. Adebayo Lion Ogorry, Director of Publicity and Mobilization, the group claimed that a private investigator’s report revealed that under the leadership of Segun Julius Agbaje, GTCO had engaged in unsolicited account openings, declaration of fictitious profits, round-tripping, money laundering, terrorism financing, and the use of customers’ and investors’ funds to pay penalties in the United Kingdom.
The journalists currently undergoing trial had brought these issues to public attention in their publications.
