Banjo also expressed surprise at their absence despite proof of service, insisting that the defendants were aware of the proceedings.
The arraignment of United Bank for Africa (UBA) Plc and four others over an alleged N4.29 billion foreign exchange fraud before Justice Rahman Oshodi of the Lagos State Special Offences Court sitting in Ikeja was, on Wednesday, June 3, 2026, stalled due to the absence of the defendants in court.
UBA, alongside Muyiwa Akinyemi, Amangbo Eziashi Stephen, Geeos Global Service Limited, and Fedat Global Limited, was to be arraigned by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, on a four-count charge bordering on foreign exchange infractions, concealment of proceeds of unlawful activities, retention of criminal proceeds, and money laundering involving N4.29 billion.
One of the counts reads: "That you, United Bank for Africa Plc, Muyiwa Akinyemi, Amangbo Eziashi Stephen, Geeos Global Service Limited and Fedat Global Limited, between 14th September, 2022 through 20th March, 2023 at Lagos, within the jurisdiction of this Honourable Court, conspired to sell Forex above the rates stipulated by the Central Bank of Nigeria and thereby committed an offence."
