Segun Atanda/
A Lagos State High Court sitting in Ikeja has adjourned the arraignment of a Lagos businessman, Michael Abiodun Ponle, and his company, Origin Oil and Gas Limited, over an alleged $20 million fraud to April 13, 2026.
The defendants are facing a three-count charge bordering on obtaining money by false pretence, possession of false documents, and forgery, filed by the Economic and Financial Crimes Commission (EFCC).
At Wednesday’s proceedings, EFCC counsel informed the court that the charge was ready and should be read for the defendants to take their plea.
However, counsel to the defendants sought an adjournment. Olalekan Ojo, SAN, appeared for Ponle (the first defendant), while Victor Okpara, SAN, represented Origin Oil and Gas Limited (the second defendant).
Okpara urged the court to grant more time, arguing that the EFCC failed to comply with Section 252(6) of the Administration of Criminal Justice Act (ACJA), which requires that corporate entities must be served with the charge at least three days before arraignment.
He also appealed for additional time to explore mediation before the next adjourned date.
Ojo, SAN, aligned with the request, adding that the nominal complainant, who is Ponle’s father, reportedly died on December 14, 2025, after alleging that his first son, Michael Abiodun Ponle, forged his signature.
The senior lawyer expressed optimism that the family could still resolve the dispute amicably.
The EFCC prosecutor did not oppose the application, and the court consequently adjourned the matter to April 13, 2026, for arraignment.
According to the charge, Ponle and Origin Oil and Gas Limited were accused of allegedly inducing a commercial bank in 2012 to grant a $20,000,000 credit facility to the company by presenting a document titled “Legal Mortgage to Secure Account of a Third Party…” as part of the security for the facility.
They were also accused of allegedly being in possession of the said document, knowing or having reason to know that it contained false pretence.
In addition, the defendants were accused of allegedly forging a document titled “Legal Mortgage to Secure Account of a Third Party…” dated September 18, 2012, in respect of a property located at Plot 19, Zone E, Federal Government Layout, Banana Island Foreshore Estate, Ikoyi, Lagos.
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