Justice Musa Kakaki of the Federal High Court, in Lagos, has struck out fraud charges filed by the Police Special Fraud Unit against a businessman, Afolabi Olayinka, and his company, Bowofab Global Services Limited, following an amicable settlement between the parties.
The charges, which were instituted in 2022 by PSFU prosecution counsel, Chukwu Agwu, accused Olayinka and his company of conspiracy, intent to defraud, and obtaining N58.527m, under false pretence.
The defendants pleaded not guilty upon arraignment and consistently maintained their innocence throughout the trial.
At the resumed hearing on Wednesday, the prosecutor informed the court that the dispute had been resolved by the parties and urged the court to strike out the case.
Counsel to the defendants, J.A. Sanusi, aligned with the submission and also urged the court to dismiss the charges.
In his ruling, Justice Kakaki noted the submissions of both counsel and consequently struck out the case, discharging Olayinka and Bowofab Global Services Limited of all the allegations.
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