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🇳🇬 Nigeria /Crime & Justice

Forgery, Money Laundering Charges: Court Reschedules CEO’s Arraignment to Oct. 5

From ThisDay · () English

Summarized and contextualized by DistantNews.

At a glance

News Sources not specified In the courts
  • Two individuals, Austin Albert and Jinadu Musbau Olalekan, face charges including forgery and money laundering related to an alleged N460.75 million fraud.
  • Their arraignment was postponed to October 5, 2026, due to the first defendant's absence for surgery and ongoing settlement discussions.
  • The case involves allegations of unlawfully transferring funds from a company account without authorization.

Austin Albert, the Managing Director of Loft & Keys Ltd and Loft & Keys LLC, Dubai, and his associate Jinadu Musbau Olalekan, are set to be arraigned on charges of forgery, money laundering, and fraud totaling N460.75 million. The Federal High Court in Lagos has rescheduled their arraignment to October 5, 2026.

the amended charge had only just been served on him and that Albert was outside Nigeria.

— Abdulhakeem AdioDefense counsel explaining the absence of the first defendant.

The initial arraignment date was July 23, but it was postponed because Albert was absent. His defense counsel explained that Albert was undergoing major surgery in Dubai and that settlement efforts were underway. However, the prosecution noted the absence of a medical report to support the surgery claim and stated they were unaware of any settlement discussions.

his client was undergoing major surgery in Dubai and apologised on his behalf.

— Abdulhakeem AdioDefense counsel explaining the defendant's absence.

The amended five-count charge, filed by the Inspector General of Police, alleges that Albert and Olalekan conspired to fraudulently transfer N460,750,000 from Premiere Immigration and Advisory Limited's Globus Bank account to another company's account without proper authorization. The prosecution also alleged intimidation as part of the charges.

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.

— Prosecution counselProsecution's response to the defense's explanation for absence.
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Originally published by ThisDay. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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