Justice Olubunmi Abike-Fadipe of the Special Offences Court in Ikeja, Lagos, has dismissed the no-case submission filed by Dr. John Abebe and his company, Inducon Nigeria Limited, in an ongoing trial over an alleged N120 million fraud.
The defendants are facing a six-count charge bordering on conspiracy to steal, stealing, conspiracy to obtain money by false pretence, obtaining by false pretence, and obtaining execution of security by false pretence.
Dr. Abebe and his co-defendant, Kamoru Alade Oladimeji, were first arraigned on September 19, 2022. They pleaded not guilty to the charges, prompting the commencement of a full trial.
According to the prosecution, the defendants allegedly conspired on June 4, 2013, in Lagos to steal N120 million belonging to Arsenal Technologies Limited. The prosecution further alleged that the money was obtained under the false representation that a property located at 9 Magbon Close, Ikoyi, Lagos, pledged as collateral for the transaction, was free of any encumbrances.
However, investigators claimed that the same property had already been pledged to a bank as security before it was presented to the complainant.
During the trial, the prosecution presented four witnesses before closing its case on May 15, 2025.
Following the close of the prosecution’s case, the first and third defendants filed a no-case submission on October 14, 2025, arguing that the prosecution had failed to establish a prima facie case linking them to the alleged offences.
In her ruling on Thursday, Justice Abike-Fadipe held that at the stage of considering a no-case submission, the court only determines whether the prosecution has presented legally admissible evidence linking the defendants to the charges, not whether the evidence is sufficient to secure a conviction.
The judge noted that the evidence presented suggested that the defendants allegedly obtained about N120 million from the complainant after pledging a property that had already been used as collateral with a bank.
She added that the evidence, if believed, required the defendants to provide an explanation.
Consequently, the court dismissed the no-case submission and ordered the defendants to open their defence.
The case was adjourned to May 28 and June 3, 4, 24, and 25, 2026, for the defence to present its case.
