A Federal High Court sitting in Abuja has adjourned the trial of Ovaioza Yunusa who was alleged to be involved in a scam of N2bn to July 12, 2023.

The presiding Judge, Justice Gladys Olotu adjourned the case because the defense parties failed to appear before the court when the matter came up Tuesday.

The Federal Government had sued Ovaioza and her company, Ovaioza Farm Produce Storage Business (OFPSB) on charges bordering on Advanced Fee Fraud.

Ovaioza along with Imu Yunusa and Goodness Omeiza were alleged to be operating as fund managers without reg­istration by the Securities and Exchange Commission (SEC) among others.

The SEC had in March 2022 sealed up the 27 Abeokuta Street, Garki Abuja office of the compa­ny on suspicions of illegally col­lecting money from the investing public to the tune of N2bn while not registered with the Commis­sion.

In the five count charge brought against the company and its promoters by the Feder­al Republic of Nigeria, they were alleged to have on or between the year 2020 and 2022 within the ju­risdiction of the honourable court did commit a felony to wit: with common intent conspired among themselves together with their staff to do an illegal act.

They were alleged to lure and offer for subscription an unregistered collective invest­ment scheme valued over N2bn to the unsuspecting general public including Umejiaku Chi­kodili Crystal, Omolabake Ale, Dr. Obi Sandra P., Nnaemeka Franklin Ugwoke, Fonon Ismai­la Malum, Kelechi Anayo, Nkiru Onyima, and others.

The charge reads, “That you Imu Yunusa, Good­ness Omeiza and Ovaioza Farm Produce Storage Business; all of house No. 27 Abeokuta Street, Area 8 Garki, on or between the year 2020 and 2022 within the jurisdiction of this honourable court did commit a felony to wit: lured and offered for subscrip­tion an unregistered collective investment scheme valued over N2 billion to the unsuspecting general public including Ume­jiaku Chikodili Crystal, Omola­bake Ale, Dr. Obi Sandra P., Nnae­meka Franklin Ugwoke, Fonon Ismaila Malum, Kelechi Anayo, Nkiru Onyima, and others. You thereby committed an offence contrary to and punishable un­der Section 54 of the Investments and Securities Act, 2007.

“That you Imu Yunusa, Good­ness Omeiza and Ovaioza Farm Produce Storage Business; all of house No. 27 Abeokuta Street, Area 8 Garki, on or between the year 2020 and 2022 within the jurisdiction of this honourable court did commit a felony to wit: conspiracy of forming a com­mon intention amongst your­selves together with your staff to do an illegal act – diversion of investment funds valued over N2 billion belonging to the investing public including, Umejiaku Chi­kodili Crystal, Omolabake Ale, Dr. Obi Sandra P., Nnaemeka Franklin Ugwoke, Fonon Ismai­la Malum, Kelechi Anayo, Nkiru Onyima, and others. You thereby committed an offence contrary to and punishable under Section 516 of the Criminal Code Act, laws of the Federation of Nige­ria, 2004.