Dubai, UAE — (ARAB NEWSWIRE) — Justice Ibrahim Ahmad Kala of the Federal High Court in Lagos has adjourned the arraignment of the Managing Director and Chief Executive Officer of Loft & Keys Ltd and Loft & Keys LLC, Dubai, Austin Albert, and his associate, Jinadu Musbau Olalekan, to October 5, 2026, over allegations of forgery, money laundering, unlawful transfer of funds, and an alleged N460.75 million fraud.
The case, which first came before the court on June 7, was previously fixed for arraignment on July 23. However, proceedings could not continue because Albert was absent from court.
Defence counsel, Abdulhakeem Adio, informed the court that the amended charge had only recently been served on him and explained that Albert was outside Nigeria. At the latest hearing, Adio stated that his client was undergoing major surgery in Dubai and apologised for his absence. He also disclosed that efforts were underway to resolve the dispute through an out-of-court settlement.
Prosecution counsel, G. T. Nev, representing the Force Headquarters, Abuja, argued that no medical report had been provided to support the claim that Albert was undergoing surgery. He also told the court that the prosecution had no knowledge of any settlement discussions.
After hearing both parties, Justice Kala adjourned the matter until October 5, 2026, for the defendants’ arraignment.
The prosecution also informed the court that it had filed an amended five-count charge on July 13, 2026, pursuant to Section 216 of the Administration of Criminal Justice Act (ACJA), 2015. Although the defence initially objected to the amended charge, the objection was later withdrawn following the court’s intervention.
The amended charge, marked FHC/LAG/CR/388/2026, was filed by the Inspector General of Police and accuses the defendants of money laundering, forgery, unlawful transfer of funds, and intimidation.
According to the charge, Albert and Olalekan allegedly conspired on March 6, 2026, to fraudulently transfer N460,750,000 belonging to Premiere Immigration and Advisory Limited from the company’s Globus Bank account into the account of New Power Energy and Logistics Services without the consent or authority of the company’s founder and Chief Executive Officer, who is also a signatory to the account.
The prosecution further alleged that the defendants forged the CEO’s signature to create a bank mandate that facilitated the transfer of the funds.
Albert is also accused of threatening the complainant in February 2026 in an attempt to compel her to surrender either 10 per cent of her 50 per cent shareholding or her entire interest in Premiere Immigration and Advisory Limited. He allegedly contacted the complainant’s friends and business associates, urging them to pressure her into relinquishing control of the company.
The prosecution maintains that the alleged offences contravene provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, the Miscellaneous Offences Act, and the Criminal Code Act.
Source: Dotmount Communications