The Enugu Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned Barrister Ifeanyichukwu Okonkwo before Justice E. N. Oluedo of the Enugu State High Court over allegations of fraud involving the misappropriation of N41 million.
According to the EFCC, Okonkwo faces a one-count charge of stealing by conversion, a serious offence that violates Section 342 of CAP 30 of the Criminal Code Law of Enugu State and is punishable under Section 353(L) of the same law. The charge states that on November 23, 2015, in Enugu, Okonkwo fraudulently converted N41 million entrusted to him by Onyishi Maduka Samuel on behalf of the family of the late Ifemelunma Okoye. The funds were allegedly meant for liquidation proceedings in his role as the liquidator of Ifemelunma and Company Enterprises Limited.
When the charge was read in court, Okonkwo pleaded “not guilty.” The prosecution counsel, Ajobiewe Rotimi Enitan, requested a trial date and urged the court to remand the defendant in a correctional facility until the proceedings commenced. However, Okonkwo, who chose to represent himself, appealed to the court to allow him to continue on the bail previously granted by Justice H. O. Eya in an earlier stage of the case.
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After reviewing the submissions from both sides, Justice Oluedo granted Okonkwo’s request to remain on bail and set the trial dates for May 13, 14, and 15, 2025. The legal battle is expected to intensify as the court examines the evidence and testimonies surrounding the high-profile financial misconduct case.
This is not the first time Okonkwo has faced these allegations. He was previously arraigned before Justice Eya on June 23, 2022, where he also pleaded “not guilty” and was granted bail. With the trial now set to proceed, all eyes will be on the courtroom as the EFCC seeks to prove its case against the embattled lawyer.
