A Special Offences Court in Ikeja, Lagos, has dismissed a no-case submission filed by John Abebe and his company, Inducon Nigeria Limited, in an alleged ₦120 million fraud case.
Justice Olubunmi Abike-Fadipe delivered the ruling on March 5, 2026.
Abebe and co-defendant Kamoru Alade Oladimeji were arraigned in September 2022 on a six-count charge.
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The charges include conspiracy to steal, stealing, obtaining by false pretence and conspiracy to obtain by false pretence involving ₦120 million.
Prosecutors alleged that the defendants obtained the money from Arsenal Technologies Limited in 2013.
According to the prosecution, the defendants pledged property in Ikoyi as collateral while claiming it was free of encumbrances.
Investigators later alleged that the same property had already been pledged to a bank.
After the prosecution closed its case in May 2025, the defendants filed a no-case submission in October 2025.
They argued that the prosecution failed to establish a prima facie case linking them to the alleged offences.
However, Justice Fadipe ruled that the prosecution had presented admissible evidence requiring an explanation from the defendants.
The judge therefore dismissed the application and ordered the defendants to open their defence.
The court adjourned the case to May 28 and June 3, 4, 24 and 25, 2026 for the continuation of the trial.
