Lagos Socialite, Princess Toyin Kolade Debunks $32m Fraud Allegation, Blames Detractors

Seasoned businesswoman and Iyalaje Oodua, Princess Toyin Kolade, has distanced herself from the ongoing $32million fraud case before the Federal High Court in Lagos, claiming she has been exonerated in the past by the Special Fraud Unit, SFU of the Nigeria Police over the years.

The Court has summoned a lawyer, Barr. Olapade Awowole to show cause why he should not be sanctioned for failing to present Princess Kolade, who was listed as a defendant on the ongoing case, since he (lawyer) allegedly undertook to produce her in court.

Justice Peter Lifu had ordered Awowole to appear on Tuesday, November 9, following Kolade’s failure to honour a hearing notice for her arraignment last Thursday on an alleged $32 million fraud charge.

The lawyer was also absent when the matter, marked: FHC/L/407C/2019 was called.

But in a statement Monday, Princess Kolade, who is the Chairperson and CEO of Fisolak Global Resource, said she has never been a fraudulent nor dubious person but a genuine clearing agent who only worked for the accused and got paid.

“I have never been a fraudulent nor dubious person and those who know me well can attest to the fact. I have been audited and exonerated by the Police Special Fraud Unit. After thorough investigation, the SFU found out that the issue had nothing to do with me. They wrote to me and my company in person and pleaded,” Kolade said.

She added; “The case ended more than five years ago. It was recently revisited and it was surprising that they are still attaching me and my company to the legal process which should originally not be so.

“I am just a clearing agent who only worked for the accused and got paid. I keep records and I have the documents still intact till date for records purpose. So the unnecessary clamor by my detractors to exploit this avenue to make disparaging comments and unfound assertions about me is uncalled for.

“The recent story in circulation is being syndicated by an individual with questionable character who feels intimidated by my numerous achievements ever since I was conferred with the title as Iyalaje Oodua by the Ooni Of Ife.”

The top society lady is one of 11 people facing a 10-count charge of $32million fraud preferred against them by the Office of the Attorney-General of the Federation (OAGF).

The other defendants include four Indians –Prem Garg, Devashish Garg, Bhagwan Simgh Rawat and Mukul Tyagi and two Britons – Marcus Wade and Andrew Fairie, said to be at large.

But setting the records straight, the Iyalaje Oodua averred that she was indeed contacted by those listed foreign national to clear some goods for them which she did and got paid for the services her company rendered. 

It was gathered that the Indian nationals, who supposedly got loans from the bank, at no point involved Princess Toyin in their dealings and whatever transpired between them and the bank is not in anyway her concern.

“As we speak, the Indians had forfeited their properties and other valuables which the bank sold to recover their debt while they have also left the country,” Princess Kolade said.

She claimed that the mischievous report flying about town was just concocted based on the unavoidable absence of her lawyer, Barr. Awowole, who couldn’t make it to the court on Thursday, 4 November.

Her words; “The more they throw their punches it won’t still get to me. I know the person behind it and I pray the person heal very fast so to know that who God has blessed, no man can curse.

“I am a moving train and I am not intimidated nor perturbed by the lingering rumors. They are all lies from the pit of hell. I am not a fraudster. I work hard for my money. I have instructed my lawyer to take a legal action against those responsible for the inclusion of my name in this issue when the court finally exonerate me.”

However, the legal counsel, Barrister Awowole had reiterated his determination to attend the court proceeding Tuesday 9 November to get his client’s name off the mess.