The Attorney-General of the Federation (AGF) has taken over the prosecution of the N460.75 million fraud case involving Austin Ugochukwu Albert and Jinadu Musbau Olalekan before the Federal High Court in Ikoyi, Lagos, as Albert’s continued absence from court again stalled proceedings.
The case, marked FHC/LAG/CR/388/2026, came up before Justice I. A. Kala on Monday, where a legal officer from the Office of the Attorney-General of the Federation and Minister of Justice announced the takeover pursuant to the powers of the AGF under Section 174 of the 1999 Constitution, as amended.
The prosecution, which had previously been handled by the Office of the Inspector-General of Police, did not oppose the takeover but requested time to reconcile its position and transfer the case file to the AGF’s office.
Albert, the Managing Director and Chief Executive Officer of Loft and Keys Ltd and Loft & Keys LLC, Dubai, was again absent from the proceedings. His absence marked the third consecutive time he has failed to appear in court. The court consequently directed the AGF’s legal officer to ensure that Albert is produced at the next hearing, fixed for November 17, 2026.
Albert’s absence has previously affected proceedings. On June 17, the court was informed that he was abroad and had not been served, while on July 23, his counsel said he was undergoing major surgery in Dubai. The prosecution, however, maintained that no medical report or hospital letter had been presented to the court to substantiate the claim.
Albert and Olalekan are facing a five-count charge bordering on alleged criminal conspiracy, forgery, money laundering, criminal diversion of company funds and criminal intimidation. The prosecution alleges that N460.75 million belonging to Premiere Immigration and Advisory Limited was fraudulently transferred from the company’s Globus Bank account to an account belonging to New Power Energy and Logistics Services Ltd through a bank mandate allegedly bearing the forged signature of the company’s Founder and Chief Executive Officer.
Albert is also accused of allegedly threatening and intimidating the company’s Founder in an attempt to take over the company.
The court is expected to consider the effect of the AGF’s takeover on a notice of withdrawal filed by the police at the next hearing. The defendants have not yet taken their pleas in the matter.
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