Nigeria, June 4 -- The planned arraignment of United Bank for Africa (UBA) Plc and four others over an alleged N4.29 billion foreign exchange fraud was again stalled on Wednesday at the Lagos State Special Offences Court in Ikeja after none of the defendants appeared in court.

It was the second time the defendants would not be in court for the commencement of their trial. When the charge was first brought before the court in April 2025, the matter also failed to proceed as scheduled amid disputes over service and the absence of all parties in the dock.

The Economic and Financial Crimes Commission (EFCC) is prosecuting the case before Judge Rahman Oshodi on four counts of forex racketeering, conspiracy, concealment of proceeds of unlawfu...