Name: ABOLAJI FASIDA

Name: OLAJI LIMITED

Date of Birth: 25 / 6 / 1966

Date Order Starts: 7 / 2 / 2024

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 07724491

Last Known Address: 2 Rotherwood Close,, , , , DUNSTABLE,, LU6 1UA

Conduct: On 11 June 2020 Abolaji Fasida (Mrs Fasida) caused Olaji Limited (Olaji) to make a Bounce Back Loan (“BBL”) application of £50,000 when she knew or ought to have known that Olaji was not eligible for the loan. Mrs Fasida made a wrongful declaration by overstating Olaji’s turnover, as a result Olaji has received BBL funds of £50,000 that it was not entitled to.?? In that: Under the BBL scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover for the calendar year 2019. The turnover figure was self-certified by the applicant.?? ? Olaji was incorporated on 01 August 2011.? ? On 11 June 2020, Mrs Fasida applied for a BBL of £50,000 on behalf of Olaji declaring that its turnover for the calendar year 2019 was £210,000.? ? On 22 May 2020 Dormant accounts were approved and signed by Mrs Fasida for year ended 31 August 2019.? On 22 November 2022 during an interview with the Official Receiver’s Office, Mrs Fasida stated that the turnover for 2019 was £5,000. Therefore Olaji was not eligible for a BBL of any amount. Mrs Fasida stated that she did not know why she stated the company turnover for 2019 was £210,000 on the BBL application form.?? Olaji received the BBL funds of £50,000 on 12 June 2020.?? Mrs Fasida caused Olaji to expend the £50,000 BBL funds for purposes that did not provide economic benefit to Olaji.?? Total liabilities at liquidation amount to £50,393 of which £50,000 relates to the amount owed in respect of the BBL. 

This information is correct as at 17 / 1 / 2024

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