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Court strikes ex-banker theft charges

17 December 2013, 11:30Augustine Osayande

Abuja - The Economic and Financial Crimes Commission (EFCC) is challenging the move by the courts to strike off the charge instituted against a former Managing Director and Chief Executive Officer of FinBank Plc (now First City Monument Bank), Okey Nwosu.

The EFCC has made the petition at the Court of Appeal.

The Court of Appeal’s Lagos Division, had on November 21 struck out the theft charge preferred against the former banker.

The court ruled that the Lagos High Court lacked jurisdiction to entertain the charges because they emanated from capital market transactions.

According to the court, such transactions should be handled by the Federal High Court.

Following the ruling, three former directors of the bank, Dayo Famoroti, Danjuma Ocholi and Agnes Ebubedike who were charged alongside Nwosu approached the Lagos High Court to dismiss the charges preferred against them based on the judgment of the appellate court.

Nonetheless, counsel to the EFCC, Rotimi Jacob (SAN) appealed to the court to adjourn the matter indefinitely pending the determination of its appeal at the apex court.

Justice Okunnu upheld the pleas of Jacob and adjourned the matter sine die to allow the Supreme Court rule on the matter.

Nwosu and other suspects were arraigned on a 26-count charge bordering on stealing and illegal conversion of N19. 2 billion belonging to the bank.

– CAJ News


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