Crime
N10.9bn Fraud: Court jails ex-Finbank MD, Nwosu, three others
Justice Lateefa A. Okunnu of the Lagos State High Court sitting in Ikeja, on Tuesday, January 5, 2021, convicted and sentenced Okey Nwosu, a former Managing Director, Finbank Plc, to three years imprisonment for over N10 billion fraud.
The Economic and Financial Crimes Commission (EFCC), had arraigned Nwosu alongside Dayo Famuroti, Agnes Ebubedike and Danjuma Ocholi on a 26-count amended charge bordering on stealing and illegal conversion to the tune of N10,934,704,402.
The defendants, who perpetrated the fraud while they were directors of the bank, pleaded not guilty to the charge preferred against them, thereby leading to their full trial.
In the course of the trial, the prosecution counsel, Rotimi Jacobs , SAN, called witnesses and also tendered several documents that were admitted in evidence against the defendants.
Delivering her judgment, the Judge found the defendants guilty and sentenced the first and second defendants, Nwosu and Famoroti, to three years imprisonment each.
The Judge also sentenced the third defendant, Ocholi, to 12 months imprisonment and slammed a six- month community service on the fourth defendant, Ebubedike.
The case had, suffered a setback as the defendants challenged the jurisdiction of the trial court up to the Supreme Court. While the court maintained its jurisdiction to try the defendants, Nwosu approached the Lagos Division of the Court of Appeal which in November 2013 struck out the charge against the banker.
The appellate court ruled that the Lagos High Court lacked jurisdiction to entertain the charges because they emanated from capital market transactions, which should be handled by the Federal High Court.
Following the appeal court ruling, Dayo Famoroti, Danjuma Ocholi and Agnes Ebubedike approached the Lagos High Court to dismiss the charges preferred against them.
But Rotimi Jacobs, SAN, counsel to EFCC had prayed the court to adjourn the matter indefinitely pending the determination of its appeal at the Supreme Court
Justice Okunnu upheld the prayers of Jacobs and adjourned the matter sine die to allow the Supreme Court rule on the matter.
The Supreme Court, in its judgment, upheld EFCC’s appeal. In a unanimous judgment, a seven-man panel of Justices of the apex court faulted the argument of the Court of Appeal that the decision by the EFCC to charge Nwosu and the other directors for stealing before the Lagos High Court, while it maintained a charge of money laundering against them, would amount to double jeopardy.
The Supreme Court directed Nwosu and co- defendants to submit themselves for trial before the Lagos High Court.
Eighteen people were killed on Saturday when four suicide bombers set off improvised explosive devices (IEDs) in Gwoza, Borno State, the State Emergency Management Agency (SEMA) has said.
The attack, one of the deadliest reported in the state in recent months, injured more than 30 persons. The degree of injuries ranges from abdominal ruptures to skull and limb fractures.
The Director-General of SEMA, Barkindo Saidu, said he witnessed the first blast.
“In my presence, at about 3 pm, the first bomb blast in Gwoza occurred, detonated by a female suicide bomber in the midst of the marriage ceremony celebration,” he wrote in a situation report later in the day.
“It affected more than 30 persons with various levels of injuries and instant death. Some minutes later, another blast occurred around General Hospital.”
The wedding was held at Tashan Mararaba near the Fire Service in Gwoza town.
A survivor said the first bomber was carrying a baby on her back when she stormed the venue and detonated the IED.
As people gathered to bury those killed at the wedding, Saidu said a third bomber, a lady, detonated another IED with a lot of casualties.
While emergency officials were in the hospital coordinating the rescue mission, a fourth blast was set off by a female teenager.
“So far, 18 deaths comprise children, adult males, females, and pregnant women. 19 seriously injured were conveyed to Maiduguri in four ambulances,” Saidu said.
At the time he released the situation report, he said 23 were waiting for military escort “in the Medical Regimental Services (MRS) Clinic.”
The evacuation of the injured continued into the night with the SEMA DG, who was in Gwoza when the attacks occurred, coordinating the process from there.
He also said he had received a report of a suspected suicide bomber in Pulka but did not provide further details about that.
The military has imposed a curfew in Gwoza LGA in the wake of the attacks.
Governor Abba Yusuf of Kano State has expressed shock over the boldness displayed by certain drug dealers, who have obtained court orders for the release of confiscated illicit drug shipments.
In a statement issued on Sunday by his spokesperson, Sunusi Tofa, the governor disclosed that he was shocked by their actions during his visit to the Kano Road Traffic Agency where he was briefed on the situation.
The governor’s amazement was evident as he discovered that some individuals who engaged in the illicit drug trade had successfully procured court orders for the release of their seized contraband.
He expressed surprise over the judge’s reasoning for issuing such questionable orders, emphasising the severity of the issue at hand.
Worried by the unfortunate development, the governor instructed the State Attorney General to formulate a comprehensive strategy to prevent drug traffickers from exploiting legal loopholes in the future.
He stressed the need for collaboration between the judiciary and the government, so as to shield the state from the dangers posed by drug trafficking.
Recognising the diligence of KAROTA in apprehending illicit drugs, the governor urged the agency to take the requisite actions to eliminate the confiscated substances.
Reiterating his administration’s unwavering dedication to combating drug smuggling within the state, Yusuf affirmed the state government’s assistance to agencies committed to tackling drug trafficking and abuse.
The Governor, who underscored the seriousness of the drug trafficking dilemma, called for the urgent need for a unified endeavour to protect the state from the menace of illicit substances.
The Lagos State Police Command has apprehended two robbery suspects, Musa Ibrahim (30) and Ibrahim Danjuma (22), who carried out a robbery attack on a woman in her shop in the Imude area of Ojo Local Government Area of the state.
The command’s Public Relations Officer, SP Benjamin Hundeyin, confirmed the arrest in a post on X (formerly Twitter) on Sunday.
He wrote, “30-year old Musa Ibrahim and 22-year old Ibrahim Danjuma robbed a woman in her shop at about 11pm in the Imude area of Ojo LGA. The police were alerted and a patrol team from Ilemba Hausa Division swiftly responded.
“The suspects were apprehended with the help of community members. A locally made firearm was recovered. Indeed, security is everyone’s business.”
SP Hundeyin’s post highlighted the collaborative efforts between the police and the community, emphasising the importance of collective security measures in tackling crime.
The prompt response by the Ilemba Hausa Division and the assistance from community members played a crucial role in the swift apprehension of the suspects and the recovery of the weapon used in the robbery.
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