Connect with us

Hi, what are you looking for?

News

Court Jails Ex-Finbank MD, Three Others Over ₦18bn Theft

The Lagos High Court sitting in Ikeja has convicted a former Managing Director of Finbank plc, Okey Nwosu and three other directors of the bank.

Justice Lateefat Okunnu convicted the four for stealing over ₦18 billion from the bank

In her judgment delivered on Tuesday, the court sentenced the 1st and 2nd Defendants (Okey Nwosu and Dayo Famoroti) to a three-year jail term and ordered them to repay the 18 billion Naira.

While the 3rd Defendant (Danjuma Ocholi) was sentenced to 12months in jail and the 4th Defendant (Agnes Ebubedike) was sentenced to 6months community service.

The convicts were first arraigned in 2011 before Justice Okunnu, but the Court of Appeal had on November 21, 2013 quashed the charge brought against them by the EFCC and set them free.

The EFCC however, appealed to the Supreme Court, which upheld the appeal and ordered Nwosu and others to return to the high court for their trial.

They were subsequently re-arraigned before the court by the Economic and Financial Crimes Commission (EFCC) on a 26-count charge of stealing and illegal conversion.

Click to comment

Leave a Reply

Your email address will not be published.

ad

You May Also Like

Business

Nigerians can now enjoy free delivery of highly subsidised quality medicines to their preferred locations nationwide effective from Monday, August 15, 2022, courtesy of...

Entertainment

In Ayobami’s world of algorithms, hashtags and posts, the last place the social media blogger expected to find love was on the streets of...

News

Broadcasting Organisation of Nigeria (BON), the organisers of The Nigerian Broadcasting Awards (TNBA), have stated that the awards process and ceremony will be a...

News

NoGoFallMaga (NGFM), a campaign instituted by the CyberSafe Foundation has released its first Investment Scam handbook through its Community platform. Released on August 12...