Connect with us

Hi, what are you looking for?

Metro

Appeal Court Affirms Okey Nwosu’s Conviction Over ₦10.9 Billion Fraud

Attempt by the former managing director of the defunct FinBank Plc, Mr. Okey Nwosu[s][/s] and Dayo Famoroti to set aside their conviction by Justice Lateefa Okunnu of the Lagos High Court literally hit the rock today June 8, 2022 as the Court of Appeal sitting at Tafawa Balewa Square, Lagos upheld their conviction as well as the three years jail terms slammed on them.

However, the appellate court reduced the restitution order made from Eighteen Billion Naira to Ten Billion Naira on the grounds that the bank (FinBank Plc.) had recovered about Eight Billion Naira.

Justice Okunnu, had in January 2021 convicted and sentenced Okey Nwosu and Famoroti to three years imprisonment over N19.2 billion fraud.

The Economic and Financial Crimes Commission (EFCC) prosecuted Nwosu alongside Dayo Famoroti, Agnes Ebubedike and Danjuma Ocholi on a 26-count amended charge bordering on stealing and illegal conversion to the tune of N19.2 billion.

The defendants were said to have perpetrated the fraud while they were directors of the bank.

Click to comment

Leave a Reply

Your email address will not be published.

ad

You May Also Like

Tech

Chika Ekeji, Chief Strategy & Transformation Officer of MTN Group, has reiterated the company’s commitment to become the largest, most valuable business platform in...

Tech

Opinion Moulders in the technology and business circle in Africa are set to gather in Lagos, Nigeria (West Africa) on 9 November 2022 for...

Tech

Clickatell, a CPaaS innovator and Chat Commerce leader, discussed with attendees at its Connect Interact and Transact (CIT) annual Joburg event on Tuesday the...

News

The National Information Technology Development Agency (NITDA) has continued to display its commitment to the sustainability of a digitally transformed Nigeria by engaging the...