News

September 17, 2013

Dismiss N10.9bn theft charge, Nwosu, other Finbank directors tell court

By Onozure Dania

Lagos — The former Managing Director of Finbank Plc,Okey Nwosu alongside three other directors of the bank, yesterday, asked a Lagos High Court sitting in Ikeja to dismiss the alleged N10.9 billion theft charge preferred against them by the Economic and Financial Crimes Commission, EFCC.

The defendants who made the request in separate no-case submission applications, filed by their counsel, argued that no prima-facie case has been established against them to warrant opening their defence.

Nwosu, alongside the other ex-directors, Dayo Famoroti, Danjuma Ocholi and Agnes Ebubedike, are being prosecuted by the EFCC.

They had been arraigned before Justice Lateefat Okunnu, of an Ikeja High court, for allegedly stealing the sum of N10.9 billion belonging to Finbank.

The EFCC had closed its case against the defendants on June 28,2013 after calling nine witnesses to testify against them.

The EFCC counsel, Mr. Rotimi Jacobs, SAN, had urged the court to order the defendants to open their defence.

However, the defence counsel, James Ocholi, SAN, Seyi Sowemimo, SAN, and Okorie Kalu, yesterday, notified the court that they have filed their separate no-case submissions to the charge.

They said the applications had been served on the prosecution.

Confirming the service, Jacobs told the court that the prosecution’s counter-affidavits in opposition to the applications, were served on all the defendants on September 13, 2013.

The defence counsel further urged the court to grant them time to file their responses to the prosecution’s counter-affidavit.

However the judge adjourned the matter to September 30, for hearing of the no-case submission applications.