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Money laundering: Ex-bank director asks court stay proceedings


LAGOS—Counsel to Niyi Opeodu, a former director of Union Bank Plc,  yesterday, asked a Federal High Court sitting in Lagos to stay further proceedings in the money laundering charge brought against him.

Niyi Opeodu is standing trial alongside former Managing Director of Union Bank, Barthlomew Ebong, Henry Onyemem, and Samuel Anyininuola, former directors of the bank.

They are being prosecuted by Economic and Financial Crimes Commission, EFCC, alongside a Company, Falcon Securities Ltd, and its Director, Peter Ololo, on a 20-count charge bordering on the offence.

At the resumed hearing in the case, counsel to Niyi Opeodu, informed the court of his motion for stay of its proceedings, pending an appeal at the Appeal Court.

The prosecutor, in reply, told the court that it had filed a counter affidavit to the motion, and served same on the defence counsel, who said he required seven clear days to respond.

Trial judge, Justice Rita Ofili-Ajumogobia adjourned the case to February 7 and 17 for hearing.

The accused were re-arraigned before Ofili-Ajumogobia in November 15, 2012, following the transfer of the former trial judge, Justice Binta Murtala-Nyako from the Lagos division.



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