Court Vacates Bench Warrant Against CBN, Others In FinBank Ex-MD’s Trial

Must Read

Ondo 2020: Why Akeredolu Deserves Another Term – Falana

With the Ondo state gubernatorial poll drawing closer, popular human rights activist lawyer, Femi Falama(SAN) has drummed massive support...

Rep Member Asks Colleagues To Donate Salary To Security Agencies

 A member of the house of representatives from Kano state, Nasiru Ali has begged his colleagues in the house...

We’ll Continue Championing Rights Of Poor, Weak Nigerians – Gbajabiamila

The Speaker of the 9th Assembly, Femi Gbajabiamila has reiterated the stand of the house of Representatives to continue...

More Than 118 Persons Dead From Lassa Fever: NCDC

More than 118 persons have been killed by Lassa fever in the last eight weeks according to the Nigeria...

Why Boko Haram Is Targeting Christians: Lai Mohammed

Lai Mohammed, minister of information, has explained that Boko Haram is targeting Christians so as to trigger a religious...

Justice Lateefat Okunnu of a Lagos State High Court sitting in Ikeja yesterday set aside a bench warrant earlier made against the Central Bank of Nigeria (CBN). Other beneficiaries of the decision of the court are First City Monument Bank (FCMB) and one Judith Agwu over their non-compliance in tendering relevant documents in a fraud charge against former Managing Director of FinBank, Okey Nwosu and three others.

The judge, on March 30, 2017 issued bench warrant against the witnesses in the trial of Nwosu over alleged N10.9 billion fraud. However, when the matter came up for hearing yesterday, counsel to Nwosu, M.K. Oragwu told the court that the representatives from CBN and FCMB were present in court.

The witnesses despite subpoena failed to produce the documents, which the defendants claimed is relevant to their case. The CBN was represented by Egboagwu Ezulu, Deputy Director, Banking Services, who acknowledged that CBN was served with the subpoena, and thereafter tendered the documents sent through him from the bank.

Also, the Head of Litigation for FCMB, Elonna Ezulu tendered some documents relating to the matter. But EFCC counsel, Mr. Rotimi Jacobs (SAN) objected to the admissibility on the grounds that the representative of FCMB is not a witness and therefore cannot tender evidence relating to the case on the grounds of fair hearing.

“He cannot tender documents before the court because the prosecution would not be able to cross-examine him. It should also be noted that the annual returns of the bank, the financial statements are supposed to be filed at the Corporate Affairs Commission (CAC) and the CBN,” Jacobs said, adding that the defence cannot just call on FCMB to submit their copy.

They were arraigned in 2013 before Justice Okunnu. But the Court of Appeal on November 21, 2013 quashed the charges against them by the EFCC and set them free.

Source: Guardian

- Advertisement -
Ad ==> Discover how a young Nigerian graduate now makes a consistent 40k per week doing a legitimate online business. You too can start yours now, click here!!!


Please enter your comment!
Please enter your name here

More Articles Like This

- Advertisement -