Money Laundering: Cecilia Ibru Jailed



A Federal High Court sitting in Lagos, South-West Nigeria, this afternoon sentenced the  former Managing Director/Chief Executive Officer of Oceanic Bank International Plc, Dr.  Cecilia Ibru to 18 months imprisonment in a plea bargaining arraignment.


However, the convicted banker will spend only six months in the prison as she was  convicted six months each on a three-count charge. And the sentences are to run  concurrently.

The Economic and Financial Crimes Commission, EFCC, prosecuting counsel, Mr. Kola  Awodehin, told the court that there was an agreement between the prosecution and the  accused person which has involved a formal agreement which he filed before the court  asking it under order 17 of the Federal High Court Act and section 6(6) of the  Constitution which enjoined the court to promote reconciliation among parties to  facilitate amicable settlement in civil and criminal cases. Therefore, he urged the court  invoke such power.

Awodehin further told the court that it is the desire of the prosecution to amend the  charges that have been filed in the matter by applying to withdraw all the charges with  the exception of three charges which are counts: 14, 17 and 23. Thereafter the accused  was freed on the other charges.

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She pleaded guilty to the three-count charge. She was consequently sentenced.

Her lawyer, Prof. Taiwo Osipitan (SAN), pleaded that she was coming from the hospital to  the court.

Delivering his judgement, Justice Dan Abutu sentenced Mrs. Ibru and directed that she  should be returned to the hospital.

—Akin Kuponiyi

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