4 Ex-Bank Chiefs Arraigned

The Economic and Financial Crimes Commission, EFCC, this morning arraigned four former Directors of FinBank Plc before an Ikeja High Court over allegation of stealing.

The ex-bank chiefs arraigned include Okey Nwosu, Dayo Famoroti, Danjuma Ocholi and Agnes Ebubedike.

They were alleged to have between 1 September and 29 September, 2006, fraudulently converted large sums of money belonging to Fin Bank to use of Springboard Trust and Investment Ltd., Omben Oil and Gas Ltd., Ferbond Real Estate Ltd., Busch Modern Machine Tool Ltd and Tyco Food Processor Ltd.,

When the charge was read to them in the open court, they however pleaded not guilty to the allegations.

The EFCC was unable to arraign former Intercontinental Bank boss, Erastus Akingbola and his wife, Anthonia before the same court.

The commission cited logistic reasons for being unable to bring him to the court this morning.

EFCC counsel, Mr. Godwin Odia, told the court presided over by Justice Kazeem Abiru, that the commission had intended to bring the defendants to the court but encountered logistic problems.

He assured the court that the defendants and EFCC officials were still on their way to the court premises.

Counsel to Akingbola and his wife, Mr. Felix Fagbogbe, frowned at the action of the EFCC and told the court that it was an indication that the commission is not ready to prosecute the matter.

He noted that a similar incident had occurred last week when the EFCC attempted to arraign his client before an Igbosere Magistrate’s Court.

He brought the attention of the court to a motion which he had filed challenging the jurisdiction of the court to hear the matter.

The commission assured the court it would respond to the motion appropriately.

Meanwhile, while the court was adjourning the matter, the EFCC brought Akingbola, but the court was not ready to continue with the matter as it had been adjourned till Monday, 15 May, 2011.

—Henry Ojelu