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Monday, July 19, 2010

Court adjourns former Afribank MD's case to October 28.

The Federal High Court, Lagos, has application filed by the former Managing Director of Afribank Plc, Sebastian Adigwe to quash the charge against him.

Adigwe was re-arraigned by the EFCC on April 21 with four directors of the bank on a 33-count charge of granting credit facilities to the tune of N38 billion, without collaterals.

The directors are Osa Osunde, Isa Zailani, Chinedu Onyia and Henry Arogundade.

Also joined in the suit are the Managing Director of Falcon Securities, Peter Ololo, and his company.

At the resumed hearing of the case on Monday, counsel to the accused,Tony Idigbe, told the court that an application had been filed to quash the charge.

He contended that the proof of evidence did not link the accused with the case.

Idigbe urged the court to order the EFCC to release the international passports of the accused,stressing it is illegal for the EFCC to hold on to their passports.

The prosecution counsel,Rotimi Jacobs, however, did not object to the release of the passports to the court but raised objections to the verification of the bail terms.

Justice Jonathan Tsoho ruled that the passports should be deposited with the court and adjourned the case till October 28.

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