Court rules on former Finbank boss bail May 24.
An Ikeja High Court in Lagos on Friday fixed May 24 for ruling on the bail applications filed by Okey Nwosu , former Managing Director of Finbank Plc.
Nwosu and three other executives of the bank were arraigned by the Economic and Financial Crimes Commission for alleged theft on May 10.
The others standing trial before Justice Lateefat Okunnu along with Nwosu, are Agnes Ebubedike, Danjuma Ocholi and Dayo Famoroti.
The accused persons are facing a 26-count amended charge, were alleged to have stolen about N10.9 billion belonging to the bank.
The accused persons had separately filed applications for bail and had also filed a Notice of Preliminary Objection seeking the court to quash the charges against them. The ex-bank chiefs in their preliminary objection had asked the court to quash the charges on the grounds that they were being tried for the same offences before a Federal High Court in Lagos.
At Friday’s proceedings, Nwosu’s counsel, M. Dimgba SAN told the court that all the accused persons had been granted bail by the same Federal High Court.
Speaking similarly, Ocholi’s counsel, Victor Ukutt urged the court to exercise its discretionary power in favour of his client who had no prior criminal record.
The defence counsel assured the court that the accused persons would not jump bail and pleaded that should it not be on stringent conditions that would defeat its essence.
Ukutt urged the court “to grant the bail to give validity to the principle of ‘presumption of innocence’ and on liberal terms’’.
The defence further argued that it would amount to double jeopardy for the accused to be tried by two different courts on the same charge.
EFCC counsel, Rotimi Jacob objected to the application contending that granting of bail was not automatic, even if it had been granted in a suit of similar charges before another court.
Jacob also argued that the charges brought against the accused persons were totally different from the ones they were charged with at the Federal High Court.
Okunnu, after hearing the submissions of both the prosecution and defense counsel, adjourned ruling on the applications to May 24.
An Ikeja High Court in Lagos on Friday fixed May 24 for ruling on the bail applications filed by Okey Nwosu , former Managing Director of Finbank Plc.
Nwosu and three other executives of the bank were arraigned by the Economic and Financial Crimes Commission for alleged theft on May 10.
The others standing trial before Justice Lateefat Okunnu along with Nwosu, are Agnes Ebubedike, Danjuma Ocholi and Dayo Famoroti.
The accused persons are facing a 26-count amended charge, were alleged to have stolen about N10.9 billion belonging to the bank.
The accused persons had separately filed applications for bail and had also filed a Notice of Preliminary Objection seeking the court to quash the charges against them. The ex-bank chiefs in their preliminary objection had asked the court to quash the charges on the grounds that they were being tried for the same offences before a Federal High Court in Lagos.
At Friday’s proceedings, Nwosu’s counsel, M. Dimgba SAN told the court that all the accused persons had been granted bail by the same Federal High Court.
Speaking similarly, Ocholi’s counsel, Victor Ukutt urged the court to exercise its discretionary power in favour of his client who had no prior criminal record.
The defence counsel assured the court that the accused persons would not jump bail and pleaded that should it not be on stringent conditions that would defeat its essence.
Ukutt urged the court “to grant the bail to give validity to the principle of ‘presumption of innocence’ and on liberal terms’’.
The defence further argued that it would amount to double jeopardy for the accused to be tried by two different courts on the same charge.
EFCC counsel, Rotimi Jacob objected to the application contending that granting of bail was not automatic, even if it had been granted in a suit of similar charges before another court.
Jacob also argued that the charges brought against the accused persons were totally different from the ones they were charged with at the Federal High Court.
Okunnu, after hearing the submissions of both the prosecution and defense counsel, adjourned ruling on the applications to May 24.
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