Alleged N10.9 billion fraud: Ex-Finbank chiefs say court has no jurisdiction
Former Managing Director of Finbank Plc, Okey Nwosu and two other bank executives standing trial for an alleged N10.9 billion fraud on Thursday told an Ikeja High Court that it lacked jurisdiction and should discontinue hearing the suit.
The trio of Nwosu, Dayo Famoroti and Agnes Ebubedike had through their lawyers informed the court presided over by Justice Lateefat Okunnu that they had filed an appeal against its ruling at the Appeal Court.
The fourth accused person, Danjuma Ocholi through his lawyer, Victor Ukutt had, however, asked the court to set aside its ruling without filing an appeal at the Appellate Court.
Nwosu’s lawyer, Anthony Idigbe told the court that they were challenging Okunnu’s ruling on their Preliminary Notice of Objection delivered on May 24.
Okunnu in the ruling had held that the court had the jurisdiction to entertain the matter and had also refused to quash the charges preferred against the accused persons.
Idigbe, while moving the motion, informed the court that the records had been transferred to the Appeal Court in Lagos .
He said: `` Order 4 Rule 11 Court of Appeal Rules 2011 states that after an appeal has been entered and until it has been finally disposed of by the appellate court, the lower court shall stay proceedings on the matter.
According to him, Section 234(a) of the 1999 Constitution of the Federal Republic of Nigeria guarantees an individual the right to appeal any court decision unfavourable to him.
``The summary of this provision is that this court has lost jurisdiction and I urge it to be persuaded and bounded by the Supreme Court judgment”, Idigbe added.
Rotimi Jacobs, the Economic and Financial Crimes Commission (EFCC) counsel had opposed the position arguing that it was an ambush to frustrate the trial.
This morning they now served us a process wherein they claim that an appeal has been entered. They attached a letter which was purportedly written by the Lagos State Judiciary.”
He alleged that the letter which was undated also had an altered appeal number adding that even the court of appeal stamp appeared to be altered.
According to him, if an appeal has been entered, the respondent should be notified-- which was not done in this case.
Jacobs therefore asked the court for an adjournment to enable the EFCC to file a further affidavit to counter the ones filed by the accused persons.
The matter was adjourned to July 6 for argument.
Former Managing Director of Finbank Plc, Okey Nwosu and two other bank executives standing trial for an alleged N10.9 billion fraud on Thursday told an Ikeja High Court that it lacked jurisdiction and should discontinue hearing the suit.
The trio of Nwosu, Dayo Famoroti and Agnes Ebubedike had through their lawyers informed the court presided over by Justice Lateefat Okunnu that they had filed an appeal against its ruling at the Appeal Court.
The fourth accused person, Danjuma Ocholi through his lawyer, Victor Ukutt had, however, asked the court to set aside its ruling without filing an appeal at the Appellate Court.
Nwosu’s lawyer, Anthony Idigbe told the court that they were challenging Okunnu’s ruling on their Preliminary Notice of Objection delivered on May 24.
Okunnu in the ruling had held that the court had the jurisdiction to entertain the matter and had also refused to quash the charges preferred against the accused persons.
Idigbe, while moving the motion, informed the court that the records had been transferred to the Appeal Court in Lagos .
He said: `` Order 4 Rule 11 Court of Appeal Rules 2011 states that after an appeal has been entered and until it has been finally disposed of by the appellate court, the lower court shall stay proceedings on the matter.
According to him, Section 234(a) of the 1999 Constitution of the Federal Republic of Nigeria guarantees an individual the right to appeal any court decision unfavourable to him.
``The summary of this provision is that this court has lost jurisdiction and I urge it to be persuaded and bounded by the Supreme Court judgment”, Idigbe added.
Rotimi Jacobs, the Economic and Financial Crimes Commission (EFCC) counsel had opposed the position arguing that it was an ambush to frustrate the trial.
This morning they now served us a process wherein they claim that an appeal has been entered. They attached a letter which was purportedly written by the Lagos State Judiciary.”
He alleged that the letter which was undated also had an altered appeal number adding that even the court of appeal stamp appeared to be altered.
According to him, if an appeal has been entered, the respondent should be notified-- which was not done in this case.
Jacobs therefore asked the court for an adjournment to enable the EFCC to file a further affidavit to counter the ones filed by the accused persons.
The matter was adjourned to July 6 for argument.
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