News hotlines: 08111813019, 08025868561
Email: firstname.lastname@example.org, email@example.com
Lead Councils to the former Managing Director of defunct Finbank Plc, Okey Nwosu, three former directors of the defunct bank: Dayo Famoroti, Danjuma Ocholi and Agnes Ebubedike, has again indicated readiness to challenge the January 6, 2021 judgement of Justice Lateefat Okunnu of the Lagos High Court in Ikeja which convicted and sentenced a former Managing Director of defunct Finbank Plc, Okey Nwosu to three years imprisonment.
Justice Okunnu handed down the sentence after she found the former bank boss and three other Directors of the bank guilty of stealing over N18 billion from Finbank Plc, now First City Monument Bank (FCMB).
Convicted alongside Nwosu are three former directors of the defunct bank: Dayo Famoroti, Danjuma Ocholi and Agnes Ebubedike.
They were arraigned before the court by the Economic and Financial Crimes Commission (EFCC) on a 26-count charge of stealing and illegal conversion.
The convicts were first arraigned in 2013 before Justice Okunnu, but the Court of Appeal had on November 21, 2013 quashed the charge brought against them by the EFCC and set them free.
The EFCC, however, appealed to the Supreme Court, which upturned the Appeal Court judgment and ordered Nwosu and others to return to the high court for their trial.
In her judgment delivered yesterday, the judge sentenced two of the convicts, Okey Nwosu and Dayo Famoroti, to a three-year-jail term.
The court also ordered the dup to repay N18 billion they stole.
While the third defendant, Danjuma Ocholi, was sentenced to 12 months in jail and the fourth defendant, Agnes Ebubedike, was sentenced to six months community service.
Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.