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At the resumed
proceedings of the matter which was slated for trial, lawyer to the Economic
and Financial Crimes Commission, EFCC, Mr. Kemi Pinheiro, SAN, informed the
court of the Court's Chief Judge directive of likely transfer of judges and
advised judges no to commence any trial that they may not be able to conclude
before the transfer.
Upon the revelation made
by Pinheiro, SAN, the presiding Justice Saliu Saidu, adjourned the matter till December 10, for
mention.
The two former bank's
managing directors were charged before Justice Saliu Saidu by the Economic and
Financial Crimes Commission, EFCC, on an amended 45-count charge bordering on
alleged N125 billion fraud, conspiracy, reckless granting and approval of loans
and money laundry between September 1, 2006 and 2009.
But they had pleaded not
guilty to all the 45, and they are currently on bail.
The alleged offences
according to the anti-graft agency, contravene Section 14(1) of the Money
Laundering (Prohibition) Act and Section 516 of the Criminal Code Act Cap 38,
Laws of the Federation of Nigeria 2004. While offence of reckless granting of
loans contravene Section 7(1)(b) of the Advance Fee Fraud and other Fraud
Related Offences Act and punishable under section 7(2)(b) of the Advanced Fee
Fraud Act, 2004, and sections 15(1) of the Failed Banks (Recovery of debts) and
Financial Malpractices in Banks Act, 2004.
At the last proceedings
of the case, Mr. Osahon Idemudia, counsel to the second accused, Charles Ojo,
had asked the court for an adjournment to him have pre-trial conference with
his client.
The anti-graft agency had
re-arraigned both Atuche and Ojo before the court on charges of acquiring
Keystone Bank's shares using depositors' funds.
The duo were also alleged
to have applied N3.5billion, being proceeds of unlawful loans granted to
Tradjek Nigeria Limited, a subsidiary of Futureview Financial Services Ltd, in
payment for his acquisition of shares of Bank PHB using various companies as
fronts with an intention to conceal the ownership of the loans. And that he
collaborated with different companies to conceal the genuine origins of the
N3.5billion used to acquire the bank's shares.
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