A Federal High Court sitting in Lagos has dismissed a “No-Case-Submission” application filed by three directors of an oil firm, Petro Union Oil and Gas Limited, who are standing trial over an alleged £2.6bn fraud.The trial judge, Justice Mohammed Liman, in his ruling on the application, held that the Federal Government had made out a prima facie case against the company and its directors, which requires them to enter a defence.
The Economic and Financial Crimes Commission is prosecuting three directors of the company – Kingsley Okpala, Prince Chidi Okpalaeze, and Prince Emmanuel Okpalaeze – before the court on allegations of conspiracy, obtaining money by false pretences, an attempt to steal, and forgery.The anti-graft agency had claimed that the defendants fraudulently procured a cheque from a foreign bank for £2.
The EFCC had also maintained that the offences are contrary to and punishable under sections 1, 1 of the Miscellaneous Offences Act, Law of the Federation of Nigeria, 1990. The anti-graft agency’s lawyer argued that all investigations by Union Bank, Central Bank, Bankers’ Committee, and the EFCC confirmed that the defendants were engaged in clearly fraudulent activities.
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Source: GuardianNigeria - 🏆 1. / 94 Read more »