The ongoing trial of the defunct FinBank Managing Director, Okey Nwosu, and
three others, continued on Thursday before Justice Lateefah Okunnu, of a Lagos
High Court, sitting in Ikeja.
The prosecution witness, Anafi Buba Mohammed told the court that none of the
directors of Finbank Plc paid for about 2 billion units of shares allotted
them.
The witness, who is a law enforcement officer in charge of compliance and
Enforcement Department in the Economic and Financial Crimes Commission
(EFCC), also said there was no loan involved in the purchase of the shares by
the directors of the bank.
EFCC had charged Okey Nwosu along three other former directors of the bank,
Dayo Famoroti, 2nd defendant, Danjuma Ocholi, 3rd defendant and Mrs. Agnes
Ebubedike, 4th defendant for an alleged theft of N10.9b belonging to the Bank.
According to Mohammed, who was being cross examined by Mr. O. A. Ogunlesi, the
counsel to Mr. Danjuma Ocholi, the bank used customers' money to pay for the
shares.
He said there was also no board approval for the shares that were allotted to
the directors.
Mohammed explained that the share allotment which is the subject of the
on-going litigation is different from the one for which the directors got
back loan to purchase.
The Compass
No comments:
Post a Comment