A Lagos High Court sitting in Ikeja and presided over by Justice Lateefa
Okunnu, was on Tuesday, 27 November, 2012 told that a former managing director
of FinBank Plc ( Now First City Monument Bank), Okey Nwosu and three other
directors being prosecuted by the Economic and Financial Crimes Commission,
EFCC, used names of spurious customers of the bank to purchase shares worth
N18billion from Springboard Limited.
The three directors are: Dayo Famoroti, Danjuma Ocholi and Agnes
Ebubedike.
Sabo Yaro, an operative of the EFCC, who is a prosecution
witness in the on-going trial told the court that the Federal government in
2009 set up a task force comprising the EFCC, Central Bank of Nigeria, State
Security Service, Nigeria Deposit Insurance Corporation and the police to look
into the management of some bank and discovered that the accused persons
used their positions to debit account of FinBank to the tune of N18
billion and credited same to Springboard Limited to purchase shares for bank
customers.
Led in evidence by EFCC counsel, Rotimi Jacobs, Yaro said it was
discovered in the course of investigations that the customers for which
the shares were purportedly purchased on their behalf were not
customers of the bank and that the addresses they gave as offices did not
exist. He said they also got confirmation from the bank through a letter that
the companies for which the shares were bought are not real customers
of the bank.
Jacobs tendered a 225 page report of the CBN and NDIC to the court which was the findings the team that investigated the bank. The report was admitted as exhibit by the court. Justice Okunnu adjourned the matter till Wednesday, 28 November for continuation of hearing.
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