A Lagos State High Court in Ikaja has
discharged and acquitted one Mr. Ebi Odeigah, who was accused of
stealing N860m belonging to the Union Bank of Nigeria Plc.
Freed alongside Odeigah after six years
of trial by the Economic and Financial Crimes Commission are his
stockbrokerage firm, GMT Securities and Asset Management Limited, and
his brother-in-law, Alexander Nkenchor, who was a branch manager with
Union Bank.
The EFCC, in charge number ID/136/2009,
arraigned the three defendants in December 2009 on 13 counts bordering
on conspiracy, stealing and issuance of dud cheques.
The anti-graft commission alleged that
Nkenchor, who was at the time the manager of the Golden Plaza branch of
Union Bank at Falomo, Lagos, aided his brother-in-law, Odeigah, a
stockbroker, to siphon funds belonging to Union Bank by making
“unauthorised payment” in favour of Odeigah’s firm, GMT Securities and
Asset Management Limited.
Odeigah was also accused of issuing several dud cheques which were dishonoured.
Read More http://www.punchng.com/feature/the-law-you/efcc-loses-n860m-theft-case-against-stockbrokerage-firm/
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