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Nigeria: Finbank ex Boss gets Court’s Leave to Travel

Okey Nwosu, Former Managing Director of Finbank Plc

A Federal High Court sitting in Lagos has granted permission to former Managing Director of Finbank Plc, Okey Nwosu and a Director in the bank, Dayo Famoroti, to travel abroad for medical checkup and business dealings.

The Presiding judge-Justice Dan Abutu ,while ruling on the two accused person applications for leave to travel outside the country during their trial also ordered that they must be back in the country two clear days before the next proceedings.

Also, during yesterday’s proceedings, counsel to the EFCC, Rotimi Jacobs told the court that the charges against the accused persons have been amended in line with the ruling of the court where some charges against them were nullified.

On counts 39 to 86, the court held that the penal provision for the counts were not disclosed, adding that the major error offends section 159 (1) (2) (3) and (4) of the Criminal Procedure Act (CPA) and Section 36 of the Constitution.

Nwosu, Famoroti and Ocholi had filed separate applications urging the court to quash all the 90 counts in the charge against them on the grounds that the charge disclosed no reasonable cause of action against them.

They specifically argued that the charge disclosed no prima facie case against them, and that the counts were incurably bad, defective and speculative. Besides, they argued that the court lacked jurisdiction to adjudicate on the counts as framed.

Responding, the EFCC had opposed the applications on the ground that the charges were properly framed and brought under the right law.

After reviewing all the submissions, Justice Abutu held that some of the counts could not stand in the eyes of the law, according to him, on the whole, the three applications succeed in part. Counts 7, 39 to 86 are hereby struck out.”

Already, applications for a stay of proceedings have been filed by all the accused persons, the court has been adjourned the matter till the 29th of November, for the hearing of the trio’s application for stay of proceedings.