30 C
Lagos
Friday, October 30, 2020
- Advertisement -

Azibaola Wins Legal Appeal

Opinion

#EndSARS Protest: A Fundamental Lesson in Democratic Governance – By Bola Ahmed Tinubu

I heavily grieve for those who have lost their lives or been injured during the period of these protests. My deepest sympathies...

#EndSARS Protests: Nigeria’s President Could Have Prevented Escalation of Violence but Poured Oil on the Fire Through His Silence – By Chidi Anselm Odinkalu...

Located in the central regions of Nigeria’s Delta State, Ughelli is a sleepy city in the Western Niger Delta and the unlikely...

We Must Get Children Back to Learning – But Business As Usual is Not an Option By Jutta Urpilainen and Henrietta Fore

A global joint op-ed by the EU and UNICEF on education for children “One child, one teacher, one book,...

Subjecting Anti-SARS Agitation to Political Interpretation is Jejune Partisan Stimulus By Chris Okotie

Chairman Mao once posited that if the people no longer fear your power, it is because another power is on its way....

The Court of Appeal, Abuja, on Friday upheld the no-case submission filed by former President Goodluck Jonathan’s cousin, Robert Azibaola, in his trial for alleged fraud and money laundering trial.

The Economic and Financial Crimes Commission (EFCC) had in 2016 arraigned Azibaola and his wife, Stella, on a nine-count charge of fraud and money laundering to the tune of $40million.

The EFCC had alleged that the Azibaolas acting in concert with an associated company One Plus Holdings Limited, diverted the funds meant for the supply of tactical communication kits for Special Forces.

The EFCC had also stated that the funds were transferred from the account of the Office of former National Security Adviser, Colonel Sambo Dasuki (Retired), with the Central Bank of Nigeria (CBN) to the domiciliary account of Azibaola’s company.

A three-member panel of the appellate court led by Justice Stephen Adah in a unanimous judgment held that the prosecution failed to establish a prima facie case against the defendants.

The panel held that the lower court was right when it upheld the no-case submission of the first and third defendants partially.

Justice Adah ruled: “The trial court was in order to discharge and acquit Azibaola and his company in counts 1,4,5,6,7,8 and 9 because offences of money laundering were not sufficiently proved, nor did the prosecution established any prima facie case against the respondents.

“We have gone through the records and found that the appeal is lacking in merit, the appeal is hereby dismissed and the Judgment of the lower court upheld.”

The court also dismissed a preliminary objection to the appeal.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Business Profiles

Theresa Ekong

Theresa Ekong is the Acting Head of Compliance at Providus Bank. She has over 18 years industry experience cutting across banking Operations,...

Mark Oguh

Mark has 22 years experience in the Banking industry covering Operations, Audit and Financial Control. He is also a...

Aina Amah

Aina Amah is a graduate of Economics from the University of Lagos and an MBA from the University of Nicosia, Cyprus. She...

Uyi Osagie

Uyi Osagie is the Chief Financial Officer of Allianz Nigeria. He joined Allianz as Financial Controller from 2014 and rose through the...

Usen Udoh

Usen Udoh is the Group Chief Human Resources Officer of the Dangote Group where he oversees a team of busines unit human...