EFCC Press Release: Former FinBank MD, Okey Nwosu, Others Used Fake Customers’ Names To Acquire N18Billion Shares

Okey Nwosu
By Wilson Uwujaren- Ag. Head, Media & Publicity

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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Akpos1 the fraud

you said you have agriculture? I'm not surprised - your ariaria sense is on display.

ABEG, I DEY CONFUSED IS THIS

ABEG, I DEY CONFUSED IS THIS NOT THE SAME OKEY NWOSU MENTIONED BY COSCHARIS AS KICKING AGAINST HAVING ANYTHING TO DO WITH UBAH OF CAPITAL OIL, CLAIMING (OKEY) THAT HE IS A THIEF, A SCOUNDREL AND A PERSON NOT WORTHY TO EVEN TAKE A PICTURE WITH?

IS THIS NOT THE OKEY NWOSU MENTIONED AS A DIRECTOR OF ACCESS BANK? LORD HAVE MERCY. SO WHAT THEN IS THE DIFFERENCE BETWEEN HIM AND UBAH OF CAPITAL OIL? BOTH ARE THIEVES.

Re igbo's again

You should mind your language is it only the igbn's that were mentioned in the post

Udo mbakara the house boy and cook

@udo mbakara, and where will you go to perform your house boy and cook duties if ibo's block you from earning salaries cause Hausa people will kill you and Yoruba people will shit on you.

IGBOS AGAIN?

Igbos will be on their own. They are like CANCER. Biko!!!

Terrible Crooks. They can sell their parents and collect CASH.

They will remain in their zone in case of Nigeria break-up. It will certainly be ' TO THY TENT O! ISREAL'!!!!

Re:Akpos

@edet, I can understand the genuine fear of the ibo's, you are not alone. The common denominator in the universal hatred of the ibo in Nigeria is their ability to dominate everything and everywhere just by shear hard work. My bros if I were you, I too would be scared of domination. No one sees on incoming train and stand in its way especially the one without horns( meaning you don't see or hear it coming until you are made second class citizens in ur own land, ur words not mine). Fortunately this go around, ibos have everything and more ss don't have. They have individual talents, creativity, all the natural mineral, uncontaminated environment and are arguably the richest tribe in Nigeria per capita. The reverse would be the case as not only would ibos control the wealth of the lazy ss by proxy, but they would impose a visa regime to stop the ss from running away from their degraded environment that would take 500 yrs to clean up.

Re: Akpos

Edet, you are a calabar man. Do you call yourself SS too? When did calabar become SS. By the way who wants to associate igbo with SS? What is it about SS that will interest the igbo in this age and time? There is oil,coal,limestone,iron ore,agriculture,commerce,education etc in SE. What is in SS- oil and ?

The chief of these parasites is akpos1's igbo (SE)

There's a guy who cals himself akpos1 shouting republic of SS&SE. Dis guy is a fraud/fake. his real name is chijioke, a typical igbo criminal who's tryin to muddleup we SS with ndigbo.akpos1 is not from d SS and all his lousy claim doesnt represent our standing. igbos thru their biafra project are so desperate to capture our land and wealth, we SS wil never subject ourselves to them. Beware of chijioke parading himsef as akpos1 who is leading other igbos criminals to deceive people by fraudulently knitting SS&SE together.If Yorubas can maintain their SW without encroaching other people's land, why must igbos look for SS to shoulder their troubles? SE go alone and if u cant sustain urselves, let ur children apply for SW or SS visa.My dear Comrades in SS, let's stand up against these greedy ibos who want to steal our wealth and relegate us to 2nd-class subject. No way! Ndigbos' dream of United States of SE&SS is a scam, it shal not stand!

EFCC, What Nigerians REALLY want for Christmas!

It is OK for EFCC to prosecute Okey Nwosu and three other directors for using the names of spurious customers of the bank to purchase shares worth N18billion from Springboard Limited.

What Nigerians really want beyond these flurries of activities by EFCC is a convincing run for the big money.

That there is a true fight against corruption is when EFCC GOES AFTER the BIG players in:
CHOGM.
PTDF.
SAGEM.
SIEMENS.
31 Governors including TINUBU, GEJ and his wife PATIENCE.
HALLIBURTON.
OIL SUBSIDY.
IBB's $12.4 Billion GULF OIL WINDFALL.
POWER PROBE.
MALABU AND ETC ETC.

That is where the real corruption money is. Will it ever happen?

Until we get to that chapter in this saga of containing corruption and bringing our corrupt leaders to book, we are still SKIRTING the surface of corruption muck and dealing with the small time thieves, genuine nation building, building confidence in our leadership, will not be in place.

D REGIONAL THIEVES ARE HERE AGAIN

3 BLIND MICE WHO WANT TO RULE 9JA AGAIN-AFTER BEING IN D SADDLE FOR OVER 40YRS--THEY HAVE BEEN STEALING THE RESOURCES OF THE SS SINCE 1958-WHEN OIL WAS FIRST DISCOVERED IN 9JA! WHEN THEY ARE DONE DESTROYING WHAT REMAINS OF THE ZONE-THEM WILL START TO BLAME IBORI AND ALAMS----BUT NEVER THEIR THIEVING SONS AND DAUGHTERS FROM THE OLD REGION-BREAK UP--NOW