Economic And Financial Crimes Commission V. Dr. Erastus Akingbola (2015)

LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL

AMINA ADAMU AUGIE, J.C.A. (Delivering the Leading Judgment)

This is yet another Appeal filed by the Appellant against a decision of Archibong J., in respect of criminal charges against the Respondent after he was removed as Managing Director of Intercontinental Bank Plc.

He was arraigned before the Federal High Court on Charges of creating a false or misleading appearance of active trading in the shares of Intercontinental Bank Plc. on the Nigerian Stock Exchange contrary to the Investment and Securities Act; Money Laundering contrary to the Money Laundering Act (Prohibition) Act, and other banking offences contrary to the Banks and Other Financial Institutions Act [BOFIA].

On 29/11/2010, and before an Amended Charge dated 26/1/2010 could be read out to the Respondent, Chief F. O. Fagbohungbe, SAN informed the court that the Respondent was challenging the charge, and had filed a Preliminary objection dated 26/11/2010 to that effect.

Learned senior counsel for the Appellant, E. C. Ukele, SAN complained of being taken by surprise and the matter was adjourned to 14/12/2010 “for arguments on objections and variation of bail”. Before the said date, the Appellant filed yet another Amended Charge dated 13/12/2010.

On 14/12/2010, it was learned senior counsel for the Respondent that complained and asked for an adjournment to file an objection to the Application to amend the said Charge, which was granted, and he filed another Notice of Preliminary Objection dated 17/2/2011 praying for –

“An Order refusing the amendment and/or dismissing the Proposed Amended 26 Count dated and filed on 13/12/2010 by the Complainant”.

The Grounds for the Objection are as follows –

(i) A 22 Count Charge dated 26/1/2010 was earlier filed by the Complainant herein on 29/1/2010 after the initial 28 Count Charge dated 21/12/2009 filed by the Complainant on the same date.

(ii) Before the plea of the Accused/Applicant was taken in respect of the said Amended Charge, a Notice of Preliminary Objection dated 26/11/2010 was filed by the Accused/Applicant urging this Honourable Court to quash and/or strike out the Amended Charge.

(iii) Upon the service of the Accused/Applicant’s Notice of Preliminary Objection on the Complainant, yet another Proposed Amended Charge dated 13/12/2010 was filed by the Complainant.

(iv) The Notice of Preliminary Objection dated 26/11/2010 is challenging the jurisdiction of this Honourable Court.

(v) The Proposed Amended Charge dated 13/12/2010 is meant to overreach the Objection of the Accused referred to in 4(iv) above and prejudice him.

(vi) The Proposed Amended Charge dated 13/12/2010 is an abuse of the processes of this Honourable Court.