The Economic and Financial Crime Commission (EFCC) has taken stockbrokerage firm, CSL’s Stockbrokers and three others to the Federal High Court in Lagos, before Justice Ayo Emmanuel, for allegedly converting total sum of N34 million, representing 298,550 units of shares belonging to one late Joseph Adeniji.
The anti-graft agency said the deceased acquired the shares in Guinness Nigeria Plc, Nestle Food Plc, Julius Berger Plc, Unilever Nigeria Plc, Nigeria Enamelware Plc and Union Bank of Nigeria Plc.
The stock brokerage firm was charged alongside Kasumu Ademola, Salau Mikailu and Ganiyu Isola, who were listed as the first, second and third defendants respectively.
The EFCC said that the defendants committed the offence between 2015 and 2017, and that they acted contrary to Section 18(a) of the Money Laundering (Prohibition) Act, 2011 and were liable to be punished under Section 15(3) of the same Act.
However, the EFCC’s move was opposed by the 4th defendant’s counsel, Professor Taiwo Osipitan (SAN), who complained that the service of the charge sheet on his client did not meet the provisions of the Administration of Criminal Justice Act, 2015.
Professor Taiwo argued that his client was only served with the charge sheet yesterday, Monday, contrary to the provision of the ACJA that a charge sheet must be served on a defendant at least three days before the date of arraignment.
The prosecuting counsel for the EFCC, Abdullahi Idris, conceded to the Prof.
Justice Ayoola therefore adjourned the case to December 12, 2018, for the arraignment of the defendants as the commencement of trial.
