Fidelity bank banner UBA banner
EFCC busts illegal bank, docks operator

By Wandoo Sombo on 13/06/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 755

EFCC logo
EFCC logo

The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned one Philemon Gora in a Federal High Court, Abuja for allegedly operating a bank without a valid license.

Gora was arraigned along with his company, Cash Flow Global Fund Investment on a two-count charge of operating a bank without license and consenting to carry out banking business without a valid license.

“That you Philemon Gora, knowingly consented to the carrying on of banking business without a valid license issued to the company.

“You thereby committed an offence contrary to Section 49(1) of the Banks and other Financial Institutions Act and punishable under Section 2 of the same act,” one of the charges read.

Gora pleaded not guilty to the charges stressing, “I am not guilty because I have a valid licence”.

Following an oral application for bail by his counsel, Mr Alex Marema, the judge, Justice Ijeoma Ojukwu admitted him to bail in the sum of N10 million with two sureties in like sum.

The sureties, the judge said must be officers, not below grade level 16 and must be resident within the jurisdiction of the court.

The judge said the sureties should deposit their two recent passport photographs with the court.

The prosecuting counsel, Mr G.K. Latona had objected to the oral application for bail on the ground that the defendant, having stated in the dock that he had a valid license, would continue to operate the bank if granted bail.

Latona also told the court that over 60 million Nigerians were customers of the bank with over N2 billion in the bank.

The judge, however, said that she was mindful to grant Gora bail because she understood his statement that he had a valid license to mean that he was not guilty of the charge and not otherwise.

She said that she considered the oral application for bail of the accused in the interest of justice taking into cognisance the coming public holiday.

She adjourned the matter until Oct. 2 and Oct. 10 for commencement of trial. (NAN)

Source News Express

Posted 13/06/2018 9:41:18 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
2 South-East governors to join APC before 2019...

State of the nation: Southern leaders meet in...

Delta State tightens noose on monkey pox

Chrisland School supervisor in trouble for allegedly defiling...

Enugu LGA poll: APC drags INEC, ENSIEC to...

Anger, confusion in Senate as AGF snubs invitation...

Boko Haram kills 11 in Yobe, takes over...

Nigerian Air Force to start oxygen production

APC a poor photocopy of PDP —Scholar •Queries...

Oil Spill: Shell reports progress in clean-up of...

Lamido: Buhari has failed due to lack of...

Probe reveals N30b oil revenue ‘hidden’ by NNPC...

 

Latest News Obi not on Twitter — Aide •Dismisses purported ‘lifeless’ tweet 2019 election: Group to mobilise 10 million votes for Atiku Fayose: Sacked DSS boss Daura lobbied me twice to support Buhari Fire for fire as Atiku, Buhari spokespersons attack each other 2019: Southeast solidly behind the choice of Peter Obi as Atiku’s running mate — Ohanaeze youths How Gov. Okowa is advancing democratic dividend through enterprise development in Delta Kachikwu conniving with PDP to kill APC in Delta — Group writes Buhari Why I attended OBJ-Atiku reconciliation meeting — Fr. Kukah Ex-minister, 4 others reappear in court over alleged N229m money laundering 13 dead as flooding hits southwestern France Nigerian Content Development and Monitoring Board partners Dangote Refinery on local content implementation Lagos records 6.6 million voters

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (406,418 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (382,122 views) Shameless Genevieve Nnaji exposes breasts in public (314,490 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (256,356 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (237,195 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,186 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (203,928 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (185,411 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (169,946 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (165,793 views) Lagos plane crash: Journalist releases victims’ names (161,353 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,182 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (67) Business & Economy (3,680) Business Verdict (52) Columnists (945) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (559) Features (659) Global Business Monitor (304) International (2,530) Interview (165) Live Commentary (28) Love Matters (145) News (39,617) Opinion (1,122) Pidgin (13) Politics (7,222) Religion (880) Sports (1,730) Stock Watch (35) AMA & Al Jazeera Global Update

 

Zenith Zero Balance

NLNG Expression of Interest banner

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Fulham vs Arsenal 1-5 All Goals & Extended Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement