Court Strikes out N47.1bn Theft Charges against Akingbola

The Lagos Division of the Court of Appeal on Wednesday struck out the N47.1 billion theft charge filed against former Managing Director of the defunct Intercontinental Bank Plc, Mr. Erastus Akingbola, by the Economic and Financial Crimes Commission (EFCC).

Akingbola and his co-defendant, Bayo Dada, had challenged the ruling of Justice Lateef Lawal-Akapo of an Ikeja High Court on the issue of jurisdiction.

The appellate court in a unanimous decision allowed the appeal and held that the subject matter of the alleged offences relates to banking operations and operations of capital issues which fell under the jurisdiction of the Federal High Court.

The appellants (Akingbola and Bayo Dada) had through their lawyers, Chief Wole Olanipekun (SAN) and Professor Taiwo Osipitan (SAN), filed two separate applications to challenge the jurisdiction of the court to entertain the 22-count charge filed against them by the EFCC.

But, the trial court had in its ruling delivered on May 2, 2014 dismissed their applications and held that the charges preferred against Akingbola and co-defendant were within its competence and purview to determine.

Dissatisfied, Akingbola and Dada filed two separate appeals against the ruling and urged the appellate court to set it aside.

The appellate court in its lead judgment delivered by Justice Amina Augie adopted by other members of the panel; Justice Samuel Oseji and Justice Abimbola Obaseki-Adejumo, held that the lower court judge took a narrow view of the matter when he assumed jurisdiction on the matter.

Justice Augie held that the lower court judge made a grave mistake when he failed to abide by the decision of the appellate court on the case of Okey Nwosu vs. EFCC even when it was brought to his notice.

She noted that the appellate court had in Okey Nwosu’s case held that the Ikeja High Court, Lagos, where the charges were instituted against the defendants, had no jurisdiction over capital market-related issues.

The court stated that the refusal of the lower court to follow the principle of stare decisis is tantamount to judicial rascality and a call for anarchy adding ”it will encourage the lower court to take-up arms against the appellate court.’’

The court held that the subject matter of the alleged offences related to banking operations and capital market issues which is outside the purview of the Lagos High Court.

The court held the lower court failed in its duty as an unbiased umpire when it refused to study thoroughly the processes presented before it.

Justice Augie added that the lower court turned a blind-eye to the prove of evidence brought before it before delivering its ruling saying ‘’it is the duty of the court is to do substantial justice, a one-sided justice is no justice at all’.

Olanipekun, lead counsel to Akingbola, had in his submission urged the court allow the appeal and set aside the decision of the lower court.

He had argued that the trial judge erred in law in his assumption of jurisdiction over the charge filed before him in the face of the clear provision of Section 251 of the Constitution and Section 8(1) of the Federal High Court Act.

He submitted that Section 251 of the Constitution vests exclusive jurisdiction in the Federal High Court over the subject matter, stressing that Section 272(1) of the Constitution which provides for jurisdiction of the state High Court is subject to Section 251.

He further submitted that the lower court erred in law and came to a perverse decision in its interpretation and application of the word ‘’also’’ used in section 251(3) of the constitution.

He told the court that there was a similar charge involving Akingbola and the EFCC which is currently pending before the Federal High Court in Lagos.

He also argued that the main witnesses listed in the proof of evidence at the Federal High Court are the same witnesses also listed in the proof of evidence before this court.

Besides, Olanipekun argued that to him, the subject matter of the alleged offences relates to banking operations and operations of capital issues which fell under the jurisdiction of the Federal High Court.

Culled From Thisday Live