The Court of Appeal, Lagos Division, has upheld the judgment of Justice Kudirat Jose of the Lagos State High Court, which sentenced two officials of Keystone Bank, Anayo Nwosu and Olajide Oshodi, to five years imprisonment over N855 million fraud.
The court, in a unanimous judgment delivered by Justice Folasade Ayodeji Ojo, dismissed the separate appeals filed by Nwosu and Oshodi against their conviction for lacking in merit.
The judgment was endorsed by two other members of the panel, Justices Olukayode Bada and Paul Bassi.
The appellate court resolved the three issues formulated for determination in favour of the Economic and Financial Crimes Commission (EFCC).
Justice Jose had, on December 9, 2019, sentenced Nwosu and Oshodi to five years imprisonment on an amended 15-count charge of conspiracy and obtaining money by false pretence brought against them by the EFCC.
The Judge had sentenced them to five years imprisonment, each on counts 1, 3, 4, 7, 9, 10 and 13 of stealing.
Justice Jose had also convicted an Indian businessman, Ashok Israni, his company, NULEC Industries Limited, and Keystone Bank Limited, in her judgment.
The company and the bank were ordered to pay a fine of N20 million to the Federal Government on counts one, 10 and 13.
But dissatisfied with the lower court’s verdict, the duo had approached the upper court, arguing that their right to a fair hearing was breached because the charge was further amended after the close of evidence.
They also argued that the lower court went outside its jurisdiction by exceeding the maximum punishment prescribed by Section 390 of the Lagos State Criminal Code Law, Cap.17, Vol. 2, Laws of Lagos State under which they were charged.
The appellants also contended that the entire transactions leading to their conviction were purely civil and between third parties different from them.
But the EFCC, through its counsel, Rotimi Jacobs, argued that appellants did not challenge the Further Amended Charge during the trial and that the Criminal Code Law of Lagos State permits the court to sentence a convict up to five years imprisonment if the thing stolen is worth N1,000.
