COURT SETS MAY 12 TO HEAR APPLICATION PRIORITY IN N19BN FRAUD SUIT AGAINST BANK, OTHERS
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A Federal High Court in Lagos has scheduled May 12, 2025, to hear arguments on the priority of applications in a suit filed by the Attorney General of the Federation against a new-generation bank and three others over the alleged conversion of approximately N19 billion.
During Thursday’s proceedings, counsel for the first and fourth defendants, Femi Falana (SAN), informed the court that they had filed a preliminary objection and served it on the prosecution.
However, prosecution counsel Chelsasy Emezina objected, arguing that the preliminary objection was not yet ripe for hearing. She insisted that, according to the law, defendants must first be arraigned before any applications can be considered.
Citing legal precedents, including the decision in Onnoghen and Sections 221, 396(1), and 382(5) of the Administration of Criminal Justice Act, Emezina stated, “My Lord will not hear the motion until the defendants submit themselves to the authority of this court.”
Justice Ambrose Lewis-Allagoa cautioned the prosecutor, highlighting the distinction between challenging jurisdiction and questioning a defective charge. The judge then directed both parties to file their submissions on which application should be heard first.
The defendants in the suit include the bank, its Managing Director, Victor Ukutt, and Whoba Ugwunna Ogo, who is currently at large.
The Federal Government, in case number FHC/L/138C/2025, has filed eight counts of conspiracy, conversion, obtaining by false pretenses, forgery, fraud, and money laundering against the defendants.
The prosecution alleges that between 2011 and 2023, the defendants fraudulently converted approximately N19 billion from Woobs Resources Limited’s account with the bank, claiming the funds were unlawfully obtained through theft and fraud. The alleged offences violate sections of the Money Laundering (Prohibition) Act, 2011 (as amended).
On the last adjourned date, Emezina informed the court that the case was set for arraignment and that all defendants had been served with the charge and hearing notices, except the fourth defendant, Whoba Ugwunna Ogo. The prosecution requested a bench warrant for Ogo under Section 113 of the Administration of Criminal Justice Act, 2023.
Falana opposed the request, arguing that the court lacked jurisdiction and that the case constituted an abuse of the judicial process. He noted that the matter involved alleged theft from a company and was already under consideration by the Court of Appeal.
He further explained that the fourth defendant was abroad for medical treatment and had not been served.
The defendants have filed a motion under Section 305(1)(A) of the Administration of Criminal Justice Act, 2015, and Sections 6(A) & (B) and 295 of the Constitution, seeking the dismissal of the charges due to lack of jurisdiction and abuse of process.
Additionally, they requested a stay of proceedings pending the resolution of a dispute over the ownership of shares in Woobs Resources Limited, which is currently before the Court of Appeal in case CA/L/343/2020.
The defense argues that the charges stem from a shareholder dispute in Woobs Resources Limited, arising from a Joint Venture Agreement between the fourth defendant, Whoba Ugwunna Ogo, and the nominal complainant, Mr. James Onyemenam.
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