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ECOBANK NIGERIA LIMITED V. FEDERAL REPUBLIC OF NIGERIA

(2021) JELR 106876 (CA)

Court of Appeal  •  CA/C/131C/2019  •  12 Feb 2021  •  Nigeria

Coram
MOJEED ADEKUNLE OWOADE, JCA JAMES SHEHU ABIRIYI, JCA MUHAMMED LAWAL SHUAIBU, JCA

Judgement

MUHAMMED LAWAL SHUAIBU, J.C.A. (Delivering the Leading Judgment): This appeal is against the judgment of the Federal High Court sitting in Uyo, delivered on 26/3/2018, whereby the appellant was convicted for stealing and failure to require proof of identity and update of customer and thus sentenced to a fine of ₦5,000.000 and a restitution order of ₦56,781,682.55k.

The appellant along with five others were arraigned before the lower Court on sundry offences. Specifically, the appellant and four others were charged in counts 16,17 and 20 of the charge for conspiracy to steal and stealing under Section 1 (1) (d) of the Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act Cap. 33 Laws of the Federation of Nigeria. for failure to require proof of the identity and update of customer under Sections 15 (2) (b) (ii) and 18 (1) of the Money Laundering (Prohibition) Act, 2004.

​The appellant pleaded not guilty to all the three counts of charge and the case proceeded to trial i…

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