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THE FEDERAL REPUBLIC OF NIGERIA & ANOR V. LORD CHIEF UDENSI IFEGWU

(2003) JELR 20643 (SC)

Supreme Court  •  SC.115/2002  •  23 May 2003  •  Nigeria

Coram
IDRIS LEGBO KUTIGI JSC; ALOYSIUS IYORGYER KATSINA-ALU JSC; SAMSON ODEMWINGIE UWAIFO JSC; EMMANUEL OLAYINKA AYOOLA JSC; NIKI TOBI JSC; DAHIRU MUSDAPHER JSC; DENNIS ONYEJIFE EDOZIE JSC;

Judgement

S. O. UWAIFO, JSC (Delivering the Leading Judgment): The respondent was one of six accused persons arraigned and tried before the Failed Banks Tribunal, Lagos. The charge contained ten counts although he was involved in only counts 1 and 10. On 19 March, 1996, the Tribunal presided over by Ope-Agbe, J. as Chairman convicted the respondent on the two counts and sentenced him to 5 years in prison in respect of count 1 and ₦100,000.00 fine or 3 years in prison in respect of count 10. He appealed to the Special Appeal Tribunal [Coram: Hon. Justice D. O. Coker (Chairman) and Chief (Mrs.) P. C Ajayi-Obe, SAN (member)]. On 29 May, 1997, the Special Appeal Tribunal allowed the appeal on sentence by substituting for each of counts 1 and 10, ₦100,000.00 fine or 2 years in prison. Thus the respondent came to the end of the road as far as the appellate process was concerned since under section 5 of the Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Decree No. 18 of 1994 whic…

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