FASANMI JCA (Delivering the Lead Judgment): This is an appeal against the judgment of the Failed Banks (Recovery of Debts and Financial Malpractices in Banks) Tribunal, Ibadan Zone Oyo State in charge no. FBT/IB/CR/2/98 delivered on 27 May 1999. Appellant was charged and convicted in absentia on four counts including the one of stealing contrary to section 390 of the Criminal Code and punishable under subsection 7 of the said Criminal Code.
The facts are that the appellant was the ManagingDirector of Majestic Securities Limited. He was alleged to have committed a number of offences whichled tohis prosecution before the Failed BanksTribunal onthe following charges:
Count 1
“That you Moses Adebayo Omuya Ochu (M) (now at large and outside Nigeria) between January 1992 and 30 December 1996 at Lagos while being the Managing Director/Chief Executive Officer ofMajestic Securitieslimited failed to comply with the conditions of licence granted by the Central Bank of Nigeria on 2 June 1993, to M…