Justice

Akin  Kuponiyi

In the case, the managing Director of Obioma microfinance bank Chukwuemeka Emeri(MFB) alleged to have granted a loan, without adequate security or collateral, and one.

Akponsibruke OCHUKO of block d1, plot 607, of 1004 estate Victoria island Lagos has been adjourned till 11th of March,2025 for continuation of trial.

Akponsibruke Ochuko between 4th August 2011 while being the owner of the first call & investor into Obioma Micro Finance Bank  holding significant interest therein made an irregular withdrawal in the sum of N328,150.000(Three hundred Twenty-eight million one hundred and fifty thousand Naira and Chukwuemeka Emeri who was Managing Director of Obioma Microfinance bank without adequate security contrary to the accepted practice contravene section 15(1)(a) of the failed banks(Recovery of debts and financial Malpractices in bank Act

In an amended four-count charge filed before the court by  the Director of Public Prosecution of the Federation M. B. Abubakar

It was  alleged that:

Chukwuemeka Emeri, while being the managing director of Obioma microfinance bank. (MFB) at Lagos within the jurisdiction of the honourable court, having been appointed by Mr Ochuko Akposibruke owner of first call & investor into Obioma MFB holding significant interest to take charge of the day-to-day running and management of the bank, but used the position on the instruction as the managing director with emails and handwriting instructions to divert the sum of N328,150,000.00 (Three hundred Twenty eight million one hundred and fifty thousand Naira only) to first call option marketing limited without adequate security, contrary to the accepted practice and thereby committed an offence contrary to Section 20(2) (a) of the Bank and other financial institution Act(BOFIA)CAP F2 Laws of the Federation of Nigeria 2004 and Punishable under Section 18(2) of the same Act.