Court Sets May 12 for Hearing in Alleged N19 Billion Fraud Case
A Federal High Court in Lagos has scheduled May 12, 2025, to hear arguments on application priorities in a case filed by the Attorney General of the Federation against a new-generation bank and three others over the alleged misappropriation of N19 billion.
During the proceedings, defense counsel Femi Falana (SAN) argued that the court lacked jurisdiction and that the case was an abuse of the judicial process. He highlighted that the matter, involving alleged misappropriation of company funds, was already before the Court of Appeal. Additionally, he noted that the fourth defendant was abroad for medical treatment and had not been served.
The defendants 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 to dismiss the charges on jurisdictional grounds. They also requested a stay of proceedings pending the resolution of a share ownership dispute in Woobs Resources Limited, currently before the Court of Appeal in case CA/L/343/2020.
The defense contended that the case stemmed from a shareholder dispute involving a Joint Venture Agreement between the fourth defendant, Whoba Ugwunna Ogo, and the complainant, Mr. James Onyemenam.
However, prosecution counsel Chelsasy Emezina objected, stating that the preliminary objection was premature and that the law requires defendants to be arraigned before any applications can be heard. Citing legal precedents, she argued, “The motion cannot be entertained until the defendants submit to the court’s authority.”
Justice Ambrose Lewis-Allagoa clarified the distinction between jurisdictional challenges and defective charges, instructing both parties to file their submissions on which application should be addressed first.
The Federal Government, in case number FHC/L/138C/2025, has filed eight counts against the defendants, including conspiracy, conversion, forgery, fraud, and money laundering. The prosecution alleges that between 2011 and 2023, the defendants unlawfully converted N19 billion from Woobs Resources Limited’s account.
On the previous adjourned date, Emezina informed the court that all defendants, except Whoba Ugwunna Ogo, had been served. The prosecution has requested a bench warrant for Ogo under Section 113 of the Administration of Criminal Justice Act, 2023.
