Fidelity Bank Plc and three others have challenged the jurisdiction of a Federal High Court sitting in Lagos to hear a charge filed by the Attorney General of the Federation (AGF) against them on charges of alleged conversion of about N32 billion, belonging to a company, Woobs Resources Limited.
This was disclosed before Justice Ambrose Lewis-Allagoa on Wednesday at a scheduled arraignment of the bank, its chief executive officer and two other individuals.
The Federal Government had filed an eight-count charge of the alleged conspiracy, conversion, obtaining by false pretences, forgery, fraud, and money laundering against the defendants.
Listed as defendants are Fidelity Bank, its Managing Director and CEO, Dr. Nneka Onyeali-Ikpe, a legal practitioner, Victor Ukutt, and one Whoba Ugwunna Ogo (who is said to be currently at large).
In the charge, they were all accused of conspiring between 2011 and 2023 to convert a sum of about N32billion from Woobs Resources Limited’s account, a company whose account is domiciled with Fidelity Bank PLC,
The government claims this money was unlawfully obtained through theft and fraud.
The alleged offences are said to violate sections of the Money Laundering (Prohibition) Act, 2011 (as amended).
At the proceedings on Wednesday, the Attorney General’s office was represented by a public prosecutor, Mrs Chelsy Emezina, while the Senior Advocate of Nigeria, Femi Falana, represented the 1st and 4th defendants (Ukutt and Ogo). Fidelity Bank and its CEO were represented by another Senior Advocate of Nigeria, Ayodele Akintunde.
The prosecutor informed the court that the arraignment was scheduled for today and that all but the 4th defendant had been served hearing notices.
The prosecutor requested a bench warrant for the 4th defendant in accordance with Section 113 of the Administration of Criminal Justice Act, 2023.
However, Falana opposed this, arguing that the court lacked jurisdiction to entertain the charge, as it was an abuse of court process.
He noted that the matter involved alleged theft from a company, which was already under consideration by the Court of Appeal.
Falana also pointed out that the 4th defendant, Whoba Ugwunna Ogo, was abroad for medical treatment and had not been served with the charge.
He asked the court to reject the request for a bench warrant due to the lack of proof of service.
Akintunde, in a similar submission, told the judge that his clients had filed applications challenging the jurisdiction of the court to hear the suit.
After hearing from all parties, Justice Lewis-Allagoa declined to issue a bench warrant, emphasising that such a measure would only be appropriate for defendants who fail to appear after being served.
The judge adjourned the matter to March 27, 2025, to hear the applications challenging the court’s jurisdiction.
In the applications brought pursuant to Section 305(1)(A) of the Administration of Criminal Justice Act, 2015, and Sections 6(A) & (B) and 295 of the Constitution, the defendants are asking the court to dismiss the charge due to lack of jurisdiction and abuse of process.
They also seek a stay of proceedings, pending the resolution of a dispute over the ownership of shares in Woobs Resources Limited, which is currently before the Court of Appeal in Suit No. CA/L/343/2020.
The defendants argue that the charge arose from a dispute about the ownership of shares in Woobs Resources Limited, stemming from a Joint Venture Agreement involving the 4th defendant and the nominal complainant, Mr James Onyemenam. The issue of ownership was originally brought to the Federal High Court in 2011 in Suit No. FHC/L/CS/1232/2011.
The Federal Government has accused Fidelity Bank and Dr Onyeali-Ikpe of failing to verify the identity of individuals conducting unauthorised transactions on Woobs Resources Limited’s account despite receiving warnings in 2011. This action, according to the FG, allegedly aided Victor Ukutt, Whoba Ugwunna Ogo, and others in stealing N32 billion from the company’s account.
These offences are contrary to and punishable under several sections of the Money Laundering (Prohibition) Act, the Advanced Fee Fraud and Other Related Offenses Act, and the Cybercrimes Prohibition Prevention Act 2024.
