The Economic and Financial Crimes Commission (EFCC) yesterday arraigned two women, Nneka Okechukwu and Nkiru Celine Okoro, at a Lagos High Court for allegedly stealing and selling a dead man’s shares worth N119, 798,253.61. Okechukwu, former head of business development, Heritage Capital Markets Ltd, Lagos and Okoro, an ex-employee of C. N. Ukachukwu and Sons Ltd, appeared before Justice Oluwatoyin Taiwo. They are standing trial on a 19-count charge of conspiracy, fraud, stealing and forgery, contrary to Sections 9(b), 278 (1), 285 (1), 363(3)(b) and 409 of the Criminal Law of Lagos State, 2011. The prosecutor Miss Elizabeth Oyedotun, said the defendants committed the offences in 2013 in Lagos.
She alleged that they conspired and sold shares valued at N119, 798,253.61 “property of the estate of the late Cyril Ukachukwu, entrusted to you for the sole purpose of transmitting the said shares to C. N. Ukachukwu and Sons Limited and recover the unclaimed dividends that accrued on the shares.” The shares, she said, were stolen and sold in several tranches. Oyedotun added: “Sometime in 2013, the defendants dishonestly converted to their own use N63,028,785.32 million and N20,000,000 million, being proceeds of the sale of shares of blue chip companies, property of Ukachukwu. “In July 30, 2013, the defendants converted N33, 736,846 million to their own use being proceeds of sale of some units of shares of Nigerian Breweries (NB), property of the estate of the late Ukachukwu”.
Other shares from First Bank (N277, 000), UACN (140,789.59), United Bank for Africa (UBA) – N1, 453,657.75, Union Bank (N81, 186.04) and African Prudential Bank (N1, 079,988.91) were also allegedly converted by the duo. Okechukwu was also alleged to have “forged the Heritage Capital Markets Limited letter dated December 16, 2013 captioned “Renegotiated outstanding” addressed to the Executor/Justice P. C. Onumajulu (retd).” Okoro, was alleged to have on several dates in 2013 in Lagos, forged several C. N. Ukachukwu and Sons Ltd board resolutions purporting them to have been signed by the firm’s managing director, two directors and herself as company secretary. The defendants pleaded not guilty and Oyedotun urged the court to remand them in prison custody.But, their counsel, Kingsley Ngu, urged the court to grant them bail in liberal terms. Ngu, who supported his bail application with a five-paragraph affidavit, said the defendants had credible people to stand as their sureties. He urged the court to allow them enjoy the administrative bail given them by the EFCC. Justice Taiwo reserved ruling till Thursday following power outage.
Source: THE NATION
