N855m Fraud: EFCC Asks Court To Declare Pardon Granted Indian Businessman, 3 Others Illegal 

The Economic and Financial Crimes Commission, EFCC, on Thursday, asked the Appeal Court, Lagos Division to declare the pardon granted by the Lagos State Government to an Indian businessman, Ashok Israni and three others, illegal.

Recall that Israni, Anayo Nwosu and Olajide Oshodi (both officials of Keystone Bank) were on December 9, 2019 convicted by Justice Kudirat Jose of the Lagos State High Court sitting in Igbosere, Lagos.

Their conviction followed on an amended 15-count charge bordering on conspiracy and obtaining by false pretence to the tune of N855 million.

They were sentenced to five years imprisonment each for stealing while NULEC Industries Limited which belongs to Israni and Keystone Bank Limited were convicted accordingly.

The companies were also ordered to pay a fine of N20 million to the Federal Government on counts 1, 10 and 13.

The convicts were also ordered to return the sum of N395 million to the victim of the fraud.

But the convicts, in their separate appeals, approached the Appellate Court to challenge the judgement of the lower court.

According to the EFCC, four months after their conviction by the trial court, they were released from prison by officials of the Kirikiri Centre of the Nigerian Correctional Services, (NCoS).

At the hearing of the appeals by the Special Panel of the Appellate Court on Thursday, counsel to the EFCC, Rotimi Jacobs, SAN, submitted that several legal authorities frown on the pardon granted to the convicts whose rights of appeal have not been exhausted.

EFCC contended that the convicts were allegedly released on the directive of the Lagos State Government, contrary to the rules of court.

He urged the court to declare the purported pardon illegal, adding that appeals had been filed and entered since February 13, 2020.

Jacobs told the court that Nwosu following his pardon, went to the social media platforms, at different times, claiming that he was wrongly convicted, jailed and maltreated.  

The SAN urged the court to dismiss the appeal, and uphold the judgement of the lower court.

But counsel to the appellants, Chief Wole Olanipekun, SAN, and Biodun Owonikoko, SAN, in their brief of arguments, urged the court to allow the appeal, set aside the judgment of the lower court and acquit the appellants of all the charges filed against them.

Olanipekun told the court that the appellants had filed an affidavit of facts that contains the instrument of the pardon granted to them by the Lagos State government.

Justice Joseph Shagbaor Ikyegh, who led members of the Special Panel that included Justices  Ebiowei Tobi and  B. I. Gafai, reserved judgement to a later date.