A Lagos High Court sitting in Ikeja has convicted a former Managing Director of defunct Finbank plc, Mr. Okey Nwosu, and three other directors of the bank for stealing and committing fraudulent deals running into about N18 billion.
A breaking news aired by Channels Television on Tuesday night, January 5, showed that Justice Lateefat Okunnu convicted the four for stealing over ₦18 billion from the now defunct bank
The news report show that the court headed by Justice Okunnu, a one- time deputy governor of Lagos state and wife of elder statesman, Chief Femi Okunnu(SAN) sentenced three of the convicts to a four-year jail term after ordering them to repay the 18 Billion Naira.
Established in 2006, Finbank ceased to exist after it merged with First City Monument Bank (FCMB) in a deal that was consummated on February 9, 2012 and effected in October that year.
Ironically, this is coming at the same time FCMB is also running into stormy crisis over its managing director, Adam Nuru’s alleged dirty illicit affairs with a subordinate staff of the bank and legal wife( Moyo Thomas) of one late Tunde Thomas.