The Economic and Financial Crimes Commission, EFCC, has secured the conviction and sentencing of one Efe Egube, a former Bank Manager, to seven years imprisonment before Justice Atinuke Ipaye of the LagosState High Court sitting in Ikeja, Lagos.
The convict, who was a Branch Manager of the defunct Oceanic Bank, was
arraigned alongside his company, Ocean Energy Trading and Services
Limited, sometime in 2014 on a 19-count charge bordering on obtaining money by false pretence to the tune of N50, 049,000.00, an offence contrary to Section 1(1) and (3) of the Advance Fee Fraud and Other Related Offences Act No. 14of 2006.
Egube’s journey to prison began after the Commission received a petition dated February 6,
The petitioner alleged that between 2007 and 2008, the defendant used
his position as a Branch Manager to facilitate the granting of a
credit facility to the petitioner, which was disbursed in tranches.
The defendant was also said to have given the petitioner instruction
However, the petroleum products were never supplied to the petitioner
by the individuals and companies, thereby making it impossible for the petitioner to repay the loan when it became due.
He pleaded not guilty to the charge, thereby setting the stage for his trial.
In the course of the trial, the prosecution presented six witnesses and tendered several documents that were admitted in evidence by
Delivering her judgment, Justice Ipaye convicted and sentenced Egube
The sentences are to run concurrently from the day of conviction.
Justice Ipaye also gave a restitution order against the convict and his company “for the repayment forthwith of the total amount obtained by false pretence.”