Wonder Bank MD, wife gets N4m bail in Enugu

Forum 7 years ago

Wonder Bank MD, wife gets N4m bail in Enugu

The Economic and Finamcial Crimes Commission, EFCC, on Tuesday, finally arraigned thee Managing Director of Lets’ Partner with You, a wonder bank based in Enugu, Mr. Patrick Okike.

He was docked at a federal High Court sitting in Enugu alongside his wife and Director, Rosemary Nwokike.

The two accused persons were said to have been running an unlicensed saving and loans agency, through which they collected over N6 billion from their customers on agreement of paying them 30 percent interest every month.


However, few months down, they were unable to pay the interest let alone refund the deposited fund, prompting the EFCC to wade in.

The couple, who were earlier detained, have now been arraigned on a four count charge of conspiracy, stealing, conversion and illegal operation of a bank without license.

The prosecutor, Mr Harrison Ibekwute told court that the accused persons had in 2013, 2014, 2015 and 2016 issued advertisement inviting the public to deposit money with the bank without authorization.

He also said that the bank had been operating without a valid license.


Ibekwute said the offences committed by the accused contravened Bank and Other Financial Institution Act, Law of the Federation.

The defense counsel, Mr Orji Nwafor-Orizu pleaded with the court to grant his clients bail as charges against them were bailable, which the prosecutor did not oppose.

The presiding Judge, Justice Dugbo Oghoghorie granted the accused persons a N2 million bail each and two sureties in like sum.

She ordered that the surety must be a Civil Servant of not less than Grade Level 12, reside and own a landed property within the court’s jurisdiction.

Oghoghorie adjourned the matter till March 6, 2017 for trial.