Court adjourns Ibru's case again

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Cecilia Ibru

The Federal High Court, Lagos, on Monday adjourned further hearing on the corruption charges filed against the former Managing Director, Oceanic Bank, Cecilia Ibru till October 4.

The Economic and Financial Crimes Commission (EFCC) had, in August 2009, filed a 25-count charge against Mrs Ibru for allegedly granting "unsecured and unapproved loans" without adequate collaterals.

The commission alleged that the accused granted about N100 million to some companies in which she had interest.

At the resumed hearing of the case on Monday, Taiwo Osipitan (SAN), the accused counsel told the court that he had served his written address on the prosecution and the court.

"At the last adjournment, the court asked us to file our written addresses. We have done so and we are ready to adopt it," he said.

While counsel to the prosecution, Rotimi Jacobs, however, said that he was unable to file his written address and asked the court for a short adjournment to enable him to do so.

Ruling on the request for a short adjournment, Justice Dan Abutu has adjourned the case till October 4, which more than two months time for the adoption of the written addresses of both counsels.

Mrs Ibru had, on Thursday August 27, 2009 turned herself in to the Economic and Financial Commission custody four days after she was declared wanted alongside Erastus Akingbola of Intercontinental Bank, who is still at large. The commission declared the duo wanted on charges of fraud, stock manipulation, and money laundering.

Earlier this year, case took another twist when the commission announced the seizure of Mrs Ibru's property in Nigeria and Dubai.

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