Lamorde Urged To Prosecute Jubrin Isah For Conspiracy Over Role In Afribank Fraud
SAN FRANCISCO, May 30, (THEWILL) – The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Lamorde has been urged to prosecute a former Executive Director of Afribank, Mr. Jubrin Isah, who the commission had initially charged as co-accused in the conspiracy and financial crime case against the former Directors of Afribank after it was bailed-out by the federal government.
Recall that Isah, who was initially indicted and listed as the 3rd accused person in the suit filed at the Federal High Court was suddenly removed as an accused in what many have described as one of the dirtiest underhand dealings of former EFCC Chairman, Mrs. Farida Waziri.
Isah was in charge of Investment Banking, covering Treasury, Financial Institution, Federal Public Sector, Private Banking, E-Solution and Corporate Support which meant he was central to key decisions taken by management including the fraud that brought the bank to its knees.
He was earlier arraigned alongside then Group Managing Director, Sebastian Adigwe, Bank Chairman, Mr. Osa Osunde, three (3) other Executive Directors - Isa Zailani, Chinedu Onyia, Henry Arogundade; Falcon Securities Ltd, and Peter Ololo before the Federal High Court, Lagos with Charge No. FHC/L/294/09.
However, in a petition addressed to Lamorde on behalf of two petitioners, FCT based lawyer, Mr. Kayode Ajulo has urged the new chairman “to review the decision of your predecessors, and ensure that the Suspect is brought to book for his liabilities in the financial malpractices and economic crimes.
“You are no doubt aware that it is now an established fact within and outside the shore of Nigeria that the bane of Nigeria under-development is as a result of economic crimes in public and private sectors,” Ajulo, who addressed a press conference after submitting the petition on Wednesday morning stated.
The full text of the petition reads:
28th May, 2012 Ref. No. KAC/CP/L/176/12
The Chairman,
Economic and Financial Crimes Commission,
Wuse II, Abuja.
Attn.: Ibrahim Lamorde, DCP
Sir,
PETITION ON BEHALF OF MR. GBOLAHAN PETERS AND AHMED IBRAHIM AGAINST FORMER EXECUTIVE DIRECTOR OF AFRIBANK, ALHAJI JUBRIN ISAH OF CONSPIRACY, FINANCIAL MALPRACTICES & ECONOMIC CRIMES.
REQUEST FOR PROSECUTION OF ALHAJI JUBRIN ISAH
We write as Solicitors to Mr. Gbolahan Peters and Alhaji Ahmed O. Ibrahim of Forum for Zero Tolerance to Financial Crimes, Abuja (hereafter referred to as your Petitioners) and wish to draw your attention to the criminal indictment against Mr. Jubrin Isah the erstwhile Executive Director of Afribank Nigeria Plc and the seemingly conspiracy by your Commission under the leadership of your predecessor to bringing him to justice.
Mr. Jubrin Isah, (herein after referred to as the Suspect) was the Executive Director of Afribank Nigeria Plc, who was disengaged through the dissolution of Executive Management team of some Banks in August, 2009, over financial malpractices and mismanagement of the Afribank Nigeria Plc.
Sequel to the dissolution, the Suspect was arrested and severally investigated subsequently upon which he was indicted and first arraigned with Sebastian Adigwe, Osa Osunde, Isa Zailani, Chinedu Onyia, Henry Arogundade, Falcon Securities Ltd, and Peter Ololo before the Federal High Court, Lagos with Charge No. FHC/L/294/09.
Moreover, in the Amended Charges filed of 13th April, 2010, the 33 amended count charges against the Suspect and others revealed that the Suspect and others mismanaged and thereby committed a financial crimes to the total tune of over 60 Billion contrary the Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act Cap. F2 Laws of the Federation of Nigeria, 2004, the Banks and Other Financial Institutions Act and the Investments & Securities Act.
The Suspect and his co-accused were also arraigned before the High Court of Lagos State, Ikeja in May 2011 with Charge No. 10/160C/2011
However, to the consternation of your Petitioners and in what can only be depicted as a scheme and official conspiracy, all the charges against the Suspect were dropped while the prosecution team turned him to prosecution witness without any justification.
We wish to note that your Petitioners’ apprehension is not unfounded as the followings justified their fear:
1. During the Suspect’s initial criminal trial at Federal High Court, Lagos, in 2009, the Suspect, though was charged as co-accused was never brought before the court but was busy campaigning to become Peoples Democratic Party flag bearer in Kogi State, while your Commission under the leadership of your predecessor, Mrs. Farida Waziri maintained that the Suspect is nowhere to be found.
2. The Suspect by the summary of the charges, facts and circumstances of his indictment was not only the Executive Director of AfriBank Nigeria Plc, but by his admission in his statement made to your Commission, was in charge of Investment Banking, covering Treasury, Financial Institution, Federal Public Sector, Private Banking, E-Solution and Corporate Support, thereby making him to played the leading role in the offences charged.
3. Instances abound in the trial where other accused have queried your Commission’s decision to make the Suspect, your witness instead a co-accused considering the enormity of his indictments.
4. All the transactions of the Banking and Financial malpractices which formed the indictments of the Suspect and others were well documented of which his indicted as the principal accused person and thereby made him being turned to prosecution witness defective.
5. The absence of the principal accused person in the trial as co-accused would spell doom for the prosecution of the charge.
Against this background, our extant brief is to ask you to use your good offices to review the decision of your predecessors, and ensure that the Suspect is brought to book for his liabilities in the financial malpractices and economic crimes.
You are no doubt aware that it is now an established fact within and outside the shore of Nigeria that the bane of Nigeria under-development is as a result of economic crimes in public and private sectors.
This fact is very compelling that it lead to the establishment of your Commission to effectively tackle and curb the trend.
No doubt, you are also aware that your Commission’s glooming public perception in fighting the economic crimes is not unconnected with your Commission’s wittingly and/or unwittingly insincerity and seemingly lack of will to prosecute those who have been apparently indicted like in the case of the suspect.
Your Petitioners cannot therefore allow this obvious inequality without it been addressed and it is in the circumstance of the foregoing that your petitioners in consideration of Section 24 of the Constitution of the Federal Republic of Nigeria 1999 (as amended) and other enabling laws in Nigeria request your quick review of the indictments and prosecution of Alhaji Jubrin Isah for the purpose of bringing him to book for financial malpractices and economic crimes perpetrated while serving as Executive Director of Afribank Nigeria Plc.
TAKE NOTICE that if by 7th June, 2012 no practical steps and demonstration of good faith to bring Alhaji Jubrin Isah to book is taken, we shall without further notice, set in motion, machinery of justice to compel you to do same.
It is our firm confidence that by your Commission’s claims that no one is above the law, you will not hesitate to investigate the above allegation and bring the culprit to book.
Thanks for your mutual belief in the supremacy of the rule of law.
Accept, please, the firm assurances of our highest regards.
Yours truly,
Pp: KAYODE AJULO & CO. CASTLE OF LAW.
Z. A. BABAH, ESQ. Ag. Head of Chambers
Omolola AWOLOLA, ESQ. Counsel
c.c.:
1. President of Federal Republic of Nigeria, Abuja;
2. Hon. Attorney-General of the Federation, Abuja;
3. Secretary to the Government of Federation, Abuja.