Pastors charged to court for operating an illegal bank

A Federal High Court sitting in Asaba Delta State of Nigeria has reserved judgment till 7 January, 2013 in the case of the pastor of a Pentecostal Church alleged to have been operating illegal banking.

The accused Pastor Glory Okeoghene Abrefera and his company Mustard Seed Micro Investment Limited were arraigned before the court sometime last year on a four-count criminal charge of carrying on banking business without a valid licence.

Also arraigned along side Pastor Abrefera is a Director of Mustard Seed Micro Investment Limited, Reverend Vincent Okpogo.

The Economic and Financial Crimes Commission’s prosecuting counsel, Barrister Gbolahan Latona, told the court that the offence of carrying on banking business without a valid license by Mustard Seed Micro Investment contracted sections 2 (2) and 49 (1) of the banks and other financial institution act, cap B 3 volume, 2, laws of the federation of Nigeria, 2004.

All the accused persons pleaded not guilty, consequently they were admitted to bail based on the application for bail made by their counsel Mr. C.O Omodan.

In prosecuting the accused persons, Mr. Latona called seven witnesses, comprises of two people who are among the depositors of the illegal bank.

Others are three EFCC operatives who investigated the case, Assistant Director of Banking Operations of Central Bank of Nigeria and an official of Corporate Affairs Commission from Abuja.

In their defence, the accused testified for themselves and called two other witnesses.

Last week after the counsel to the two parties adopted their written addresses, the presiding judge, Justice Ibrahim Buba adjourned till 7 January for judgement.

PM News

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