A businessman, Chukwuemeka Ekwunife has been sentenced by a special Offences Court sitting in Ikeja, Lagos to 60 years imprisonment.
Presiding judge, Justice Sherifat Solebo sentenced Ekwunife over a fraud of N184,098,000.
The prosecutor of the Economic and Financial Crimes Commission, Emeka Okeogwu, on February 19, 2018, arraigned Ekwunife alongside his company on an amended eight counts bordering on stealing by fraudulent conversion, contrary to sections 278(1)(b), (2)(f) and 285(1) of the Criminal Code Law of Lagos State of Nigeria 2011.
Justice Solebo found the defendant guilty on counts one to six and sentenced him to 10 years on each count to run concurrently.
She ordered his company be wound up and following the allocutus of the defence, he was given an option of a fine of N50m.
Justice Solebo said, “It is obvious that many fraudulent activities are being perpetrated by some individuals who are extremely greedy and using the guise of oil subsidy on imported fuel to defraud the country, and also tarnishing the image of Nigeria abroad. The loss and gains will remain where they are.”
