Two men, Joshua Jude Asemota and Churchill Godwin Amaechi have been arraigned before Justice M. I. Sani of the Federal High Court, Uyo Akwa Ibom State for operating a wonder bank without license.
They were brought before the judge by the Uyo zonal office of the Economic and Financial Crimes Commission EFCC, on Wednesday March 21, 2018.
They were arraigned on a thirty count charge bordering on obtaining by false pretence and operating a financial institution without license.The offence contravenes Section 8 (a) and 1 (1)(a) of the Advanced Fee Fraud and Other Frauds Related Offences Act of 2006, and punishable under Section 1 ( 3 ) of the same Act and section 56 of the Banks and Other Financial Institutions Act of 1991. The duo was arraigned along with their company Global Divine Rich Resources which was not registered to operate as a financial institution.
The defendants pleaded not guilty to the charge preferred against them by the EFCC. In view of their plea, the prosecuting counsel Nwandu k. Ukoha prayed the court to fix a date for trial and remand the accused persons in prison custody.
But the defence counsel, Ndude Otong immediately urged the court to grant the accused persons bail on the grounds that bail was a constitutional right and that the offence was bailable.
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