CaseLaw
Egunjobi V. F.R.N (2012) CLR 12(m) (SC)
Judgement delivered on 14th December, 2012
Brief
Facts
TThe appellant was engaged as an officer of Nigeria-Arab Bank Limited on 10th April, 1989. He worked in various branches of the Bank and was posted from Daleko Branch, Isolo, Lagos to Broad Street Branch of the Bank as an Accountant in June, 1994. There, he met Samuel B. Apata, the 1st accused as the Manager. The 1st accused became Principal Manager in 1996. Otta Akhibi (3rd Accused) was the Managing Director of Axtro Films Limited (4th Accused) which was a customer of the Branch where it maintained a current account No. 3101164726. The 3rd accused's company (the 4th Accused) was by a letter dated 5th July, 1994 granted through the Bank a-Six Years Term Loan by the National Economic Reconstruction Fund (NERFUND). The loan was in the sum of $1,276,680.00 (One Million, Two Hundred and Seventy-Six Thousand, Six Hundred and Eighty United States Dollars Only) and =N=2,212,000.00 (Two Million, Two Hundred and Twelve Thousand Naira Only) which was for the importation and installation of machinery for the manufacture and production of the required plant and machinery.
The case of the prosecution was that the 1st accused and the appellant as the Branch Manager and Branch Accountant respectively, granted overdraft credit facilities to the tune of =N=45,341,466.3 5K to the 3rd accused's company, the 4th accused, which was unsecured and in breach of the rule and regulations contained in the Bank's Operation Manual as amended from time to time by the Head Office Circulars. The prosecution maintained that the cheque presented by the 3rd accused person in purported part payment of the said overdraft after much pressures was dishonoured for lack of funds.
The appellant in his defence admitted that the account in question was overdrawn through cheques signed by the 1st accused some of which were counter-signed by him while other officers of the Branch counter-signed the other cheques. He maintained that he had no power to grant overdraft on any account and that by counter-signing some of the cheques, he was merely doing so as part of his schedule of duties and in obedience to the instruction given to him by the 1st accused person. He maintained that some other cheques forming part of the withdrawal instruments were not counter-signed by him but by other officers who were not charged by the respondent. He admitted seeing the Bank's Operation Manual but denied knowledge of the Head Office Circulars which were directed to the Branch Manager.
At the conclusion of the trial, counsel on both sides submitted written addresses to the trial tribunal which in its reserved judgment delivered on 24th March, 1999 rejected the defence of the 1st accused and the appellant. It found them guilty on counts 1, 2, 7 and 9. Each of them was sentenced to 5 years imprisonment on counts 1, 7 and 9 with sentences to run concurrently and 3 years imprisonment in respect of count 2. Sentences were also dished out to the 3rd and 4th accused persons in abstentia.
The appellant herein felt dissatisfied and appealed to the court below which heard the appeal and handed out it's judgment on 26th April, 2001. It set aside the conviction and sentence of the appellant in counts 7 and 9 and affirmed the convictions on counts 1 and 2. The sentences passed on the appellant in counts 1 and 2 by the trial tribunal were reduced to a fine of =N=20,000.00 or six months term of imprisonment in count 1 and a fine of =N=50,000.00 or 18 months imprisonment in count 2. The fines were made cumulative and the prison terms, concurrent. The appellant was ordered to be released from prison having served over 18 months in prison custody.
The appellant still felt dissatisfied with the stance of the court below and appealed to this court.