Emeka Ekwunife, a businessman, was given a 10-year prison term on Thursday by the Lagos State Special Offenses Court in Ikeja.
This came after he was charged with eight counts of theft by fraudulent conversion by the Economic and Financial Crimes Commission (EFCC).
In court since 2016, the case is titled “Federal Republic of Nigeria Vs. Chukwuemeka Ekwunife & Structured Energy Limited”
The businessman was found guilty on six counts by the presiding court, Justice S. Solebo, and given a sentence of 10 years in prison with the possibility of N50 million fine.
Ekwunife had already been remanded in detention for allegedly stealing N434.1 million.
The EFCC claims that on November 19, 2013, the businessman converted N99.6 million from Napal Oil and Gas Services Limited to his personal use through his company, Structured Energy Ltd.
Ekwunife also changed N85 million and N3 million in Nepal Oil and Gas ltd. property to his personal use between June 4, 2015, and October 28, 2013.
Between November 4 and November 7, 2014, the defendant changed N3.5 million from Nepal Oil and Gas property to his personal use.
The commission added that on November 28, 2013, Ekwunife moved N130 million from his company to his personal use.
The commission further revealed that the defendant and his business stole N25 million, and that on June 24, 2015, they also took N88 million. The EFCC asserts that the offense was penalized in accordance with sections 285 (1) and 278 (b) of Nigerian criminal law.
Emeka Ekwunife, a businessman, was given a 10-year prison term on Thursday by the Lagos State Special Offenses Court in Ikeja.
This came after he was charged with eight counts of theft by fraudulent conversion by the Economic and Financial Crimes Commission (EFCC).
In court since 2016, the case is titled “Federal Republic of Nigeria Vs. Chukwuemeka Ekwunife & Structured Energy Limited”
The businessman was found guilty on six counts by the presiding court, Justice S. Solebo, and given a sentence of 10 years in prison with the possibility of N50 million fine.
Ekwunife had already been remanded in detention for allegedly stealing N434.1 million.
The EFCC claims that on November 19, 2013, the businessman converted N99.6 million from Napal Oil and Gas Services Limited to his personal use through his company, Structured Energy Ltd.
Ekwunife also changed N85 million and N3 million in Nepal Oil and Gas ltd. property to his personal use between June 4, 2015, and October 28, 2013.
Between November 4 and November 7, 2014, the defendant changed N3.5 million from Nepal Oil and Gas property to his personal use.
The commission added that on November 28, 2013, Ekwunife moved N130 million from his company to his personal use.
The commission further revealed that the defendant and his business stole N25 million, and that on June 24, 2015, they also took N88 million. The EFCC asserts that the offense was penalized in accordance with sections 285 (1) and 278 (b) of Nigerian criminal law.
