Tuesday, May 16, 2017 12:08 am
The Court of Appeal sitting in Abuja on Monday upheld an appeal filed by the former Managing Director of Transcorp plc, Tom Iseghohi against the refusal of the no case submission he made on 32 counts criminal charge of money laundering instituted against him by the Economic and Financial Crimes Commission, EFCC.
Iseghohi was charged with the offence during his tenure as the Managing Director of Transcorp plc.
But Iseghohi had through his counsel; E.D. Onyeke appealed the ruling of the Federal High Court on the No Case Submission.
The Court of Appeal in setting aside the decision of the Federal High Court on Monday held that from the evidence adduced by the prosecution at the trial, there was no basis for the refusal of the No Case Submission.
The appellate Court ruled that no evidence was adduced to establish the offence of money laundering against Iseghohi and subsequently discharged and acquitted him of all 32 counts of N15 billion money laundering charge levelled against him.