The Economic and Financial Crimes Commission today, March 21, 2013 arraigned the duo of Mr. Innocent Ejike Ukosanya and Ekirere Sam Ukos, Managing Director and Risk Asset Manager, respectively of Peace Micro Finance Bank on a four count charge before the Federal High Court, Abuja for allegedly conspiring among themselves to grant credit facilities to the tune of N45million in contravention of the laid down procedures of the bank.

 The accused who were arraigned before Justice Elvis Chukwu pleaded not guilty to the charge.

One of the charges read, "that you Innocent Ejike Ukosanya being the Managing Director/CEO of Peace Microfinance Bank Limited, Wuse Abuja; Ekirere Sam Ukos being the manager, Credit and Risk Asset Management of Peace Microfinance Bank Limited Wuse Abuja, on the 7th August, 2009 in Abuja within the Abuja Judicial Division of the Federal High Court of Nigeria, approved the grant/facility of N25,000,000 (twenty-five million naira) to one Mrs. Rabi Ali, Managing Director, Rabmercy Nigeria Limited as Bank Guarantee in contravention of the laid down procedure of Peace Micro Finance Bank limited, Wuse Abuja, and thereby committed an offence punishable under Section 19(4) of the Failed Banks (Recovery of Debts) and Financial Malpractice in Banks Act No. 18 of 1994 Cap. F2 Laws of the Federation of Nigeria, 2004 and punishable under Section 16(1) (a) of the same Act."

Justice Chukwu granted bail to the accused persons in the sum of N20million and a surety in like sum. The surety must show proof of ownership of property within the jurisdiction of the court and, also evidence of tax payment for the last two years.

The case was adjourned to April 23, for trial.


Media & Publicity Unit

21st March, 2013