CAC: Court remands former Mainstreet Bank MD

An Ikeja Special Offences Court, Lagos has revoked the bail of a former Managing Director of MainStreet Bank Registrar Limited, Chester Onyeamachi Ukandu who was earlier granted bail on an offence of forgery. Ukandu was arraigned by the Economic and Financial Crimes Commission, EFCC on March 19, 2018 on a three-count charge bordering on forgery and impersonation. Ukandu, who was docked alongside one Mr. Achi George, was alleged by the EFCC to have forged documents purportedly emanating from the Corporate Affairs Commission (C.A.C.)

Justice Olusola Williams however revoked Ukandu’s bail following an express breach in the bail conditions earlier granted him. According to the prosecuting Counsel, A.B.C Ozioko, who filed a motion on Notice dated January 15, 2019, the 1st defendant, Ukandu had breached some of the bail conditions by acting in a manner capable of jeopardizing the course of justice in the case. However, one of the bail conditions by the court included a strict warning to the defendants that the defendants should desist from holding themselves out as officers of the company and other correspondence in that regard, until the final determination of the suit or any other suits in the Federal High Court, pertaining to the ownership of the Mainstreet Bank Registrars Limited. Ozioko, while praying the court to revoke the Ukandu’s bail, said that instead of being sober and face the charges of conspiracy and forgery against him, the 1st defendant continued to write numerous petitions against the prosecution star witness in the matter, seeking to intimidate, harass and embarrass the witness. The prosecutor accused Ukandu of writing a petition to the Nigerian Bar Association (NBA) against a lawyer, who is also a witness in the his matter, after he was granted bail. EFCC said Ukandu has taken active steps to interfere with the successful prosecution of the case against him since he was granted bail and urged the court revoke his bail. The court thereafter noted that the defendant acted in a manner capable of jeopardizing the course of justice in the case. Ruling on the application, Justice Williams held that once the court grants a bail to an accused person; it ought not in law revoke such bail, unless there is evidence of some changed circumstances placed before it. “Unfortunately for the 1st defendant, there was ample evidence of changed circumstances, adding that the defendant has been restless. “it appears that the defendant would rather take matters into his own hands instead of leaving the court to determine the suit expeditiously. “I am persuaded that he should be placed in custody so that he does not continue to muddy the waters and disturb the progress of this case. Accordingly, the bail granted to the 1st defendant is hereby revoked”, Justice Williams ruled. The EFCC alleged that sometime between February 6 and 7, 2012, the two defendants conspired and forged the letter head paper of Mainstreet Bank Registrars Limited, with registration number: 613674, claiming that it emanated from Mainstreet Bank’s Registrars Limited. The commission accused the duo of forging a Corporate Affairs Commission (CAC) Form 2A, claiming that it emanated from CAC. The two defendants, who had retired from the company, were alleged to have unlawfully converted the company’s properties and bank account with Skye Bank for personal use.


Source: Tribune