CASE TITLE: SUIMING ELECTRICAL LTD v. FRN & ORS (2025) LPELR-80179(SC)
JUDGMENT DATE: 29TH JANUARY, 2025
PRACTICE AREA: CASE LAW
LEAD JUDGMENT: MOHAMMED LAWAL GARBA, J.C.A.
SUMMARY OF JUDGMENT:
INTRODUCTION:
This appeal borders on criminal law and procedure.
FACTS:
This appeal stemmed from the grievance of the Appellant with the decision of the Court of Appeal, Lagos Judicial Division wherein the Court overturned the decision of the Federal High Court, sitting at Lagos (trial Court) discharging and acquitting the Appellant, along with the 2nd and 3rd Respondents, who were jointly charged for the offences of money laundering, conspiracy and abetting money laundering, contrary to the provisions of Section 15(2) (d) and 18 (a) of the Money Laundering (Prohibition) Act (MLPA), 2011. In its place, the Court found the Appellant guilty of the alleged offences and sentenced it to winding-up and forfeiture of all its property to the Federal Government, pursuant to Section 22(2) of the Money Laundering (Prohibition) Act, 2011 (MLPA).
The case of the 1st Respondent, who was the prosecution at the trial Court, is that the 2nd Respondent, the alter ego of the Appellant and the 3rd Respondent, as well as the sole signatory to the Appellant’s account with Zenith Bank, while still serving as a Board Member of the Nigerian Import Export Bank (NEXIM Bank), had obtained a loan facility of the sum of N1,200,000,000.00 (One Billion, Two Hundred Million Naira) only on behalf of the Appellant for the purpose of acquiring additional machinery for use in the Appellant’s factory. However, the 2nd Respondent, contrary to the purport of the loan acquisition, transferred the sum of N322,000,000.00 (Three Hundred and Twenty-Two Million Naira) only being part of the loan sum to the Delta State Government as part payment for acquiring a property known as “Guinea House” situate at Marine Road, Apapa Lagos State, which had been put up for sale. The 1st Respondent had contended that this act of the 2nd Respondent in conjunction with the 2nd and 3rd Respondents, was fraudulent and contrary to the provisions of Section 15(2) (d) and 18 (a) of the Money Laundering (Prohibition) Act (MLPA), 2011.
The trial Court after considering the case of the parties held in favour of the Appellant and the 2nd and 3rd Respondents, discharging and acquitting them on all counts.
The Court of Appeal had however set aside the decision of the trial Court. In its stead, it found the Appellant, along with the 2nd and 3rd Respondents, guilty as charged and sentenced the 2nd Respondent to seven (7) years imprisonment, while the Appellant and the 3rd Respondent were ordered to be wound up.
The Appellant, 2nd Respondent and 3rd Respondent appealed individually and separately against this decision of the Court of Appeal. The appeal by the 2nd Respondent herein, id est Appeal No: SC/CR/900/2022 -Peter Nwaoboshi V. FRN & 2 Ors, had earlier been determined by this Court in a considered judgment.
ISSUES FOR DETERMINATION:
The Court adopted the issues as determined in the sister appeal with Appeal No: SC/CR/900/2022 -Peter Nwaoboshi v. FRN & 2 Ors.
DECISION/HELD:
In conclusion, the Court allowed the appeal.
RATIOS:
- CASE LAW- JUDICIAL PRECEDENT/STARE DECISIS: Application of the doctrine of stare decisis
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