A Federal Capital Territory, FCT, High Court in Maitama, Abuja, has dismissed the charges against a former Vice Chairman of the First Guarantee Pension Limited, Nze Duru, FGPL.
The Economic and Financial Crimes Commission, EFCC, had arraigned Duru before the Justice Peter Affen-led court on a four -count charge bordering on criminal breach of trust to the tune of N16.2m.
Duru was said to have been entrusted with the said sum being part payment of thirty percent equity shares of First Guarantee Pension Limited sold to Novare Holdings Proprietary Limited.
According to the petitioner, the accused, diverted the money to pay for land allocations from Lagos State Government in favour of Grand Towers Plc and MVJJDA Africa Limited, companies he allegedly have interest in.
At today’s resumed trial, the judge in his ruling on the Preliminary Objection filed by Counsel to Duru quashed and dismissed the four counts charge.
The judge ruled that the charges by the EFCC were an abuse of “Court Processes, vexatious, annoying and meant to embarrass Duru.”
Justice Afen held that charges were predicated, connected with and related with the Pencom Target Examination on First Guarantee Pension Limited which had been nullified, voided and vitiated by a court of Competent Jurisdiction.
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