A Federal High Court, Lagos, has strike out a criminal charge of stealing filed against a businessman, Sikiru Olawale Olayinka and his company, for lack of diligent prosecution.
Justice Akintayo Aluko, who presided over the court, struck out the one count charge, following a submission made by the businessman’s lawyer, Adegboyega Erinle.
Olayinka who is the Chief Executive Officer (CEO) of Excampo Nigeria Limited, was charged before the court alongside his company by the Police Special Fraud Unit (PSFU), Ikoyi, Lagos, sometimes in June 2022, on allegation of stealing the sum of $123, 000 USD, which was erroneously transferred into his account by Zenith Bank Plc and converted same to N45 million
He was alleged to have received the money via his company account No. 5070637886, domiciled in the bank.
The offence according to the prosecution was contrary to and punishable under Section 15(2)(b) of the Money Laundering (Prohibition) Act of 2011 (as amended) in 2012.
During the pendency of the charge, the businessman had consistently denied the allegation and while also present in court on each of adjourned dates.
At the resumed hearing of the matter on Tuesday, the businessman’s lawyer, Erinle, pleaded with the court to strike out the charge on the ground that the prosecution has not been able to present any witness in the matter, despite listing nine witnesses.
The lawyer also told the court that his client has demonstrated good faith in settling the matter with the nominal complainant, by paying back substantial amount.
Based on the above, the lawyer, after citing series of legal authorites, urged the court to strike out the charge and discharge his client of the allegation.
However, the prosecutor while pleaded with the court for one more adjournment, informed the court that some of the witnesses have to testify in the matter are no longer working at the branch where the incident occurred.
The prosecutor therefore prayed the court for one more adjournment to enable him present some witnesses at the next adjourned date.
In striking out the charge, Justice Aluko after perusing the court’s record, acceded to the businessman’s lawyer’s request and consequently struck out the charge for lack of diligent prosecution.
