Court grants Enugu wonder Bank MD, wife N2m bail

Justice Dugbo Oghoghorie of the Federal High Court sitting in Enugu, granted the owner of an Enugu based wonder bank :Let's Partner With You" Patrick Nwokike, his wife and director, Rosemary Nwokike N2 million bail, each. Oghoghorie adjourned the matter till March 6, 2017 for trial.

The two accused persons are couple that ran a micro finance bank in which they collected over N6 billion from their customers on agreement of paying them 30 percent interest on amount invested. Trouble started when the bank was unable to pay their customers the interest earlier agreed on and refused to pay back the money invested in the bank which made customers petition the Economic and Financial Crime Commission, EFCC. They were arraigned on a four count charge of conspiracy, stealing, conversion and illegal operation of a bank without license.

The prosecutor, Mr. Harison Ibekwute told the court that the accused had in 2013,2014,2015 and 2016 issued advertisement inviting the public to deposit money with the Bank without authorization. He also said that the Bank had been operating without a valid license. Ibekwute said the offense committed by the accused contravened Bank and other financial institutions Act, law of the federation.