One of Nigeria’s new generation bank, Fidelity Bank Plc and three others, have challenged the jurisdiction of a Federal High Court in Lagos over a charge filed by the Attorney General of the Federation over an alleged conversion of approximately N19 billion, belonging to Woobs Resources Limited.
This issue came to light on Wednesday during the scheduled arraignment of the bank, some of its officials, and a subsidiary company.
The Federal Government had filed suit FHC/L/138C/2025, presenting eight counts of alleged conspiracy, conversion, obtaining by false pretenses, forgery, fraud, and money laundering against the defendants.
The Bank, its Managing Director and CEO, Dr. Nneka Onyeali-Ik, Victor Ukutt, and one Whoba Ugwunna Ogo (who is currently at large) were accused of conspiring between 2011 and 2023 to fraudulently convert a sum of about N19 billion from Woobs Resources Limited’s account with Fidelity Bank PLC.
The government claims this money was unlawfully obtained through theft and fraud.
The alleged offenses are said to violate sections of the Money Laundering (Prohibition) Act, 2011 (as amended).
On Wednesday, the prosecutor from the Attorney General’s office, Mrs. E.T.C. Emezina, appeared in court. Femi Falana, SAN, represented the 1st and 4th defendants, while Ayodele Akintunde, SAN, appeared for the 2nd and 3rd defendants.
The prosecutor informed the court that the arraignment was scheduled for that day, and that all but the 4th defendant had been served hearing notices.
The prosecutor requested a bench warrant for the 4th defendant, in accordance with Section 113 of the Administration of Criminal Justice Act, 2023.
However, Falana opposed this, arguing that the court lacked jurisdiction to entertain the charge, claiming the case was an abuse of court process.
He noted that the matter involved alleged theft from a company, which was already under consideration by the Court of Appeal.
Falana also pointed out that the 4th defendant, Whoba Ugwunna Ogo, was abroad for medical treatment and had not been served with the charge.
He asked the court to reject the request for a bench warrant due to the lack of proof of service.
Similarly, Akintunde, representing the 2nd and 3rd defendants, informed the court that his clients had filed applications challenging the jurisdiction of the court.
Justice Ambrose Lewis-Allagoa declined to issue a bench warrant, emphasizing that such a measure would only be appropriate for defendants who fail to appear after being served.
The judge adjourned the matter to March 27, 2025, for a hearing on the motion challenging the court’s jurisdiction.
The defendants have filed a motion under Section 305(1)(A) of the Administration of Criminal Justice Act, 2015, and Sections 6(A) & (B) and 295 of the Constitution, requesting that the court dismiss the charge due to lack of jurisdiction and abuse of process.
They also seek a stay of proceedings, pending the resolution of a dispute over the ownership of shares in Woobs Resources Limited, which is currently before the Court of Appeal in Suit No. CA/L/343/2020.
The defendants argue that the charges arose from a dispute over the ownership of shares in Woobs Resources Limited, stemming from a Joint Venture Agreement involving the 4th defendant and the nominal complainant, Mr. James Onyemenam. The issue of ownership was originally brought to the Federal High Court in 2011 in Suit No. FHC/L/CS/1232/2011.
The Federal Government has accused Fidelity Bank and Dr. Onyeali-Ikpe of failing to verify the identity of individuals conducting unauthorized transactions on Woobs Resources Limited’s account, despite receiving warnings in 2011. These actions allegedly aided Victor Ukutt, Whoba Ugwunna Ogo, and others in stealing N32 billion from the company’s account.
The defendants face charges under several sections of the Money Laundering (Prohibition) Act, the Advanced Fee Fraud and Other Related Offenses Act, and the Cybercrimes Prohibition Prevention Act, 2024.
