N240m Fraud: Court Upholds Senator’s Conviction, Orders His Arrest

The Court of Appeal in Calabar on Friday ordered the arrest of Senator Bassey Albert after revoking the bail term earlier granted him.

This is coming after the Court upheld the conviction of Akpan on money laundering charges by a Federal High Court in Uyo, Akwa Ibom State.

The Economic and Financial Crimes Commission, EFCC had arraigned Akpan, the then governorship candidate of the Young Progressive Party (YPP) on money laundering charges.

Akpan had allegedly received about N240 million as bribe from companies linked to one Olajide Omokore, a contractor.

The contractor executed a N3 billion contract for the Government of Akwa Ibom State whilst Senator Bassey was Commissioner for Finance and Chairman of the Inter-Ministerial Direct Labour Coordinating Committee.

The offence contravenes Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and is punishable under Section 15 (3) of the same Act.

On December 1, 2022, Justice Agatha Okeke found him guilty of seven-counts charges of money laundering preferred against him.

He was then sentenced to 42 years imprisonment, without an option of fine.

However, dissatisfied with the judgment, Akpan on December 29, 2022, approached a Vacation Court in Port Harcourt, Rivers State, presided over by Justice S. I. Mark of the Federal High Court and secured a post-conviction bail on health grounds.

Upon release from prison, Senator Akpan continued with his campaign to be governor of Akwa Ibom State and subsequently approached the appellate Court in Calabar, to set aside the judgment of Justice Okeke.

During today’s sitting, while arguing against the appeal, counsel to the EFCC, Ekele Iheanacho urged the court to uphold the judgment of the lower court.

He urged further that the court dismisses the appeal and revoke the said bail granted to Senator Bassey on the grounds that “the prosecution proved its case beyond reasonable doubt and the charge was validly filed”.

The three-man panel of the Appellate Court, led by Justice Raphael Chikwe Agbo, upheld the conviction of Senator Akpan but varied the sentence by granting the appellant an option of fine.

The court also affirmed that the appellant should restitute the sum of N240 million to the Federal Government through the EFCC.

Court also ordered that the said restitution shall not be a prerequisite for his release from the correctional facility and the Court finally revoked the bail and ordered for his arrest.