Port Harcourt, Rivers State – On Wednesday, August 5, 2009, the Federal High Court in Port Harcourt absolved four Zenith Bank employees—Oropo Olakunle, Mohammed Bello-Koko, Chimezie Kanu, and John Ologundare—of all allegations of misconduct. Presiding over the case, Justice G.K. Olotu struck out the 19-count charges filed by the Economic and Financial Crimes Commission (EFCC) following a motion submitted by the defendants on May 11, 2009.
The EFCC had accused the individuals of engaging in unauthorized financial transactions involving the Rivers State Government, alleging the funds were linked to criminal proceeds. However, the court determined that these allegations were baseless. In her ruling, Justice Olotu fully acquitted the defendants, emphasizing that any complaints or further actions should be directed at Zenith Bank’s corporate headquarters rather than the employees, as they were merely acting on behalf of the institution.
The court also held that the defense counsel’s argument was valid, confirming that the Rivers State funds lodged in Zenith Bank were not derived from any criminal activity. Addressing the essential elements of the charges, Justice Olotu ruled, “If the essential elements of the offense are not stated in the charges, Section 151, particularly subsection (4), is violated, leaving no basis for prosecution or trial. Consequently, charges from Counts 8 to 19 are hereby quashed.” She cited Section 36(12) of the Constitution and relevant case law, including Ohwovoriole v. FRN (2003) 2 NWLR (Pt. 803) 176 at 208 and Abacha v. State (2002) 11 NWLR (Pt. 77) 437, where the Supreme Court stated, “If the facts in a deposition fail to establish a prima facie case, the indictment must be dismissed.”
Regarding the defense’s position that the charges were frivolous, vindictive, and an abuse of court process, Justice Olotu noted that the accused were being prosecuted in violation of an existing court order in Suit No. FHC/PH/CS/1235/2008 (A.G. Rivers State v. EFCC). This prior order restrained the EFCC from investigating or demanding further information from the listed banks, including Zenith Bank. The court reaffirmed that the order remains in effect and must be obeyed under Section 287(3) of the Constitution. Justice Olotu reiterated, “The Constitution is the supreme law of the land, superseding all other legislation, including the EFCC Act and the Police Act, which grant investigative and prosecutorial powers to the EFCC.” She relied on precedents such as Fasakin Foods v. Shosanya (2006) 10 NWLR (Pt. 989) 126, Phoenix Motors Ltd v. National Provident Fund Management Board (1993) 1 NWLR (Pt. 272) 718, and Amechi v. INEC (2007) 9 NWLR (Pt. 1040) 504 to underscore the primacy of the Constitution.
