{"id":32883,"date":"2019-07-01T13:25:19","date_gmt":"2019-07-01T12:25:19","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=32883"},"modified":"2019-07-01T13:25:19","modified_gmt":"2019-07-01T12:25:19","slug":"ex-chairman-fortune-international-bank-macpeple-loses-bid-to-stop-police-investigation","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/ex-chairman-fortune-international-bank-macpeple-loses-bid-to-stop-police-investigation\/","title":{"rendered":"Ex -Chairman Fortune International Bank Macpeple Loses Bid To Stop Police Investigation"},"content":{"rendered":"

\u00a0The coast is now clear for the Nigerian Police to resume the investigation Petition written\u00a0against the former Chairman of Fortune International bank Henry Adawari Macpeple by Nigeria Deposit Insurance Corporation NDIC, as a Federal high court sitting in Lagos south west Nigeria has dismissed the suit he filed against the Inspector General of Police and three others.<\/p>\n

\u00a0 \u00a0 The former Chairman of Fortune International bank Plc, Henry Adawari\u00a0 Macpeple and his company Suffolk Petroleum \u00a0services limited\u00a0 instituted N150billion suit against Nigeria Deposit Insurance Corporation NDIC Over N2.3billion debt alleged he was owing\u00a0<\/span><\/p>\n

Other defendants in the suit are Inspector General of Police, the Commissioner of Police Special Fraud unit and one Assistant commissioner of Police, Mike Opete.<\/p>\n

\u00a0 \u00a0 \u00a0In an affidavit sworn to by a legal practitioner Hakeem Babalola and filed before a Federal high court in Lagos south West Nigeria, by the law firm of A. N. Odebe, it was alleged that sometime in 1999 Suffolk petroleum services limited was awarded contract of US $42,175,274.00 for the procurement of jacket and facilities improvement, consequent upon which the company obtained N2.3billion from Fortune International bank .<\/p>\n

\n

\u00a0 \u00a0 \u00a0 In other to facilitate the effectual of other contracts awarded to the various companies in the Adamac group of companies in which Suffolk Petroleum services was one had applied for and obtain credit from several banks.\u00a0Adawari Macpepple did not play any role neither did he exert any influence in the procurement of\u00a0 the said loan, and there were no incident of insider abuse.<\/p>\n

However, the company was shocked when on 6th of June, 2004 a statement of account in its name leading to a closing balance of N5,529,370,896,20 was sent directly to the office of the Chairman \u00a0of the company. The company protested but on the 10th of August, 2014 when the company presumed the issue had been resolved, but was surprise to receive a letter from the bank claiming the sum of N9,329,621,471.29 the company protested and while they were preparing for the reconciliation exercise.<\/p>\n

Macpepple was surprised to receive from the Managing Director of the bank, Mr Fidelis Tilijie, another memo date 25th August, 2014 stating that given our present circumstances the financial statement in my opinion represents a fair assessment of the banks as presented by firm of accountant Akintola Williams.\u00a0The company received a letter dated 14th of September, 2004 stating the company\u2019s exposure \u00a0and indebtedness to the bank to be about\u00a0 N4billion.<\/p>\n

\u00a0 \u00a0 \u00a0 However, Mr Tilije on 2nd of December, 2004 wrote a petition to Economic and Financial Crime Commission (EFCC) in which he alleged that the indebtedness of the company to Fortune bank was N16,227,353,579.67.<\/p>\n

Thereafter, \u00a0after months of investigations, it was discovered that the bank charged excessive, arbitrary and onerous interest and other charges, charged of compound interest, carrying on of foreign exchange related transactions on the company\u2019s account without mandate, EFCC also discovered that shell was owing the company millions of dollars, while it was also discovered there was no insider abuse.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Consequently, the plaintiff urge the court to declare that the loan obtain by the company \u00a0was not obtained under \u00a0pretence and that all the loan obtain \u00a0by the bank has been fully\u00a0 \u00a0paid and the company is no longer indebted to NDIC.<\/p>\n

However, the Inspector General of police and the Commission of Police special fraud unit in a counter affidavit sworn to by one Inspector Adeola Ogunsanya whose team was directed to investigate the petition of Fortune International bank in liquidation against Henry MacPepple and related companies address to the Commissioner of Police special fraud unit dated 17th of November, 2016, averred that claims of the applicants are false and misleading as police is constitutionally positioned to receive complaints from members of the public including NDIC for investigation.<\/p>\n

In an affidavit sworn to by Inspector Ogunsanya and filed before the court by Police legal officer Barrister Azubuike Sylvester from Police Special Fraud unit, the deponent averred that, as soon as police received the petition, investigation commenced, and Henry Adawari MacPepple \u00a0among others were invited in order to also hear from the Applicants . MacPepple volunteered his statement and was offered police administrative bail but instead of him to report back with relevant information that will assist\u00a0the police in their investigation he ran to the court for protection from further investigation and possible prosecution in law court and fabricated lies against the police.<\/p>\n

Consequently, Mr Azubuike contended that granting the applicants application will jeopardize the interest of the defendants and occasioned a miscarriage of\u00a0 justice, as the case against the applicant under investigation is criminal in nature and is currently under investigation before this application from the applicants was filed.\u00a0Consequently, the defendants urged the court to dismiss the applicant\u2019s\u00a0application with cost as it was ill conceived, nefarious, unscrupulous and a calculated attempt to mislead the court.<\/p>\n

In a petition to the commissioner of Police Special fraud unit, by the NDIC, the depositor\u2019s guarantee agency alleged that HENRY Adawari MacPepple was the erstwhile Chairman board of directors of defunct FORTUNE INTERNATIONAL BANK PLC, a position he occupied from April ,1999 till closure of the bank on the 16th of January 2006 by the Central bank of Nigeria.<\/p>\n

During that time, several companies over which MacPepple had direct ownership or controlling shares transacted business with the bank at various times, NDIC alleged that Macpepple leverage on his position as board Chairman of the defunct Fortune International bank Plc as well as Managing Director\/chief executive officer of Suffolk petroleum services limited a member of the Adamac group of companies located at plot 20, East-West road rumuodara, Portharcourt south South Nigeria \u00a0obtained a loan facility in the \u00a0sum of N2.3billion from Fortune International\u00a0 bank without due process on the 1st of April, 2002 for Suffolk, Petroleum services limited, toward executing contract of procurement \u00a0and fabrication of KCDP jacket, but the loan facility was not used for the purpose it was advanced.\u00a0The facility was unsecured \u00a0by any form of valid or sufficient collateral at the time of approval by the bank.<\/p>\n

In the light of the above allegation, NDIC urge the Commissioner of Police special \u00a0fraud unit to use his good offices to conduct criminal investigation into the alleged fraudulent transactions.<\/p>\n<\/div>\n

\u00a0 \u00a0 \u00a0 In her judgement ,the Presiding Judge, Mojisola Olatoregun, after appraising the submission of the two parties said “This suit was filed on the 31st of March, 2017 challenging the propriety of the invitation on issues bordering on obtaining money under false pretence, violation on the Bank and other Financial institutions Act. (BOFIA)\u00a0 and whether the interrogation, investigation and harassment are not violations of BOFIA, the doctrine of lis\u00a0 pendent, Section 6(6)(a) and section 36(1) of the 1999 constitution.<\/div>\n
\u00a0 \u00a0 \u00a0 I have carefully examined all these against the facts disclosed in the affidavit in support of the originating summons.\u00a0 I found no urgency disclosed. I found no smell of danger disclosed. I found nothing to suggest that an irreparable mischief was to be let loose. I found no infringement of any right disclosed. On the contrary, or an invitation or interrogation to found out the truth without more cannot amount to a violation of any right under chapter 4 of the 1999 constitution as well as Sections 6(6)(a) and (b) of the same constitution.<\/div>\n
\u00a0 \u00a0 \u00a0Failure to give the requisite notice in the absence of any disclosure of bad faith on the part of NDIC is inimical to the case of the Plaintiffs against NDIC.<\/div>\n
\u00a0 \u00a0 When statue stipulates a\u00a0 condition precedent which as in Section 55(2) is\u00a0 mandatory, that provision must be complied with. Condition precedent merely puts the jurisdiction of the court in abeyance pending the fulfillment.\u00a0 Of\u00a0 of the stated condition. The name o<\/div>\n
\u00a0NDIC is struck out from this suit for want of jurisdiction<\/div>\n
\u00a0 \u00a0I have aligned section\u00a0 of the Police\u00a0 Act which states :The Police shall be employed for the prevention and detection of crime, that apprehension of offenders, the preservation of law and order, the protection of life and property and enforcement of laws and regulation with which they are directly charged and shall perform such duties within or without Nigeria as may be required by, or under the authority of\u00a0 the or any other Act and the fact disclosed in the affidavit of the plaintiffs and the defendants, to state that the Police has the constitutional duty to receive Petitions, invite parties and conducts interrogations. The suit is dismissed. There is no order as to cost.<\/div>\n<\/p>","protected":false},"excerpt":{"rendered":"

\u00a0The coast is now clear for the Nigerian Police to resume the investigation Petition written\u00a0against the former Chairman of Fortune International bank Henry Adawari Macpeple by Nigeria Deposit Insurance Corporation NDIC, as a Federal high court sitting in Lagos south west Nigeria has dismissed the suit he filed against the Inspector General of Police and three others.\u00a0<\/p>\n","protected":false},"author":6,"featured_media":24826,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[5761],"coauthors":[2391],"class_list":["post-32883","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-henry-adawari-macpeple"],"yoast_head":"\nEx -Chairman Fortune International Bank Macpeple Loses Bid To Stop Police Investigation - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/ex-chairman-fortune-international-bank-macpeple-loses-bid-to-stop-police-investigation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ex -Chairman Fortune International Bank Macpeple Loses Bid To Stop Police Investigation - National Wire\" \/>\n<meta property=\"og:description\" content=\"\u00a0The coast is now clear for the Nigerian Police to resume the investigation Petition written\u00a0against the former Chairman of Fortune International bank Henry Adawari Macpeple by Nigeria Deposit Insurance Corporation NDIC, as a Federal high court sitting in Lagos south west Nigeria has dismissed the suit he filed against the Inspector General of Police and three others.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/ex-chairman-fortune-international-bank-macpeple-loses-bid-to-stop-police-investigation\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-01T12:25:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/07\/court-hammer6.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"818\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ex-chairman-fortune-international-bank-macpeple-loses-bid-to-stop-police-investigation\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/07\/court-hammer6.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/07\/court-hammer6.jpg\",\"width\":1500,\"height\":818},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ex-chairman-fortune-international-bank-macpeple-loses-bid-to-stop-police-investigation\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/ex-chairman-fortune-international-bank-macpeple-loses-bid-to-stop-police-investigation\/\",\"name\":\"Ex -Chairman Fortune International Bank Macpeple Loses Bid To Stop Police Investigation - 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