By Chinyere Aruogu
Justice Atinuke Ipaye of the Lagos State High Court, Ikeja, has struck out the criminal charges by Economic and Financial Crimes Commission (EFCC) against former House of Representatives member, Nze Chidi Duru who is also the founder and promoter of First Guarantee Pension Limited (FGPL).
Justice Ipaye, on November 11, struck out the case following an application by EFCC to withdraw the criminal charges against the defendant, Duru.
Ipaye said: “Pursuant to the application to withdraw criminal charges, it is hereby ordered as follows: That the criminal charges in suit ID/2039c/2015 as disclosed in the information dated December 5, 2015, is hereby struck out without prejudice.”
The complainant had said the withdrawal was done in the interest of justice.
Acting on a petition, the EFCC had invited Duru, one of the Pension Fund Administrators; one O. O. Ojo, and a South African, Derrick Roper, representing Novare Holding Limited, for alleged diversion of millions of naira of FGPL.
He was further accused of diverting “N16 million, being part of the equity contribution of Novare Holding, a South African firm, to another business without following due process and obtaining board approval; collecting N20.5 million as ‘executive allowance’ without board approval and diversion of the company’s assets.”
Duru was detained and humiliated by the EFCC over the petition even as he repeatedly described the matter as sponsored by “persons of interest.”
But determined to have justice done to him and all, Duru petitioned the chairman of EFCC, Ibrahim Magu, and appealed for a review of the case.
After critical reexamination of the matter, the EFCC deposed to an affidavit deposed by its counsel, AO Fayanju who applied to the court to formally withdraw the criminal charge against Duru.