MAGNITUDE 5.5 EARTHQUAKE STRIKES EASTERN EGYPT. (PHOTO)

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 Magnitude 5.5 earthquake strikes eastern Egypt A magnitude 5.5 earthquake shook eastern Egypt early Monday, prompting authorities to activate response plans, although there were no immediate requests for emergency help. The tremors were felt across a wide area, waking residents across Cairo and reaching as far as El-Arish near Egypt's border with the Gaza Strip. The quake struck about 40 kilometres north of the city of Suez at 3:00 am (0000 GMT), according to Egypt's National Research Institute of Astronomy and Geophysics, which revised an earlier estimate of 5.2.
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APPEAL COURT AFFIRMS OKEY NWOSU'S CONVICTION.(PHOTO).#PRESS RELEASE

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Appeal Court Affirms Okey Nwosu’s Conviction

Attempt by the former managing director of the defunct FinBank Plc, Mr. Okey Nwosu and Dayo Famoroti to set aside their conviction by Justice Lateefa Okunnu of the Lagos High Court literally hit the rock today June 8, 2022 as the Court of Appeal sitting at Tafawa Balewa Square, Lagos upheld their conviction as well as the three years jail terms slammed on them.

However, the appellate court reduced the restitution order made from Eighteen Billion Naira to Ten Billion Naira on the grounds that the bank (FinBank Plc.) had recovered about Eight Billion Naira.

Justice Okunnu, had in January 2021 convicted and sentenced Okey Nwosu and Famoroti to three years imprisonment over N19.2 billion fraud.

The Economic and Financial Crimes Commission (EFCC) prosecuted Nwosu alongside Dayo Famoroti, Agnes Ebubedike and Danjuma Ocholi on a 26-count amended charge bordering on stealing and illegal conversion to the tune of N19.2 billion.

The defendants were said to have perpetrated the fraud while they were directors of the bank.

 

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