The court further dismissed entirely the 32-count criminal charge of money laundering filed against him by the Economic and Financial Crimes Commission (EFCC).The anti-graft commission had arraigned Isoghohi, the former Company Secretary, Mohammed Buba and Deputy General Manager, Mike Okoli, in 2009.
They were tried for fraud and money laundering in connection with the botched acquisition of the Nigerian Telecommunications (NITEL) by Transcorp.Trial began before Justice D.U. Okorowo and later transferred to Justice Evoh Chukwu.
Justice Chukwu in his ruling, dismissed the no-case argument, holding that the accused persons had cases to answer.But the Court of Appeal in setting aside the decision of the Federal High Court held that from the evidence adduced by the prosecution at the trial, there was no basis for the refusal of the no-case submission.
It ruled that no evidence was adduced to establish the offence of money laundering against Isoghohi and subsequently discharged and acquitted him of all 32 counts of N15 billion money laundering charge levelled against him.
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