From Francis Iwuchukwu, Lagos
The Federal Government of Nigeria has instituted a suit of 21-counts charge of conspiracy and stealing of over N3 billion worth of properties belonging to the Daily Times of Nigeria Plc, against Folio Communications Ltd at Federal High Court in Lagos.
The promoters of Folio Communications are Fidelis Anosike, Noel Anosike, Nicholas Okoye and Gogo Kurubo.
The five suspects are expected to be arraigned before Justice Pat Ajoku on the September 27, 2010.
According to the charge sheet with the number FHC/L/274c/10, that signed by K. Ugwu, an Assistant Chief State Counsel on behalf of the Attorney-General and Minister of Justice, Folio Communications Ltd, Fidelis Anosike and Noel Anosike were said to have sometimes in June 2004 conspired among themselves to obtain about 140,252,900 shares units which comprised about 56% out of the total of 233,754,840 shares of Daily Times of Nigeria Plc valued at the sum of N750 million acquired from the Bureau of Public Enterprise(BPE) by false pretence and with representation of possessing the means to pay for the acquisition of same with fresh funds which they did not possess but with intent to defraud the Federal Government of Nigeria, acquired the said shares from BPE by mortgaging the assets and selling off properties of Daily Times of Nigeria Plc to realise the acquisition of the said shares.
The charge also accused them of stealing the sum of N500 million, property of the Daily Times of Nigeria Plc, being part of the proceeds from the sale of the company’s 60% stake in Naira properties Ltd, owners of Nigeria Stock Exchange building in Lagos.
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