JUST IN: Court acquits wife of ex-PPMC MD alleged of N3bn fraud


The judge also resolved the sole issue identified for determination – whether the prosecution proved the 22 counts against the defendants beyond reasonable doubt – against the prosecution.

On the alleged offence of money laundering, the judge held that the prosecution failed to prove the predicate offence by establishing that the funds allegedly laundered were proceeds of crimes or other unlawful acts.

On the claim that Blaid Construction unlawfully got contract from the PPMC, Justice Taiwo held that there was no evidence to show that Haruna Momoh (as the MD, PPMC) committed any offence when his wife’s firm got contract during his tenure.

The judge noted that the prosecution failed to show how Blaid Construction benefited from Mrs. Momoh’s husband’s alleged favouritism to the detriment of others.

He added that the prosecution also failed to show that Blaid Construction was not qualified to be awarded the contract for which it was paid over N200million and that the project contracted to it was not well executed.

Justice Taiwo further held that the prosecution failed to show that the transactions, where N10m was paid in tranches into the accounts of Blaid Construction and Blaid Farms were suspicious to support its allegation against StanbicIBTC.

He held that having not established that the funds deposited in StanbicIBTC were proceeds of crime or unlawful acts, it was wrong for the prosecution to accuse the bank of failing to report suspicious transaction when the deposits were within the threshold set by the Central Bank of Nigeria (CBN).

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