Ex-Naicom Insurance Boss Sentenced To 15 Years Imprisonment Over N10.4m Fraud

Former Commissioner of the National Insurance Commission (NAICOM) Okechukwu Chukwulozie was sentenced on Thursday to 15 years imprisonment  over fraud to the tune of N10.4 million.
He was convicted at an Abuja High Court on 5 counts charge for using private interest to furnish his official residence and demanding for a percentage in a contract he awarded.
The Independent Corrupt Practices and Other Related Offences Commission(ICPC),in 2007 jointly charged Chukwulozie, his wife, Angela; and a former Deputy Commissioner in charge of Finance and Administration, Adedolapo Ogungbe to court the N10.4 million fraud without option of fine.

Delivering judgment, Justice Mudashiru Oniyangi, said that the court sentenced Chukwulozie to three years on each of the five counts he is convicted for and it will run concurrently.

Oniyangi, held that the ICPC had proved all the ingredients of Section 19 of the the ICPC Act against him.

“The ICPC has proved beyond reasonable doubt that a commissioner of NICON, Chukwulozie, demanded fifty per cent of fees paid to liquidators of Gateway Insurance Plc.

“Beyond reasonable doubt is the standard of evidence required to validate a criminal conviction. Generally the prosecution bears the burden of proof and is required to prove their case.

“The prosecution has presented to court evidence to support its charges against the convict.

“In this case, they have done so. The court hereby sentences you to three years each on each of the five counts level against you, which will run concurrently.

However, Justice Oniyangi held that the ICPC had failed to prove its case against the second (Angela) and third accused (Ogungbe) persons.

“The court discharges the second and third accused persons charged with aiding and abetting the crime.

February 01, 2014