On Thursday, Lagos business tycoon, Mrs Oluremi Ebun-Phillips, found relief as the Court of Appeal in Lagos overturned her conviction and prison sentence that was given by the Lagos State High Court in December 2024. This was in connection with allegations of theft and issuing dud cheques totalling N57.69 million involving AYM Shafa Limited.
The appellate court, in a unanimous ruling from a trio of judges led by Hon. Justice Yargata Nimpar, criticised the Economic and Financial Crimes Commission (EFCC) for allegedly treating a matter it saw as a civil disagreement between the parties as a criminal offence.
The court annulled the previous ruling made by Justice I.O. Ijelu of the Lagos State High Court, Ikeja, which had found Mrs. Phillips guilty and sentenced her to two years in prison due to the contested cheque matter.
Delivering the ruling through a virtual session, Justice Nimpar stated that AYM Shafa Limited failed to adhere to the necessary legal protocols related to cheque presentation before escalating the situation to court.
The appellate court indicated that the complainant made a mistake by submitting the cheque to the bank without giving the proper notice from the issuer, which the law mandates.
“The law stipulates that the presentation of such a cheque must be preceded by proper notification before being taken to the bank. The appeal is successful, and the conviction is therefore annulled,” Justice Nimpar declared.
This ruling absolves Mrs Oluremi Ebun-Phillips of any criminal responsibility associated with the case.
