One of the charges read: “That you, Ugenyi Kalu, sometime in November 2016 in Lagos, while serving in a bank, received a monetary benefit of ₦4,000,000 from one Obi Ogoh in connection with a loan granted to an Agro Mills by your Bank. This act is contrary to Section 8(1)(a) of the Corrupt Practices and Other Related Offences Act, 2000, and is punishable under Section 8(1)(b)ii of the same law.”
The case proceeded to a full trial, despite pleading not guilty. The prosecution, led by G.C. Ofulue, presented six witnesses, including two former colleagues of Kalu from his bank, who testified against him.
Justice Oshodi on February 12, ruled that the prosecution had proven its case beyond a reasonable doubt, convicting Kalu on four counts.
“The defendant is convicted on four of the charges and sentenced to four years and two months imprisonment or a fine of ₦20,850,000,” Justice Oshodi declared.