NIGERIA (Abuja)-The former Chairman, House of Representatives Committee on Capital Market, Herman Hembe, was discharged and acquitted of charges of fraud and illegal conversion made against him and one other by the Economic and Financial Commission (EFCC).

The judgement was passed yesterday by the Court of Appeal, Abuja.  

He was accused by EFCC of converting about N600, 000 estacode given to him in October 2011 by the Securities and Exchange Commission (SEC) for a training programme in the Dominican Republic.

In a unanimous judgment Yesterday, the Court of Appeal upheld Hembe’s argument that the EFCC failed to establish a prima facie case against him to warrant being subjected to trial based on the charges preferred by the commission.

Justice Joseph Tine-Tur who delivered the lead judgment particularly held that what the EFCC did was not prosecution but persecution.

The judge held that the proof of evidence and the evidence given by the witnesses called by the EFCC did not establish a prima facie case against Hembe.

Justice Tine-Tur further held that the Abuja High Court, which granted leave to the EFCC to prosecute Hembe based on the charges preferred, erred and should not have granted such leave.

He described Hembe’s trial as a waste of precious judicial time.

Speaking further, the judge held that the appellant did not commit any offence known to law, but that at best, what transpired was an administrative oversight for which Hembe could have been asked to make a refund.

He consequently quashed the charges and discharged and acquitted him.

Hembe and his deputy, Chris Azubogu, were charged with alleged conversion of the estacodes given to them by the SEC to travel abroad for a conference.

They challenged their trial and made a no-case submission which the trial court refused, prompting Hembe to appeal to the Court of Appeal.