Appeal Court Clears Man Jailed Over ₦12.4m Dredger Deal, Calls Dispute Civil Matter

The Court of Appeal in Lagos has acquitted Hilary Ogbobe and overturned his seven-year prison sentence over a ₦12.4 million dredger transaction. The court also cancelled a ₦10 million loss-of-profit award previously granted to the complainant. The appellate court held that the prosecution did not prove beyond reasonable doubt that Ogbobe obtained the money by false pretence or stole it. It noted that investigators did not verify his claim that the dredger was kept at a yard in Satellite Town, Lagos. The court found that the failed dredger purchase and later oil-business arrangement were contractual transactions. It ruled that failure to repay the money did not automatically make the matter a criminal offence, stating that civil remedies were the appropriate option.

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