Justice Mojisola Dada of an Ikeja Special Offences Court has convicted Transport and Port Management System Ltd. (TPMS) for stealing 29 million Euros from the Nigerian Ports Authority (NPA).
The judge gave the order on Tuesday and imposed an N100 million fine on the company while delivering judgement on a suit filed by the Economic and Financial Crimes Commission (EFCC).
In 2019, EFCC arraigned the owner of Transport and Port Management System Ltd. the late Jean Codo, alongside the company on an eight-count charge bordering on stealing.
Although they had pleaded not guilty to the charges, EFCC argued that the theft violated Section 285(1) of the Criminal Law of Lagos State, 2011.
The commission, therefore, prayed to the court to convict the company.
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In her judgement, Justice Dada held that the prosecution effectively proved the charges and consequently, she convicted the company.
The judge ordered that the company pay the N100 million fine within seven days of the judgement, or it would be wound up and all its assets forfeited to the Federal Government of Nigeria.
She also ordered the company to restitute the sum of 17.6 million Euros to the NPA.
