A Port Harcourt Magistrate Court has said it lacks jurisdiction on the matter of advanced fee fraud brought before it against the former MD of Rivers State Micro Finance Agency, Dr. Ipalibo Sogules and three others.
The Magistrate Court which ordered that the defendants be arraigned at the Federal High Court, remanded the four of them in custody at the Swift Operation Squad Port Harcourt.
The Chief Magistrate, A.O Amadi Nna gave the ruling after listening to both argument by the two lawyers. He denied granting bail to the defendants since the court lacked the jurisdiction to try the matter.
Dr. Ipalibo Sogules, MD of the state Microfinance Agency and three other persons are standing trial on a two-count charge of conspiracy and advanced fee fraud of over N13 million. This was after they were sacked by the State Governor, Nyesom Wike.