by Admin | Jul 21, 2017 | Blog |
Follow @NigeriaPI The Economic and Financial Crimes Commission (EFCC) has vowed to appeal Thursday’s acquittal of a former Governor of Adamawa, Bala Ngilari, by the Court of Appeal. The Court set aside the ruling of the state High Court which had earlier sentenced Ngilari to five years imprisonment. In a statement on Friday, spokesman of the commission, Wilson Uwujaren, described the ruling as “a travesty of justice’’. He said, “Pundits consider the decision of the Appellate Court, which was read by Justice Folashade Omoleye, as shocking, and the last thing needed by the current war against corruption being spearheaded President Muhammadu Buhari. “It is curious that Justice Omoleye, while delivering the ruling, alluded to the fact that Ngilari was not ‘a procurement entity’ and as such, a former governor could not be charged ‘as if he was an ordinary procurement officer’. “The commission has, therefore, resolved to appeal the ruling because the EFCC believes that the judgment is a travesty of...
by Admin | Jul 21, 2017 | Blog |
Follow @NigeriaPI A Federal High Court in Lagos yesterday ordered seven banks to remit to the Federal Government $793,200,000 (about N249,659,700,000.00) allegedly hidden with them in breach of the Treasury Single Account (TSA) policy. A vacation judge, Justice Chuka Obiozor, made the interim order following an ex parte application by the office of the Attorney-General of the Federation (AGF). The judge warned that the remittance order would be made permanent on August 8, unless cause was shown why it should not. The AGF, through his counsel, Prof. Yemi Akinseye-George (SAN), accused the commercial banks of illegally keeping the sums in their custody for “unknown government officials”. Justice Obiozor ordered the banks to remit the money to the designated Federal Government’s Asset Recovery dollars account domiciled with the Central Bank of Nigeria (CBN). The banks are United Bank for Africa (UBA), Diamond Bank Plc, Skye Bank Plc, First Bank Limited, Fidelity Bank Plc, Keystone Bank Limited and Sterling Bank Plc. According to court processes filed by Akinseye-George (SAN), $367.4m was hidden by three government agencies in UBA; $41m was kept in a National Petroleum Investment Management Services (NAPIMS) fixed deposit account with Skye Bank. The documents stated that $277.9m was in Diamond Bank, $18.9m in First Bank, $24.5m in Fidelity Bank, $17m in Keystone Bank, and $46.5m in Sterling Bank. The AGF’s application was supported by a 15-paragraph affidavit deposed to by a lawyer from Akinseye-George’s law firm, Vincent Adodo. Adodo averred that the banks colluded with Federal Government officials to hide the funds in breach of the TSA policy. The funds, he stated, were revenues, donations, transfers, refunds, grants,...
by Admin | Jul 21, 2017 | Blog |
Follow @NigeriaPI A clash between some members of the National Union of Road Transport Workers (NURTW) in Akure, Ondo State has left one person seriously injured. It was learned that the clash was a result of the leadership tussle between members of the union at the local branch of the popular Ilorin/Abuja/Benin motor park. The local branches have been enmeshed in a leadership crisis that has caused members to form two different parallel factions within the transport union of the state. A fight broke out when one of the aggrieved factions attempted to forcefully take over the motor park from the other faction led by one Kareem Adekunle, who controlled the Ifelodun unit branch. The incident was said to have caused pandemonium as various loyal members to the two factions, brandishing dangerous weapons, engaged in a free-for-all. Our correspondent reported that the fight started at around 5 p.m. on Wednesday and spread to the early hours of Thursday. The fracas had forced petty traders around the motor parks to hurriedly shut down their businesses in order not to be caught in the web of violence that spread to other local units in the state. Many civil servants, rushing to their various places of work in the early hours of the day, were scared as violence escalated. Members of the factions who spoke accused the new state chairman of the union, Jacob Adebo, also known as “Idajo,” of instigating the leadership crisis. They alleged that Mr. Adebo has been supporting one of the factions at the Abuja/Benin motor park to cause trouble. “After we held a rally round Akure Town...
by Admin | Jul 21, 2017 | Blog |
Follow @NigeriaPI A suspected credit card fraudster who allegedly masterminded the theft of 5,400 Canadian dollars from a catering entertainment outfit in Canada, has been arrested by the Economic and Financial Crimes Commission. Spokesman of the commission, Mr Wilson Uwujaren, who disclosed this in a statement on Friday, identified the suspect as 20-year-old Yusuf Balogun Alabi, a Lagos resident. Uwujaren said the bubble burst on Alabi after one Tony Adebero, a young Nigerian undergraduate of Thompson Rivers University in British Columbia, was arrested in Toronto, Canada, on charges of wire fraud. Uwujaren said, “The youngster, who was expecting to receive his tuition from his dad, Mr Oyewole Adebero, did not suspect fraud when his account was credited by his bank. “He, however, became worried when few days after, he got a call from his bank, TD Canada Trust Bank, asking for details of the person who made the transfer to his account, within 12 hours.” The distraught student was said to have immediately called his father, who in turn contacted a Bureau de Change operator, Kassim Ishola, to whom he gave the money for transfer to his son. The BDC operator reportedly mentioned one Idris Oni as the person he gave the money to transfer. Idris, in turn, mentioned Alabi, the arrested suspect as the man who effected the transfer. According to the EFCC spokesman, Alabi supplied the name, Bacon Jamie Cecil, as the person that actually wired the funds to Tony in Canada. Unfortunately for Tony, Bacon Jamie Cecil was discovered to be a fake name prompting his arrest in Canada. Uwujaren said the scam was brought to...
by Admin | Jul 21, 2017 | Blog |
Follow @NigeriaPI The Asset Management Corporation of Nigeria (AMCON) has taken possession of Gateway Portland Cement Ltd., factories over debt of nearly three billion naira. The corporation in a statement issued in Lagos on Friday, said that the possession followed an injunction against Gateway Portland Cement granted by the Federal High Court Abeokuta Division, Ogun State. The statement said that AMCON’s Receiver, Mr Charles Adeogun-Phillips had formally and successfully taken possession of Gateway Portland Cement factories and facilities located in Abeokuta and Mowe areas of Ogun State. It added that the debt had been a subject of litigation for some time now. The statement said the court in the ruling restrained Gateway Portland Cement and the promoters whether by themselves, their agents, privies, or whosoever howsoever from moving, into the firm. It also restrained them from withdrawing money from or with any bank or financial institutions that hitherto does business with the cement company excluding in Nigeria pending the hearing and determination of the suit to be filed by the applicants for recovery of its outstanding debts. The order also restrained the company and the promoters by themselves, their agents, servants and, or their privies from interfering with or otherwise obstructing or frustrating the receiver appointed by AMCON in performing his duties. It also directed the company and the promoters to deliver to the receiver appointed by AMCON all the charged assets of the company in their possession forthwith. AMCON in the statement maintained that there would be no rest for recalcitrant debtors of the corporation like in the case of the promoters of Gateway Portland Cement Ltd. The...
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