tag:blogger.com,1999:blog-24250889126107395202024-03-19T01:47:57.081-07:00newsheadlines247 This is newsheadlines247....Trending News Headline Portal
(newsheadline247@gmail.com)newsheadline247http://www.blogger.com/profile/06809133131323511558noreply@blogger.comBlogger5125125tag:blogger.com,1999:blog-2425088912610739520.post-76233149855559757752024-03-06T00:43:00.000-08:002024-03-06T00:43:41.036-08:00Billionaire, Arthur Eze Accused Of Using Policemen, EFCC Operatives To Evict Another Late Brother’s Family, Onyeka Eze<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgFNdRDd3O_uBMouPQuM0HIZMkZyUhJWvXe-qA2VdWMT3L5vX41j0pEmo2roqa3OXiyxhD0Djls6VEnRysqvg8Pdw509Y4C0XTzj_t25M4gFbzC1SQZw9drB-oVgyCYHzl81TRtBAdFm5Z50xBjHTqsNTb0JRdvzd2e0pFtUoe0ic9WNXWSOkdThIwovZYs" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="299" data-original-width="400" height="239" src="https://blogger.googleusercontent.com/img/a/AVvXsEgFNdRDd3O_uBMouPQuM0HIZMkZyUhJWvXe-qA2VdWMT3L5vX41j0pEmo2roqa3OXiyxhD0Djls6VEnRysqvg8Pdw509Y4C0XTzj_t25M4gFbzC1SQZw9drB-oVgyCYHzl81TRtBAdFm5Z50xBjHTqsNTb0JRdvzd2e0pFtUoe0ic9WNXWSOkdThIwovZYs" width="320" /></a></div><br /><p></p><p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">A Nigerian billionaire, Arthur Eze, has allegedly forcefully
evicted another son of his brother, Prince Onyeka Eze and his family from their
house using the police to carry out the operation after claiming ownership of
the property.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">SaharaReporters gathered that Arthur stormed the property
located at No. 2 Victor Nwodo close GRA Enugu by Ubakwu street GRA ,Enugu State
alongside armed policemen and ordered Prince Onyeka and his family out without
allowing them to carry any of their properties while laying claim of ownership
to both house and everything inside.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Arthur claimed to be acting on the purported final forfeiture
order secured by the Economic and Financial Crimes Commission ( EFCC) from the
Federal High Court.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Meanwhile the execution was illegally carried out since
notice of appeal and motion for stay was served on the parties involved and the
matter is still pending at the Supreme Court.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">But the Federal High Court Enugu through the Deputy Chief
Registrar, Ekperobe Femi in a letter dated 31st March 2023 addressed to
Onyeka’s lawyer, Gabriel Onovo, confirmed the Notice of Appeal and Motion for
Stay filed by the lawyer.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The letter which was a response to the request by Prince
Onyeka’s lawyer requesting for the confirmation of writs of execution in
respect of judgement in Suit No FHC/EN/CS/83/2021 Economic and Financial Crimes
Commission V Olisaebuka Okwuchukwu Eze & Anor and Suit No.
FHC/EN/CS/84/2021 Economic and Financial Crimes Commission V Onyeka Nnadozie
Eze & Anor the court.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The letter read in part “ In summary, the execution was
carried out by the Registry of the Federal High Court In company of men of the
Police Force Enugu Command on 29th March, 2023”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Recall that Arthur in November 2020 dragged his two nephews,
Olisaebuka Okwuchukwu Eze and Prince Onyeka Eze before a Federal Capital
Territory High Court and Federal High Court after he accused them of
fraudulently diverting his fund for private gratification.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">It was gathered that Arthur personally invaded the premises
of Onyeka’s house with armed policemen who forced their way into the building
through the fence and threw out the occupants and their properties.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">In a CCTV exclusively obtained by SaharaReporters Arthur was
seen when he got out of his car and ordered the policemen to enter the premises
via fence and ejected the family.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">He also supervised the policemen when he ordered them to
collect rent from the tenants occupying some of the properties belonging to
Olisa and Onyeka in both Enugu and Abuja.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Arthur had in a letter he personally signed threatened the
tenants with police when he asked them to discontinue paying rent to Prince
Olisa and Prince Onyeka telling that he has taken the ownership of the
properties citing an order of final forfeiture made by the Federal High Court,
Enugu Division in Suit No. FHC/EN/CS/83/21 (EFCC V. OLISÄEBUKA OKWUCHUKWU EZE
& ANOR).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The letter read in part “ In view of the above therefore, the
status quo is that I am in physical possession of the properties by virtue of
the execution of the Order of final forfeiture of the Federal High Court; I am
therefore your Landlord and not Prince Olisa Eze.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“It is equally pertinent for you to know that Prince Olisa
Okwuchukwu and Prince Önyeka Nnadozie Eze are presently standing trial over a
criminal charge at the FCT High Court Abuja and Federal High Court preferred
against them which Arthur is using EFCC to prosecute.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“Recall that I had already held a meeting with all the
tenants in the property subject of this letter, in which I benevolently waived
off twenty percent off each tenant’s rent. It will therefore be in your best
interest to maintain that cordiality.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“In that regard therefore, I hereby give you notice to pay
your due rent by raising a draft in my name(Prince Arthur Ikpechukwu Eze) after
which you should promptly submit your proof of payment to the chambers of my
Solicitors (OLI & PARTNERS), at No. 3A Onoh Crescent, CRA, Enugu.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“Take further notice that your strict adherence to, and
compliance with the foregoing instructions will determine your continued
tenancy in the property”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">A source under the condition of anonymity said, “Prince
Arthur Ikpechukwu Eze, What a shame that you want to start collecting rent from
your nephew, Prince Olisa Eze’s tenants. Does it mean that Arthur Eze can’t
sustain himself without rent?”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The billionaire had recently raised an alarm when he
petitioned Enugu State Police Command accusing his nephew,Prince Olisa of
planning with some people to kidnap and assassinate him with others.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The police who are also doing his bidding declared Prince
Olisa wanted and in the process arrested some persons over the allegation. The
case was charged to court but was later thrown out for lack of evidence while
those arrested were discharged.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">A source who spoke to SaharaReporters said the billionaire
had continued to victimize and frustrate his nephews despite the olive branch
of forgiveness and reconciliation he extended to them during their later
grandfather’s memorial service held 24 December,2023 at St Mary’s Anglican
Church ,in Ukpo, Oranto village, Anambra.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">SaharaReporters had on September 2, 2022, reported how Arthur
led some armed policemen and evicted Prince Olisa and his family from their
residence located at No. 5 Ifeanyi Ararume Street, Mabushi Abuja with the claim
of taking the possession of the property.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Meanwhile a letter from FCT High Court denied the illegality
and insisted that Prince Olisa Eze & family was never evicted by the court.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">– Source: SaharaReporters<o:p></o:p></span></p>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-25789217515571363182024-02-05T02:39:00.000-08:002024-02-05T02:39:47.166-08:00Uncovered! How Ex-Bank Of Industry MD Olukayode Pitan Was Arrested, Detained<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgJ8ZKnjUPBZWDPTie3_toOF5MLo9-4zUGdkCSyLJuBbGY_QV2e-7Qe2GCwdtOdzH7ZMBwvoGdX4cHyvHToSUNJSQIehu1dTq7AwzTNZmO3g4xa1kUbnD-8xV4KgHnJZNhqDHN2X2K_CQxvq2pSbI1hBQCnBbvVOtRaK63RpKRJ5qcnRew3AgpUh5wb/s680/How-Olukayode-Pitan-Was-Arrested-Detained-680x365.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="365" data-original-width="680" height="211" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgJ8ZKnjUPBZWDPTie3_toOF5MLo9-4zUGdkCSyLJuBbGY_QV2e-7Qe2GCwdtOdzH7ZMBwvoGdX4cHyvHToSUNJSQIehu1dTq7AwzTNZmO3g4xa1kUbnD-8xV4KgHnJZNhqDHN2X2K_CQxvq2pSbI1hBQCnBbvVOtRaK63RpKRJ5qcnRew3AgpUh5wb/w383-h211/How-Olukayode-Pitan-Was-Arrested-Detained-680x365.jpg" width="383" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">On 19 October 2023, the presidency announced
the appointment of Olasupo Olusi as the new managing director and
chief executive officer of the Bank of Industry (BOI). <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">In that announcement, presidential spokesperson Ajuri Ngelale
said Mr Olusi’s appointment followed the voluntary resignation of his
predecessor, Olukayode Pitan.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Mr Pitan’s sudden departure surprised many clients of his
bank and some players in the nation’s financial sector, especially given that
his second term of five years only began on 27 May 2022. But because Mr Pitan’s
exit happened at a time when President Bola Tinubu was busy ousting appointees
put in place by his predecessor, some people speculated at the time that Mr
Tinubu possibly requested the BOI CEO to voluntarily step down so he (President
Tinubu) could put his own man in that position.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">There was no official disclosure or media report of any other
undercurrents that triggered Mr Pitan’s resignation.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">But more than three months after that episode, PREMIUM TIMES
can now, for the first time, report the circumstances that led to Mr Pitan’s
departure from the nation’s oldest, largest and most successful development
financing institution.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Our findings indicate that the drama culminating in the
banker’s exit from the bank began suddenly and unfolded quickly.
The Economic and Financial Crimes Commission (EFCC) had, around the
period, received intelligence alleging mismanagement of public funds by the
leadership of BOI, then led by Mr Pitan. After days of discreet investigations,
EFCC operatives moved against Mr Pitan on 16 October 2023. That day, he was
arrested in Lagos and flown to Abuja, where he was interrogated and detained.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The banker remained in detention until 18 October, when the
anti-graft agency granted him administrative bail. The following day, 19
October, the presidency announced Mr Pitan was resigning and that he was being
replaced by Mr Olusi, a former World Bank economist and development finance
expert.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Neither the government nor Mr Pitan disclosed that some
transactions during the banker’s leadership at the 60-year-old real sector
lender were being scrutinised by the EFCC and that, on that account, he had
either offered to resign or compelled to do so. In the press statement
announcing his resignation and appointment of a replacement, Mr Pitan was not
accused of any wrongdoing.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">More than three months after Mr Pitan was released on bail,
no charges have been brought against him, and the EFCC appears reluctant to
disclose details of the financial matters for which he is being investigated.
When contacted Tuesday, Dele Oyewale, the head of media and publicity at the
anti-corruption agency, promised to run a check and revert to this reporter on
the case status. He has yet to do so as of the time of filing this report. He
also has yet to respond to subsequent calls and text messages sent to him.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">However, those familiar with the matter said that while in
detention, Mr Pitan was questioned over BOI’s handling of a $750 million loan
the bank got in 2018 from foreign banks to support small and medium-sized
businesses across the country.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The loan was arranged by the African Export-Import Bank
(Afreximbank) and sourced from a syndicate of 16 lenders, including Afreximbank
itself, the ECOWAS Bank for Investment and Development, British Arab Commercial
Bank Plc and four Nigerian banks based in the UK. The facility was granted at a
single-digit interest rate for five to seven years.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The loan was arranged to enable the BOI to bridge the funding
gap for MSMEs, estimated at N700 billion, Mr Pitan told journalists during
Afreximbank’s 25th Anniversary and annual general meeting in Abuja in 2018. He
also said the facility was meant for companies operating in the creative
industry, manufacturing and gender-based businesses to help reduce the
unemployment rate in the country and create wealth for small and medium-scale
entrepreneurs. The Central Bank of Nigeria (CBN) guaranteed the loan, which was
disbursed to beneficiaries through commercial banks.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">]This publication learned that the EFCC is now scrutinising
the handling and disbursement of the loan following allegations of sharp
practices by some whistleblowers. The informants, our sources said, claimed that
rather than promptly disburse the fund to beneficiaries, some BOI officials
initially placed it in fixed deposit accounts and earned returns before passing
it to the CBN on maturity.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Our sources said about 130 private accounts linked to the
matter were being investigated. At the same time, Mr Pitan was also questioned
about the source of a certain N211 million traced to his Guaranty Trust Bank
(GTB) account.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">When PREMIUM TIMES contacted Mr Pitan this week, the banker
declined to provide details of his encounter with the EFCC and the issues that
led to his arrest and detention. He, however, denied any wrongdoing in handling
the $750 million loan. “All foreign proceeds into BOI are transferred to CBN,”
he said. “The proceeds of the $750 million were paid into CBN in full. CBN has
repaid Afreximbank in full as the loan has expired.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">When asked to respond to concerns on the loan management
under his watch, Mr Pitan said, “I want you to know I will never engage in the
type of activities false information peddlers who don’t mean well for me and
the bank are feeding you.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">In response to a question about a particular N211 million in
his account, the top banker said he was “a senior member of staff and eligible
to various facilities including mortgage loan etc.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">BOI’s Head of Corporate Communications, Hadiza Olaosebikan,
declined to comment for this story when contacted by PREMIUM TIMES. “I’m sorry
I can’t answer any questions,” she said by telephone.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">However, an official of the bank, who asked not to be named
because he is not a spokesperson for the organisation, told this reporter that
the $750 million loan was not mishandled in any way. “What happened was that
when Tinubu came, his people wanted to remove Pitan from office at all costs
and put their own man there,” he said. “So they came up with that allegation
and got the EFCC to harass Pitan out of office. The man was forced to resign
which is unfortunate.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">But Mr Pitan said he was not forced to step down. “Mr Pitan
resigned voluntarily from BOI,” he told this reporter. “His letter of
resignation was accepted. The official communication from FGN confirmed that.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The man Pitan Olukayode<br />
Mr Pitan was appointed managing director of BOI in May 2017 by former Vice
President Yemi Osinbajo, who acted as Nigeria’s president when then-President
Muhammadu Buhari vacationed in the UK. Mr Buhari reappointed him in March 2022
to serve a second tenure of five years.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Mr Pitan is an ordained pastor at the Redeemed Christian
Church of God (RCCG), in charge of Region 51 (Tabernacle of David) of the
church, headquartered in Ajah, Lagos.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">During a banking career spanning over 30 years, he was an
executive director at Unity Bank and an executive director at FSB International
Bank Plc.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">He was also chairperson of the Association of Nigerian
Development Finance Institutions and the director representing West Africa on
the Board of the Association of African Development Finance Institutions.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">– Source: PREMIUM TIMES<o:p></o:p></span></p>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-26353396540345661722024-01-04T13:44:00.000-08:002024-01-04T13:44:30.722-08:00EFCC raids BUA’s Lagos over alleged Forex deals with CBN<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgAKjszKoQ2eU2pGvfOL9o-jva1qfvzaWTw4Q0oakWardp7OZADMlNz0hRNl81frutWHaf1jGjzelSyQZn2xVbuAYDB9-qc6LpiVzdFlBQQYdWq3F-DpeKD-jhHvBytGcn56a2_0gJTmdvWOOqBZ_zrSVp9ybrdnqHpep2kYn_wDIgoG_JDwqlgiIn5" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="248" data-original-width="400" height="248" src="https://blogger.googleusercontent.com/img/a/AVvXsEgAKjszKoQ2eU2pGvfOL9o-jva1qfvzaWTw4Q0oakWardp7OZADMlNz0hRNl81frutWHaf1jGjzelSyQZn2xVbuAYDB9-qc6LpiVzdFlBQQYdWq3F-DpeKD-jhHvBytGcn56a2_0gJTmdvWOOqBZ_zrSVp9ybrdnqHpep2kYn_wDIgoG_JDwqlgiIn5=w400-h248" width="400" /></a></div><p></p><div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><p class="dropcapp3" style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Personnel of Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission, EFCC, have besieged the BUA Group head office located at PC 32, Churchgate Street, Victoria Island, Lagos State.</strong></p><div class="wp-block-image" style="box-sizing: border-box; margin-bottom: 21px;"><figure class="aligncenter size-large is-resized" style="box-sizing: border-box; clear: both; display: table; margin: 0px auto; text-align: center;"><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2020/05/efcc-newsheadline247-1.jpg" style="box-sizing: border-box; text-decoration-line: none;"><img alt="EFCC - newsheadline247.com" class="wp-image-22789 td-animation-stack-type1-2" decoding="async" height="162" sizes="(max-width: 300px) 100vw, 300px" src="https://newsheadline247.com/wp-content/uploads/2020/05/efcc-newsheadline247-1-300x162.jpg" srcset="https://newsheadline247.com/wp-content/uploads/2020/05/efcc-newsheadline247-1-300x162.jpg 300w, https://newsheadline247.com/wp-content/uploads/2020/05/efcc-newsheadline247-1.jpg 400w" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; vertical-align: bottom; width: 516px;" width="300" /></a><figcaption class="wp-element-caption" style="box-sizing: border-box; caption-side: bottom; color: #444444; display: table-caption; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 11px; font-style: italic; line-height: 17px; margin: 6px 0px 0px; text-align: left;">EFCC</figcaption></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">According to reports, the search by the anti-graft operatives in BUA office is still ongoing as of the time of filing this report.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">BUA Group is owned by billionaire businessman, Abdul Samad Rabiu.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">It had been reported that the EFCC is probing the foreign exchange allocations made to about 52 companies, including BUA Plc and Dangote Plc, during the tenure of the former Governor of the Central Bank of Nigeria, Godwin Emefiele</p><div class="td-a-rec td-a-rec-id-content_inline tdi_74 td_block_template_4" style="box-sizing: border-box; text-align: center; transform: translateZ(0px);"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 21px;"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; vertical-align: bottom; width: 695.99px;" /></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">It was gathered that the EFCC had written to the companies directing them to supply documents supporting the allocation and utilization of foreign currencies to them in the last 10 years.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The EFCC letter to the companies is part of ongoing investigation into alleged preferential Forex allocations to individuals and organisation.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Investigators had in the past months accused the CBN of favouring and enriching some individuals and companies through non-transparent allocation of foreign exchange to them.</p><div class="td-a-rec td-a-rec-id-content_bottom tdi_76 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center; transform: translateZ(0px);"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 21px;"><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="box-sizing: border-box; text-decoration-line: none;"><img alt="" class="wp-image-33038 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; vertical-align: bottom; width: 695.99px;" /></a></figure><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 21px;"><a class="https://www.fidelitybank.ng/digital-banking/fidelity-collections/paygateplus/virtual-account/" href="https://www.fidelitybank.ng/digital-banking/fidelity-collections/paygateplus/virtual-account/" rel="https://www.fidelitybank.ng/digital-banking/fidelity-collections/paygateplus/virtual-account/" style="box-sizing: border-box; text-decoration-line: none;" target="_blank"><img alt="" class="wp-image-43601 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2023/08/Fideity_ad_newsheadline247-1.png" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; vertical-align: bottom; width: 695.99px;" /></a></figure></div></div><p></p><footer style="box-sizing: border-box; clear: both; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600;"><div class="td-post-source-tags" style="box-sizing: border-box; font-size: 11px;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/?tag=abdulsamad-rabiu" style="border: 1px solid var(--td_grid_border_color, #ededed); box-sizing: border-box; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Abdulsamad Rabiu</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/?tag=bua" style="border: 1px solid var(--td_grid_border_color, #ededed); box-sizing: border-box; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">BUA</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/?tag=bua-group" style="border: 1px solid var(--td_grid_border_color, #ededed); box-sizing: border-box; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">BUA Group</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/?tag=efcc" style="border: 1px solid var(--td_grid_border_color, #ededed); box-sizing: border-box; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">EFCC</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/?tag=forex-deals" style="border: 1px solid var(--td_grid_border_color, #ededed); box-sizing: border-box; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Forex deals</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/?tag=newsheadline247" style="border: 1px solid var(--td_grid_border_color, #ededed); box-sizing: border-box; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li></ul></div></footer>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-60864609937845462512024-01-04T13:41:00.000-08:002024-01-04T13:41:43.758-08:00Tingo CEO, Dozy Mmobuosi Charged For Fraud In US<div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><div class="td-a-rec td-a-rec-id-content_top tdi_75 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center; transform: translateZ(0px);"><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhCy7pTBAqU2FMzLV5I7krxbIgK6rFOsOXjRdp_Jr_DKBVakzezD8VKPEvyA6xvvwv6hS8R4_kzdPhLtVLW1P0D3TwIoX9hcnr57gpPAEd_qYSbnvrn54obgxaOXPVTWV6ca8ReN9IGm-UzTfVAEPW7cGHJJu17DJrap4zOsps90x6GHhHaDNKK52XF" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="343" data-original-width="600" height="229" src="https://blogger.googleusercontent.com/img/a/AVvXsEhCy7pTBAqU2FMzLV5I7krxbIgK6rFOsOXjRdp_Jr_DKBVakzezD8VKPEvyA6xvvwv6hS8R4_kzdPhLtVLW1P0D3TwIoX9hcnr57gpPAEd_qYSbnvrn54obgxaOXPVTWV6ca8ReN9IGm-UzTfVAEPW7cGHJJu17DJrap4zOsps90x6GHhHaDNKK52XF=w400-h229" width="400" /></a></div><br /></div><p class="dropcapp3" style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">N<strong style="box-sizing: border-box;">igerian fintech businessman, Odogwu Mmobuosi, also known as Dozy Mmobuosi, has been charged with criminal offenses by the United States.</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">In an indictment made public on Tuesday, Mmobuosi, 45, the former co-chief executive officer of Tingo Group, was accused of conspiracy, securities fraud, and falsifying records with the US Securities and Exchange Commission (SEC).</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">According to the charge, Mmobuosi, was alleged to have falsely presented his Tingo mobile cellular business and Tingo foods agriculture business as profitable, generating hundreds of millions of dollars of revenue.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">He was alleged to have sold both businesses to Tingo Group and Agri-Fintech Holdings, caused them to falsely portray the businesses as “cash-rich, revenue-generating companies,” and looted millions of dollars by misappropriating cash and selling stock at inflated prices.</p><div class="td-a-rec td-a-rec-id-content_inline tdi_74 td_block_template_4" style="box-sizing: border-box; text-align: center; transform: translateZ(0px);"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 21px;"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; vertical-align: bottom; width: 695.99px;" /></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Prosecutors allege that the scheme occurred from 2019 to 2023.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">According to Reuters, Mmobuosi is said to be at large.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Mmobuosi temporarily stepped down as Tingo Group’s co-CEO on December 20, two days after the SEC filed civil charges accusing him of orchestrating a “staggering” fraud.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Mmobuosi allegedly stole at least $16 million from Tingo Group, according to the SEC.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The commission claimed that Mmobuosi attempted to purchase Sheffield United football club when it was in the lower Championship league, while purchasing luxury automobiles and embarking on private plane trips with the money.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The SEC complaint alleges that Tingo Mobile claims to provide mobile phones and associated services to farmers in Nigeria, while Tingo Foods is supposed to be a food processor. The lawsuit is titled U.S. v. Mmobuosi, and it will be heard in the Southern District of New York under case number 23-cr-00601.</p><div class="td-a-rec td-a-rec-id-content_bottom tdi_76 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center; transform: translateZ(0px);"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 21px;"><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="box-sizing: border-box; text-decoration-line: none;"><img alt="" class="wp-image-33038 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; vertical-align: bottom; width: 695.99px;" /></a></figure><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 21px;"><a class="https://www.fidelitybank.ng/digital-banking/fidelity-collections/paygateplus/virtual-account/" href="https://www.fidelitybank.ng/digital-banking/fidelity-collections/paygateplus/virtual-account/" rel="https://www.fidelitybank.ng/digital-banking/fidelity-collections/paygateplus/virtual-account/" style="box-sizing: border-box; text-decoration-line: none;" target="_blank"><img alt="" class="wp-image-43601 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2023/08/Fideity_ad_newsheadline247-1.png" style="border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; vertical-align: bottom; width: 695.99px;" /></a></figure></div></div><footer style="box-sizing: border-box; clear: both; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600;"><div class="td-post-source-tags" style="box-sizing: border-box; font-size: 11px;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/?tag=fraud" style="border: 1px solid var(--td_grid_border_color, #ededed); box-sizing: border-box; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Fraud</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/?tag=newsheadline247" style="border: 1px solid var(--td_grid_border_color, #ededed); box-sizing: border-box; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/?tag=odogwu-mmobuosi" style="border: 1px solid var(--td_grid_border_color, #ededed); box-sizing: border-box; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Odogwu Mmobuosi</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/?tag=tingo-group" style="border: 1px solid var(--td_grid_border_color, #ededed); box-sizing: border-box; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Tingo Group</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/?tag=tingo-mobile" style="border: 1px solid var(--td_grid_border_color, #ededed); box-sizing: border-box; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Tingo Mobile</a></li></ul></div></footer>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-72186878122348628532023-12-22T01:52:00.000-08:002023-12-22T01:52:06.667-08:00Monumental theft uncovered! How Emefiele, Others stole billions, kept Nigeria’s funds in foreign banks<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjElQB1PGan_Z1MMVcnrBhc5ldV5QRmijcamzNwz_YussOBtyYJaqe8pEfNzIoGm8rcduEQTB-G08wnEBtcPHScAtrEQlACDa9zt1fSI8IyGdV9X6eAilSwpRFRdF_y9z1M2Wo_pYjCadXfpnMgeIqDKWmIcq8fGYL2TPttcBYjsl9tl-S3uhAgP85L/s400/Godwin_Emefiele_newsheadline247.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="266" data-original-width="400" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjElQB1PGan_Z1MMVcnrBhc5ldV5QRmijcamzNwz_YussOBtyYJaqe8pEfNzIoGm8rcduEQTB-G08wnEBtcPHScAtrEQlACDa9zt1fSI8IyGdV9X6eAilSwpRFRdF_y9z1M2Wo_pYjCadXfpnMgeIqDKWmIcq8fGYL2TPttcBYjsl9tl-S3uhAgP85L/w400-h266/Godwin_Emefiele_newsheadline247.jpeg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><p></p><div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><h4 class="has-text-color" style="box-sizing: border-box; color: #5f6161; font-family: Roboto, sans-serif; font-size: 19px; font-weight: 400; line-height: 29px; margin: 24px 0px 14px;"><em style="box-sizing: border-box;">About N1.7 trillion spent on COVID-19 intervention management did not get to the right beneficiaries</em></h4><p class="has-drop-cap" style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">The Special Investigator who is investigating the Central Bank of Nigeria (CBN), Jim Obazee, has uncovered 593 bank accounts in the United States, United Kingdom, and China. These accounts were used by the CBN under the leadership of Godwin Emefiele to keep Nigerian funds without proper authorization from the Board and Investment Committee of the bank.</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">No fewer than 16 former government and CBN officials were alleged to have engaged in fraudulent use of ‘Ways and Means’ which stood at N26.627 trillion.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The former CBN Governor and others are to face trial following the revelation of the scandalous monumental theft that rocked the apex bank in the last one year.</p><div class="td-a-rec td-a-rec-id-content_inline tdi_78 td_block_template_4" style="box-sizing: border-box; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Those implicated include former and serving top officials of the apex bank.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Also, a former influential aide of former President Muhammadu Buhari may be arraigned with Emefiele. In September 2022, the aide had allegedly told Emefiele to proceed with the naira redesign.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The printing of the new notes cost N61.5 bilion out of which N31.79 billion has been paid. There were indications that the aide also sold a “dummy” to the former president.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The investigator also discovered how billions of naira were allegedly stolen by Emefiele and other officials from the CBN’s accounts including a “fraudulent cash withdrawal of $6.23 million” – about N2.9 billion at the then official exchange rate of N461 to a dollar.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">In the UK alone, the Special Investigator said his probe led him to 543.4 million Pounds kept by Emefiele in fixed deposit accounts. He also said Emefiele manipulated the Naira exchange rate and perpetrated fraud in the e-Naira project of the CBN.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Preliminary investigations into the activities of the CBN and related entities revealed many infractions, including the violation of the apex bank’s Act, alleged looting, diversion of funds and sidelining of the Board of Directors.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Other allegations were lack of presidential approval, extra budgetary spending, forgery, concealment, stealing, conspiracy and fraud.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Uncovering Unauthorised Investments</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Some documents available to The Nation, based on the report by the Office of Special Investigator, gave insights into how the rot in the CBN was perpetrated.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The Special Investigator on CBN and Related Entities, Mr. Jim Obazee, was appointed in July, 2023.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">He submitted an Interim Report on December 9, 2023.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Newsheadline247 understands that the final report was submitted to the President on the December 20. The investigations exposed what a source described as a “monumental scandal”</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">It was gathered that some documents contain some highlights of the first phase of the probe of accounts and operations of the CBN.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">It was also discovered that Emefiele invested public money (billions of dollars) in 593 accounts in the United States, China and the United Kingdom without authorisation.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">In the UK alone, Emefiele kept £543,482, 213 in fixed deposits without authorisation by the CBN Board and the Investment Committee.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Also, about N1.7 trillion spent on COVID 19 intervention management did not get to the right beneficiaries.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;"> “Ways and Means”</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">A major breakthrough in the probe of the CBN was the manipulation of “Ways and Means” by Emefiele and his team.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Investigations showed that the former CBN governor and those who worked with him could not produce evidence of “Ways and Means,” which now stands at N26.627trillion.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">It was found out that there were instances of arbitrariness where there was no presidential approval, but billions of Naira were taken out from the nation’s Consolidated Revenue Fund (CRF) account.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"> Some of the findings were as follows: “The CBN officers and even the then Acting CBN Governor could not produce the presidential approval of most of the expenses described as “Ways and Means”.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“When confronted to provide the breakdown of the supposed N22,719,703,774,306.90 that was presented to the 9th National Assembly to illegally securitise as “Ways and Means” financing, they were only able to partially explain a total of N9,063,286,720,318.92 or N9,258,040,720,318.92 (depending on which official you are considering his submission) and an unreasonable attribution of non-negotiated/unadvised interest element of N6,678,874,321,541.97. This shows the point where the officers of the immediate past administration as well the erstwhile CBN governor and others connived, defrauded and stole from the common wealth of the country with the aid of civil servants.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“The true position of the “Ways and Means” as documented from the reconciliation between the CBN and the Ministry of Finance at the time is N4, 449, 149, 411. 584.54. This may have been the main reason the past administration hurriedly sought that the advances of N22,719,703,774,306.90 be securitised by the 9th National Assembly on the 19th December 2022; which they also hurriedly did despite the fact that it contravenes Section 38 of the CBN Act, 2007.”</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“The probe showed that the CBN Governor on the 19th December 2022 “ signed an advice to the former President Muhammadu Buhari to restructure “Ways and Means” of N23,719,703,774,306.90, despite presenting a different figure to the National Assembly on the same date.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“The fact that the balance of the “Ways and Means” was documented as N26.63 trillion as at June 8, 2023 by the erstwhile CBN Governor shows an unrepentant attitude of the management of the CBN because they continued to carry the “Temporary Advances to the Federal Government” as a running current account, despite the obvious contravention of Section 38 of the CBN Act, 2007, which they swore to uphold,” the document said.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">The Fraud In Naira Redesign</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;"><em style="box-sizing: border-box;">“The printing cost was N61.5 billion, out of which N31.79 billion has been paid.”</em></strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Obazee, who worked with different teams of crack detectives, also uncovered the intrigues behind the naira redesign, which almost led to the collapse of the nation’s economy.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The outcome of the investigation confirmed that an ex-presidential aide gave the directive to Emefiele.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Section 19(1) of the CBN Act requires that “Naira notes and coins shall be of such forms and designs and bear such devises as shall be approved by the President on the recommendation of the Board of the CBN.”</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">It was unclear the circumstances under which the former presidential aide allegedly gave instructions to Emefiele.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">A document said: “The Naira Redesign was not approved by the Board of CBN and President Muhammadu Buhari in accordance with the law. Buhari only tagged along. Sometimes in September 2022, the erstwhile Governor of the CBN claimed that during his visit to the Presidential Villa, one of the presidential aides told him to go and consider redesigning the Naira.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“On 6th of October, 2022, Emefiele wrote Buhari seeking approval to redesign and reconfigure N1,000, N500, N200 and N100 notes. Buhari approved the proposal same day. But Buhari approved the currency be printed in Nigeria.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“On that 6th October 2022, former President Muhammadu Buhari approved Emefiele’s request and directed that he should redesign and reconfigure the four denominations of the Naira notes as prayed, but should print them locally.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Emefiele did not consult with the management of the CBN or seek any recommendation from the Board of the CBN as required by Section 19 of the CBN Act, 2007.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Emefiele did not seek the recommendation of the Board of the CBN nor revert to former President Muhammadu Buhari to inform him nor seek his presidential approval for the new redesigns and the fact that he is now recommending only three denominations</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Emefiele took the redesigns, a mere change of colour to De La Rue in UK for a fee of £205,000. Only N1, 000, N500 and N200 were redesigned.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“As at August 9, 2023, N769 billion of the new notes were in circulation. The printing cost was N61.5 billion, out of which N31.79 billion has been paid.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">In a separate document, the probe confirmed the investment of billions of dollars in 593 foreign accounts in the United States, China and the United Kingdom without approval from the board or the President.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“The former governor of the CBN invested Nigeria’s money without authorisation in 593 foreign accounts in the United States, China and the United Kingdom while he was in charge.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“All the accounts where the billions were lodged have all been traced by the investigator, In the UK alone, Emefiele kept £543,482, 213 in fixed deposits without authorization by the CBN board and the Investment Committee of the bank,” the document added</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Tracing COVID-19 Intervention Funds</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Another scandal which was unearthed was the inability to trace about N1.62 trillion COVID-19 intervention funds.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">It was discovered that “the N1,622,119,412,095.16 was surreptitiously transferred to the following individuals and organizations: Police Trust Fund(N29,750,000,000.00); Companies and individuals (N22,680, 275, 135.45); borrowed for salaries (N720, 682,827,000.00); Donations to public (N40,000,000,000.00); Office of Accountant-General of the Federation (N196, 190,789,994.72); MDAs (N303,514, 294,725.21); and others (N293,986, 243,831.39).</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Diversion of N17b by DMB</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">On the Nigeria Electricity Supply Industry (NESI), the former CBN Governor was accused of unlawful manipulation of the approval of the President.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Investigation indicated that 14 Deposit Money Banks (DMB) were involved in what is termed “criminal diversion of N17, 232,349, 193.55.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">But the list of the 14 banks was still kept under wraps as at press time.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">According to The Nation Newspaper, a source was quoted saying; “We have the list which includes some rated banks. But at the appropriate time, Nigerians will know them.”</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Two of the banks are to refund over N3 billion each.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The least amount to be refunded is N8, 902, 081 by a reputable bank.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Also a web management firm is to refund N4.8 billion, being the sum said to have been illegally diverted from NESI Stabilisation Strategy Limited.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Explaining what Emefiele did, the synopsis of the investigation on NESI was as follows: “The Presidential Approval granted by the then President Goodluck Jonathan was rightly stated by him that NESI should be a Company Limited by Guarantee, but the Committee of Governors misled the Board of the Central Bank of Nigeria by inter-alia:</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Relying on a non-existent advice by the Office of the Attorney General and Minister of Justice, to incorporate a Company Limited by Shares for which the Allotted Share Capital exceeded the Authorized Share Capital (See 380% Meeting of the Committee of Governors held in January 2015); and</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"> ”Allotting unauthorised share capital without lawful approval by the President of the Federal Republic of Nigeria.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Investigation also spotted illegal Issuance of Debentures by NESI Stabilisation Strategy Limited.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“There was misrepresentation of Presidential Approval (NESI Stabilisation Strategy Limited). NESI, as approved by former President Goodluck Jonathan, was supposed to be an SPV limited by Guarantee, but Emefiele, relying on a non-existent advice, made it a company limited by shares.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“By law, an SPV cannot issue Debentures, as it is precluded from forming a Debenture Trust. Worse still, a virgin entity without any operational track record cannot issue Debentures as it has no trading or earnings history to justify the requirements of the Debenture issue.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Despite these, the Committee of Governors of the Central Bank of Nigeria on the date of its Meeting of 21st January 2015, caused a violation of Section 31 of the CBN Act, 2007 by authorising the issuance of Debentures by NESI Stabilization Strategy Limited to which the initial sum of N64,861,954,000.00 (Sixty Four Billion, Eight Hundred and Sixty One Million, Nine Hundred and Fifty Four Thousand Only), was diverted from Public Funds under the guise of Debenture issuance. This practice has grown to N952,414,745,000 (Nine Hundred and Fifty Two Billion, Four Hundred and Fourteen Million, Seven Hundred and Forty Five Thousand Naira Only) by the Financial Year end 2021”, the document added.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“N1.325billion was stolen pre-incorporation and the money was funneled to four companies, including a legal firm which got N300 million.”</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The note on the allegations against some banks read: “A total of 14 DMBs engaged in the manipulation by unlawfully arranging and collecting 1.9535 percent of the total disbursements paid to the DMBs participating in the Nigerian Electricity Market Stabilisation facility.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“The fees are paid to the banks in the ratio of their contributions to the NEMSF disbursement, according to External Auditor’s Notes to the Financial] Statement of NESI Stabilisation Strategy Limited.”</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Also, a firm linked with some CBN officials was paid N4, 897,789,000 allegedly “illegally diverted from NESI Stabilisation Strategy Limited.”</p><figure class="wp-block-image" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%;" /></figure><div class="td-a-rec td-a-rec-id-content_bottom tdi_80 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"><img alt="" class="wp-image-33038 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 695.99px;" /></a></figure><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><a class="https://www.fidelitybank.ng/digital-banking/fidelity-collections/paygateplus/virtual-account/" href="https://www.fidelitybank.ng/digital-banking/fidelity-collections/paygateplus/virtual-account/" rel="https://www.fidelitybank.ng/digital-banking/fidelity-collections/paygateplus/virtual-account/" style="box-sizing: border-box; color: #4db2ec; outline: 0px;" target="_blank"></a><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2023/08/Fideity_ad_newsheadline247-1.png" style="box-sizing: border-box; color: #4db2ec; outline: 0px;"><img alt="" class="wp-image-43601 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2023/08/Fideity_ad_newsheadline247-1.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 695.99px;" /></a></figure></div></div><p></p><footer style="box-sizing: border-box; clear: both;"><div class="td-post-source-tags" style="box-sizing: border-box; font-family: Georgia, Times, "Times New Roman", serif; font-size: 11px; font-weight: 600;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="background-color: #222222; box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/cbn/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">CBN</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/cbn-fraud/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">CBN Fraud</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/godwin-emefiele/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Godwin Emefiele</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/jim-obazee/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Jim Obazee</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/newsheadline247/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li></ul></div><div class="td-post-sharing-bottom" style="border-color: rgb(237, 237, 237); border-style: solid; border-width: 1px 0px; box-sizing: border-box; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600; margin-bottom: 42px; padding: 21px 0px;"></div></footer>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-61188277564717870702023-12-22T01:47:00.000-08:002023-12-22T01:48:14.818-08:00Government issues high-risk warning to Samsung users against compromised security, cyber attack<p></p><div class="separator" style="clear: both; text-align: center;"></div><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMzWUi16yMa768SSuAn6Ef8Z0CbjHEc3dGB1WdWohEHXhFJDvdnM3E-UFbmqVYWTUeV0485tkRE7LUjp3acTbhAbhSjkkkrQ0s3o2WIOJDbdnlTy1CcTQT5DoB28iZBbbhxlQYW-L87lo_wAXpKE8D6HP9zJrMDlSPr5oJbmZ074mT5egvX0YQ2bjw/s1920/samsung-brand-logo-phone-newsheadline247.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1561" data-original-width="1920" height="325" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMzWUi16yMa768SSuAn6Ef8Z0CbjHEc3dGB1WdWohEHXhFJDvdnM3E-UFbmqVYWTUeV0485tkRE7LUjp3acTbhAbhSjkkkrQ0s3o2WIOJDbdnlTy1CcTQT5DoB28iZBbbhxlQYW-L87lo_wAXpKE8D6HP9zJrMDlSPr5oJbmZ074mT5egvX0YQ2bjw/w400-h325/samsung-brand-logo-phone-newsheadline247.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><p class="has-drop-cap" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Are you a frequent smartphone user and own a Samsung Galaxy device? Exercise caution, as there have been recent reports of peculiar hacking incidents. Some users have noted unauthorized access to their phones, while others reported instances of photo deletion.</strong></p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Additionally, some users have experienced the deletion of their phone’s passcodes and fingerprints. If you find yourself in a similar situation, read on for more information.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“I gazed at my phone in utter disbelief. The screen mocked me with a disheartening message: “Incorrect PIN.” I was certain about my PIN, which I had committed to memory and never changed. In a desperate attempt, I even resorted to using the fingerprint sensor, but to no avail” says Ankita, a regular Samsung Galaxy phone user who was locked out of her phone today morning.</p><div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><div class="td-a-rec td-a-rec-id-content_inline tdi_78 td_block_template_4" style="box-sizing: border-box; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“The question stayed: How could someone alter my phone’s PIN without my knowledge? My phone housed lots of personal information, including messages and photos, making it important that unauthorized access be prevented. As a sense of urgency prevailed, I went online and checked social media,” said Ankita.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“As I scoured online forums for guidance, a shiver ran down my spine. Reports of similar incidents began surfacing, suggesting a burgeoning cyber threat. It appeared that a new breed of hackers was infiltrating phones, manipulating PINs, and depriving users of access to their own devices,” she added.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Government issues warning</strong><br style="box-sizing: border-box;" />Meanwhile, India’s CERT-In department, responsible for addressing cybersecurity issues, issued a high-risk warning to notify Samsung Galaxy phone users about potential security threats to their data. The advisory emphasizes the urgency of updating the operating system (OS) and firmware to minimize these risks.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Several vulnerabilities have been identified in Samsung Mobile Android versions 11, 12, 13, and 14. One notable vulnerability allows attackers to exploit the system, potentially leading to information theft, code execution, and device compromise.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">CERT-In explicitly mentioned that users who neglect to update their devices expose themselves to increased hacking threats. While Samsung has released patches to address these vulnerabilities, it is crucial for users, like Ankita and others who encountered issues, to prioritize updating their phone to protect their devices from potential data breaches.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">For the unversed, cyberattack refers to attempts to steal, expose, alter, disable or destroy information through unauthorized access to computer systems, cellphones, laptops, and tabs.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Aside from keeping your phone’s operating system up to date, there are several other precautions you can take to enhance your device’s security. Additionally, if you suspect your phone has been hacked, here are some steps you can take to address the situation:</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Precautions to enhance phone security</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">1. Use Strong Passwords/PINs:- Set strong, unique passwords or PINs for your device lock screen and any sensitive apps.<br style="box-sizing: border-box;" />2. Enable Two-Factor Authentication (2FA):- Enable 2FA for your accounts whenever possible, adding an extra layer of security.<br style="box-sizing: border-box;" />3. App Permissions:- Regularly review and manage app permissions. Only grant necessary permissions to apps.<br style="box-sizing: border-box;" />4. Install Apps from Trusted Sources:- Download and install apps only from official app stores to reduce the risk of malware.<br style="box-sizing: border-box;" />5. Regularly Update Apps:- Keep all installed apps up to date to patch potential security vulnerabilities.<br style="box-sizing: border-box;" />6. Secure Wi-Fi Connections:- Use secure and password-protected Wi-Fi networks. Avoid connecting to public Wi-Fi for sensitive activities.<br style="box-sizing: border-box;" />7. Avoid Clicking on Suspicious Links:- Be cautious of phishing attempts. Avoid clicking on suspicious links in emails or messages.<br style="box-sizing: border-box;" />8. Regularly Back Up Data:- Back up your device regularly to ensure you can recover important data if needed.<br style="box-sizing: border-box;" />9. Device Encryption:- Enable device encryption to protect your data in case your phone is lost or stolen.<br style="box-sizing: border-box;" />10. Install Security Apps:- Consider installing reputable antivirus or security apps for an additional layer of protection.<br style="box-sizing: border-box;" /><br style="box-sizing: border-box;" /><strong style="box-sizing: border-box;">What to do if your phone is hacked</strong><br style="box-sizing: border-box;" /><br style="box-sizing: border-box;" />1. Disconnect from the Internet:- If you suspect your phone is hacked, disconnect it from the internet (Wi-Fi and mobile data) to prevent further unauthorized access.<br style="box-sizing: border-box;" />2. Change Passwords:- Change passwords for your email, social media, and other critical accounts immediately.<br style="box-sizing: border-box;" />3. Run a Security Scan:- Use a reputable antivirus or security app to scan your device for malware.<br style="box-sizing: border-box;" />4. Remove Suspicious Apps:- Uninstall any unfamiliar or suspicious-looking apps from your device.<br style="box-sizing: border-box;" />5. Check and Update Security Settings:- Review and update security settings on your accounts and devices.<br style="box-sizing: border-box;" />6. Update Operating System:- Ensure your device’s operating system is up to date to patch any known vulnerabilities.<br style="box-sizing: border-box;" />7. Contact Service Provider:- If necessary, contact your mobile service provider to report the incident and seek assistance.<br style="box-sizing: border-box;" />8. Consider a Factory Reset:- If the issue persists, consider performing a factory reset on your device. Note that this will erase all data, so ensure you have a backup.<br style="box-sizing: border-box;" />9. Monitor Accounts:- Keep a close eye on your accounts for any suspicious activities and report them promptly.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">10. Seek Professional Help:- If you’re unsure or unable to resolve the issue on your own, seek assistance from a professional or your device’s customer support.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Users of Apple and Samsung devices have received warnings from the Indian government’s emergency response team about potential security vulnerabilities. Hackers may exploit these vulnerabilities to access sensitive information, induce denial of service, bypass authentication, gain elevated privileges, and even launch cyber attacks on targeted systems. It is surprising to learn that, despite the strong brand reputation of Apple and Samsung, their smartphones are susceptible to cyber threats. Therefore, users must exercise caution and take measures to protect their devices from these potential threats.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The decision not to update the OS automatically is often based on a balance between user control, device limitations, network conditions, and ensuring a positive user experience. Manufacturers aim to strike a balance that considers these factors while encouraging users to keep their devices up to date for security and performance reasons.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Credit: <strong style="box-sizing: border-box;">India Times</strong></p><figure class="wp-block-image" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%;" /></figure><div class="td-a-rec td-a-rec-id-content_bottom tdi_80 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"><img alt="" class="wp-image-33038 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 695.99px;" /></a></figure><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><a class="https://www.fidelitybank.ng/digital-banking/fidelity-collections/paygateplus/virtual-account/" href="https://www.fidelitybank.ng/digital-banking/fidelity-collections/paygateplus/virtual-account/" rel="https://www.fidelitybank.ng/digital-banking/fidelity-collections/paygateplus/virtual-account/" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"></a><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2023/08/Fideity_ad_newsheadline247-1.png" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"><img alt="" class="wp-image-43601 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2023/08/Fideity_ad_newsheadline247-1.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 695.99px;" /></a></figure></div></div><footer style="box-sizing: border-box; clear: both; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600;"><div class="td-post-source-tags" style="box-sizing: border-box; font-size: 11px;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="background-color: #222222; box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/compromised-security/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">compromised security</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/cyber-attack/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">cyber attack</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/newsheadline247/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/samsung/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Samsung</a></li></ul></div></footer><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br />newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-46468273375141830762023-12-19T14:39:00.000-08:002023-12-19T14:43:11.647-08:00‘Tingo Group Lied’! ...US Charges Dozy Mmobuosi, Firms With Multimillion-Dollar Fraud<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEip9ZuUQ5pNcSVV6iwE3aAIxO-UcSLgKfB0jVeNdelcNn1Bf8S8cnQO4Z8WSiqBqmhUO44gCdfI5nSa3s-ekOqu0in47k64Sfk0n25xxTlgBIcHMqx7KRyEyMiJcAZ5zr8CnDk4B3eYKNS99MFiVwkqDV6iuRcPEQwY70IYzBC3u8JerfzKP_iVYI5r/s1280/Dozy-Mmobuosi-newsheadline247.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="720" data-original-width="1280" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEip9ZuUQ5pNcSVV6iwE3aAIxO-UcSLgKfB0jVeNdelcNn1Bf8S8cnQO4Z8WSiqBqmhUO44gCdfI5nSa3s-ekOqu0in47k64Sfk0n25xxTlgBIcHMqx7KRyEyMiJcAZ5zr8CnDk4B3eYKNS99MFiVwkqDV6iuRcPEQwY70IYzBC3u8JerfzKP_iVYI5r/w400-h225/Dozy-Mmobuosi-newsheadline247.jpeg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><b>The United States Securities and Exchange Commission has
said Tingo Group Inc. lied about having $461.7m in its subsidiary Tingo
Mobile’s Nigerian bank accounts when it only had $50 in claimed accounts.</b><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The U.S. SEC announced this on Monday when it announced
charges against the Mmobuosi Banye also known as Dozy Mmobuosi and three
affiliated US-based entities of which he is the Chief Executive Officer — Tingo
Group Inc., Agri-Fintech Holdings Inc., and Tingo International Holdings Inc.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">According to the commission, Mmobuosi is being charged in
connection with an alleged multi-year scheme to inflate the financial
performance metrics of his companies and key operating subsidiaries to defraud
investors worldwide.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">SEC noted that it is seeking emergency relief to prevent the
defendants’ continued dissemination of materially false information to
investors and to protect corporate and investor assets.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">According to the charges, “The SEC’s complaint, filed on
December 18, 2023, alleges that, since at least 2019, Mmobuosi spearheaded a
scheme to fabricate financial statements and other documents of the three
entities and their Nigerian operating subsidiaries, Tingo Mobile Limited and
Tingo Foods PLC. The complaint further alleges that Mmobuosi made and caused
the entities to make material misrepresentations about their business
operations and financial success in press releases, periodic SEC filings, and
other public statements.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“For instance, Tingo Group’s fiscal year 2022 Form 10-K filed
in March 2023 reported a cash and cash equivalent balance of $461.7m in its
subsidiary Tingo Mobile’s Nigerian bank accounts. In reality, those same bank
accounts allegedly had a combined balance of less than $50 as of the end of
fiscal year 2022. According to the SEC’s complaint, Defendants also fabricated
the customer relationships that formed the basis of their purported businesses.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“The complaint alleges that Mmobuosi and the entities he
controls have fraudulently obtained hundreds of millions in money or property
through these schemes, and that Mmobuosi has siphoned off funds for his
personal benefit, including purchases of luxury cars and travel on private
jets, as well as an unsuccessful attempt to acquire an English Football Club
Premier League team, among other things.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">According to SEC, its case is filed in the U.S. District
Court for the Southern District of New York, and the four defendants are being
charged with violating the anti-fraud provisions of the federal securities
laws.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The commission added that Mmobuosi was being charged with
lying to auditors, insider trading, and failing to file Forms 4 disclosing the
sales of millions of Agri-Fintech common stock for which he was the ultimate
beneficial owner.<o:p></o:p></span></p><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br />newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-67881159837720566702023-12-13T13:13:00.000-08:002023-12-13T14:30:53.248-08:00N7 billion Fraud: Heir To Kogi’s Ohinoyi Throne On The Run As Police Investigate Alleged Property Scam<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpqVQliiDVDVXkVxZzCyGLOuEKiDmVTFOKOQE6wigRTAvTDxS6alxfaa-xIQAnnmr88sTm43Lfl_devLij3RRCA9KzHAbyigOdnxdUR-eoeYagP7ER68FGC3mljPs0PWJDH3buzZai8Q1OwdjqQeuIuQ3d_F9PCP9HeLC5trRJNQ3cXM6tI0LTfEst/s394/Ataba%20Sani-Omolori.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="368" data-original-width="394" height="374" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpqVQliiDVDVXkVxZzCyGLOuEKiDmVTFOKOQE6wigRTAvTDxS6alxfaa-xIQAnnmr88sTm43Lfl_devLij3RRCA9KzHAbyigOdnxdUR-eoeYagP7ER68FGC3mljPs0PWJDH3buzZai8Q1OwdjqQeuIuQ3d_F9PCP9HeLC5trRJNQ3cXM6tI0LTfEst/w400-h374/Ataba%20Sani-Omolori.png" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Mr. Ataba Sani-Omolori, poised to become the fifth Ohinoyi of
Ebiraland, has reportedly gone into hiding following a criminal complaint filed
by his sibling alleging he fraudulently sold off one of their late father’s
vast properties and pocketed the proceeds.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The development comes as kingmakers in Ebiraland, Kogi State,
are in the midst of selecting a successor to the recently deceased Ohinoyi,
Abdul Rahman Ado Ibrahim.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Ataba, a former Clerk to the National Assembly, was
considered a frontrunner for the throne but the race has taken a twist with
Ataba now a wanted man.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Known to have groomed himself as next in line for the throne
held by his late father for 40 years until 1997, Ataba now finds himself on the
wrong side of the law over a longstanding N7 billion property
fraud allegations.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">According to a police report obtained exclusively, Mr. Ataba
has been evading detectives investigating claims that he illegally sold the
multi-million naira property bought in the name of Mohammed Tata and Sons
Nigeria Limited by his late father.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The allegations resulted in the police investigation into the
sale of the property located at Plot No. 260-Katampe Ext. District in Abuja.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Ataba’s sibling, Buhari Sani-Omolori, filed the complaint on
August 10, 2023, at the Life Camp Police Division in Abuja. The report accused
Ataba of conspiring with a clique of property developers to fraudulently sell
off the land now supposedly valued at hundreds of millions of naira.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">According to the documents, Ataba conspired with several
individuals, including Messrs Hennes Homes Limited, HRH Igwe Gabriel Umeh, Mr
Bala Khamofu, Nwegwa Uchenna, and Paul Igwe Nwagbamu, to sell the property
without the consent of directors of Kareem Mohammed Tata and Sons Nigeria
Limited, which he is not a director.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The land was allegedly sold by Ataba for a fraction of its
potential value and failed to distribute the proceeds to his siblings, who are
the original directors of the company.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Ataba, according to the police report dated December 6, 2023,
with reference number AB:4099/FCT/LC/VOL.12/75, has remained “at large” and
efforts by police detectives to interview him over the fraud allegations have
“proved abortive”.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">In the criminal complaint filed by Buhari Sani-Omolori, the
late monarch’s son said Ataba knew he wasn’t a director in Kareem Mohammed Tata
and Sons Nigeria Limited yet signed as a director during the sale of the
property.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">When visited the Life Camp Police Division to extract
further information on the matter, the Divisional Crime Officer said he was not
authorised to speak. The IPO in charge of the case also declined to speak to
our correspondent.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">However, a police report on the matter submitted to the
Registrar of the Chief Magistrate Court, Life Camp, Abuja, said: “Henness Homes
company trespassed into the land claiming to have bought the said land from HRH
Igwe Gabriel Umeh (and) were building on the said land without the consent of
directors of the company of Kareem Mohammed Tata and Sons Nigeria Limited.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“That the chief sales representative from Henness Homes and
company, Mr. Ferri Ojomu Emmanuel, was invited and he stated that Henness Homes
Company bought the said land from HRH Igwe Gabriel Umeh, while HRH Igwe Gabriel
stated that he bought the said land from one Mr. Bala Kharnofu in the year 2000
at the rate of N4,500,000.00 (Four Million Five Hundred Thousand Nair Only).”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">According to the police, “Mr. Bala Khamofu in return stated
that he bought the said land from one Mr. Abdulrazaq Ataba Sani Omolori ‘m’ who
is now at large at the rate of N2,000,000 (Two Million Naira Only).”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The police further stated that they invited all the suspects
for questioning and obtained voluntary statements from them “except Mr.
Abdulrazaq Ataba Sani Omolori ‘m’ who is now at large” and “Efforts made to get
him proved abortive.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The police said from the investigation conducted so far, they
were able to establish that “the person who signed the Director Column for the
purchase of the land is not among the four Shareholders of Kareem Mohammed Tata
and Sons Nigeria Limited.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The Life Camp Police Command recommended that “in view of the
above, a prima facie case of Criminal Conspiracy and Trespass should be
established against all the suspects mentioned above, while the case of
cheating should be established against Abdulrazaq Ataba Sani Omolori ‘m” who is
now at large”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">ATABA’S LAWYER REACTS<br />
Efforts to reach Mr. Sani-Omolori for comments proved abortive. But his lawyer,
Sani Abbas, denied allegations his client was avoiding arrest, claiming he has
been out of town and would willingly meet with the police on his return.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“First, my client would never avoid the police, that I am
sure of. Secondly, my client has been out of town. I, personally, have been to
the police station and I told the police he is out of town and when he is back,
he would come.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“So, my client is not running away from the police. He would
never refuse to visit any authority that invites him for anything that has a
reasonable cause.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“On the other issues, I do not have my client’s instructions
to speak to you. I would seek his consent and if he gives me the go-ahead, I
would call you,” said Abbas.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">OMOLORI’S N7 BILLION ESTATE<br />
In 2021, the children of the late monarch filed a petition before the
Economic and Financial Crimes Commission (EFCC) seeking investigations into how
a briefcase containing original documents of their late father’s properties was
allegedly stolen days after his death.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Some of the properties are said to be located in the Maitama,
Katampe, and Mabushi districts of the Federal Capital Territory, Abuja.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">In 2022, a member of the Omolori family said the family
carried out investigations and found that the monarch’s eldest son, Ataba,
allegedly stole original documents days after their father’s death and sold
them without consulting his siblings or sharing the benefits with them.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Some of Ataba’s siblings died from treatable diseases,
according to family sources who believe the deceased persons could have
afforded medical care if they had received their full inheritance.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"> </span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">– THE WHISTLER<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"> </span></p><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br />newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-89592834853070061062023-11-04T02:02:00.006-07:002023-11-04T02:02:53.245-07:00Alleged Fraud: Folorunsho Coker, Estranged Wife, Aisha Rimi Indicted For Diverting ₦3billion From Lagos Account<div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgjaPCXgILUphUKXmfUZlXmq2hbRN_y5h67WbjHhZSQ26basE9taI95YVIAR6gZvK_2aF1hUUhbS2-9Vkrk3L1N9ofDq_DzGKt7jMbgD6pOYe40JM4mCPq6H31ZH1QDzrb8Fd-u6QfdWeCtmQKR0yp_KT-NEJmlE0a8fDpe1zt0a6YEBxGXtCPUO5Sw" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="287" data-original-width="400" height="230" src="https://blogger.googleusercontent.com/img/a/AVvXsEgjaPCXgILUphUKXmfUZlXmq2hbRN_y5h67WbjHhZSQ26basE9taI95YVIAR6gZvK_2aF1hUUhbS2-9Vkrk3L1N9ofDq_DzGKt7jMbgD6pOYe40JM4mCPq6H31ZH1QDzrb8Fd-u6QfdWeCtmQKR0yp_KT-NEJmlE0a8fDpe1zt0a6YEBxGXtCPUO5Sw=w349-h230" width="349" /></a></div><br /><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><p class="has-drop-cap" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;"><strong style="box-sizing: border-box;">Newly appointed Chief Executive Officer (CEO) of the Nigerian Investment Promotion Commission (NIPC), Aisha Rimi is presently being indicted alongside her estranged hubby, a popular Lagos socialite, Folorunsho Coker, for diverting N3bilion Naira from the Lagos State account.</strong></p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">Ms. Aisha Rimi was recently appointed as the CEO of the NIPC by President Bola Tinubu.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">She was indicted by the Economic and Financial Crimes Commission (EFCC) alongside Mr Coker, now reportedly to be her estranged husband.</p><div class="td-a-rec td-a-rec-id-content_inline tdi_78 td_block_template_4" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure></div><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">It was gathered that on March 6, 2018, that the EFCC told a Lagos High Court that N3 billion was diverted from the account of the Lagos State Government Number Plate Production Authority when Coker was the managing director.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">A report monitored on <a href="https://saharareporters.com/2023/11/03/tinubus-appointee-indicted-efcc-diverting-n3billion-lagos-account" rel="noreferrer noopener" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"><strong style="box-sizing: border-box;">SaharaReporters</strong></a> online news platform stated that in 2018, an EFCC investigator, Mr Olamide Sadiq, in an affidavit deposed to in support of an ex parte application to freeze the account used for the alleged fraud, said an investigation into the fraud was based on intelligence received sometime in 2017 by the Nigerian Financial Intelligence Unit about suspicious transactions on the account of Rimi and Partners</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">According to him, there were “heavy inflows” in excess of N3 billion from LSGNPPA into the account of the company allegedly owned by Aisha Rimi, who is Coker’s wife.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">Sadiq said investigations by EFCC revealed that Rimi and Partners had 10 bank accounts with Guaranty Trust Bank.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">“Mr. Folorunsho Coker was as at that time the Managing Director of the 1st respondent — LSGNPPA.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">“He was also the husband of Aisha Rimi, one of the signatories to the accounts of the 2nd and 3rd respondents — Rimi and Partners and Ekosina Investment Ltd respectively.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEglr3J09bxqWvmxNrRynst7_9IPBrVLJxF-4r09tlztj05pt6nP44ypDX-KQJFcmiCJiSm2UOpcpuEK3VM2dEnCJKLUZOzYclAJgHe_pkTNSSDO63eqyCMAxROj2Q8WIZ5DoRWGbeBPg7hQ3fmsk3kZnTkYNlG2U1Mu2ajrWzoEF1Jp3t86QjVOL2Wg" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="346" data-original-width="640" height="173" src="https://blogger.googleusercontent.com/img/a/AVvXsEglr3J09bxqWvmxNrRynst7_9IPBrVLJxF-4r09tlztj05pt6nP44ypDX-KQJFcmiCJiSm2UOpcpuEK3VM2dEnCJKLUZOzYclAJgHe_pkTNSSDO63eqyCMAxROj2Q8WIZ5DoRWGbeBPg7hQ3fmsk3kZnTkYNlG2U1Mu2ajrWzoEF1Jp3t86QjVOL2Wg" width="320" /></a></div><br /><br /><p></p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">“Further to the depositions contained in the paragraph above, I know as a fact derived during my investigations, that the said Mr. Folorunsho Coker was also a signatory to the Bank account of the 1st respondent.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">Further findings reportedly revealed that Aisha Rimi is the major partner in Rimi and Partners and she is also in control of Ekosina Investment Ltd, a company seen to have received huge transfers from the LSGNPPA.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">“From preliminary investigations by the commission, the 2nd and 3rd respondents were used to divert funds from the LSGNPPA with the influence of Folorunsho Coker, who was the Managing Director of the Lagos State Agency,” Sadiq told the court.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">Based on EFCC’s request, Justice Mohammed Idris of the Federal High Court ordered the freezing of the 32 bank accounts allegedly used for the diversion of funds pending the conclusion of the investigations being done by the EFCC.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">Idris said the account would remain frozen pending the conclusion of EFCC’s investigation into the alleged N3 billion fraud.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">The companies whose accounts were also frozen include a law firm, Rimi and Partners; the EFCC stated that Coker’s wife, Mrs Aisha Rimi, was the sole proprietor.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">The court also ordered the accounts of Ekosina Investment Ltd, SW Properties Ltd, Imira Trade and Global Services Ltd, Lofty Investment Nigeria Ltd, Pure Technical Services Ltd and Cablepoint Ltd among others to be frozen.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">Despite the baggage, President Bola Tinubu on October 15 appointed Rimi as the new CEO of NIPC.</p><div class="td-a-rec td-a-rec-id-content_bottom tdi_80 td_block_template_4" style="box-sizing: border-box; clear: both; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure></div></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-24592649442874468882023-10-18T09:23:00.001-07:002023-10-18T09:23:36.000-07:00EFCC: Unlicensed foreign exchange dealer, Chike Agada arrested for N2bn fraud<p class="has-drop-cap" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;"><br /></strong></p><p class="has-drop-cap" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;"></strong></p><div class="separator" style="clear: both; text-align: center;"><strong style="box-sizing: border-box;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgW6fQo9APsoiZmpZSIMy_Y0yPG29nCq-kjDRotsRQJDoxwUOnJr4pARRdu6K7v03GM0R5SCOfh_lEQ5alUh6HdMnfiJNyG27bxep-XmI8gSFt0YWBiSca4AlucClRjB8V3PAkrOuDwnFRKOkCcpoODUoxGyqwdGg9P0zTbOWhQffOMfTfXO8i0TT-X" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="215" data-original-width="400" height="211" src="https://blogger.googleusercontent.com/img/a/AVvXsEgW6fQo9APsoiZmpZSIMy_Y0yPG29nCq-kjDRotsRQJDoxwUOnJr4pARRdu6K7v03GM0R5SCOfh_lEQ5alUh6HdMnfiJNyG27bxep-XmI8gSFt0YWBiSca4AlucClRjB8V3PAkrOuDwnFRKOkCcpoODUoxGyqwdGg9P0zTbOWhQffOMfTfXO8i0TT-X=w393-h211" width="393" /></a></strong></div><strong style="box-sizing: border-box;"><br /><br /></strong><p></p><p class="has-drop-cap" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) have arrested an unlicensed foreign exchange dealer, Chike Agada for alleged N2 billion fraud.</strong></p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">EFCC in a statement said Agada, a native of Udi Local Government Area of Enugu State, was declared wanted by the Commission on Wednesday, October 11, 2023.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">He was declared wanted for obtaining money by false pretence and stealing by conversion to the tune of N2 billion.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The 37-year-old was arrested at a residence in the Bourdillion, Ikoyi area of Lagos on Monday, October 16, 2023 during a sting operation by operatives of the Commission, following credible intelligence linking him to the alleged scam.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Upon arrest, a mobile device was recovered from him.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">He will be charged to court as soon as investigations are concluded, EFCC said.</p>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-85777945527681597342023-10-14T15:41:00.004-07:002023-10-14T15:41:19.290-07:00Less than 1% Of Smartphones In Nigeria Are 5G-Enabled—Airtel<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipxJfsKuxBaTFASHhAzcTYFVc0T72TFBLtooTr5AGEu3vBP1MQMtdCj7w7Ml3ceTNC5eayfkaHE9oGKV7jWMEPsZEm6NT57BFLR-x9kjbYCn9unv2-apdwguZZX_x4zJat2owuUgp_gr0dDtfzJA9bswSvwER_eFos2LRHyhpX0BPn7sOf7w5Gg2Xx/s900/Airtel-Nigeria-newsheadline247.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="563" data-original-width="900" height="250" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipxJfsKuxBaTFASHhAzcTYFVc0T72TFBLtooTr5AGEu3vBP1MQMtdCj7w7Ml3ceTNC5eayfkaHE9oGKV7jWMEPsZEm6NT57BFLR-x9kjbYCn9unv2-apdwguZZX_x4zJat2owuUgp_gr0dDtfzJA9bswSvwER_eFos2LRHyhpX0BPn7sOf7w5Gg2Xx/w400-h250/Airtel-Nigeria-newsheadline247.jpg" width="400" /></a></div><br /><b> <span style="font-size: 12pt;">Telecommunications operator, Airtel Nigeria, has said that
less than 1% of smartphones currently available in Nigeria are 5G-enabled thus
creating a barrier to the adoption of the latest mobile technology that has
been launched by three operators.</span></b><p></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The Director of Marketing at Airtel, Ismail Adesina,
disclosed this during a webinar on the need for collaborations to drive 5G in Nigeria.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">He also identified two major obstacles to 5G spread in
Nigeria including coverage and cost.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">As a result of these obstacles, 5G subscriptions in Nigeria
were still at 0.83% as of August this year, according to data from the Nigerian
Communications Commission.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">This was even though three network operators, including
Airtel, MTN, and Mafab have launched the technology.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">While coverage has to do with operators’ ability to expand
the service across the length and breadth of the country, Ismaila said the cost
relates to the affordability of devices for the consumers.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">To address these issues, he said Airtel plans to invest more
in expanding its 5G infrastructure while partnering with Original Equipment
Manufacturers (OEMs) to make 5G phones available in Nigeria and at affordable
costs.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Leveraging partnerships<br />
While noting that Airtel is continually investing in infrastructure to expand
its service across Nigeria, Ismaila said the company is also leveraging
partnerships to drive down the cost of devices.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“There are two constraints on 5G, one is about coverage, and
two is about cost. Today, the average cost of a 5G device is still very
expensive. And this is why we are partnering with MediaTek and other OEMs. So,
when you see devices coming out at very cheap prices, it is because there’s a
lot of collaboration between Airtel and MediaTek,” he said.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Speaking on the collaboration with Airtel Nigeria, the
Director for Corporate Sales and Marketing, MediaTek Middle East and Africa,
Said Rami Osman, said the chip-making company will be deploying its
T750-powered Customer Premises Equipment (CPE), to enhance Airtel’s 5G service
delivery.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“Our collaboration with Airtel Nigeria focuses on enhancing
high-speed internet access through advanced chipsets, offering a wider range of
premium and flagship devices while supporting the transition from feature
phones to smartphones, and exploring innovative AI-IoT solutions.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">This collaboration will drive digital inclusion,
revolutionize connectivity in Nigeria, and contribute to sustainable
development goals,” he said.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">MediaTek powers globally recognized brands by providing
state-of-the-art innovations through its latest products and solutions. These
offerings span a diverse range, including smartphones, smart devices,
automotive technology, satellite connectivity solutions, and next-generation
wearables.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"> </span></p>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-65344361084567537122023-10-14T15:15:00.005-07:002023-10-14T15:15:29.591-07:00ETI Group Chairman, Alain Nkontchou Buys N1.5bn Shares Via Proxy<div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXHP7C6UeaNcVywSMWj5UAfZ82nu_lv7I2b4VsugA3g0P-4-O7f7PvY4wtMF2vv2VPUhEsHjNpDAQnImRBxoXsg3c0oYhGTjruC_Kudwv_bMc9BITh8H78evWXDGOCdxxaAlK5Q9moWHF5LmfKFdv20wjCdGyPAwzGZZDPn3eKTSvwWX7lIYE47Vnq/s805/Alain-Nkontchou-newsheadline247.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="610" data-original-width="805" height="303" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXHP7C6UeaNcVywSMWj5UAfZ82nu_lv7I2b4VsugA3g0P-4-O7f7PvY4wtMF2vv2VPUhEsHjNpDAQnImRBxoXsg3c0oYhGTjruC_Kudwv_bMc9BITh8H78evWXDGOCdxxaAlK5Q9moWHF5LmfKFdv20wjCdGyPAwzGZZDPn3eKTSvwWX7lIYE47Vnq/w400-h303/Alain-Nkontchou-newsheadline247.jpg" width="400" /></a></div><br /><p class="MsoNormal" style="text-align: left;"><span style="background-color: white; color: #161719; font-family: Inter, sans-serif; font-size: 14px; white-space-collapse: break-spaces;"><b>Ecobank Transnational Incorporated's (ETI) Group Chairman, Alian Nkontchou, has purchased an additional 96,515,229 shares worth N1.5 billion through proxy.</b></span></p><p class="MsoNormal" style="text-align: left;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">This share purchase was disclosed via a notice of
Directors Dealings signed by Company Secretary Madibinet Cisse and sent to the
Nigerian Exchange Limited.<o:p></o:p></span></p><p class="MsoNormal"></p><div style="text-align: left;"><span style="font-size: 12pt;">Increase in stake to 2.84%</span></div><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><div style="text-align: left;"><span style="font-size: 12pt;">ETI revealed that Mr Alian Nkontchou purchased the shares via ENKO OPPORTUNITY
GROWTH FUND LTD (a company related to him).</span></div><o:p></o:p></span><p></p><p class="MsoNormal" style="text-align: left;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The 96,515,229 units of ETI shares were bought between August
1st,2023, and September 29th, 2023, at an average price of N15.55 per share.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: left;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">This acquisition increased his number of direct and indirect
shares from 418,977,516 units as of 30th June 2023 (based on ETI’s
financial report), to 515,492,745 units or the equivalent of 2.84% of ETI’s
total shareholding.<o:p></o:p></span></p><p class="MsoNormal"></p><div style="text-align: left;"><span style="font-size: 12pt;">Brief Profile of Alian Nkontchou</span></div><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><div style="text-align: left;"><span style="font-size: 12pt;">Mr Alian Nkontchou is the Managing Partner and co-founder of Enko Capital
Management LLP, an asset management company based in London and Johannesburg
that focuses on African investment opportunities.</span></div><o:p></o:p></span><p></p><p class="MsoNormal" style="text-align: left;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Alain was an adviser of Laurent Perrier, a champagne company
in France, having also been a non-executive director from 1999 to 2009.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: left;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">He previously worked in London between 1995 and 2008 as
Managing Director of Credit Suisse’s Global Macro Trading Group and also with
JP Morgan Chase & Co.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: left;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Between 1989 and 1994, he worked with Chemical Bank in Paris
and New York, where he became Vice-President and head of Trading and Sales.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: left;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Alain has a track record of business success, having
generated significant dollar revenues for each of these bulge-bracket
institutions.<o:p></o:p></span></p><p class="MsoNormal" style="text-align: left;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Alain has an MSc. in Electrical Engineering from Supelec and
P.M. Curie University, Paris, and an MSc in Finance and Accounting from ESCP
(Ecole Supérieure de Commerce de Paris).<o:p></o:p></span></p><p class="MsoNormal"></p><div style="text-align: left;"><span style="font-size: 12pt;">More on ETI</span></div><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;"><div style="text-align: left;"><span style="font-size: 12pt;">Ecobank Transnational Incorporated (ETI) released its 2023
second-quarter results showing a 63% increase in pre-tax profits to N92.52 billion.</span></div><o:p></o:p></span><p></p><p class="MsoNormal" style="text-align: left;">
</p><p class="MsoNormal" style="text-align: left;"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The increase in second-quarter profits helped its half-year
profit before tax to rise by 38% to N150.31 billion compared to N108.96 billion
same period last year.<o:p></o:p></span></p></div>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-46018543942348047372023-07-23T01:11:00.006-07:002023-07-23T01:13:15.588-07:00Eco Bank CEO, Bolaji Lawal faces though time<p class="has-drop-cap" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;"></strong></p><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><strong style="box-sizing: border-box;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglFnKQInS4GYdl18-He5WyKUkG2vFCXFQNqg0ZnZLsUh2OwyBFlp6bOLemgW85fEFbOWeJYPhSHbNeArsnIvpEo_2RXftHWiLa9LLXsGExigqmIq3T-chcxfoPXONH4CrqcpL0LLGh4G5EbqdHTPiQzpVxwEha9W4Y0_o2nYNRynJf4p0CCxUVk4RC/s400/Bolaji-Lawal-newsheadline247.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="380" data-original-width="400" height="304" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglFnKQInS4GYdl18-He5WyKUkG2vFCXFQNqg0ZnZLsUh2OwyBFlp6bOLemgW85fEFbOWeJYPhSHbNeArsnIvpEo_2RXftHWiLa9LLXsGExigqmIq3T-chcxfoPXONH4CrqcpL0LLGh4G5EbqdHTPiQzpVxwEha9W4Y0_o2nYNRynJf4p0CCxUVk4RC/s320/Bolaji-Lawal-newsheadline247.jpg" width="320" /></a></strong></div><strong style="box-sizing: border-box;"><br /><div class="separator" style="clear: both; text-align: center;"><br /></div></strong></div><strong style="box-sizing: border-box;"><br /><strong style="box-sizing: border-box;">Things are getting tougher for ECO Bank CEO, Bolaji Lawal who is earnestly looking forward to proving his mettle as the bank chief.</strong></strong><p></p><div class="separator" style="clear: both; text-align: center;"><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">From eyeing N13.5 billion payout to boost operations, the financial institution he oversees is now deep neck down in a whooping N72.2 Billion debt.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">That is the unfolding tale of an uphill task of the Eco Bank CEO- Bolaji Lawal.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">Lawal officially took up the career-defining appointment as Chief Executive Officer at the Bank whose official name is Ecobank Transnational Inc (ETI) on March 1, 2022 after missing out of becoming the Managing Director at Guaranty Trust Bank (GTBank).the previous year. </p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">The Eco Bank job was touted as the perfect opportunity to show his former employers they were wrong in letting him go.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">But life has thrown a major stumbling block to what was about to be a quick start with N72.2billion damages in favour of Honeywell Flour Mills Plc (HFMP). </p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">The judgement is compensation for the huge loss HFMP suffered with the ex-parte order Eco Bank secured against its operation while seeking to recover a disputed loan.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">The ex-parte order – motions for orders that can be granted without waiting for a response from the other side – frozen the assets of Honeywell Flour Mills as part of efforts by Eco Bank to force recovery of the disputed loan.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">The development resulted in significant loss for HFMP, its stakeholders as well as the direct and indirect dependants on it operations – including what is termed “incalculable perception on credit worthiness”.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">“Eco Bank secured the ex-parte orders from a Federal High court in November 2015, Honeywell regained it assets in 2016 through the Court of Appeal and in 2018, the supreme court upheld that Eco Bank was wrong and granted full access of the assets to Honeywell” SocietyNow.Ng learned.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">Added information revealed that the legal condemnation of the move by Eco Bank was such that its counsel was sanctioned for the step.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">Interestingly while trying to convince the court to grant the nullified ex-parte orders, Eco Bank reportedly added a sweetener, the bank ” submitted an undertaking to compensate Honeywell Flour Mills for any harm or losses suffered as a result of the ex-parte order, if it is determined that the application was without merit.” SocietyNow.Ng learned.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">It was gathered that is what has come back to haunt the Bank with Lawal as Chief Executive Officer, according to SocietyNow.Ng.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">Honeywell took Eco Bank and its legal team to their words in the undertaking and approached the court in 2018, after the supreme court win, with a comprehensive compilation of the loss suffered during the period the ex-parte orders were applied on its assets.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">“The result is the N72.2 Billion damages awarded on Tuesday (July 18, 2023), though Honeywell sought more than that” SocietyNow.Ng gathered.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">Added checks revealed that though Eco Bank has announced the intention to appeal the decision, it has been an unsettling development for the Chief Executive Officer and his team.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">It was also gathered that this is especially because, before the supreme court win that gave Eco Bank confidence of getting ₦13.5 billion from Honeywell Flour Mills in the original dispute, the Bankers’ Committee, Sub-committee on Ethics & Professionalism in a decision ratified by the Bankers’ Committee ruled in 2015 that HFMP was not indebted to the Bank.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">But the Eco Bank refused to abide by the decision and insisted otherwise until the matter went to open court and entered into the latest chapter.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">“And now the new Chief Executive Officer’s job just got tougher with such an addition to all that is already on his plate,” the source disclosed.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; text-align: start;">Source: <strong style="box-sizing: border-box;">SocietyNowNg</strong></p></div><p><br /> </p>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-29829560557360150672023-07-08T04:53:00.002-07:002023-07-08T04:53:39.962-07:00How Geregu CEO, Akin Akinfemiwa, Saved Me From Bankruptcy – Otedola<div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeFKc93WS6g2pVqYFIK_T4lopB0Bn725OUOtEyFBKKrCs3_NRq_W9BreWVfD_XDc_348w0xh3A1xisLsMetrwdVffcLdtUKuFSWZMK07u6L0foPV5Ul3HUTf4pUimbAYuUlrXeVI1k3Rmfh6RTlj8n3bMIyU-flieIeJN_3yP700jEJcnCS5HC3fR6/s621/Otedola_Akinfemiwa_newsheadline247.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="582" data-original-width="621" height="375" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeFKc93WS6g2pVqYFIK_T4lopB0Bn725OUOtEyFBKKrCs3_NRq_W9BreWVfD_XDc_348w0xh3A1xisLsMetrwdVffcLdtUKuFSWZMK07u6L0foPV5Ul3HUTf4pUimbAYuUlrXeVI1k3Rmfh6RTlj8n3bMIyU-flieIeJN_3yP700jEJcnCS5HC3fR6/w400-h375/Otedola_Akinfemiwa_newsheadline247.png" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: left;"><div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><div class="td-a-rec td-a-rec-id-content_top tdi_77 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" src="https://newsheadline247.com/wp-content/uploads/2021/12/Banner.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure>\</div><ul style="box-sizing: border-box; margin-bottom: 26px; padding: 0px;"><li style="box-sizing: border-box; line-height: inherit; margin-bottom: 10px; margin-left: 21px;"><strong style="box-sizing: border-box;">‘I Contemplated Suicide’ – Otedola</strong></li><li style="box-sizing: border-box; line-height: inherit; margin-bottom: 0px; margin-left: 21px;"><strong style="box-sizing: border-box;">Their Relationship As A Gift of Providence</strong></li></ul><p class="has-cyan-bluish-gray-background-color has-background" style="background-color: #abb8c3; box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; padding: 1.25em 2.375em;"><strong style="box-sizing: border-box;"><em style="box-sizing: border-box;">After he lost his fortune, it struck him that his father had always been his role model in life and the first thing he must do was to protect his name and integrity</em></strong></p><p class="has-drop-cap" style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">When you are as wealthy as Femi Otedola, it could be hard to be humble. Yet Otedola affects staggering humility. The billionaire magnate ascribes his affluence not by virtue of any sharpness of sight solely on his part, or any personal distinction but to the support of men of colossal height.</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The crust of pride, which remains the failing of many a billionaire, dissipates amid the fount of Otedola’s comeliness; the accomplished mogul affects infectious humbleness – makes it difficult to resent him.</p><div class="td-a-rec td-a-rec-id-content_inline tdi_76 td_block_template_4" style="box-sizing: border-box; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Otedola’s modesty manifested in full bloom, recently, in London, United Kingdom (UK), at the 50th birthday celebration of the Chief Executive Officer (CEO) of Geregu Power Plc., Akin Akinfemiwa. </p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">At the event, Otedola revealed the remarkable role played by Akinfemiwa in salvaging his business and saving him from bankruptcy. In video recently posted by a news medium, Otedola described his first encounter with Akinfemiwa in 2005 as a gift of providence.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">He disclosed that Akinfemiwa played a pivotal role in revitalizing his business (Forte Oil) when it ran into hard times. According to Otedola, he had hit rock bottom and was at the point where he actually contemplated taking his own life but after careful consideration, he jettisoned the idea.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Around the time that Akinfemiwa began working for Otedola, the billionaire magnate, faced a significant setback in 2008 when he incurred a loss of approximately $480 million.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">This was due to a drastic drop in diesel prices. The shipment, comprising one million tons of diesel, experienced a price crash from $146 to $34 per barrel. Coupled with the devaluation of the naira, this unfortunate event led to Otedola’s exclusion from the Forbes billionaire list.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">After he lost his fortune, it struck him that his father had always been his role model in life and the first thing he must do was to protect his name and integrity. Thus his decision to heal and recoup his fortune the old fashioned way, by dint of honest endeavour.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Just after the global banking crisis had struck, the Nigerian government established the Asset Management Corporation of Nigeria (AMCON) to buy up distressed loans. Otedola’s loan was sold to AMCON by his bank.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Experience is the best teacher. I didn’t have a proper structure and I also put the blame on the banks for not advising me. All they were interested in was the profits. They were not interested in sustainability of the business, they were short-sighted and all they were interested in was throwing money at me. So they never advised me,” said Otedola.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The banks had to shave off about $400 million from the debt leaving Otedola $800 million in the red. AMCON offered him a restructuring deal, which Otedola declined. He opted instead to repay what he owed and start all over again.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“So we got a reputable firm to value my assets. I had about 184 flats, which I gave up. I was the largest investor in the Nigerian banking sector, which I gave up, I was also a major shareholder of Africa Finance Corporation and I was the Chairman of Transcorp Hilton. I was a shareholder in Mobil Oil Nigeria Limited, the second largest shareholder in Chevron Texaco, Visafone and several companies which they valued, and I had to give up to repay the debt,” revealed Otedola.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Acknowledging his part in the failure of his business, Otedola entrusted the remedial steps to Akinfemiwa. This strategic move turned out to be a turning point, solidifying the Geregu CEO’s standing in the energy sector.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“My relationship with Akin is what I would call, destiny prevails. In 2005 I had a friend that worked in Oando and she did mention to me that she has a colleague. And she called Akin and we spoke,” disclosed Otedola.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">He said, “I set up my training company in London Fine shade energy, I was looking for a trader and I couldn’t find any good trader. I called Dimeji Edwards who was Akin’s boss. Akin picked up the phone to come and see me.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“So he came, and I said to him, listen I want to give you a job. Come and work for me. Then of course he went back to Wale and Mofe who were his bosses then. And they said you want to go and work for that man? That has sacked six CEOs in six years.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Now, when I say destiny prevails, the business collapsed. I built a massive empire. I had 93 per cent of diesel at my fingertips. I was a bit playful, and the business collapsed. The option I had then was to commit suicide. Then, of course, I thought of Nana and the kids. And I said no, I won’t commit suicide.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“I will face reality and sack myself and the business. So, I sacked myself. I made Akin the CEO of the London office, and I was so impressed by the way he turned around the business. I gave him 1% of the business. I now later, made him the CEO of Zenon Oil, and then the CEO of African Petroleum.”</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"> These measures were instrumental to his comeback; Otedola made an impressive comeback, acquiring stakes in major companies and consolidating his position in the business world.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"> These days, he is much wiser; there are systems in place to prevent a similar collapse of his business empire.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Source: The Capital NG</p><figure class="wp-block-embed is-type-wp-embed is-provider-newsheadline-247 wp-block-embed-newsheadline-247" style="box-sizing: border-box; margin: 0px 0px 1em;"><div class="wp-block-embed__wrapper" style="box-sizing: border-box; position: relative;"><iframe class="wp-embedded-content" data-secret="Sex3tnxH3x" frameborder="0" height="658" marginheight="0" marginwidth="0" sandbox="allow-scripts" scrolling="no" security="restricted" src="https://newsheadline247.com/selfless-service-to-humanity-femi-otedola-donates-fully-built-engineering-facility-to-university/embed/#?secret=Sex3tnxH3x" style="box-sizing: border-box; max-width: 100%; width: 695.99px;" title="“Selfless Service To Humanity, Femi Otedola, Donates Fully Built Engineering Facility To University” — newsheadline247" width="600"></iframe></div></figure><div class="td-a-rec td-a-rec-id-content_bottom tdi_78 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="box-sizing: border-box; color: #4db2ec; outline: 0px;"><img alt="" class="wp-image-33038 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 695.99px;" /></a></figure></div></div><footer style="box-sizing: border-box; clear: both;"><div class="td-post-source-tags" style="box-sizing: border-box; font-family: Georgia, Times, "Times New Roman", serif; font-size: 11px; font-weight: 600;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="background-color: #222222; box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/akin-akinfemiwa/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Akin Akinfemiwa</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/femi-otedola/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Femi Otedola</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/newsheadline247/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li></ul></div><div class="td-post-sharing-bottom" style="border-color: rgb(237, 237, 237); border-style: solid; border-width: 1px 0px; box-sizing: border-box; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600; margin-bottom: 42px; padding: 21px 0px;"></div></footer></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div></div>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-91197502252991743552023-06-29T16:31:00.005-07:002023-06-29T16:31:39.353-07:00Colour, Class as Gov Abdulrazaq joins Emir Ilorin in Emirate Durbar Horse Riding<div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZd6QVMoIklKP60lzTAP2uPF3M51ikMOfoX3mZtelmLXebD0XkH3NsIqSYUyYBs5Joh_rxtuTk32qV6DgQvsYUt97Bhkrk1dmHrL516oWwTKXlGFoyWTtAmnS-orHcGdnG-YYH1YtuznjEb5hqNmJhVt4OC5K9ZQcBwplTYDVZvGwBaVu5zCya5QVH/s680/Sprite_bottle_drinks_newsheadline247.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="365" data-original-width="680" height="215" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZd6QVMoIklKP60lzTAP2uPF3M51ikMOfoX3mZtelmLXebD0XkH3NsIqSYUyYBs5Joh_rxtuTk32qV6DgQvsYUt97Bhkrk1dmHrL516oWwTKXlGFoyWTtAmnS-orHcGdnG-YYH1YtuznjEb5hqNmJhVt4OC5K9ZQcBwplTYDVZvGwBaVu5zCya5QVH/w400-h215/Sprite_bottle_drinks_newsheadline247.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><div style="text-align: left;"><div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><div class="td-a-rec td-a-rec-id-content_top tdi_77 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><figure class="wp-block-image size-large is-resized" style="box-sizing: border-box; margin: 0px 0px 1em;"><a href="http://chiefsoft.net/" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"></a><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2018/07/chiefsoft-300x91-300x91.png" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"><img alt="" class="wp-image-8444 td-animation-stack-type1-2" height="146" src="https://newsheadline247.com/wp-content/uploads/2018/07/chiefsoft-300x91-300x91.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 695.99px;" width="479" /></a></figure><figure class="wp-block-image" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" src="https://newsheadline247.com/wp-content/uploads/2021/12/Banner.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure>\</div><p class="has-cyan-bluish-gray-background-color has-background" style="background-color: #abb8c3; box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; padding: 1.25em 2.375em;"><em style="box-sizing: border-box;"><strong style="box-sizing: border-box;">Nigerian Bottling Company Limited, Abuja plant has been directed to recall the implicated batch of the unwholesome product and report to NAFDAC for effective monitoring</strong></em></p><p class="has-drop-cap" style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">The National Agency for Food and Drug Administration and Control (NAFDAC) has warned the public of a batch of “unwholesome” Sprite 50cl drink circulating in Nigeria.</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">In a statement on Wednesday, the agency said the contaminated drinks have the batch number AZ6 22:32, a manufacturing date of April 18, 2023, and an expiry date of April 4, 2024.</p><div class="td-a-rec td-a-rec-id-content_inline tdi_76 td_block_template_4" style="box-sizing: border-box; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">NAFDAC said the product was discovered following a consumer complaint and upon investigation, over five crates of the batch were discovered to be contaminated with particles.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“The affected batch of the unwholesome product has been sampled for laboratory analysis in the NAFDAC laboratory and the agency has directed all zonal directors and state coordinators to carry out surveillance and mop up the implicated batch of the unwholesome product,” the statement reads.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Similarly, a comprehensive current Good Manufacturing Practice (cGMP) inspection of the manufacturing site is to be carried out by the agency, this is to find the root cause of the contamination and ensure compliance to marketing authorisation.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Furthermore, the company, (Nigerian Bottling Company Limited, Abuja plant) has been directed to recall the implicated batch of the unwholesome product and report to NAFDAC for effective monitoring.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“NAFDAC implores distributors, retailers, and consumers to exercise caution and vigilance to avoid the consumption, sale, or distribution of the unwholesome product. The products’ authenticity and physical condition should be carefully checked.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Anyone in possession of the above-mentioned batch of Sprite 50cl glass bottles is advised to submit stock to the nearest NAFDAC office. If you, or someone you know, have consumed this product or suffered any adverse reaction/event after consumption, you are advised to seek immediate medical advice from a qualified healthcare professional.”</p><figure class="wp-block-embed is-type-wp-embed is-provider-newsheadline-247 wp-block-embed-newsheadline-247" style="box-sizing: border-box; margin: 0px 0px 1em;"><div class="wp-block-embed__wrapper" style="box-sizing: border-box; position: relative;"><iframe class="wp-embedded-content" data-secret="obMd6skx6l" frameborder="0" height="607" marginheight="0" marginwidth="0" sandbox="allow-scripts" scrolling="no" security="restricted" src="https://newsheadline247.com/fraudsters-hack-globus-banks-system-steal-depositors-n1-7-billion/embed/#?secret=obMd6skx6l" style="box-sizing: border-box; max-width: 100%; width: 695.99px;" title="“Fraudsters hack Globus Bank’s system, steal depositor’s N1.7 billion” — newsheadline247" width="600"></iframe></div></figure><div class="td-a-rec td-a-rec-id-content_bottom tdi_78 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="box-sizing: border-box; color: #4db2ec; outline: 0px;"><img alt="" class="wp-image-33038 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 695.99px;" /></a></figure></div></div><footer style="box-sizing: border-box; clear: both;"><div class="td-post-source-tags" style="box-sizing: border-box; font-family: Georgia, Times, "Times New Roman", serif; font-size: 11px; font-weight: 600;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="background-color: #222222; box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/newsheadline247/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/nigerian-bottling-company/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Nigerian Bottling Company</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/sprite/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Sprite</a></li></ul></div><div class="td-post-sharing-bottom" style="border-color: rgb(237, 237, 237); border-style: solid; border-width: 1px 0px; box-sizing: border-box; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600; margin-bottom: 42px; padding: 21px 0px;"></div></footer></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div></div>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-10431988617457991862023-06-11T15:15:00.003-07:002023-06-11T15:17:30.216-07:00Fraudsters hack Globus Bank’s system, steal depositor’s N1.7 billion<div class="separator" style="clear: both; text-align: left;"><div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><div class="td-a-rec td-a-rec-id-content_top tdi_77 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><figure class="wp-block-image size-large is-resized" style="box-sizing: border-box; margin: 0px 0px 1em;"><span style="color: #4db2ec;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjolce9BYZgNYsa4pW97Jln30PybqF7DYoXQcmk8hGjeRbbpP0OTr981a_QfgSt7-lc0YJIzRJATbWw3vldQ0DNX5hAv6lqgHuqUAgwBa5Bm6dt7xYmpBTyA6nWN1sAmwW6P2MZYdOIucXpzyQqh6Ii51PvORzpCw4Dw7kC4zbcsjjyjNM20puGjg" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="418" data-original-width="696" height="240" src="https://blogger.googleusercontent.com/img/a/AVvXsEjolce9BYZgNYsa4pW97Jln30PybqF7DYoXQcmk8hGjeRbbpP0OTr981a_QfgSt7-lc0YJIzRJATbWw3vldQ0DNX5hAv6lqgHuqUAgwBa5Bm6dt7xYmpBTyA6nWN1sAmwW6P2MZYdOIucXpzyQqh6Ii51PvORzpCw4Dw7kC4zbcsjjyjNM20puGjg=w400-h240" width="400" /></a></div></span></figure><figure class="wp-block-image size-large is-resized" style="box-sizing: border-box; margin: 0px 0px 1em;"><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2018/07/chiefsoft-300x91-300x91.png" style="box-sizing: border-box; color: #4db2ec; outline: 0px;"><img alt="" class="wp-image-8444" height="146" src="https://newsheadline247.com/wp-content/uploads/2018/07/chiefsoft-300x91-300x91.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" width="479" /></a></figure><figure class="wp-block-image" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" src="https://newsheadline247.com/wp-content/uploads/2021/12/Banner.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure>\</div><p class="has-cyan-bluish-gray-background-color has-background" style="background-color: #abb8c3; box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; padding: 1.25em 2.375em;"><em style="box-sizing: border-box;"><strong style="box-sizing: border-box;">Fraudsters took advantage of system glitch in Globus Bank’s USSD application between Monday 6th and Saturday 11th of June 2022 to process several fraudulent and unauthorized electronic transfer</strong></em></p><p class="has-drop-cap" style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Global Bank Limited, one of the new entrants into the Nigerian banking sector, led by Peter Amangbo as chairman and Elias Igbinakenzua as its chief executive officer, is in the news for the wrong reason, according to The Witness newspaper.</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The bank has filed an application before a Lagos high court seeking an order for recovery of a total sum of N962,019,843.35 fraudulently transferred electronically from its vault into accounts domiciled in eight commercial banks.</p><div class="td-a-rec td-a-rec-id-content_inline tdi_76 td_block_template_4" style="box-sizing: border-box; text-align: center;"><span class="td-adspot-title" face="Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif" style="box-sizing: border-box; color: #767676; display: block; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The N962m is part of the total N1,755,376,156.34 transferred from the bank between Monday 6th and Saturday 11th of June 2022. The bank has already recovered the sum of N817,998,969.85 from the accounts of the fraudsters.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The development has however raised concerns as financial analysts say that the bank’s security system may be either weak, poor or not up to industry standard.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">In an affidavit sworn to by the legal officer, Kosisochukwu Ngene, Globus bank said fraudsters took advantage of system glitch in its USSD application between Monday 6th and Saturday 11th of June 2022 to process several fraudulent and unauthorized electronic transfer totalling N1,755,376,156.34 (One Billion, Seven Hundred and Fifty-Five Million, Three Hundred and Seventy-Six Thousand, One Hundred Fifty-Six Naira thirty four kobo.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The bank said 709 people who were its customers were involved in the fraudulent transfer of the funds to accounts domiciled in eight commercial banks.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">It added that immediately it discovered the glitch, it instantaneously notified all the banks involved and requested that the beneficiary accounts be restricted.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">This, Globus Bank said was in line with Central bank of Nigeria regulation to avoid dissipation of the funds fraudulently transferred into the accounts domiciled with the banks.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Subsequently, Globus bank immediately approached the Magistrate Court, in the Yaba Magisterial District and obtained an order directing the banks to freeze and reverse the amount fraudulently transferred into various accounts domiciled in the banks.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“That in response to the order served on the respondents some of the respondents were able to salvage certain sum wherein the total sum of N817,998,969.85 were returned to the bank while the total sum of N962,019,843.35 is still outstanding and yet to be returned to the bank by the respondents banks.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The Excel sheet which contains the names of the respondents the total amount fraudulently transfered from Globus bank,the total amount salvaged and returned to the Globus and the total amount outstanding is analyze was also filed before the court.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Globus Bank said it still requires the order of the high court to enable the other banks to reverse and remit the salvaged funds to it.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">It added that the other banks have requested an order of the high court, to enable them reverse and remit the salvaged funds.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Consequently,Globus bank Limited is seeking the following reliefs from the court.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“An Order of the Court directing all the eight banks to immediately reverse and remit to, Globus bank Limited the total sum of N962,019,843.35 (Nine hundred and sixty two million, nineteen thousand , eight hundred and forty three naira, thirty five kobo), being the outstanding sum yet to be salvaged from the fraudulent transfer into several accounts domiciled with the eight Respondents from the Globus bank 709 customers’ accounts, less depleted sum.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“An order directing the eight commercial banks to release all account information in respect of the destination accounts and the beneficiaries of the transfer funds<br style="box-sizing: border-box;" />“And for such further order(s) as the court may deem fit to make in the circumstances of this case.”</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">The Witness</strong></p><div class="td-a-rec td-a-rec-id-content_bottom tdi_78 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><span class="td-adspot-title" face="Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif" style="box-sizing: border-box; color: #767676; display: block; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXOJkog2nhtPfdCRErn6HP-59Y2ME_TSNcWTn2oQqtprZvq-jyu1eMAOBXtCHLPGJSmoksflILtkBc6cWIKf9PiFAADcexnRValBOOGzdacIpQEg-B52JTXquYs9T2HESioW7vMq7yDDmOX-Fhh4Y2de5nMK6wTwZxN0CmRrHbPtVo_n9TcXxCkw/s460/zenith.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></figure><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"><img alt="" class="wp-image-33038" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 695.99px;" /></a></figure></div></div><footer style="box-sizing: border-box; clear: both; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600;"><div class="td-post-source-tags" style="box-sizing: border-box; font-size: 11px;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="background-color: #222222; box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/fraud/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Fraud</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/globus-bank/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Globus Bank</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/newsheadline247/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li></ul></div></footer></div><br />newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-225629957152806892023-05-24T05:05:00.001-07:002023-05-24T05:05:10.902-07:00Ex-Benue First Lady, Yemisi Suswam Creating Affordable Housing<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuK7XF52QpY-lOYSdl4Md4M3cx5u_AxZbZHUZmdDpM4CEY0VwgvSFeEDXlMF5Ls_zmg4DGkXDUzYD6O-Rgrk7lH2HMDbEjKaAToobRHzE7PhnZzmTB2PqvaEHA_NsDkADJKLOFCQ7Vw-bxbgmypWSRJNQisRixsV0b5Mv8MdcZ4HqZbtri5Zrf6g/s1250/Yemisi_Suswam_newsheadline247.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1250" data-original-width="1000" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuK7XF52QpY-lOYSdl4Md4M3cx5u_AxZbZHUZmdDpM4CEY0VwgvSFeEDXlMF5Ls_zmg4DGkXDUzYD6O-Rgrk7lH2HMDbEjKaAToobRHzE7PhnZzmTB2PqvaEHA_NsDkADJKLOFCQ7Vw-bxbgmypWSRJNQisRixsV0b5Mv8MdcZ4HqZbtri5Zrf6g/w320-h400/Yemisi_Suswam_newsheadline247.jpg" width="320" /></a></div><br /><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><div class="separator" style="clear: both; text-align: left;"><div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">…covers Pleasures Magazine May/June Issue</strong></p><p class="has-drop-cap" style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Pleasures Magazine features the former First Lady of Benue State, North-Central Nigeria, Mrs Yemisi Suswam, on the cover of its May/June 2023 issue.</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Yemisi Suswam, who is also the Managing Director of All Purpose Shelter Limited, a renowned real estate company in Nigeria, speaks extensively with PLEASURES Magazine on the renewed commitment of her firm aimed at providing affordable housing and respite for all Nigerians.</p><div class="td-a-rec td-a-rec-id-content_inlineleft tdi_76 td_block_template_4" style="box-sizing: border-box; float: left; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px; margin-right: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><a href="https://www.zenithbank.com/betalife" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"></a><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2023/02/Zenith-Bank-Yes300x300-3.gif" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"><img alt="" class="wp-image-40405 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2023/02/Zenith-Bank-Yes300x300-3.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s;" /></a></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The need for affordable and qualitative housing has always been a serious concern for most Nigerians, however, considering the bottlenecks in property acquisition, All Purpose Shelter Limited, a leading real estate company in Nigeria has changed the dynamics of the industry and eliminated the bottlenecks in achieving such a feat by creating real estate investment opportunities for individuals and organisations.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">All Purpose Shelter Limited operates as a consortium of Architects, Quantity Surveyors, Structural/Civil Engineers, Mechanical/Electrical Engineers, and all relevant artisans. The Company is an indigenous company registered with the Corporate Affairs Commission on the 29th of April, 1995.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The Company is also affiliated with foreign companies that come in whenever the need arises to boost the technical expertise required especially in mass construction of projects to meet the needs of clients such as corporate bodies, institutions, and individuals in various projects – residential, commercial, and estate development.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The company has delivered cutting-edge and competitive real estate solutions to its valued clients at competitive prices.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">All Purpose Shelter was founded by a visionary leader – Arc. Yemisi Suswam, a woman of impeccable values and of the highest professional ethics. Over a career spanning three decades, she effortlessly combines her strong family values with intuitive business acumen to lead the company that is renowned for its integrity and credibility.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">In an exclusive interview with the PLEASURES Magazine team, Yemisi Suswam gave an extensive breakdown of the company operations, from its strategies and plans to its offers.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">She said: ‘’Our passion is people and projects. As such, our clientele includes Nigerians across every income category from corporate bodies to private individuals; cooperative societies to institutions.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Our primary objective is providing real estate solutions and change the Nigerian skyline one project at a time”. She stated that the major distinguishing factor of the All-Purpose Shelter model from others was a broad spectrum of services that cover various segments of the real estate market which include residential (affordable, intermediate & high-end), commercial (offices), retail (shopping malls, markets) and specialty projects. Which includes about 2000 shops at the Wuye Ultra-Modern Market. The company aims to empower women and the masses by offering affordable prices with flexible payment plans for people interested in acquiring a space at the Wuye Ultra-Modern Market.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“All-Purpose Shelter has continued to grow both in sophistication of its projects and geographically through growth of new markets.” All Purpose Shelter Limited has earned the trust of Nigerians and people in the diaspora for their exceptional architectural design, real estate and construction, consultancy services, interior design, and decoration in Nigeria.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">All Purpose Shelters Limited helps its clients bring their construction ideas to life. We understand that real estate decisions could be very complicated, but that doesn’t have to be your concern. Our team manages the process of evaluating real estate investment choices, while also executing real estate strategies that serve your interest, in every sense. For us at APSL, your needs come first. We take the time to understand your objectives, so we can figure out the most efficient ways to help you achieve that. We house some of Nigeria’s most proficient real estate professionals with in-depth understanding of the construction industry. Our knowledge of the market, regulations, entitlement legalities are constantly available to help you navigate this.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Because All Purpose Shelter Limited is passionate about getting people into homes, we have made it our singular goal to evolve affordable homes without compromising on aesthetics, design or quality, thus, achieving homes that put the client at its very centre. It’s a segment of the market that we have built expertise in which our signature use of the burnt red bricks we are able to produces homes at competitive rates.</p><h4 style="box-sizing: border-box; color: #111111; font-family: Roboto, sans-serif; font-size: 19px; font-weight: 400; line-height: 29px; margin: 24px 0px 14px;">READ ABOUT: <a href="https://newsheadline247.com/peak-milk-offensive-easter-advert-frieslandcampina-apologises-to-christians/" style="box-sizing: border-box; color: #111111; text-decoration-line: none;"><span class="has-inline-color has-vivid-red-color" style="box-sizing: border-box; color: #cf2e2e;">Peak Milk ‘offensive’ Easter advert: FrieslandCampina apologises to Christians</span></a></h4><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Suswam, who is a former first lady of Benue State, North Central Nigeria, emphasized the social advantages of home ownership that lead to better productivity of individuals and in turn lead to a more productive economy.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">According to her, “Owning a home leads to better health, better output and productivity. Providing access to water, sanitation and other physical and social infrastructure are our main priorities in all our estates. Regarding financial benefits, home ownership provides the opportunity for individuals to unlock several financial resources such as access to loans that could be used to fund your dreams. During our interaction with clients we identified there was great reluctance for the average Nigerian to access mortgages, most would prefer to save over a long period of time and wait to own a home.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">SOURCE<br style="box-sizing: border-box;" />Pleasures Magazine</p><figure class="wp-block-embed is-type-wp-embed is-provider-newsheadline-247 wp-block-embed-newsheadline-247" style="box-sizing: border-box; margin: 0px 0px 1em;"><div class="wp-block-embed__wrapper" style="box-sizing: border-box; position: relative;"><iframe class="wp-embedded-content" data-secret="C4i6HRPSsl" frameborder="0" height="581" marginheight="0" marginwidth="0" sandbox="allow-scripts" scrolling="no" security="restricted" src="https://newsheadline247.com/skit-maker-kiekie-reveals-why-she-dropped-her-job-for-comedy/embed/#?secret=C4i6HRPSsl" style="box-sizing: border-box; max-width: 100%; width: 695.99px;" title="“Skit maker KieKie reveals why she dropped her job for comedy” — newsheadline247" width="600"></iframe></div></figure><div class="td-a-rec td-a-rec-id-content_bottom tdi_78 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><a href="https://www.zenithbank.com/betalife" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"></a><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2023/02/Zenith-Bank-Yes300x300-3.gif" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"><img alt="" class="wp-image-40405 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2023/02/Zenith-Bank-Yes300x300-3.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 695.99px;" /></a></figure><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"><img alt="" class="wp-image-33038 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 695.99px;" /></a></figure></div></div><footer style="box-sizing: border-box; clear: both; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600;"><div class="td-post-source-tags" style="box-sizing: border-box; font-size: 11px;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="background-color: #222222; box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/all-purpose-shelter/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">All Purpose Shelter</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/newsheadline247/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/yemisi-suswam/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Yemisi Suswam</a></li></ul></div></footer></div></blockquote><br /> <p></p>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-63191284739828922832023-05-23T14:55:00.003-07:002023-05-23T14:55:26.811-07:00<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg40R9z0LK80yerZUpBV4hJGq5fxnXVHzkA4q4U8P8ykBex4VFLoRASRkbz4YLAXV73Nsl6f7mL9S_el2yorErt5gFg18PVDVvEJ1ZYM8Pg19p6MR631XFDrVUcwSnkjNJFDY10eKorHF2DZyfMNYOjw2SCmlaFjoNUh8odszRZLC38ZIX0KePbCg/s225/Bright_Waters_newsheadline247.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="225" data-original-width="225" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg40R9z0LK80yerZUpBV4hJGq5fxnXVHzkA4q4U8P8ykBex4VFLoRASRkbz4YLAXV73Nsl6f7mL9S_el2yorErt5gFg18PVDVvEJ1ZYM8Pg19p6MR631XFDrVUcwSnkjNJFDY10eKorHF2DZyfMNYOjw2SCmlaFjoNUh8odszRZLC38ZIX0KePbCg/w400-h400/Bright_Waters_newsheadline247.jpeg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: left;"><p class="has-drop-cap" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">The Federal High Court sitting in Lagos on Tuesday adjourned till June 15 a suit seeking the winding up of an oil firm, Eroton Exploration & Production Company Limited for its alleged inability to pay Brightwaters Energy Limited a judgment debt of $20 million.</strong></p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Justice Akintayo Aluko fixed the date following an application by the petitioner, Brightwaters Energy Limited, through its counsel Mr. Olu Aju .</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Mr. Aju told the judge that the motion for the winding up application was ripe for hearing.</p><div class="td-a-rec td-a-rec-id-content_inlineleft tdi_76 td_block_template_4" style="box-sizing: border-box; color: #222222; float: left; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px; margin-right: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><a href="https://www.zenithbank.com/betalife" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"></a><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2023/02/Zenith-Bank-Yes300x300-3.gif" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"><img alt="" class="wp-image-40405 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2023/02/Zenith-Bank-Yes300x300-3.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s;" /></a></figure></div><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">But the respondent’s counsel Ugochukwu Okocha sought an adjournment on the ground that his principal, Mr Wale Akoni (SAN), was keen to argue the case personally.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Granting Okocha’s application, Justice Aluko adjourned for hearing of the motion to advertise the winding up of Eroton Exploration & Production Company Ltd</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The petitioner, in its motion on notice of March 21, 2023 in suit FHC/L/C8/491/2022, is seeking a single relief.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“An order granting leave to the Petitioner, BRIGHTWATERS ENERGY LIMITED, to advertise the winding up Petition herein in the Federal Goverment Official Gazette, one national daily newspaper and other newspaper circulating in Lagos State, where the registered office and principal place of business of the respondent is situated or in such other newspaper as the court may direct.”</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The grounds upon which Brightwaters made the application are that “the respondent is insolvent, has insufficient assets to meet its liabilities and has failed to liquidate indebtedness to the petitioner.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“The 21 days statutory demand notice within the meaning of Section 572 (1) of Companies and Allied Matters Act 2020 has since been issued to the respondent and same has elapsed.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Notwithstanding the statutory demand notice within the meaning of Section 572 (1) of Companies and Allied Matters Act, 2020, the respondent has refused, failed and/or neglected to defray the debts owed to the Petitioner.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“It is in the public interest that the advertisement of the winding up petition be made.”</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">But the respondent opposed the winding up petition via a preliminary objection dated May 3.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">It prayed for “an order dismissing/striking out the instant petition for lack of jurisdiction.”</p><figure class="wp-block-embed is-type-wp-embed is-provider-newsheadline-247 wp-block-embed-newsheadline-247" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; margin: 0px 0px 1em;"><div class="wp-block-embed__wrapper" style="box-sizing: border-box; position: relative;"><iframe class="wp-embedded-content" data-secret="SIihwuk4FD" frameborder="0" height="630" marginheight="0" marginwidth="0" sandbox="allow-scripts" scrolling="no" security="restricted" src="https://newsheadline247.com/alleged-fraud-efcc-re-arrests-mompha-for-n6-billion-money-laundering/embed/#?secret=SIihwuk4FD" style="box-sizing: border-box; max-width: 100%; width: 695.99px;" title="“Alleged Fraud: EFCC re-arrests Mompha for N6 billion money laundering” — newsheadline247" width="600"></iframe></div></figure></div><br />newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-69574455552533763792023-05-13T07:28:00.003-07:002023-05-13T07:28:31.533-07:00Wasiu Sowami completes acquisition of Ardova Plc, pays $19m to Femi Otedola<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0Rd8W12be_CSEALlACDK_N7bs6jtpiFI6_5lOReHOYSSAP1X51JZ1C-XEUwLKx_wKKPIk2BIhYVB7z0LSdQWaMLMWrEwSnjpQl3TcStgWx-dP0tJWD9emw4fsSimOsQI8u0bOmNVvYKH-wu78PkVLAuPcWzhAe2fVEmP6rHBvidlYAOGOMR9abw/s615/Sowami_Otedola_newsheadline247.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="476" data-original-width="615" height="310" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0Rd8W12be_CSEALlACDK_N7bs6jtpiFI6_5lOReHOYSSAP1X51JZ1C-XEUwLKx_wKKPIk2BIhYVB7z0LSdQWaMLMWrEwSnjpQl3TcStgWx-dP0tJWD9emw4fsSimOsQI8u0bOmNVvYKH-wu78PkVLAuPcWzhAe2fVEmP6rHBvidlYAOGOMR9abw/w400-h310/Sowami_Otedola_newsheadline247.png" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: left;"><p class="has-cyan-bluish-gray-background-color has-background" style="background-color: #abb8c3; box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; padding: 1.25em 2.375em;"><em style="box-sizing: border-box;"><strong style="box-sizing: border-box;">Ardova has maintained her market position post-acquisition and is now undoubtedly Nigeria’s largest downstream petroleum marketing company</strong></em></p><p class="has-drop-cap" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">AbdulWasiu Sowami, chairman of Ardova Plc, has completed the acquisition of the oil company from fellow Nigerian billionaire businessman, Femi Otedola</strong></p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The chairman has also settled a $19 million arbitration ruled in favour of the billionaire, according to ThisDay <a href="https://www.thisdaylive.com/index.php/2023/05/12/sowami-completes-acquisition-of-ardova-pays-otedola-19m/amp/" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;">reports</a>.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Mr Sowami acquired the company through a Special Purpose Vehicle (SPV) -Ignite Investment and Commercial Limited (IICL) in 2020.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Although, a report alleged that Sowami had instituted arbitration proceedings seeking to avoid the payment of the balance of $20 million due to Otedola following his acquisition of Ardova in 2020.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">However, the arbitration ruled in favour of Otedola with the award of $19 million against Sowami.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“The good news is that following several payments in instalments. Wasiu has completed the payment of the arbitrary award, net of certain deductions ahead of the June 2023 deadline. The total payment of the balance is, in the sum of $19 million approximately, thus completing the acquisition.”</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">An investigation revealed that Ignite Investments and Commercial Limited in the 2021 financial year of Ardova had 970,666,694 shares with 74.06 per cent Holding. The company in its unaudited financial year ended December 31, 2022 declared N7.61 billion loss as against N3.85 billion loss reported in the 2021 financial year amid a hike in the cost of sales and finance costs.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Ardova reported N5.05 billion finance cost in 2022, an increase of 41 per cent from N3.58billion in 2021FY, while cost of sales hits N226.9billion in 2022 unaudited, a growth of 18.4 per cent from N191.59billion reported in 2021. Ardova, formerly Forte Plc, a company Otedola successfully turned around through, strong leadership, and immense value accretion by consistently increasing her market capital, shareholder’s funds and dividend payment in folds for over a decade.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">It was this value accretion that made Ardova market leader, pre and post-acquisition. Otedola was however delighted that Ardova has maintained her market position post-acquisition and is now undoubtedly Nigeria’s largest downstream petroleum marketing company.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">However, the name, Wasiu Sowami, made a grand entry into the ears of many Nigerians a couple of years ago when he was announced as the man behind Prudent Energy & Services Limited, which acquired Femi Otedola’s divested shares in Forte Oil. “Who is Wasiu Sowami?” became an assignment to be unravelled by the media and the business society which had no clue who this supposedly greenhorn was.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">It has been a winning season for Otedola whose audacious bid to acquire majority stake in Nigerian conglomerate, Transnational Corporation Plc, for N250bn with a view to shoring up its valuation to N2 trillion, was truncated by his supposed friend, Tony Elumelu.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Days after increasing his substantial shareholding to 6.3 per cent, a haul of 2.6 billion shares bought in separate transactions, Otedola divested his stake in Transcorp to Tony Elumelu, therefore pulling the plug on the scramble for the top ownership of the group.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Earlier, within days of his acquisition of a substantial shareholding, Mr Elumelu had racked up his interest from 2.07 to 25.9 per cent.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Transcorp shares, which had gained 173 per cent from the start of the year, slumped 9.9 per cent on the Nigerian Exchange (NGX) in Lagos.</p><p style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Otedola’s move to take the peak spot in the conglomerate’s ownership upset the Elumelu, prompting him to open talks. Elumelu eventually agreed to compensate the businessman with millions of dollars, according to sources.</p><figure class="wp-block-embed is-type-wp-embed is-provider-newsheadline-247 wp-block-embed-newsheadline-247" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; margin: 0px 0px 1em;"><div class="wp-block-embed__wrapper" style="box-sizing: border-box; position: relative;"><iframe class="wp-embedded-content" data-secret="Hv1DscHLrO" frameborder="0" height="609" marginheight="0" marginwidth="0" sandbox="allow-scripts" scrolling="no" security="restricted" src="https://newsheadline247.com/zenith-banks-landmark-%e2%82%a6100-47-billion-dividend-payout-excites-shareholders/embed/#?secret=Hv1DscHLrO" style="box-sizing: border-box; max-width: 100%; width: 695.99px;" title="“Zenith Bank’s Landmark ₦100.47 Billion Dividend Payout Excites Shareholders” — newsheadline247" width="600"></iframe></div></figure></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px; text-align: center;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; margin: 0px 0px 1em; text-align: center;"><a href="https://www.zenithbank.com/betalife" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"></a><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2023/02/Zenith-Bank-Yes300x300-3.gif" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"><img alt="" class="wp-image-40405 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2023/02/Zenith-Bank-Yes300x300-3.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 695.99px;" /></a></figure><figure class="wp-block-image size-large" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; margin: 0px 0px 1em; text-align: center;"><a class="td-modal-image" href="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="box-sizing: border-box; color: #4db2ec; outline: 0px;"><img alt="" class="wp-image-33038 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 695.99px;" /></a></figure><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br />newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-91309976464020802882023-04-18T15:18:00.009-07:002023-04-18T15:18:58.647-07:00Exxon Mobil Chairman, Richard Laing’s gross exploitation of Nigerians uncovered<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9xFWfYslmKLg71teL0F5Sjk1XE3J7AceFosX9iwy5F92hOta8b97DE9_PCjckdHVcZ0_CoET4B1Cd0O6G4iUI3OjBwDp78z7bVLvKTxwkWFiCtDA_P-4R8irGUAry4Kg7v3UFmi8BRXaftN4kPK9QuIFqG3iAe0Nzu9R78ZjaVhU3UxOgDIhiGA/s618/Richard%20Laing.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="618" data-original-width="551" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9xFWfYslmKLg71teL0F5Sjk1XE3J7AceFosX9iwy5F92hOta8b97DE9_PCjckdHVcZ0_CoET4B1Cd0O6G4iUI3OjBwDp78z7bVLvKTxwkWFiCtDA_P-4R8irGUAry4Kg7v3UFmi8BRXaftN4kPK9QuIFqG3iAe0Nzu9R78ZjaVhU3UxOgDIhiGA/w356-h400/Richard%20Laing.png" width="356" /></a></div><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><div class="separator" style="clear: both; text-align: left;"><p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">He has barely spent three years as Chairman & Managing
Director of ExxonMobil affiliate Companies in Nigeria, but Richard Liang’s
catalogue of atrocities including abuse of court processes and gross
exploitation of Nigerians will make anyone shudder.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">About six months into his headship of Exxonmobil affiliate
companies like Mobil Producing Nigeria Unlimited, Esso Exploration and
Production Nigeria Limited, Esso Exploration and Production Nigeria (Offshore
East) Limited, a federal high court in Abuja ordered Laing’s arrest after the
Economic and Financial Crimes Commission, EFCC, argued that he refused to
appear over an investigation into an alleged fraudulent pipeline project
concerning his company. Liang’s portfolio covers<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The EFCC said the investigation related to the alleged
fraudulent creation of procurement orders worth more than $213 million as part
of a pipelines project. Justice Okon Abang of the Federal High Court compelled
Laing to appear before anti-graft investigators. Typically, not much was heard
about the case again.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">In the industry, however, tales abound of Laing’s oppressive
and draconian leadership, and corrupt practices. Matters have now got to a head
as the Petroleum & Natural Gas Senior Staff Association of Nigeria
(PENGASSAN) Mobil Producing Nigeria Branch, has downed tools.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">A communiqué issued by the workers’ union last Wednesday
highlighted some of the Laing-led management’s atrocities to include;
“Unilateral implementation of company processes against CBA provisions, abuse
of agreed disciplinary procedures, insistent on a 28/28 rota schedule as a
basis to negotiate, forced requirement to shift early retirement age to 50
years of age/15 years of service against industry practice and even when they
have concluded to divest, and refusal to address the worsening personnel
manning levels.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Other transgressions as listed in the communiqué include;
“Refusal to address the health-threatening catering issues and living
conditions in Field locations, dilapidated facilities, lack of will to conclude
negotiations, imposition of expats ex-service men as security personnel against
the requirement of the Nigerian State, non-implementation of three out of four
resolutions reached at the mediation by NUIMS in Abuja on September 13, 2022.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The union stated that all efforts to mediate failed due to
“management’s deliberate refusal to follow reasonable guide from well-meaning
Nigerians including mediation from National PENGASSAN and the NNPC Upstream
Investment Management Services (NUIMS) Limited to redress above listed
matters.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">To underscore its seriousness, the joint leadership of the
Branch Executive Council (BEC) and Chapter Executive Councils (CEC) met and
issued a 7-day warning, which lapsed Thursday, April 12. Should the management
not soften its stance or address the allegations highlighted, the union
instructed fellow workers not to log on to their system to do any company work
whether at home or in their office locations, and that all maintenance folks
should not submit any maintenance report nor render any service.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">Further, “Stop all contractor work, projects and vacate them
from worksite; this includes foreign expat and local contractors in all
departments and most especially in field work locations.<br />
“All Field and Console operators should not participate in any of the
following: daily report, energy component, production reports, meetings, and
any other report. All field-based office workers should not log on to their
system to do any company work.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">“All members shall withdraw services in Lagos, Abuja, Eket,
QIT field office locations, Joint Venture Operations (JVO) / Offshore locations
and Deepwater Operations covering Erha and Usan. No member should participate
in Export and Offloading activities.”<br />
As you read, the Scotland-born Laing has still not addressed the agitations of
the workers.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">The Capital NG<o:p></o:p></span></p></div></blockquote></blockquote><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br />newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-12584057938619626742022-12-13T00:17:00.000-08:002022-12-13T00:17:17.120-08:00NSITF MD, Akabogu in NYSC certificate forgery scandal, police commence probe<div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: left;"><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEglLrFAePgsXUQh5T52nDOZdfjpD75TDS-qjSdbd7Cuy-Uoy2f9AX7xqp0EImdZL2jmsZzK-9Qd7iik9XGxT0RMP_BYGaojbD_qjET7LL4XdC-WZ9ogxvSRhxu_lDTZ3J8XU6xaOtibuSvgQdfz3I3ttY5a4kckb4SaThkN1SLUZNlNzs7LSsXNfw" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="221" data-original-width="400" height="177" src="https://blogger.googleusercontent.com/img/a/AVvXsEglLrFAePgsXUQh5T52nDOZdfjpD75TDS-qjSdbd7Cuy-Uoy2f9AX7xqp0EImdZL2jmsZzK-9Qd7iik9XGxT0RMP_BYGaojbD_qjET7LL4XdC-WZ9ogxvSRhxu_lDTZ3J8XU6xaOtibuSvgQdfz3I3ttY5a4kckb4SaThkN1SLUZNlNzs7LSsXNfw" width="320" /></a></div><br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEj8XoZH2jV0lGPoriJ8RiDA3fqPhCXPKeBAsQUqnhMuS1vtMPHqxJ4uglfbED0ytUNBXJSj0P2-0Tirsmfyw-DePYA5x8cxZr8vg3ojVrtgWYvdD7gMjn-4ctJB14VTk8MhA3rvueKsGB9KyNn1Yy82i-rJqNcXbJfQzYwzKHYClFmzmS6yF8AGDQ" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="91" data-original-width="300" height="97" src="https://blogger.googleusercontent.com/img/a/AVvXsEj8XoZH2jV0lGPoriJ8RiDA3fqPhCXPKeBAsQUqnhMuS1vtMPHqxJ4uglfbED0ytUNBXJSj0P2-0Tirsmfyw-DePYA5x8cxZr8vg3ojVrtgWYvdD7gMjn-4ctJB14VTk8MhA3rvueKsGB9KyNn1Yy82i-rJqNcXbJfQzYwzKHYClFmzmS6yF8AGDQ" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: left;"><div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><p class="has-drop-cap" style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Dr Michael Akabogu, the managing director/chief executive of the Nigeria Social Insurance Trust Fund, (NSITF), is currently enmeshed in an alleged National Youths Service Corps (NYSC) certificate forgery scandal.</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">This comes even as the Nigeria Police Force (NPF) has summoned the NSITF boss for investigation.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">In a petition to the Police by a whistleblower, the NSITF boss was accused of allegedly parading a fake NYSC Discharge Certificate with Number: A030544.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">According to the petition, Akabogu claimed he was mobilised for the compulsory one-year national service, vide NO. OG/ FUTO/ 91/23402 for the first Batch, from October 4, 1991 to October 2, 1992.</p><div class="td-g-rec td-g-rec-id-content_inline tdi_76 td_block_template_4 " style="box-sizing: border-box;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px; text-align: center;">Advertisement</span><ins class="adsbygoogle" data-ad-client="ca-pub-2535944722261720" data-ad-slot="5290983065" style="background: rgb(255, 255, 255); box-sizing: border-box; display: inline-block; height: 60px; left: 348px; margin-bottom: 21px; position: relative; text-decoration-line: none; transform: translateX(-50%); width: 468px;"></ins></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Meanwhile, the invitation letter issued on December 8, 2022 and copied the Minister of Labour and Employment, the Police said it was investigating a case of criminal complaint against the NSTIF Managing Director.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The letter reads, “The Nigeria Police Force, Utako Division FCT, Abuja is investigating a case of criminal complaint in which your name featured prominently.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“In view of above, it is requested that you should report to the above office on 12th December, 2022, at approximately 11.00hours in furtherance to the above complaint.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“This is a fact finding mission and your presence is important.”</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">However, a Police source, who is privy to the matter, confided in our correspondent that a discreet investigation was carried out upon the receipt of the petition against Akabogu.</p><h4 class="has-pale-cyan-blue-background-color has-background" style="background-color: #8ed1fc; box-sizing: border-box; color: #111111; font-family: Roboto, sans-serif; font-size: 19px; font-weight: 400; line-height: 29px; margin: 24px 0px 14px; padding: 1.25em 2.375em;">READ <a href="https://newsheadline247.com/breach-of-contracts-greenville-lng-risks-another-multi-million-dollar-lawsuit/" style="background-color: transparent; box-sizing: border-box; color: #111111; text-decoration-line: none;"><strong style="box-sizing: border-box;"><span class="has-inline-color has-vivid-red-color" style="box-sizing: border-box; color: #cf2e2e;">Breach of Contracts: Greenville LNG Risks Another Multi-million Dollar Lawsuit</span></strong></a></h4><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">He said, “when the petition was submitted, a crack team was raised to investigate the matter and subsequently a letter was written to the NYSC to confirm the authenticity of the Certificate. So he was invited for questioning on the strength of our findings.”</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Furthers details indicated that the NYSC Certificate with Number: A030544 allegedly paraded by the NSITF boss was not issued by the National Youth Service Corps (NYSC).</p><div class="wp-block-image" style="box-sizing: border-box; margin-bottom: 1em;"><figure class="aligncenter" style="box-sizing: border-box; clear: both; display: table; margin: 6px auto 0px; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEinKMQ2oCfdYV0ugeNXi01Au9mdoDWSlxC38YKVaAMYU6xtZ-gqotsstWjRnsrqBK-3EhwVw5-f1o1gWH4fPRJkfDGPg1LckIwF2wsZ5Bm_pfz00DCj16IBifZzr7_Gubf063Q6CO5f9W9V_JJnLNvhV4xOrVUJCUsTplyBStHXI3GI2WIIGBlu1g/s626/Image_doc1.png" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"><img alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEinKMQ2oCfdYV0ugeNXi01Au9mdoDWSlxC38YKVaAMYU6xtZ-gqotsstWjRnsrqBK-3EhwVw5-f1o1gWH4fPRJkfDGPg1LckIwF2wsZ5Bm_pfz00DCj16IBifZzr7_Gubf063Q6CO5f9W9V_JJnLNvhV4xOrVUJCUsTplyBStHXI3GI2WIIGBlu1g/w482-h640/Image_doc1.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 472px;" /></a></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">NYSC in a letter of response with reference number: NYSC/CCD/VER/10/S.1/VOL/07 and addressed to the Assistant Inspector General of Police, Divisional Police Headquarters, the Nigeria Police Force, Utako Division, FCT Command, Abuja, said it did not issue the Certificate.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The letter signed by the Acting Director, Corps Certification, Ibrahim A.M, reads in part, “your letter Re: Case of forgery involving a Corps member, Akabugu Michael C. with State Code No. OG/FUTO/91/23402</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Your letter Ref. No: CR:3000/FCT/UT/VOL.10/69 dated 3rd November, 2022 on the above subject refers, please.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“I wish to inform you that the Certificate of National Service belonging to Akabugu Michael C with Certificate number: A030544 forwarded for verification was not issued by the NYSC.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“However, you are requested to retrieve the original Certificate for onward submission to the NYSC.”</p><div class="wp-block-image" style="box-sizing: border-box; margin-bottom: 1em;"><figure class="aligncenter" style="box-sizing: border-box; clear: both; display: table; margin: 6px auto 0px; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjoHt2o3GHzObGo41LSDoj6euvepivySiZMx9yxnMVsn1oQclCEAsoOnnZIutD886aJtzrjuZX55Foz-0ofZij4yB9Lilz0qK3Kj3eNOWIZSxD2qKMzS6Xv8oKs5v4B5RS4t8DYrrdWFaPuVYueqkG_bhaKmUqn5jACJXwdxC_sDSAa2VZT_6OozA/s619/Image_doc.png" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"><img alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjoHt2o3GHzObGo41LSDoj6euvepivySiZMx9yxnMVsn1oQclCEAsoOnnZIutD886aJtzrjuZX55Foz-0ofZij4yB9Lilz0qK3Kj3eNOWIZSxD2qKMzS6Xv8oKs5v4B5RS4t8DYrrdWFaPuVYueqkG_bhaKmUqn5jACJXwdxC_sDSAa2VZT_6OozA/w474-h640/Image_doc.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 459px;" /></a></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Confirming the Police invitation, the spokesperson of the FCT Command, Josephine Adeh, said the Commissioner of Police, Sunday Babaji, ordered a discreet investigation on the complaint.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">She said, “we invited him, there was a letter of complaint to the Commissioner of Police by the NYSC, so you know when they write such letters, the Police has to investigate, that was the essence of the invitation to come and explain, they said the Certificate is forged.”</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Meanwhile, efforts to reach the NSTIF boss for reaction were abortive as several phone calls placed to his phone line were unanswered and also he didn’t reply the text messages sent to him as at press time.</p><figure class="wp-block-embed is-type-wp-embed is-provider-newsheadline-247 wp-block-embed-newsheadline-247" style="box-sizing: border-box; margin: 0px 0px 1em;"><div class="wp-block-embed__wrapper" style="box-sizing: border-box; position: relative;"><iframe class="wp-embedded-content" data-secret="UaN7YEBXCM" frameborder="0" height="609" marginheight="0" marginwidth="0" sandbox="allow-scripts" scrolling="no" security="restricted" src="https://newsheadline247.com/details-how-ibom-air-delayed-lagos-abuja-flight-for-6-hours-threatened-arrest-of-aggrieved-passenger-report/embed/#?secret=UaN7YEBXCM" style="box-sizing: border-box; max-width: 100%; width: 696px;" title="“Details: How Ibom Air delayed Lagos-Abuja flight for 6 hours, threatened arrest of aggrieved passenger –Report” — newsheadline247" width="600"></iframe></div></figure><div class="td-g-rec td-g-rec-id-content_bottom tdi_78 td_block_template_4 " style="box-sizing: border-box; clear: both;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px; text-align: center;">Advertisement</span><ins class="adsbygoogle" data-ad-client="ca-pub-2535944722261720" data-ad-slot="5290983065" style="background: rgb(255, 255, 255); box-sizing: border-box; display: inline-block; height: 60px; left: 348px; margin-bottom: 21px; position: relative; text-decoration-line: none; transform: translateX(-50%); width: 468px;"></ins></div></div><footer style="box-sizing: border-box; clear: both;"><div class="td-post-source-tags" style="box-sizing: border-box; font-family: Georgia, Times, "Times New Roman", serif; font-size: 11px; font-weight: 600;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="background-color: #222222; box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/forgery-2/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">#forgery</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/micheal-akabogu/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Micheal Akabogu</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/newsheadline247/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/nigeria-police-force/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Nigeria Police Force</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/nigeria-social-insurance-trust-fund/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Nigeria Social Insurance Trust Fund</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/nsitf/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">NSITF</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/nysc/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">NYSC</a></li></ul></div><div class="td-post-sharing-bottom" style="border-color: rgb(237, 237, 237); border-style: solid; border-width: 1px 0px; box-sizing: border-box; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600; margin-bottom: 42px; padding: 21px 0px;"></div></footer></div></div><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-32745922510296122022-10-29T10:02:00.004-07:002022-10-29T10:02:32.501-07:00$20m Fraud: US Court sentences Allen Onyema’s alleged conspirator to three years probation<div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVkVxGs-wfAkD_yVE8G4BrDMD48hSSHd8M49vA3nAV8eRr114SblotYxDwbkaVCWrW7-awBljsbavNXjBNLyvY5c6BJT9oU25GhjhDw52_TOHhkI-j3XV7tq7z6BktdbKKC-pMklnZttK21BFRtUcQbtG-5qD3eRMrUqkroz_4qK4PQpv9ZkZc1g/s960/Air-Peace-CEO-Allen-Onyema-newsheadline247.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="570" data-original-width="960" height="238" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVkVxGs-wfAkD_yVE8G4BrDMD48hSSHd8M49vA3nAV8eRr114SblotYxDwbkaVCWrW7-awBljsbavNXjBNLyvY5c6BJT9oU25GhjhDw52_TOHhkI-j3XV7tq7z6BktdbKKC-pMklnZttK21BFRtUcQbtG-5qD3eRMrUqkroz_4qK4PQpv9ZkZc1g/w400-h238/Air-Peace-CEO-Allen-Onyema-newsheadline247.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: left;"><div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><div class="td-a-rec td-a-rec-id-content_top tdi_63 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><figure class="wp-block-image size-large is-resized" style="box-sizing: border-box; margin: 0px 0px 1em;"><a href="http://chiefsoft.net/" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"><img alt="" class="wp-image-8444 td-animation-stack-type1-2" height="169" src="https://newsheadline247.com/wp-content/uploads/2018/07/chiefsoft-300x91-300x91.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 696px;" width="557" /></a></figure><figure class="wp-block-image" style="box-sizing: border-box; margin: 0px 0px 1em;"><br /></figure></div><p class="has-drop-cap" style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">A United States court on Friday <a href="https://newsheadline247.com/20m-fraud-air-peace-founder-allen-onyemas-co-conspirator-to-be-sentenced-october-28-us-court/" rel="noreferrer noopener" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank">sentenced</a> a self-confessed conspirator in the alleged $20 million fraud allegedly organised by Air Peace CEO, Allen Onyema, to three years probation.</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The court also awarded $4,000 as a fine against Ebony Mayfiled, who, in June, pleaded guilty to the charge of signing and submitting fake documents to facilitate the alleged fraud.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The US government accused her of signing and submitting the fabricated documents between 2016 and 2018, to help Mr Onyema, owner of Air Peace, a major Nigerian commercial airline, to move $20 million from Nigeria to the US in an alleged money laundering scheme.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">She was charged in 2019, and she initially pleaded “not guilty” to all eight charges at the District Court for the Northern District of Georgia in Atlanta.</p><div class="td-a-rec td-a-rec-id-content_inline tdi_62 td_block_template_4" style="box-sizing: border-box; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image" style="box-sizing: border-box; margin: 0px 0px 1em;"><a href="https://gaim.fidelitybank.ng/" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"><img alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh1OSg6PJTD5gdkba9gjrehwmV94UTJ51AMjO0RSa4U7JK9I3HmXlh6d6Fj9CCpxMbZ4szv1Ojtv7H62s935LBTc8c41_EEdER2RdYRNBYJdsghu4sMDcqNF2_cK2wO84DFMqUmHbecQcME4ja7KpG7k-pb9bsNvm-3bIPqKHo1ciJv9vytCQ0MxQ/w640-h80/Fidelity.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 696px;" /></a></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">But she changed her plea to plead guilty to one of the charges in June, after entering into a plea agreement that saw the US government drop the seven remaining charges against her.</p><h4 class="has-pale-cyan-blue-background-color has-background" style="background-color: #8ed1fc; box-sizing: border-box; color: #111111; font-family: Roboto, sans-serif; font-size: 19px; font-weight: 400; line-height: 29px; margin: 24px 0px 14px; padding: 1.25em 2.375em;">READ ALSO <a href="https://newsheadline247.com/20m-fraud-air-peace-founder-allen-onyemas-co-conspirator-to-be-sentenced-october-28-us-court/" style="background-color: transparent; box-sizing: border-box; color: #111111; text-decoration-line: none;"><span class="has-inline-color has-vivid-red-color" style="box-sizing: border-box; color: #cf2e2e;">$20m Fraud: Air Peace founder Allen Onyema’s co-conspirator to be sentenced October 28 – US Court</span></a></h4><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The law under which she was charged provided for maximum five years jail term for the offence she pleaded guilty to.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Following her guilty plea, her lawyer filed for a variance of sentence on 13 October, begging to be sentenced to a probated sentence or what is called supervised release, instead of imprisonment.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The US government, reportedly earlier, in its response agreed to a lower limit of sentence range, which includes house detention for six months.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">At the sentencing on Friday, the judge, Eleanor Ross, after discussing the pre-sentence report with lawyers to the parties, and listening to Ms Mayfield briefly, imposed “a total of THREE (3) YEARS of probation” on her.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Source <strong style="box-sizing: border-box;">Premium Times</strong></p><figure class="wp-block-embed is-type-wp-embed is-provider-newsheadline-247 wp-block-embed-newsheadline-247" style="box-sizing: border-box; margin: 0px 0px 1em;"><div class="wp-block-embed__wrapper" style="box-sizing: border-box; position: relative;"><iframe class="wp-embedded-content" data-secret="2VxZuoPZ3p" frameborder="0" height="609" marginheight="0" marginwidth="0" sandbox="allow-scripts" scrolling="no" security="restricted" src="https://newsheadline247.com/2023-peter-obi-cannot-win-obidients-will-soon-run-out-of-steam-says-gov-obaseki/embed/#?secret=2VxZuoPZ3p" style="box-sizing: border-box; max-width: 100%; width: 696px;" title="“2023: Peter Obi cannot win, Obidients will soon run out of steam, says Gov. Obaseki” — newsheadline247" width="600"></iframe></div></figure><div class="td-a-rec td-a-rec-id-content_bottom tdi_64 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" class="wp-image-33038 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 696px;" /></figure></div></div><footer style="box-sizing: border-box; clear: both; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600;"><div class="td-post-source-tags" style="box-sizing: border-box; font-size: 11px;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="background-color: #222222; box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/20mfraud/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">#$20mFraud</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/air-peace-2/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">#Air Peace</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/airpeace/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">#AirPeace</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/allenonyema/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">#AllenOnyema</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/newsheadline247/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li></ul></div><div class="td-post-sharing-bottom" style="border-color: rgb(237, 237, 237); border-style: solid; border-width: 1px 0px; box-sizing: border-box; margin-bottom: 42px; padding: 21px 0px;"><div class="td-post-sharing-classic" style="box-sizing: border-box; height: 20px; position: relative;"><iframe frameborder="0" src="https://www.facebook.com/plugins/like.php?href=https://newsheadline247.com/20m-fraud-us-court-sentences-allen-onyemas-alleged-conspirator-to-three-years-probation/&layout=button_count&show_faces=false&width=105&action=like&colorscheme=light&height=21" style="border-style: none; border-width: initial; box-sizing: border-box; height: 21px; overflow: hidden; width: auto;"></iframe></div><div class="td-post-sharing td-ps-bg td-ps-notext td-post-sharing-style1 " id="td_social_sharing_article_bottom" style="box-sizing: border-box; font-family: "Open Sans", "Open Sans Regular", sans-serif; margin: 15px -3px -7px; opacity: 1; transition: opacity 0.3s ease 0s; white-space: nowrap; z-index: 2;"><div class="td-post-sharing-visible" style="box-sizing: border-box; display: inline-block;"><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-facebook" href="https://www.facebook.com/sharer.php?u=https%3A%2F%2Fnewsheadline247.com%2F20m-fraud-us-court-sentences-allen-onyemas-alleged-conspirator-to-three-years-probation%2F" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Facebook"><div class="td-social-but-icon" style="background-color: #516eab; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-facebook" style="box-sizing: border-box; display: inline-block; font-size: 14px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-twitter" href="https://twitter.com/intent/tweet?text=%2420m+Fraud%3A+US+Court+sentences+Allen+Onyema%E2%80%99s+alleged+conspirator+to+three+years+probation&url=https%3A%2F%2Fnewsheadline247.com%2F20m-fraud-us-court-sentences-allen-onyemas-alleged-conspirator-to-three-years-probation%2F&via=https%3A%2F%2Ftwitter.com%2F247_news%3Fs%3D08" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Twitter"><div class="td-social-but-icon" style="background-color: #29c5f6; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-twitter" style="box-sizing: border-box; display: inline-block; font-size: 12px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-pinterest" href="https://pinterest.com/pin/create/button/?url=https://newsheadline247.com/20m-fraud-us-court-sentences-allen-onyemas-alleged-conspirator-to-three-years-probation/&media=https://newsheadline247.com/wp-content/uploads/2022/10/Air-Peace-CEO-Allen-Onyema-newsheadline247.jpg&description=%2420m+Fraud%3A+US+Court+sentences+Allen+Onyema%E2%80%99s+alleged+conspirator+to+three+years+probation" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Pinterest"><div class="td-social-but-icon" style="background-color: #ca212a; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-pinterest" style="box-sizing: border-box; display: inline-block; font-size: 13px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-whatsapp" href="https://api.whatsapp.com/send?text=%2420m+Fraud%3A+US+Court+sentences+Allen+Onyema%E2%80%99s+alleged+conspirator+to+three+years+probation%20%0A%0A%20https://newsheadline247.com/20m-fraud-us-court-sentences-allen-onyemas-alleged-conspirator-to-three-years-probation/" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="WhatsApp"><div class="td-social-but-icon" style="background-color: #7bbf6a; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-whatsapp" style="box-sizing: border-box; display: inline-block; font-size: 18px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-linkedin" href="https://www.linkedin.com/shareArticle?mini=true&url=https://newsheadline247.com/20m-fraud-us-court-sentences-allen-onyemas-alleged-conspirator-to-three-years-probation/&title=%2420m+Fraud%3A+US+Court+sentences+Allen+Onyema%E2%80%99s+alleged+conspirator+to+three+years+probation" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Linkedin"><div class="td-social-but-icon" style="background-color: #0266a0; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-linkedin" style="box-sizing: border-box; display: inline-block; font-size: 14px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-tumblr" href="https://www.tumblr.com/share/link?url=https://newsheadline247.com/20m-fraud-us-court-sentences-allen-onyemas-alleged-conspirator-to-three-years-probation/&name=$20m%20Fraud:%20US%20Court%20sentences%20Allen%20Onyema%E2%80%99s%20alleged%20conspirator%20to%20three%20years%20probation" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Tumblr"><div class="td-social-but-icon" style="background-color: #3e5a70; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-tumblr" style="box-sizing: border-box; display: inline-block; font-size: 14px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-telegram" href="https://telegram.me/share/url?url=https://newsheadline247.com/20m-fraud-us-court-sentences-allen-onyemas-alleged-conspirator-to-three-years-probation/&text=%2420m+Fraud%3A+US+Court+sentences+Allen+Onyema%E2%80%99s+alleged+conspirator+to+three+years+probation" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Telegram"><div class="td-social-but-icon" style="background-color: #179cde; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 12px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-telegram" style="box-sizing: border-box; display: inline-block; font-size: 16px; left: -1px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a></div></div></div></footer></div></div>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-84045286034431872072022-10-21T15:47:00.007-07:002022-10-21T15:47:51.199-07:00$20m Fraud: Air Peace founder Allen Onyema’s co-conspirator to be sentenced October 28 – US Court<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisuJX1x4mI5nAY4UNsTBXLtmt03G5GIauO0AJIJ3lbaybbEbaBRoLxUhZQOIHQ2J_V15O_lTRvzotBKTLjp7fgl-mAabIrljTTq67ClsbCibef4Cuf8d_XBGXasQvc3WRNJBNT8oTt7G252B4Xmi7UHf2YzmB2osw2jXVZ7_bmPi_r7dcK8LV5uA/s774/AirPeace.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="480" data-original-width="774" height="248" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisuJX1x4mI5nAY4UNsTBXLtmt03G5GIauO0AJIJ3lbaybbEbaBRoLxUhZQOIHQ2J_V15O_lTRvzotBKTLjp7fgl-mAabIrljTTq67ClsbCibef4Cuf8d_XBGXasQvc3WRNJBNT8oTt7G252B4Xmi7UHf2YzmB2osw2jXVZ7_bmPi_r7dcK8LV5uA/w400-h248/AirPeace.png" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: left;"><div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><p class="has-cyan-bluish-gray-background-color has-background" style="background-color: #abb8c3; box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word; padding: 1.25em 2.375em;"><em style="box-sizing: border-box;"><strong style="box-sizing: border-box;">The fraud allegedly spearheaded by Mr Onyema was allegedly perpetrated under the guise of obtaining credit to buy aircraft for Air Peace, a frontline Nigerian airline, in the U.S.</strong></em></p><p class="has-drop-cap" style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">AUnited States court has set 28 October for the sentencing of Ebony Mayfield, a co-conspirator in an alleged $20 million fraud involving the founder of Air Peace, <a href="https://en.wikipedia.org/wiki/Allen_Onyema" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;">Allen Onyema</a>.</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Ms Mayfield, accused of helping Mr Onyema to sign fake documents to facilitate a fraudulent $20 million loan, had earlier pleaded guilty to the charge on 29 June.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The trial judge, Eleanor Ross, of the District Court for the Northern District of Georgia, in Atlanta, has now fixed 28 October for her sentencing, a court notice, according to Premium Times.</p><div class="td-a-rec td-a-rec-id-content_inline tdi_62 td_block_template_4" style="box-sizing: border-box; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image" style="box-sizing: border-box; margin: 0px 0px 1em;"><a href="https://gaim.fidelitybank.ng/" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"><img alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh1OSg6PJTD5gdkba9gjrehwmV94UTJ51AMjO0RSa4U7JK9I3HmXlh6d6Fj9CCpxMbZ4szv1Ojtv7H62s935LBTc8c41_EEdER2RdYRNBYJdsghu4sMDcqNF2_cK2wO84DFMqUmHbecQcME4ja7KpG7k-pb9bsNvm-3bIPqKHo1ciJv9vytCQ0MxQ/w640-h80/Fidelity.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 696px;" /></a></figure></div><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The fraud allegedly spearheaded by Mr Onyema was allegedly perpetrated under the guise of obtaining credit to buy aircraft for Air Peace, a frontline Nigerian airline, in the U.S.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Ms Mayfield was accused of helping Mr Onyema to facilitate the $20 million bank fraud between May 2016 and February 2018 when she worked as the manager for Springfield Aviation Company LLC, owned by the Air Peace founder.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">U.S. prosecutors accused her of signing and submitting false documents used by Mr Onyema to perpetrate the bank fraud in the U.S.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Mr Onyema and Air Peace Limited’s Head of Administration and Finance, Ejiroghene Eghagha, also face 36 charges at the U.S. court in connection with the alleged fraudulent scheme.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">But they have yet to show up or send a lawyer to represent them in court.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Trial</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Ms Mayfield, who was arrested on 7 June 2019, for her alleged roles in the alleged scheme, had previously pleaded not guilty to all eight charges filed against her in December 2019.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Her trial was, in March this year, rescheduled to start on August 8.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">But weeks before the trial date, she changed her plea from not guilty to guilty when she appeared before the trial judge on 29 June to plead guilty.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Ms Mayfield pleaded guilty to one of the eight counts filed against her by the U.S. government.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">A copy of the plea agreement she and her lawyer signed with U.S. prosecutors shows she specifically pleaded guilty to Count 5, which is a conspiracy to commit credit application fraud.</p><h4 class="has-pale-cyan-blue-background-color has-background" style="background-color: #8ed1fc; box-sizing: border-box; color: #111111; font-family: Roboto, sans-serif; font-size: 19px; font-weight: 400; line-height: 29px; margin: 24px 0px 14px; padding: 1.25em 2.375em;"><strong style="box-sizing: border-box;">READ</strong> <a href="https://newsheadline247.com/nigeria-air-must-commence-operations-before-end-of-2022-buhari-insists/" style="background-color: transparent; box-sizing: border-box; color: #111111; text-decoration-line: none;"><strong style="box-sizing: border-box;"><span class="has-inline-color has-vivid-red-color" style="box-sizing: border-box; color: #cf2e2e;">Nigeria Air must commence operations before end of 2022, Buhari insists</span></strong></a></h4><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">5-year jail term and other penalties</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">She risks up to five years of jail term based on the plea agreement.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Five years imprisonment is the maximum jail term provided for in Title 18, United States Code, Section 371, under which she was charged with the offence in Count 5.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Aside from the risk of a maximum five years jail term she faces, the plea agreement also recommends she be fined $250,000, or twice the gain or twice the loss whichever is greatest. The fine is due and payable immediately.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">She will also make full restitution due and payable immediately to all victims of the offence(s) and relevant conduct.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The plea agreement also recommends the forfeiture of any and all proceeds from the commission of the offence and any and all property used or intended to be used to facilitate the offence.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">She will be subjected to a mandatory special assessment of $100, due and payable immediately.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">She also, by pleading guilty, gave up the right to plead not guilty, the right to be tried by a jury, and the right to appeal against her conviction.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">If she is not a U.S. citizen, she stands the risk of being expelled from the country after completing her jail term.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">Alleged fraud</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Between November 2016 and October 2017, prosecutors said, Mr Onyema applied for export letters of credit to causing the transfer of funds from a Nigerian bank account for Air Peace to Springfield Aviation’s bank account, “purportedly to fund the purchase of aircraft by Air Peace from Springfield Aviation”.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Both the Air Peace purportedly seeking to buy the aircraft and the Springfield Aviation, the purported seller, belong to Mr Onyema.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Springfield Aviation, according to court documents, was established by Mr Onyema in the U.S. State of Georgia in April 2016 purportedly to specialise in “the wholesaling, trading/ and sale of commercial aircraft and parts”.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The US government says Ms Mayfield was recruited as a manager of Springfield Aviation with the role of entering into aviation-related contracts on behalf of the firm, despite her lack of education, training, or licensing in the review and valuation of aircraft, including aircraft components.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The charge against the defendants says the aircraft that was referenced in each of the export letters of credit provided to obtain the $ 20 million credit from a Nigerian bank, was never owned or sold by Springfield Aviation.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Source: PREMIUM TIMES</p><figure class="wp-block-embed is-type-wp-embed is-provider-newsheadline-247 wp-block-embed-newsheadline-247" style="box-sizing: border-box; margin: 0px 0px 1em;"><div class="wp-block-embed__wrapper" style="box-sizing: border-box; position: relative;"><iframe class="wp-embedded-content" data-secret="2JguZ26ikP" frameborder="0" height="609" marginheight="0" marginwidth="0" sandbox="allow-scripts" scrolling="no" security="restricted" src="https://newsheadline247.com/court-freezes-ahonsi-unuigbes-petralon-energy-account-over-non-disclosure-of-lifted-crude/embed/#?secret=2JguZ26ikP" style="box-sizing: border-box; max-width: 100%; width: 696px;" title="“Court freezes Ahonsi Unuigbe’s Petralon Energy account over non-disclosure of lifted crude” — newsheadline247" width="600"></iframe></div></figure><div class="td-a-rec td-a-rec-id-content_bottom tdi_64 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" class="wp-image-33038" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 696px;" /></figure></div></div><footer style="box-sizing: border-box; clear: both; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600;"><div class="td-post-source-tags" style="box-sizing: border-box; font-size: 11px;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="background-color: #222222; box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/airpeace/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">#AirPeace</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/allenonyema/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">#AllenOnyema</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/fraud-2/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">#fraud</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/newsheadline247/" style="background-color: #4db2ec; border: 1px solid rgb(77, 178, 236); box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; outline: 0px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li></ul></div></footer></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br />newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-69434475514802164822022-10-17T09:00:00.001-07:002022-10-17T09:00:06.616-07:00Labour Party Senatorial Candidate, Linus Okorie Arrested over ‘drug-related matter’ in Ebonyi<p></p><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh9W3FafXHE9OL0AhdeoaAhI5A1l_nEiwTeTT-xZqL903jvjretIw1yIVtZRWXJ7v4zsjqG52gKOESgaHbO7HXd6dGUM056Ak7H_Em97XNUxZpHokXSBayx8uNYoocuQAbZnGtPxv6UrHUJOAUdYiAPboCSICjpGfkJi_7I7YxF-JOH20Ue_hxynA/s685/Linus%20Okorie.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="553" data-original-width="685" height="323" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh9W3FafXHE9OL0AhdeoaAhI5A1l_nEiwTeTT-xZqL903jvjretIw1yIVtZRWXJ7v4zsjqG52gKOESgaHbO7HXd6dGUM056Ak7H_Em97XNUxZpHokXSBayx8uNYoocuQAbZnGtPxv6UrHUJOAUdYiAPboCSICjpGfkJi_7I7YxF-JOH20Ue_hxynA/w400-h323/Linus%20Okorie.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><div class="td-a-rec td-a-rec-id-content_top tdi_60 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><figure class="wp-block-image size-large is-resized" style="box-sizing: border-box; margin: 0px 0px 1em;"><a href="http://chiefsoft.net/" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"><img alt="" class="wp-image-8444 td-animation-stack-type1-2" height="146" src="https://newsheadline247.com/wp-content/uploads/2018/07/chiefsoft-300x91-300x91.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 696px;" width="479" /></a></figure><figure class="wp-block-image" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" src="https://newsheadline247.com/wp-content/uploads/2021/12/Banner.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 696px;" /></figure></div><p class="has-drop-cap" style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">The Ebonyi State Police Command says it has arrested Linus Okorie, the Labour Party senatorial candidate for Ebonyi south.</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Spokesperson of the state command, Chris Anyanwu, in a statement on Monday, said Okorie was arrested and not abducted as speculated.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">He said Okorie, a former member of the House of Representatives, was arrested over drug-related matters and several other offences.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Sequel to initial viral rumours renting the air, cum a Press Release accredited to one Dr David Ogbonna of Linus Okorie CaringHeart Foundation, purporting that the former member of House of Representatives, was abducted on Sunday,” the statement reads.</p><div class="td-a-rec td-a-rec-id-content_inline tdi_59 td_block_template_4" style="box-sizing: border-box; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image" style="box-sizing: border-box; margin: 0px 0px 1em;"><a href="https://gaim.fidelitybank.ng/" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"><img alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh1OSg6PJTD5gdkba9gjrehwmV94UTJ51AMjO0RSa4U7JK9I3HmXlh6d6Fj9CCpxMbZ4szv1Ojtv7H62s935LBTc8c41_EEdER2RdYRNBYJdsghu4sMDcqNF2_cK2wO84DFMqUmHbecQcME4ja7KpG7k-pb9bsNvm-3bIPqKHo1ciJv9vytCQ0MxQ/w640-h80/Fidelity.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 696px;" /></a></figure></div><h4 class="has-pale-cyan-blue-background-color has-background" style="background-color: #8ed1fc; box-sizing: border-box; color: #111111; font-family: Roboto, sans-serif; font-size: 19px; font-weight: 400; line-height: 29px; margin: 24px 0px 14px; padding: 1.25em 2.375em;"><strong style="box-sizing: border-box;">READ</strong> <a href="https://newsheadline247.com/ogun-2023-amosun-will-fall-fail-again-abiodun/" style="background-color: transparent; box-sizing: border-box; color: #111111; text-decoration-line: none;"><span class="has-inline-color has-vivid-red-color" style="box-sizing: border-box; color: #cf2e2e;"><strong style="box-sizing: border-box;">Ogun 2023: Amosun will fall, fail again – Abiodun</strong></span></a></h4><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“The State Police Command swung into action and later traced the said Okorie, who had evaded many Police arrests/invitations, to the head office of the Ebubeagu Security Outfit at the Old Government House.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Police detectives were briefed on why he was arrested which includes; his activities and utterances that incited and provoked the violence that engulfed Onicha Community which led to suspected gunmen to unleash mayhem in the area in 2021.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“Hence, the case has now been taken over by the Police Command for a scrupulous investigation.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Secondly, Okorie was severally invited by the Security and Intelligence Bureau of the Command over a petition dated, March 23, authored by the State’s Attorney General/Commissioner for Justice, alleging that he was spreading fake news against Gov Dave Umahi.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“When invited by the SIB over the false allegations/petition, Okorie in his characteristic pompous manner refused vehemently to report. Rather he chose to file fallacious suits against the Police Command.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">“It is also pertinent to mention that Okorie also have a pending case in which he is implicated in a drug-related offence where the suspects purported to be his agents were arrested for Hard drug sales and use at his City Hub Inn, Mile 50, Abakaliki,” the Spokesman stated.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The lawmaker is contesting for the same senate seat as Dave Umahi, governor of the state.</p><figure class="wp-block-embed is-type-wp-embed is-provider-newsheadline-247 wp-block-embed-newsheadline-247" style="box-sizing: border-box; margin: 0px 0px 1em;"><div class="wp-block-embed__wrapper" style="box-sizing: border-box; position: relative;"><blockquote class="wp-embedded-content" data-secret="o4hHhm6w8t" style="border-left: none; box-sizing: border-box; font-style: italic; margin: 40px 34.7969px 38px; padding: 0px; position: relative; text-align: center; width: 696px;"><a href="https://newsheadline247.com/court-freezes-ahonsi-unuigbes-petralon-energy-account-over-non-disclosure-of-lifted-crude/" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;">Court freezes Ahonsi Unuigbe’s Petralon Energy account over non-disclosure of lifted crude</a></blockquote><iframe class="wp-embedded-content" data-secret="o4hHhm6w8t" frameborder="0" height="338" marginheight="0" marginwidth="0" sandbox="allow-scripts" scrolling="no" security="restricted" src="https://newsheadline247.com/court-freezes-ahonsi-unuigbes-petralon-energy-account-over-non-disclosure-of-lifted-crude/embed/#?secret=o4hHhm6w8t" style="box-sizing: border-box; clip: rect(1px, 1px, 1px, 1px); max-width: 100%; position: absolute; width: 696px;" title="“Court freezes Ahonsi Unuigbe’s Petralon Energy account over non-disclosure of lifted crude” — newsheadline247" width="600"></iframe></div></figure><div class="td-a-rec td-a-rec-id-content_bottom tdi_61 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" class="wp-image-33038 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 696px;" /></figure></div></div><footer style="box-sizing: border-box; clear: both; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600;"><div class="td-post-source-tags" style="box-sizing: border-box; font-size: 11px;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="background-color: #222222; box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/drugdeal/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">#DrugDeal</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/labourparty/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">#LabourParty</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/linus-okorie/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Linus Okorie</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/newsheadline247/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li></ul></div><div class="td-post-sharing-bottom" style="border-color: rgb(237, 237, 237); border-style: solid; border-width: 1px 0px; box-sizing: border-box; margin-bottom: 42px; padding: 21px 0px;"><div class="td-post-sharing-classic" style="box-sizing: border-box; height: 20px; position: relative;"><iframe frameborder="0" src="https://www.facebook.com/plugins/like.php?href=https://newsheadline247.com/labour-party-senatorial-candidate-linus-okorie-arrested-over-drug-related-matter-in-ebonyi/&layout=button_count&show_faces=false&width=105&action=like&colorscheme=light&height=21" style="border-style: none; border-width: initial; box-sizing: border-box; height: 21px; overflow: hidden; width: auto;"></iframe></div><div class="td-post-sharing td-ps-bg td-ps-notext td-post-sharing-style1 " id="td_social_sharing_article_bottom" style="box-sizing: border-box; font-family: "Open Sans", "Open Sans Regular", sans-serif; margin: 15px -3px -7px; opacity: 1; transition: opacity 0.3s ease 0s; white-space: nowrap; z-index: 2;"><div class="td-post-sharing-visible" style="box-sizing: border-box; display: inline-block;"><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-facebook" href="https://www.facebook.com/sharer.php?u=https%3A%2F%2Fnewsheadline247.com%2Flabour-party-senatorial-candidate-linus-okorie-arrested-over-drug-related-matter-in-ebonyi%2F" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Facebook"><div class="td-social-but-icon" style="background-color: #516eab; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-facebook" style="box-sizing: border-box; display: inline-block; font-size: 14px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-twitter" href="https://twitter.com/intent/tweet?text=Labour+Party+Senatorial+Candidate%2C+Linus+Okorie+Arrested+over+%E2%80%98drug-related+matter%E2%80%99+in+Ebonyi&url=https%3A%2F%2Fnewsheadline247.com%2Flabour-party-senatorial-candidate-linus-okorie-arrested-over-drug-related-matter-in-ebonyi%2F&via=https%3A%2F%2Ftwitter.com%2F247_news%3Fs%3D08" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Twitter"><div class="td-social-but-icon" style="background-color: #29c5f6; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-twitter" style="box-sizing: border-box; display: inline-block; font-size: 12px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-pinterest" href="https://pinterest.com/pin/create/button/?url=https://newsheadline247.com/labour-party-senatorial-candidate-linus-okorie-arrested-over-drug-related-matter-in-ebonyi/&media=https://newsheadline247.com/wp-content/uploads/2022/10/Linus-Okorie-newsheadline247.jpg&description=Labour+Party+Senatorial+Candidate%2C+Linus+Okorie+Arrested+over+%E2%80%98drug-related+matter%E2%80%99+in+Ebonyi" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Pinterest"><div class="td-social-but-icon" style="background-color: #ca212a; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-pinterest" style="box-sizing: border-box; display: inline-block; font-size: 13px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-whatsapp" href="https://api.whatsapp.com/send?text=Labour+Party+Senatorial+Candidate%2C+Linus+Okorie+Arrested+over+%E2%80%98drug-related+matter%E2%80%99+in+Ebonyi%20%0A%0A%20https://newsheadline247.com/labour-party-senatorial-candidate-linus-okorie-arrested-over-drug-related-matter-in-ebonyi/" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="WhatsApp"><div class="td-social-but-icon" style="background-color: #7bbf6a; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-whatsapp" style="box-sizing: border-box; display: inline-block; font-size: 18px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-linkedin" href="https://www.linkedin.com/shareArticle?mini=true&url=https://newsheadline247.com/labour-party-senatorial-candidate-linus-okorie-arrested-over-drug-related-matter-in-ebonyi/&title=Labour+Party+Senatorial+Candidate%2C+Linus+Okorie+Arrested+over+%E2%80%98drug-related+matter%E2%80%99+in+Ebonyi" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Linkedin"><div class="td-social-but-icon" style="background-color: #0266a0; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-linkedin" style="box-sizing: border-box; display: inline-block; font-size: 14px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-tumblr" href="https://www.tumblr.com/share/link?url=https://newsheadline247.com/labour-party-senatorial-candidate-linus-okorie-arrested-over-drug-related-matter-in-ebonyi/&name=Labour%20Party%20Senatorial%20Candidate,%20Linus%20Okorie%20Arrested%20over%20%E2%80%98drug-related%20matter%E2%80%99%20in%20Ebonyi" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Tumblr"><div class="td-social-but-icon" style="background-color: #3e5a70; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-tumblr" style="box-sizing: border-box; display: inline-block; font-size: 14px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-telegram" href="https://telegram.me/share/url?url=https://newsheadline247.com/labour-party-senatorial-candidate-linus-okorie-arrested-over-drug-related-matter-in-ebonyi/&text=Labour+Party+Senatorial+Candidate%2C+Linus+Okorie+Arrested+over+%E2%80%98drug-related+matter%E2%80%99+in+Ebonyi" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Telegram"><div class="td-social-but-icon" style="background-color: #179cde; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 12px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-telegram" style="box-sizing: border-box; display: inline-block; font-size: 16px; left: -1px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a></div></div></div><div class="td-block-row td-post-next-prev" style="box-sizing: border-box; margin-left: -24px; margin-right: -24px;"><div class="td-block-span6 td-post-prev-post" style="box-sizing: border-box; float: left; min-height: 1px; padding-left: 24px; padding-right: 24px; width: 372px;"><div class="td-post-next-prev-content" style="box-sizing: border-box; display: inline-block; font-family: Roboto, sans-serif; word-break: break-word;"><span style="box-sizing: border-box; color: #c1c1c1; display: block; font-size: 12px; margin-bottom: 7px;">Previous article</span><a href="https://newsheadline247.com/kogi-communities-jubilate-as-dangote-cement-obajana-plant-reopens/" style="box-sizing: border-box; color: #222222; display: block; font-size: 15px; line-height: 21px; margin-bottom: 43px; text-decoration-line: none;">Kogi Communities Jubilate as Dangote Cement Obajana Plant reopens</a></div></div></div></footer><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><p></p>newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0tag:blogger.com,1999:blog-2425088912610739520.post-64016924867827435402022-10-12T01:34:00.007-07:002022-10-12T01:34:58.656-07:00EFCC to arraign former Lagos Commissioner, Supo Shasore over money laundering<div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjSxrgg4LoAWmfidgYPcOlIAz1XwHxI_PS5q8YsJsq0if5trtbt9hLM6QAJOrKTeQU5Ul6EWm957twefKnEXbjqPe-hbYqpA34BZbup8uRBZ8gz7PtQr6ah4IJ5mHv3HEzy-EuEX6ztEhBXvpTe9ZXCbT0dzq97u5kwNHst_CrivhJgkbiJ8MWiYQ/s768/Image.jpeg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="609" data-original-width="768" height="318" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjSxrgg4LoAWmfidgYPcOlIAz1XwHxI_PS5q8YsJsq0if5trtbt9hLM6QAJOrKTeQU5Ul6EWm957twefKnEXbjqPe-hbYqpA34BZbup8uRBZ8gz7PtQr6ah4IJ5mHv3HEzy-EuEX6ztEhBXvpTe9ZXCbT0dzq97u5kwNHst_CrivhJgkbiJ8MWiYQ/w400-h318/Image.jpeg" width="400" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: left;"><div class="td-post-content tagdiv-type" style="box-sizing: border-box; color: #222222; font-family: Baskerville, "Times New Roman", Times, serif; font-size: 17px; line-height: 1.74; margin-top: 0px; padding-bottom: 16px;"><div class="td-a-rec td-a-rec-id-content_top tdi_63 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><figure class="wp-block-image size-large is-resized" style="box-sizing: border-box; margin: 0px 0px 1em;"><a href="http://chiefsoft.net/" style="box-sizing: border-box; color: #4db2ec; outline: 0px;" target="_blank"><img alt="" class="wp-image-8444 td-animation-stack-type1-2" height="146" src="https://newsheadline247.com/wp-content/uploads/2018/07/chiefsoft-300x91-300x91.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 696px;" width="479" /></a></figure><figure class="wp-block-image" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" src="https://newsheadline247.com/wp-content/uploads/2021/12/Banner.gif" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 696px;" /></figure></div><p class="has-drop-cap" style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;"><strong style="box-sizing: border-box;">The Economic and Financial Crimes Commission (EFCC) has filed money laundering charges against a former Attorney-General (AG) and Commissioner for Justice in Lagos State, Supo Shasore.</strong></p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Sashore was Lagos AG from 2007 to 2011.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The charges which were filed before the Federal High Court, Lagos was signed by one of the EFCC’s lawyers, Bala Sanga.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The court has fixed the arraignment of the former Lagos AG for October 20 before Justice Chukwujekwu Aneke.</p><div class="td-a-rec td-a-rec-id-content_inline tdi_62 td_block_template_4" style="box-sizing: border-box; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image" style="box-sizing: border-box; margin: 0px 0px 1em;"><a href="https://gaim.fidelitybank.ng/" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;" target="_blank"><img alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh1OSg6PJTD5gdkba9gjrehwmV94UTJ51AMjO0RSa4U7JK9I3HmXlh6d6Fj9CCpxMbZ4szv1Ojtv7H62s935LBTc8c41_EEdER2RdYRNBYJdsghu4sMDcqNF2_cK2wO84DFMqUmHbecQcME4ja7KpG7k-pb9bsNvm-3bIPqKHo1ciJv9vytCQ0MxQ/w640-h80/Fidelity.png" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; width: 696px;" /></a></figure></div><h4 class="has-pale-cyan-blue-background-color has-background" style="background-color: #8ed1fc; box-sizing: border-box; color: #111111; font-family: Roboto, sans-serif; font-size: 19px; font-weight: 400; line-height: 29px; margin: 24px 0px 14px; padding: 1.25em 2.375em;"><strong style="box-sizing: border-box;">READ</strong> <a href="https://newsheadline247.com/fuji-music-icon-wasiu-ayinde-marshal-bags-mon-national-honours-award/" style="background-color: transparent; box-sizing: border-box; color: #111111; text-decoration-line: none;"><span class="has-inline-color has-vivid-red-color" style="box-sizing: border-box; color: #cf2e2e;"><strong style="box-sizing: border-box;">Fuji Music Icon, Wasiu Ayinde Marshal Bags MON National Honours Award</strong></span></a></h4><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Count one of the charge sheet said that Shasore on or about November 18, 2014 induced one Olufolakemi Adetore, in accepting cash payment of the sum of $100,000 without going through a financial institution.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">In count two, Shasore was alleged to have made cash payment of the sum of $100,000 to Olufolakemi Adelore through Auwalu Habu and Wole Aboderin.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">In counts three and four, the former Lagos AG was said to have induced and also made cash payment of the sum of $100,000 to one Ikechukwu Oguine without going through a financial institution.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">The anti-graft agency alleged that the sums which exceed the amount permitted by law constitute an offence contrary to sections 78(c); 1(a) and 16(1)(d) and 18(c) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under section 16(6) and 16 (2)(b) of the same Act.</p><p style="box-sizing: border-box; line-height: 18px; margin-bottom: 26px; margin-top: 0px; overflow-wrap: break-word;">Supo Shasore (SAN) was the Attorney-General and Commissioner for Justice, during the tenure of Babatunde Fashola as Governor of Lagos State.</p><figure class="wp-block-embed is-type-wp-embed is-provider-newsheadline-247 wp-block-embed-newsheadline-247" style="box-sizing: border-box; margin: 0px 0px 1em;"><div class="wp-block-embed__wrapper" style="box-sizing: border-box; position: relative;"><iframe class="wp-embedded-content" data-secret="0t55U9Z6pK" frameborder="0" height="609" marginheight="0" marginwidth="0" sandbox="allow-scripts" scrolling="no" security="restricted" src="https://newsheadline247.com/court-freezes-ahonsi-unuigbes-petralon-energy-account-over-non-disclosure-of-lifted-crude/embed/#?secret=0t55U9Z6pK" style="box-sizing: border-box; max-width: 100%; width: 696px;" title="“Court freezes Ahonsi Unuigbe’s Petralon Energy account over non-disclosure of lifted crude” — newsheadline247" width="600"></iframe></div></figure><div class="td-a-rec td-a-rec-id-content_bottom tdi_64 td_block_template_4" style="box-sizing: border-box; clear: both; text-align: center;"><span class="td-adspot-title" style="box-sizing: border-box; color: #767676; display: block; font-family: Verdana, BlinkMacSystemFont, -apple-system, "Segoe UI", Roboto, Oxygen, Ubuntu, Cantarell, "Open Sans", "Helvetica Neue", sans-serif; font-size: 10px; line-height: 21px;">Advertisement</span><figure class="wp-block-image size-large" style="box-sizing: border-box; margin: 0px 0px 1em;"><img alt="" class="wp-image-33038 td-animation-stack-type1-2" src="https://newsheadline247.com/wp-content/uploads/2022/01/Kerlin-Twale-newsheadline247.jpg" style="border-radius: inherit; border: 0px; box-sizing: border-box; display: block; height: auto; margin-bottom: 0px; max-width: 100%; opacity: 0; transform: scale(0.95); transition: transform 0.5s ease 0s, opacity 0.3s cubic-bezier(0.39, 0.76, 0.51, 0.56) 0s; width: 696px;" /></figure></div></div><footer style="box-sizing: border-box; clear: both;"><div class="td-post-source-tags" style="box-sizing: border-box; font-family: Georgia, Times, "Times New Roman", serif; font-size: 11px; font-weight: 600;"><ul class="td-tags td-post-small-box clearfix" style="box-sizing: border-box; clear: left; display: table; font-family: "Open Sans", "Open Sans Regular", sans-serif; height: 20px; line-height: 20px; margin: 0px 0px 30px; padding: 0px;"><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><span style="background-color: #222222; box-sizing: border-box; color: white; display: block; float: left; height: 20px; line-height: 10px; margin-left: 0px; margin-right: 4px; padding: 5px 9px; text-transform: uppercase;">TAGS</span></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/efcc-2/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">#EFCC</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/moneylaundering/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">#moneylaundering</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/newsheadline247/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">newsheadline247</a></li><li style="box-sizing: border-box; display: inline-block; float: left; line-height: 20px; list-style: none; margin-bottom: 4px; margin-left: 0px;"><a href="https://newsheadline247.com/tag/supo-shasore/" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; color: #111111; display: block; float: left; height: 20px; line-height: 8px; margin-left: 0px; margin-right: 4px; padding: 5px 8px; text-decoration-line: none;">Supo Shasore</a></li></ul></div><div class="td-post-sharing-bottom" style="border-color: rgb(237, 237, 237); border-style: solid; border-width: 1px 0px; box-sizing: border-box; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600; margin-bottom: 42px; padding: 21px 0px;"><div class="td-post-sharing-classic" style="box-sizing: border-box; height: 20px; position: relative;"><iframe frameborder="0" src="https://www.facebook.com/plugins/like.php?href=https://newsheadline247.com/efcc-to-arraign-former-lagos-commissioner-supo-shasore-over-money-laundering/&layout=button_count&show_faces=false&width=105&action=like&colorscheme=light&height=21" style="border-style: none; border-width: initial; box-sizing: border-box; height: 21px; overflow: hidden; width: auto;"></iframe></div><div class="td-post-sharing td-ps-bg td-ps-notext td-post-sharing-style1 " id="td_social_sharing_article_bottom" style="box-sizing: border-box; font-family: "Open Sans", "Open Sans Regular", sans-serif; margin: 15px -3px -7px; opacity: 1; transition: opacity 0.3s ease 0s; white-space: nowrap; z-index: 2;"><div class="td-post-sharing-visible" style="box-sizing: border-box; display: inline-block;"><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-facebook" href="https://www.facebook.com/sharer.php?u=https%3A%2F%2Fnewsheadline247.com%2Fefcc-to-arraign-former-lagos-commissioner-supo-shasore-over-money-laundering%2F" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Facebook"><div class="td-social-but-icon" style="background-color: #516eab; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-facebook" style="box-sizing: border-box; display: inline-block; font-size: 14px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-twitter" href="https://twitter.com/intent/tweet?text=EFCC+to+arraign+former+Lagos+Commissioner%2C+Supo+Shasore+over+money+laundering&url=https%3A%2F%2Fnewsheadline247.com%2Fefcc-to-arraign-former-lagos-commissioner-supo-shasore-over-money-laundering%2F&via=https%3A%2F%2Ftwitter.com%2F247_news%3Fs%3D08" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Twitter"><div class="td-social-but-icon" style="background-color: #29c5f6; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-twitter" style="box-sizing: border-box; display: inline-block; font-size: 12px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-pinterest" href="https://pinterest.com/pin/create/button/?url=https://newsheadline247.com/efcc-to-arraign-former-lagos-commissioner-supo-shasore-over-money-laundering/&media=https://newsheadline247.com/wp-content/uploads/2022/10/Image.jpeg&description=EFCC+to+arraign+former+Lagos+Commissioner%2C+Supo+Shasore+over+money+laundering" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Pinterest"><div class="td-social-but-icon" style="background-color: #ca212a; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-pinterest" style="box-sizing: border-box; display: inline-block; font-size: 13px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-whatsapp" href="https://api.whatsapp.com/send?text=EFCC+to+arraign+former+Lagos+Commissioner%2C+Supo+Shasore+over+money+laundering%20%0A%0A%20https://newsheadline247.com/efcc-to-arraign-former-lagos-commissioner-supo-shasore-over-money-laundering/" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="WhatsApp"><div class="td-social-but-icon" style="background-color: #7bbf6a; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-whatsapp" style="box-sizing: border-box; display: inline-block; font-size: 18px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-linkedin" href="https://www.linkedin.com/shareArticle?mini=true&url=https://newsheadline247.com/efcc-to-arraign-former-lagos-commissioner-supo-shasore-over-money-laundering/&title=EFCC+to+arraign+former+Lagos+Commissioner%2C+Supo+Shasore+over+money+laundering" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Linkedin"><div class="td-social-but-icon" style="background-color: #0266a0; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-linkedin" style="box-sizing: border-box; display: inline-block; font-size: 14px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-tumblr" href="https://www.tumblr.com/share/link?url=https://newsheadline247.com/efcc-to-arraign-former-lagos-commissioner-supo-shasore-over-money-laundering/&name=EFCC%20to%20arraign%20former%20Lagos%20Commissioner,%20Supo%20Shasore%20over%20money%20laundering" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Tumblr"><div class="td-social-but-icon" style="background-color: #3e5a70; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 13px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-tumblr" style="box-sizing: border-box; display: inline-block; font-size: 14px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a><a class="td-social-sharing-button td-social-sharing-button-js td-social-network td-social-telegram" href="https://telegram.me/share/url?url=https://newsheadline247.com/efcc-to-arraign-former-lagos-commissioner-supo-shasore-over-money-laundering/&text=EFCC+to+arraign+former+Lagos+Commissioner%2C+Supo+Shasore+over+money+laundering" style="box-sizing: border-box; color: white; display: inline-block; font-size: 11px; height: 40px; margin: 0px 3px 7px; min-width: 40px; opacity: 1; overflow: hidden; position: relative; text-align: center; text-decoration-line: none; transition: opacity 0.2s ease 0s; vertical-align: middle;" title="Telegram"><div class="td-social-but-icon" style="background-color: #179cde; border-radius: 2px; box-sizing: border-box; display: inline-block; line-height: 40px; padding-left: 13px; padding-right: 12px; position: relative; width: 40px; z-index: 1;"><i class="td-icon-telegram" style="box-sizing: border-box; display: inline-block; font-size: 16px; left: -1px; line-height: 1; position: relative; top: -1px; vertical-align: middle;"></i></div></a></div></div></div><div class="td-block-row td-post-next-prev" style="box-sizing: border-box; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600; margin-left: -24px; margin-right: -24px;"><div class="td-block-span6 td-post-prev-post" style="box-sizing: border-box; float: left; min-height: 1px; padding-left: 24px; padding-right: 24px; width: 372px;"><div class="td-post-next-prev-content" style="box-sizing: border-box; display: inline-block; font-family: Roboto, sans-serif; word-break: break-word;"><span style="box-sizing: border-box; color: #c1c1c1; display: block; font-size: 12px; margin-bottom: 7px;">Previous article</span><a href="https://newsheadline247.com/subomi-balogun-the-nigerian-billionaire-with-11-rolls-royce/" style="box-sizing: border-box; color: #222222; display: block; font-size: 15px; line-height: 21px; margin-bottom: 43px; text-decoration-line: none;">Subomi Balogun… The Nigerian Billionaire with 11 Rolls Royce</a></div></div><div class="td-block-span6 td-post-next-post" style="box-sizing: border-box; float: left; min-height: 1px; padding-left: 24px; padding-right: 24px; text-align: right; width: 372px;"><div class="td-post-next-prev-content" style="box-sizing: border-box; display: inline-block; font-family: Roboto, sans-serif; word-break: break-word;"><span style="box-sizing: border-box; color: #c1c1c1; display: block; font-size: 12px; margin-bottom: 7px;">Next article</span><a href="https://newsheadline247.com/dangote-our-acquisition-of-obajana-cement-plant-followed-due-process/" style="box-sizing: border-box; color: #222222; display: block; font-size: 15px; line-height: 21px; margin-bottom: 43px; text-decoration-line: none;">Dangote: Our acquisition of Obajana Cement plant followed Due Process</a></div></div></div><div class="author-box-wrap" style="border: 1px solid rgb(237, 237, 237); box-sizing: border-box; font-family: Georgia, Times, "Times New Roman", serif; font-size: 16px; font-weight: 600; margin-bottom: 48px; padding: 21px;"><a aria-label="author-photo" href="https://newsheadline247.com/author/luk-omikunle/" style="box-sizing: border-box; color: #4db2ec; text-decoration-line: none;"></a></div></footer></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br />newsheadline247http://www.blogger.com/profile/12364320292098699743noreply@blogger.com0