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Court Orders Forfeiture Of $2.04m, Properties, Shares Linked To Emefiele 

Emefiele

The Federal High Court in Lagos has ordered the interim forfeiture of a cash sum of $2,045m linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

Justice Akintayo Aluko also ordered the interim forfeiture of seven landed properties linked to the suspended CBN Governor.

The lands are listed as: “two fully detached duplexes of identical structures, lying being and situated at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped/bare land, measuring 1919.592sqm with Survey Plan No. DS/LS/340 LYING, being and situate at Oyinkan Abayomi Drive (Formerly Queens Drive), Ikoyi, Lagos; a bungalow lying, being and situate at No. 65a Oyinkan Abayomi Drive, (Formerly Queens Drive), Ikoyi, Lagos; four bedroom duplex lying, being and situate at 12a Probyn Road, Ikoyi; Industrial complex under construction on a 22-plot of land, lying, being and situate in Agbor, Delta State; 8 units of the undetached apartment on a plot measuring 2457.60sqm OF lying, being and situate at No. 8a Adekunle Lawal Road, Ikoyi, and a full duplex together with all its appurtenances on a plot of land measuring 2217.87sqm lying, being and situate at 2a Bank Road, Ikoyi, Lagos”.

Justice Aluko further ordered the interim forfeiture of 2 shares of share certificates of Queensdorf Global Fund Limited Trust.

The judge made the interim forfeiture orders on Thursday, after taking an application for the orders in a suit filed and moved by the Economic and Financial Crimes Commission (EFCC) counsel, Senior Advocate of Nigeria, Rotimi Oyedepo who led Chineye Okezie and Zeenat Atiku-Bala.

In urging the court to forfeit the assets, Oyedepo said the money and other items sought to be forfeited are reasonably suspected to be proceeds of unlawful activities.

Oyedepo also added that the orders sought are pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006, Section 44 (2)(B) of the 1999 Constitution of the Federal Republic of Nigeria and the court’s inherent jurisdiction.

The Senior Advocate also told the court that the motion exparte is supported by an affidavit deposed to by one Idi Musa, an Investigator attached to the Lagos office of the EFCC.

Part of the deponent’s averments in the affidavit reads: “that I am one of the operatives of the Economic and Financial Crimes Commission assigned to investigate the damning intelligence report received by the Economic And Financial Crimes Commission in respect of monumental fraudulent activities perpetrated by some senior officers of the Central Bank of Nigeria through which huge sums of money were fraudulently converted and transferred for personal use.


“That the Commission whilst investigating the alleged monumental fraud carried out by the immediate past Governor of the Central Bank of Nigeria (CBN) and his Cronies traced and discovered several properties reasonably suspected to have been acquired and or developed with proceeds of unlawful activities.

“That the said properties particularised in Schedules ‘A’ and ‘B’ herein, having been reasonably suspected to have been acquired/ developed with proceeds of unlawful activities are now sought to be forfeited to the Federal Government of Nigeria in the interim.

“In the cause of this investigation, it was revealed that the erstwhile CBN governor negotiates kickbacks in return for allocation of Foreign Exchange to some companies who were in desperate need of foreign exchange for their lawful and legitimate businesses.

“That upon investigation, it was revealed that one Ifeanyi Omeke, a Deputy General Manager and Head, Litigation of Zenith Bank Plc, who worked closely with Godwin Emefiele ran several errands for him which included purchase and perfection of title documents for several properties located in highbrow areas of Lagos. And that upon a search conducted in the office premises of Mr Ifeanyi Collins Omeke by the operatives, several seals for various companies including but not limited to Queensdorf Global Fund Limited were recovered.


“That the said seals were kept in the custody of Mr Ifeanyi Collins Omeke by Godwin Emefiele. And that Investigation has revealed that all seven companies listed above are suspected to be shell companies used by Godwin Emefiele as vehicles for money laundering and holding proceeds of his illicit activities.

“That sometime in 2018, one Olusola Bodunde acquired a parcel of land located at Hakeem Odumosu Street, Lekki Phase 1, Lagos and partnered with one Idowu Sharafa to develop three units of 5-bedroom duplexes with attached BQ on the land. And that sometime in 2020, one Ifeanyi Omeke approached Mr Olusola Bodunde and subsequently paid the total sum of N460,000,000. 00 (Four Hundred and Sixty Million Naira) for two of the three developed duplexes, purchased in the name of Amrash Ventures Limited, all on behalf and the instructions of Godwin Emefiele.

“That the sum of Two Million, Forty-Five Thousand Dollars ($2,045,000.00) and the shares certificate, were also recovered in the office of Mr. Collins Ifeanyi Omeke at the Zenith Bank Head office on Ajose Adeogun Street, Victoria Island, Lagos.

“That most of the proceeds of Godwin Emefiele’s illegal activities were invested in the acquisition of various properties now sought to be forfeited to the Federal Government of Nigeria. And that the properties now sought to be forfeited were not acquired with proceeds of any legitimate earnings but rather from funds reasonably suspected to have been derived from proceeds of unlawful activities.

“That from findings of our investigation, I also know as a fact and verily believe that the properties sought to be forfeited were acquired in the name of cooperating entities to conceal the unlawful origin of the funds used for their acquisition. And that the title document in respect of the properties listed in Schedule A herein was recovered by the team in the course of this investigation.

“That I know as a fact and verily believed that the funds used for the acquisition of the properties sought to be forfeited are reasonably suspected to be proceeds of unlawful activities and not the legitimate earnings of Godwin Emefiele.

“That most of the fraudulently earned funds have been invested in the acquisition of the various properties now sought to be forfeited to the Federal Government of Nigeria. And that the properties were acquired by Godwin Emefiele and kept in the custody of Mr Collins Ifeanyi Omeke, with sums traced and reasonably believed to be proceeds of unlawful activities to wit; kickback from allocation of Foreign exchange.

“That investigation further revealed that all these companies were used in the intermediate steps to perfect this scheme of fraud. And that it is in the interest of justice to grant this application.”

After listening to Oyedepo’s submissions and reading through all the processes filed and the plethoras of legal authorities cited, Justice Aluko granted the interim forfeiture of the money, the share certificates and the landed properties.

National

Reps reject bill seeking six-year single tenure for president, governors

The House of Representatives on Wednesday rejected a bill seeking a six-year single term for Nigeria’s presidency.

The bill, sponsored by Ikenga Ugochinyere (PDP, Imo) and 33 others failed to pass second reading on Thursday during a debate on its general principles.

The bill also canvasses the rotation of the presidency among the six geopolitical zones of the country.

35 legislators had in June under the auspices of Reformed-minded Legislators, said the proposition would lead to a reduction in the cost of governance.

Ugochinyere, added that the move would unite the country and ensure a seamless transition and unprecedented development for the country.

The proposed legislation seeks to alter Sections 76, 116, 132, 136, and some others of the 1999 Constitution (as amended).

According to the general principles of the bill, “these amendments was to ensure inclusive governance and to curb wastages occasioned by four year periodic elections.

“The bill among others seeks amendment of Section 132 of the Principal Act by inserting a new subsection (2), deleting the extant subsection (4) and renumbering the entire section accordingly to provide that an election to the office of President of the Federal Republic of Nigeria shall be rotated between the North and the South regions of the country every six years.

“Other amendments include, Section 76 of the Principal Act is altered by inserting a new subsection (3) as follows; (3) For the Purposes of Section (1) of this section, all elections into the offices of President, Governors, National Assembly and State Houses of Assembly shall hold simultaneously on the same date to be determined by the Independent National Electoral Commission in consultation with the National Assembly and in accordance with the Electoral Act.

“Section 116 of the Principal Act is amended by inserting a new a subsection (3) as follows; For the purposes of subsection (1) of this section, all elections into the offices of President, Governors, National Assembly, State Houses of Assembly and Local Government Councils shall be held simultaneously on the same date to be determined by the Independent National Electoral Commission (INEC) in consultation with the National Assembly and in accordance with the Electoral Act.”

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National

NAFDAC alerts Nigerians on fake products

The National Agency for Food and Drug Administration and Control (NAFDAC) has released a fresh warning on the risks of unregulated products, especially as the festive season approaches.

The warning came after the agency uncovered a warehouse stocked with unregistered and expired supermarket products in Oke-Afa, Okota, part of Lagos State.

According to the Agency on X (formally Twitter), a NAFDAC team acted on intelligence and raided the facility, apprehending operators offloading a 20ft container filled with unregistered carbonated drinks. “A further inspection revealed over 14 rooms packed with unregistered and expired products, some of which were contaminated by rats, indicating poor storage conditions.”

The agency said the facility is currently placed on hold for further investigation and asked the management to provide sourcing evidence such as the Global Listing for Supermarket Items (GLSI) certificate.

It then encouraged consumers to report suspicious activities to any NAFDAC office and remain vigilant by ensuring their product sources are verified, particularly during the coming festive season.

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National

ICPC tracks N610 billion projects in 22 states

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has kicked off phase 7 of the Constituency and Executive Project Tracking Exercise.

The tracking of the constituency and executive projects is an initiative of the Commission that began in 2019, focusing on how well money allocated to critical sectors of education, health, agriculture, water resources, and power, amongst others, by the government is utilised.

The 7th phase, involving 1500 projects with a total project value of N610 billion, commenced on Monday, November 18th, 2024, in 22 states across the 6 geopolitical zones.

The states are Kwara, Niger, Kogi, FCT, Kebbi, Kano, Kaduna, Jigawa, Bauchi, Gombe, Borno, Lagos, Ondo, Osun, Oyo, Akwa Ibom, Rivers, Cross River, Delta, Imo, Abia and Enugu State.

The phase 7 tracking exercise will cut across agencies of government, including intervention agencies such as North-East Development Commission (NEDC), Niger Delta Development Commission (NDDC), National Agricultural Land Development Authority (NALDA), Universal Basic Education Commission (UBEC), Rural Electrification Agency (REA), National Primary Health Care Development Authority (NPHCDA), Tertiary Education Trust Fund (TETFUND) and Ecological Fund Office.

The objective of the exercise is to deepen adherence to due process in the execution of government projects, improve value for money, and entrench the culture of compliance with the scope and specification as contained in the contract documents.

The ICPC tracked a total of 1,900 projects valued at N500 billion naira in phase 6 of the exercise across 24 states of the nation’s 6 geopolitical zones.

The projects were tracked within the focal sectors of Education, Water Resources, Agriculture, Power, Health, Energy, and Roads.

These projects in the 6th phase were awarded to 1,355 contractors in 176 MDAs.

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National

FG awards contracts for Calabar, Ebonyi, Benue, Kogi, Nasarawa, Abuja highways

President Bola Tinubu has approved the restructuring of his media team

The Federal Government has signed a contract with Infiouest International Limited for the construction of the Calabar-Ebonyi-Benue-Kogi-Nasarawa-Abuja Superhighway to boost the country’s transportation ecosystem.

Speaking during the signing ceremony in Abuja, Minister of Works, David Umahi, thanked President Bola Tinubu for his inclusive leadership and the distribution of the dividends of democracy.

Umahi also explained that the Legacy Project is strategic for boosting transportation along the economic corridors of the South East and North Central, noting that it would stimulate trade along the regions and foster inter-regional cohesion, cooperation, and collaboration.

He noted that the project will create a seamless movement of goods and services between the Southeast and Northern routes of the road and further the road infrastructure revolution master plan in keeping with the tenets of inclusive leadership in the country.

According to Umahi, the Federal Ministry of Works has also signed a contract with Infiouest International Limited for the construction of Enugu/Abakaliki/Ogoja Highway (Africa Trans-Sahara route) cutting across Cross River, Benue, Kogi, Nasarawa States and terminating in Apo in Abuja.

The Works Minister argued that the project will consist of the reconstruction of the existing jointed, asphalt concrete and laterite surfaced road pavements from Ndibe beach, traversing through Eke Market.

Others, Abaomege, Onueke, Achiagu, Umuoghara/Onu Nwafor, Ukwuachi, Ishieke, Odomoke before terminating at Mbeke in Ebonyi is the third Project spanning 118.85km and it is to be constructed on Continuously Reinforced Concrete Pavement (CRCP).

He assured that the four projects are not just transformational but also critical investments that would turn around the socio-economic fortunes of the country, stimulate diversification, and enhance a more sustainable transportation ecosystem.

Umahi therefore thanked Mr. President for carrying on the execution of the inherited road projects across the 6 Geo-Political zones, including the South East, believing, Lagos – Calabar 750 kilometers sections 1 and 2, construction already are going on very well.

“Despite legal action, the project is a must. We’re supporting Mr. President to have that project accomplished. It is an investment. Very soon, we are starting 3A and 3B in Cross River and Akwa Ibom,” Umahi said.

The Minister argued, “There is Sokoto-Badagry Superhighway, 1,068 kilometers. Two sections are already ongoing. The biggest of the project is the Kebbi section, 258 kilometers. It’s ongoing. We’ve flagged off, and we have paid the first mobilization fee.”

Speaking after signing the contract, the Managing Director of the company, Mr. Joseph Abou Jaounde promised to justify the confidence reposed on them, saying, “We have to carry on with this goal, and we have to prove that we trust in the right place.”

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National

Alia approves ₦75,000 minimum wage for Benue workers

 Gov. Hyacinth Alia of Benue has approved a minimum wage of ₦75,000 for workers in the state.

Alia in a statement by his Chief Press Secretary, Sir Tersoo Kula, announced the new wage after he met with organised labour representatives on Monday in Makurdi.

The governor said that the new minimum wage would take effect in November 2024.

He stated that the remaining three months of the five-month backlog of salary arrears promised workers would be paid as budgeted in the 2024 budget.

He emphasised that the arrias would be paid along with the new minimum wage.

“We decided to set the wage at ₦75,000, fully aware of the other concerns raised by organised labour during the negotiations.

“These concerns included a minimum wage of N30,000, wage awards, transportation allowances, tax relief, and work-off days, among others.

“Recall that the President had approved the sum of N70,000, which we have decided to exceed, considering the concerns raised by organised labour regarding our ability to pay,” he said.

Alia restated his administration’s commitment to serve the common man and stressed that he would do everything legitimately possible to ensure that Benue workers were properly taken care of.

The governor added that his motivation to ensure the arrears were paid was to alleviate the effects of hardship on workers.

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Lagos court jails NOGASA chair 21 years for N43.5m fraud

Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday, November 18, 2024, convicted and sentenced Fatuyi Yemi Philips, an erstwhile Chairman of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), to 21 years imprisonment for an N43.5 million fraud.

The Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) arraigned Philips, alongside his firm, Oceanview Oil and Gas Limited, on April 5, 2022, on a two-count bordering on obtaining money by false pretence to the tune of N43,502,000.00.

Count one read: “Fatuyi Yemi Philips and Oceanview Oil and Gas Nigeria Limited, on or about the 28th day of September, 2016, at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, obtained the aggregate sum of N43,502,000.00 from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited under the false representation that you would sell to WAPCIL Nigeria Limited $98,870.00, a representation you knew to be false.”

Count two read: “Fatuyi Yemi Philips and Oceanview Oil and Gas Nigeria Limited, on or about the 28th day of September, 2016, at Lagos, within the jurisdiction of this Honourable Court, stole the sum of N43,502,000.00, property of WAPCIL Nigeria Limited.”

He pleaded “not guilty” to the charges, which led to his full trial.

In the course of the trial, prosecution counsel M.S. Owede tendered several documentary evidences and called five witnesses to substantiate the allegations against him and his company.

The defence, on its part, called three witnesses during the trial.

Delivering judgment on Monday, Justice Dada held that the prosecution proved its case against the defendants beyond reasonable doubt.

Consequently, the judge sentenced Philips to 14 years imprisonment on count one and seven years on count two, without the option of a fine.

The sentences are to be served concurrently.

The judge also ordered the second defendant, Oceanview Oil and Gas Limited, to pay a fine of N500,000 (Five Hundred Thousand Naira) in respect of count one and another N250,000 (Two Hundred and Fifty Thousand Naira) in respect of count two within 30 days or be wound up.

The court further ordered the convicts to make restitution in the sum of $90,202.00 or the prevailing Naira equivalent to the nominal complainants.

Phillips’ journey to the Correctional Centre began when he collected the sum of N43,502,000 from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited, with a false promise of selling its dollar equivalent ($98,870.00) to them. He neither returned the naira nor the dollar equivalent to the petitioners.

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