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Alleged N1.4bn Fraud: How NBA President, Paul Usoro Was Paid N700m – Witness

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Udom Idongesit, a prosecution witness in the case of an alleged N1.4 billion money laundering involving Paul Usoro, President, Nigerian Bar Association, NBA, on Wednesday, December 4, 2019, told Justice Rilwan Aikawa of the Federal High Court sitting in Ikoyi, Lagos how a sum of N700 million was paid into Usoro’s account on the instruction of Linus Nkan, a former Accountant-General, Akwa Ibom State.

Usoro was first arraigned before Justice Muslim Hassan of the same court on December 18, 2018.He was later re-arraigned on Friday, March 1, 2019 before Justice Aikawa on a 10- count charge.

One of the counts reads: “That you, Paul Usoro, SAN, Emmanuel Udom (currently constitutionally immune against criminal prosecution), Uwemedimo Thomas Nwoko (still at large), Nsikan Linus Nkan, Commissioner of Finance, Akwa Ibom State (still at large), Mfon Jacobson Udomah, Accountant-General, Akwa Ibom State (still at large) and Margaret Thompson Ukpe (still at large) sometime in 2015 in Nigeria, within the jurisdiction of this Honourable court, conspired amongst yourselves to commit an offence, to wit: conversion of the sum of N1. 410, 000, 000, 000.00 (One Billion, Four Hundred and Ten Million Naira), property of the Government of Akwa Ibom State of Nigeria, which sum you reasonably ought to have known forms part of the proceeds of an unlawful activity to wit: criminal breach of trust and thereby committed an offence contrary to Section 18(a) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under Section 15(3) of the same Act.”

At today’s sitting, Idongesit, a Relations Manager at the Aka Road branch of Zenith Bank in Uyo, Akwa Ibom State, told the court that the bank, on March 10, 2016, was given a withdrawal instrument of N700m on the imprest account of the Akwa Ibom State payable to Usoro’s Zenith Bank account.

Led in evidence by the prosecution counsel, Rotimi Oyedepo, the witness further said she made moves to get Usoro to open an account with the bank so that the money could be paid to him.

The witness also told the court that she opened an account for the defendant due to the fact he never had an account with the bank prior to that transaction.

She said she got Usoro’s contact from the Akwa Ibom State Governor, Udom Emmanuel, on March 14, 2016 and later put a call through to him to inform him about the payment.

Giving further testimony, Idongesit said: “Mr. Paul Usoro instructed me to work with two of his colleagues.

“When I confirmed the exact names registered on the form, I sought the approval of my Zonal Head to open the account and also made the deposit while waiting for documentation.

“I filled the deposit slip; and the depositor’s name that I filled was Paul Usoro.”

Idongesit further told the court that a sum of N300 million was first credited to the account on March 14, 2016 in cash and that more funds were subsequently credited to the account to the tune of N400 million.

The transactions, according to her, were carried out on the instructions of the defendant.

Idongesit, in her evidence, also told the court that monies were transferred to individuals and companies from the defendant’s account on his instructions.

“On March 22, 2016, Mr. Paul Usoro instructed me to transfer the sum of N2.5 million to one Assam Ekanem; N7.5 million to Taiwo Oyetibo & Co; N7.5 million to Oyechi Ipeaza; N5 million to Uzuegbu Nelson Aju; N30 million to OEB Offiong and N7.5 million to DD Dodo & Co.

“A transfer of N3million was also made to one Reginald Nwobbi; N2 million to Sevanne Chambers and N20 million to Theophilus Oyesanya,” she also stated.

The witness said there were emails to show and reflect the instructions given to her by the defendant regarding all the transactions.

The emails, instruments of payment, account opening package, certification of identification and statements of account were tendered by the prosecution counsel, Oyedepo, and admitted in evidence by the court.

Justice Aikawa adjourned the case till January 13 and February 11 and 12, 2020 for continuation of trial.

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Organiser unveils speakers, panelists for the 2024 Industry Summit

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The organiser of the Industry Summit, an annual gathering for professionals and experts in brand marketing, finance, sustainability, and entertainment, has announced the speakers for the fifth edition of the summit in Lagos.

 

 

 

The event themed: Sustainable Marketing for Growth would feature the marketing director of Nigerian Breweries Plc, Mr. Emmanuel Oriakhi as keynote speaker while the head of unit, sustainability at Access Bank, Mrs. Omobolanle Victor-Laniyan and manager brand, strategy & communications at Stanbic IBTC, Ms. Rita Akao would feature as guest speakers.

 

 

 

The summit, which is scheduled to hold on Friday, May 3rd, 2024 at the Marcelina’s Place Ikeja GRA, Lagos would feature some exhilarating panel sessions with some of the contemporary professionals in the Nigerian brand and marketing industry.

 

 

 

The panelists include; Ms. Chioma Mbanugo, Head of Marketing PZWILMAR, Mr. Abiodun Coker, Team Member Media, UBA, Mrs. Mabel Adeteye, Head, Brand & Marketing Communications, Wema Bank PLC, Mr. Kevin Olumese, Marketing Communications Specialist, and Mr. Adeola Kayode, Head, Brands & Creative Services, 9mobile Nigeria.

 

 

 

Others who have confirmed participation are Ms. Aisha Anaekwe, Head, Brands & Comms, Coronation Group, Mrs. Victoria N’dee Uwadoka, Public Relations, Public Affairs & Sustainability Lead, Nestle Nigeria Plc, Mr. Samson Adeoye, Public Relations Manager, Airtel Nigeria, Mrs. Oluwatosin Odiagbe, Marketing Manager, Simba Solar and Ms. Arinola Shobande, Head of Marketing, Showmax.

 

 

 

While Oriakhi would be speaking to the topic, ““New Age Marketing – Catalyzing Transformation Through Value Chain Innovation, Technology, Analytics & Sustainability”, Victor-Laniyan and Akao would present papers on the topics; “Aligning organizational objectives with sustainable marketing for the good of the people, society and business, and “Reimagining Sustainable Growth Through Green Marketing” respectively.

 

 

 

In the press statement signed by the Publisher of The Industry Newspaper/Convener of The Industry Summit/Awards (TIES), Mr. Goddie Ofose, he said that “The 5th edition of the Industry Summit is focusing on sustainable marketing, which is a purpose-driven practice that works to orientate businesses, brands and society towards a sustainable future, influencing appropriate awareness, aspiration, adoption and action across economic and sociocultural systems by taking necessary accountability for its impacts and opportunities.”

 

 

 

“In today’s ever-evolving world, debating whether to incorporate sustainability into business strategy is no longer an option. Considering a values-driven approach when developing business strategies can be vital to long-term success” he said.

 

 

 

Therefore, we have carefully selected these professionals and experts to deliberate on the subject matter, highlight challenges and proffer solutions where private and public sectors could take lessons from and improve upon whatever they have been doing,’ Ofose added.

 

 

 

The Industry Summit/Awards is a brainchild of The Industry Newspaper Limited, publishers of The Industry Newspaper (theindustry.ng) and 789marketing.ng.

 

 

 

The summit is designed to bring together industry leaders across the continent in all sectors in the quest to rev up conversations that will move the Nigeria business, economy and communication industry forward.

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IBEDC records 1,459 energy theft cases in January, February

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The Ibadan Electricity Distribution Company said it has recorded 1,459 cases of energy theft by its subscribers between January and February 2024.

This was disclosed in a press statement signed by the firm’s Chief Key Accounts Officer, Mr. Johnson Tinuoye, on Tuesday.

IBEDC added that it is actively pursuing investigations and legal actions against individuals and businesses involved in the theft in collaboration with the Federal Government Special Investigation and Prosecution Task Force on Electricity Offences.

Identifying the cases, IBEDC said they included various offences such as meter bypass and illegal meter tampering, which resulted in significant financial losses amounting to hundreds of millions of naira for the company.

The statement read, “We want to send a clear message to our customers that energy theft will not be tolerated. Our collaboration with the Federal Government Special Investigation and Prosecution Task Force on Electricity Offences underscores our commitment to ensuring a fair and just electricity distribution system.

“Energy theft not only undermines the integrity of our operations but also deprives IBEDC of the revenue necessary to provide quality services to our customers.”

Tinuoye emphasised that under the Electricity Act, energy theft is now recognised as a criminal offense, carrying severe penalties including imprisonment stressing, “In the Osun region, two individuals were apprehended for stealing energy through meter bypass and illegal connections. Their cases have been formally charged in court for prosecution.”

IBEDC further urged customers to refrain from engaging in any form of energy theft, emphasising that the consequences can be severe, as there is no room for negotiation with the SIPTEO Task Force team, which is actively patrolling and investigating instances of energy theft for prosecution.

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Copyright Breach: NCC Drags MTN, Others To Court Over Musician’s Works

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The Nigerian Copyright Commission (NCC) has filed criminal charges against MTN Nigeria Communications Ltd. and four others over alleged copyright infringement.

The charge with number FHC/ABJ/CR/111/2024 filed in the Abuja Division of the Federal High Court was obtained by journalists on Monday.

News Agency of Nigeria (NAN) reported that the four other defendants in the case include the chief executive officer of MTN Nigeria, Karl Toriola; Nkeakam Abhulimen, Fun Mobile Ltd.; and Yahaya Maibe.

In the three-count charge, NCC alleged that the defendants, between 2010 and 2017, “offered for sale, sold and traded for business’’, infringed the musical works of an artiste, Maleke Idowu Moye, without his consent and authorisation.

The commission alleged that the defendants used musical works and sound recordings of Mr Maleke with subsisting copyright as caller ringback tunes without the authorisation of the artiste.

The musician’s musical works and sound recordings allegedly infringed upon included 911, Minimini-wanawana, Stop Racism, Ewole, 911 instrumental, Radio, Low Waist, and No Bother.

The defendants were also alleged to have distributed the musical works to their subscribers without authorisation, thereby infringing on the rights of the artiste.

In the third count, the defendants were alleged to have in their possession, other than for their private or domestic use, the artiste’s musical works and sound recordings.

According to NCC, the alleged offences are contrary to and punishable under section 20 (2) (a) (b) and (c) of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

The case has yet to be assigned to any judge, and no date has been fixed for the mention.

Meanwhile, no official statement has been released by any of the defendants as at the time of filing this report, while all efforts to get reactions from MTN by New Telegraph proved abortive.

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