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BAYO ADELABU ON THE RUN!! AS EFCC QUIZZES THE CBN Deputy Governor Over Alleged Fraud… ——-As A Thick, Dark Cloud Hovers Over His Vaulting Ambition To Govern Oyo State May Be Charged To Court For Fraud

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Adebayo Adegoke Adelabu, Deputy Governor, Operations Directorate, of the Central Bank of Nigeria, CBN, has his eyes fixed on one goal: to succeed Governor Abiola Ajimobi, after the expiration of his eight-year tenure in 2019.

Unfortunately, a dark cloud currently hovers over Adelabu’s vaulting ambition, as he is currently battling to extricate himself from the web of allegations, bothering on fraud and abuse of office.

Last Monday, 7 August, Adelabu was a guest of the Economic and Financial Crimes Commission ( EFCC). He was quizzed by the anti-graft agency for hours over his role in the alleged siphoning of shareholder funds via phoney loans a first generation bank, where he previously served as Executive Director and Chief Financial Officer.

Sources disclosed that Adelabu, allegedly, connived with a former Managing Director of the apex bank,  to arbitrarily approve loans running into several billions of naira which have since gone bad.

Sources disclosed to us that Adelabu was interrogated for hours on Monday at the Ikoyi, Lagos office of the EFCC and was subsequently released on administrative bail. EFCC sources revealed he is expected to return to the agency for further questioning and may be charged to court for fraud and insider abuse when investigations are concluded.

 

The EFCC is reportedly beaming its searchlight on investigating the billions of naira in bad loans approved for the popular businessman’s companies during his tenure as Chairman of the bank. The recklessness, vagrantly by the bank’s top shots, prompted the CBN to introduce stiffer corporate governance rules to protect shareholder funds from being abused by insiders.

Findings revealed that the embattled CBN deputy governor set himself up for disgrace by his wanton desire to acquire wealth, like Diezani Alison Madueke, the former Miniter of Petroleum Resources.

In Adelabu’s case, many other accidental deep pockets have probably learnt few hard lessons on the dos and don’ts of executive banking, morality and citizenship. This are certainly the worst of times for him. Adelabu, who is believed to have amassed a huge war chest, is preparing a bid for the governorship of Oyo State in 2019.

A grandson of political icon, late Chief Adegoke Adelabu (aka Penkelemesi), the younger Adelabu has held the positions of General Manager as the West African Regional Head of Finance and Strategy (Consumer Banking Business) for Standard Chartered Bank from where he was head-hunted in 2009. A First Class degree holder in Accounting from Obafemi Awolowo University, Ile-Ife, fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and member of the Institute of Directors of Nigeria (IoD), Adelabu is alleged to be the highly favoured by the incumbent governor to succeed him come 2019.

 

 

SOURCE: THE ELLITES

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Appeal Court Reinstates Adeleke As Winner Of Osun Governorship Poll

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The Court of Appeal in Abuja has ruled that Governor Ademola Adeleke of the Peoples Democratic Party (PDP) is the winner of the Osun state governorship election.

At its sitting on Thursday, the appellate court nullified the judgement of the election tribunal declaring Gboyega Oyetola of the All Progressives Congress (APC) winner of the election.

Oyetola was declared the winner by the election tribunal after he went to court to challenge the victory of Adeleke, as announced by the Independent National Electoral Commission (INEC).

Delivering judgment on January 27, two out of the three-member panel held that the former governor was able to prove that there was over-voting in some of the polling units.

Adeleke had rejected the judgment, describing it as “a miscarriage of justice” and “an unfair interpretation against the will of majority of voters”.

In the 31 grounds of appeal, Adeleke begged the court for “an order setting aside the whole decision of the tribunal”.

He also sought “an order striking out the petition for want of competence and jurisdiction or in the alternative, an order dismissing the petition on the merit”.

Adeleke submitted that the tribunal exhibited bias when it said: “The second respondent cannot ‘go lo lo lo lo’ and ‘buga won’ as the duly elected governor of Osun state.”

The appellate court, in a unanimous decision by a three-member panel of Justices on Friday, held that the appeal the governor lodged to challenge his sacking by the Osun State Governorship Election Petition Tribunal, was meritorious.

Aside from setting aside the judgement of the tribunal, the court, in its lead judgement that was delivered by Justice Mohammed Lawal, awarded N500,000 cost against APC and its candidate, Oyetola.

 

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Travel Agent, Abioye Abolaji arraigned for visa fraud linked to 77 applicants

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The Police Special Fraud Unit in Lagos State has arraigned a travel agent, Abioye Abolaji, for alleged visa racketeering, including the forging of the United Nations invitation letters for no fewer than 77 visa applicants in the state.

The spokesperson for the PSFU, SP Eyitayo Johnson, in a statement on Thursday, said Abolaji was arraigned on 11 counts bordering on alleged forgery, obtaining money by false pretence, false representation and stealing.

He said, “The arrest of the suspect was in furtherance to a petition from the Diplomatic Security Services Regional Security office at the United States Consulate General, Lagos, which requested a discrete investigation into forged documents submitted by certain C-2 visa applicants to the Non-Immigrant Visa Unit of the USCG. The C-2 visa is an NIV category reserved for participants at United Nations conferences/events.

“An investigation by the USCG and the PSFU into 77 C-2 applications from 24 organisations in Nigeria to attend two separate conferences, including the 67th session of the UN Commission on the Status of Women and the UN 2023 Water Conference scheduled to take place in New York between March 22 and 24, 2023, revealed that most of the applicants are not qualified for the visa classification they applied for because the applicants provided forged UN invitation letters.

“The applicants, who claimed to be employees of Osun and Sons Agricultural Venture, Ray D. Exclusive Electrical Contractor, or ACE Technoresources Integrated Services, planned to attend the UN Water Conference as representatives or nominees of these organisations but investigation revealed that none of the organisations is in consultative status with the UN and that the employment of most of the applicants had no bearing to either of the referenced UN conferences.”

Johnson said further information elicited during police interviews of the visa applicants led to the arrest of Abolaji, who was described as the arrowhead of a notorious syndicate that specialised in visa fraud.

“Consequently, the Commissioner of Police, PSFU, Adepoju Ilori, advised prospective visa applicants to desist from patronising document vendors/visa racketeers for the processing of category B-1 and B-2 visas or any other travel documents.

The CP further encouraged applicants to research the procedure/requirements of visa for their intended country of destination or to approach the diplomatic section of the PSFU for guidance in order not to fall victim to visa racketeers. The unit is currently on the trail of other members of the syndicate,” the statement said.

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I Never Told Anyone That I Will Die Soon – Odumeje

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Controversial Anambra-based fiery pastor, Chukwuemeka Ohanaemere, popularly known as Odumeje has dismissed the rumour saying that he declared he would die soon.

Report had emerged that Odumeje, during Sunday service at Mountain of Holy Ghost Intervention and Deliverance Ministry, Onitsha, said he had completed his assignments on earth and was time to go.

The reports also alleged that the death announcement might not be unconnected with the demolition of part of his church recently by the State Government.

According to the reports, while the news came to some members of the congregation as surprise, others wept, saying they don’t want him to leave them soon.

But speaking on phone, Okoye described such news as untrue, saying the prophet never instructed his son, David to take care of his house after his death.

She said, is not true (that prophet Odumeje said during Church service last Sunday that he will die soon).

You know that some people when they want to destroy someone’s image, they will write something with your name and put it in a YouTube and say that you said it.

The prophet never instructed his son, David to take care of his house and that he will die soon.

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