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How Diezani Laundered $115m through Fidelity Bank, Gave Belgore, Sulaiman N450m…Bank Officials…

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Mr Timothy Olaobaju, an official of Fidelity Bank Plc has narrated how  former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke deposited a sum of $115,010,000 in the bank with subsequent instruction to change it into naira and distribute it among individuals in the 36 states of the federation.

Among the beneficiaries, Olaobaju said, were a Senior Advocate of Nigeria, Mr Dele Belgore; and a former Minister of National Planning, Prof. Abubakar Sulaiman, who both received N450m.

Olaobaju said this on Monday when he appeared as a prosecution witness before Justice Rilwan Aikawa of the Federal High Court in Lagos where Belgore and Sulaiman are being tried for alleged money laundering involving N450m.

The Economic and Financial Crimes Commission charged Belgore and Sulaiman with five counts.

Charged along with the SAN and the ex-minister is Diezani, who is said to “still be at large.”

The EFCC had earlier arraigned Belgore and Sulaiman on February 8, 2017, but they were re-arraigned on Monday on an amended charge which included the name of Diezani.

Upon their re-arraignment on Monday, Belgore and Sulaiman pleaded not guilty to the five charges just as they had earlier done.

Trial commenced immediately after the defendants’ plea with the EFCC calling Olaobaju as its first witness.

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Led in evidence by the EFCC prosecutor, Mr Rotimi Oyedepo, the witness narrated, “Sometime in April 2014, our MD, Mr Nnamdi Okonkwo, gave a directive that certain companies and individuals would pay into an account with our bank some amounts of money. The purpose of the payment was not disclosed.

“Over the period, thereafter, some amounts were paid into the account. The funds were deposited in dollar. The total sum was $115,010,000.

“On the 27th of March, 2015, there was an instruction from the former Petroleum Resources Minister, Diezani Alison-Madueke, through our MD, that the fund in the account should be converted to naira and paid to certain individuals of which the list of beneficiaries was sent to our MD and the amount to be paid to them in naira.

“The funds were paid according to Alison-Madueke’s instructions.

“On the list sent to our branch, the names of the defendants (Belgore and Sulaiman) were on that list because the money was paid in about 36 states of the federation.

“The defendants are not customers of our bank.

“The instruction was that the sum of N450m should be paid to Mr Dele Belgore (SAN) and Prof. Abubakar Suleiman.

“They both received the money and they filled the Receipt of Payment as evidence of receipt of the money and acknowledgement of same.”

The witness said Belgore and Sulaiman signed separate Receipts of Payment for the same N450m on March 26, 2015.

The court admitted both Receipts of Payment in evidence and marked them as Exhibits 1 and 1A.

Asked by the prosecutor whether any cheque was issued in favour of Belgore and Sulaiman in respect of the fund, the witness answered in the negative.

Asked whether the N450m was credited into any account, the witness said, “To my knowledge, the N450m was not credited into any account.”

For the cross-examination of the witness, Belgore’s lawyer, Chief Ebun Shofunde (SAN), asked for an adjournment, as he said most of what the witness said on Monday were not in the proof of evidence front-loaded and served on the defence counsel.

Sulaiman’s lawyer, Mr Olatunji Ayanlaja (SAN), aligned himself with Shofunde.

The prosecutor said he would grudgingly concede to an adjournment till Tuesday in view of his respect for the defence counsel.

Justice Aikawa, consequently, adjourned the matter till Tuesday for further proceedings.

In the charges, Sulaiman, a professor of Political Science and International Relations at the University of Abuja, and Belgore, a former governorship aspirant in Kwara State, were accused of conspiring between themselves to commit the offence on March 27, 2015.

The duo were accused of making a cash transaction of N450m on March 27, 2015, without going through any financial institution.

The EFCC claimed that the defendants paid N50m to one Sheriff Shagaya.

The EFCC said the cash sum was above the lawful threshold permitted by the Money Laundering (Prohibition) Act.

The EFCC claimed that the defendants “ought to have reasonably known that the N450m formed part of proceeds of an unlawful act.”

Belogore and Sulaiman were accused of violating sections 1(a), 16(d), 15(2)(d) and18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012.

The prosecution said they are liable to be punished under sections 15(3)(4), and 16(2)(b) of the same Act.

Justice Aikawa had earlier granted them bail on self-recognisance.

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Oando Clean Energy, Cross River State, Sign MoU on Renewable Energy Infrastructure

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Oando Clean Energy (OCEL),  the renewable energy business subsidiary of Oando Energy Resources and the Cross River State Government have  signed a memorandum of understanding (MoU) for the rollout of electric vehicles for mass transportation within the state at the ongoing 28th edition Conference of the Parties (COP28) in Dubai, United Arab Emirates (UAE).

The move in setting up an electric vehicle (EV) assembly plant, is expected to create jobs for local indigenes as well as build a 100MW wind plant for power generation.

Representing the Governor of Cross River State, Bassey Otu at the MoU signing was the state’s Commissioner for Special Duties, Oden Ewa, saying the landmark agreement marked a significant step forward in the state’s journey toward a cleaner and more sustainable future. He said: “The MoU paves the way for the transitioning of our mass transit system to cleaner and less expensive fuels while also allowing for the use of our natural resource, wind, to provide electrification for our people.

“I commend Oando Clean Energy for their innovative solutions that address the impact of climate change in Nigeria and her citizens.”

According to Oando , it said,  as  a company, it has committed to ensuring that this journey to a cleaner and more sustainable energy future is as seamless and as easy as possible.

“This is by putting our confidence in, not only the technology but the partnership and ensuring that the Cross River State government and her people reap the benefits of generating power from sustainable sources”. The statement read.

Oando’s Clean Energy’s scope spans the entire 35 states of the federation and the federal capital, promising to create a cleaner, more viable energy ecosystem for Nigeria and the  people of Cross River.

In attendance at the side event were amongst others, Minister of Niger Delta Affairs, Abubakar Momoh;  Minister of the Environment, Abbas Balarabe;  Minister of State for Environment, Dr. Kunle Salako; Commissioner for Special Duties, Cross River State, Mr. Oden Ewa, among others.

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House Of Representatives Issues Warrant Of Arrest On Central Bank Governor, Cardoso, Accountant-General, 17 Others

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The House of Representatives’ Committee on Public Petitions has asked for a warrant of arrest to be issued on the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, the Accountant-General of the Federation (AGF), Oluwatoyin Madein, and 17 others over refusal to appear before it to answer questions on their operations.

It was gathered that the issuance of the arrest warrant was sequel to the adoption of a motion moved by Fred Agbedi, representing Ekeremo/Sagbama Federal Constituency of Bayelsa State on the platform of the Peoples Democratic Party (PDP) at the committee’s hearing on Tuesday.

Agbedi, while moving the motion, said that the arrest warrant had become imperative following the attitude of the invitees, adding that the parliament worked with time and the CEOs had been invited four times but failed to respond to the invitations.

Agbedi said that the CBN Governor, the AGF and the rest of the invitees should be brought to appear before the committee by the Inspector General of Police through a warrant of arrest after due diligence by the House Speaker, Rep Tajudeen Abbas.

The Chairman of the Committee, Micheal Irom (APC-Cross River), in his ruling said that the Inspector-General of Police should ensure the invitees were brought before the committee on December 14.
It was gathered that the petitioner, Fidelis Uzowanem, had earlier said that the petition was anchored on the Nigeria Extractive Industries Transparency Initiative (NEITI) 2021 report.

Irom said, “We took up the challenge to examine the report and discovered that what NEITI put together as a report is only consolidation of fraud that has been going on in the oil and gas industry.

“It dates back to 2016 because we have been following and we put up a petition to this committee to examine what has happened.

“The 2024 budget of 27.5 trillion that has been proposed can be confidently funded from the recoverable amount that we identified in the NEITI report.

“It is basically a concealment of illegal transactions that took place in NNPCL; they have been in a sink with some oil companies where some companies that did not produce crude were paid cash core, an amount paid for crude oil production.”

 

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FCTA uncovers illegal oil refining warehouse in Abuja

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In continuation of the city cleaning exercise, Authorities of the Federal Capital Territory Administration (FCTA) with operatives of security personnel have uncovered an illegal oil refining warehouse in Mabushi, opposite Mobile filling station on Ahmadu Bello way in Abuja.

 

The Director, Department of Development Control, FCTA, Mukhtar Galadima after the operation on Thursday, said the illegal refining site was discovered during the continuation of the city cleaning exercise.

 

According to him, about three to four plot of lands designated for commercial purposes have been converted to an area where oil and diesel are being adulterated and circulated to other parts of the city.

 

Galadima explained that the city sanitation task force will look into the provision of the law and make necessary recommendations to the FCT Administration for further actions on the plots used for the activity.

 

He said there was no arrest but the items used in carrying out the illegal refining have been impounded.

 

Galadima said, “During the continuation of our city sanitation exercise in Mabushi opposite Mobile filling station on Ahmadu way, we discovered an illegal refining site where oil and diesel are being adulterated, we have done the needful by moving the items to Nigerian Security and Civil Defence Corps.

 

“From what we have seen so far, about three or four pilot of lands designated for commercial purposes have been converted to unapproved activities, which we believe the owners are fully aware, there will be consequences.

 

“We are going to look at the provision of the law and make necessary recommendations to the FCT Administration”

 

He said the administration will continue to go tough on activities being carried out without government approval,  especially revocation of the titles.

 

Collaborating, Head, operations FCT Directorate of Road Traffic Service (DRTS), Deborah Osho said the city management team during the exercise also discovered that most of the areas in the Nation’s capital have been converted to illegal car mart and motor parks.

 

She disclosed that fifteen vehicles have so far been impounded since the operation commenced about two days.

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