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EFCC arraigns man for alleged N600m, $50,000 investment fraud

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The Economic and Financial Crimes Commission, on Monday, arraigned one Ayodele Toyosi for an alleged investment fraud before a Lagos State High Court in Ikeja.

The defendant was arraigned alongside his companies, Reaprite Global Limited and Agrorite Limited, on 11 charges bordering on obtaining by false pretence and stealing to the tune of N600,150,000,00 and $50,000.00.

A statement by the EFCC’s spokesperson, Dele Oyewale, said
investigation revealed that the defendant allegedly defrauded some persons on the pretence that he had an interest-yielding investment in agricultural export.

One of the counts read, “That you, Ayodele Toyosi, Reaprite Global Limited and Agrorite Limited, sometime in June 2023 in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your use the aggregate sum of N200,000,000.00 belonging to one K. C. Akoson Investment Limited and Kenneth C. Maduakor by dishonestly representing to them that you will help them transfer the said money to their importers in China whereas you expended the money for your personal use and committed an offence contrary to Sections 278 (1) (b) (f) of the Criminal Law of Lagos State 2011,” among others.

However, the defendant pleaded “not guilty” to the offence.

Given his plea, the prosecution counsel, G. C Akaogu, prayed the defendant be remanded in the EFCC’s custody for the continuation of the investigations of other petitions pending against him.

Responding, the defence counsel, Olalekan Ojo, prayed the court to remand the defendant to the Ikoyi Correctional facility, while he also sought a date for the hearing of the bail application.

After listening to both counsels, Justice A.M Lawal adjourned the matter till August 21, 2024, for the hearing of the bail application and also remanded the defendant in the Ikoyi Correctional facility.

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Breaking News: Court bars VIO from stopping, impounding, confiscating vehicles..

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A Federal High Court in Abuja has issued an order barring the Directorate of Road Traffic Services (otherwise known as VIO) from further stopping vehicles on the road, impounding or confiscating vehicles, and imposing fines on motorists.

 

Justice Evelyn Maha issued the order in a judgment on a fundamental rights enforcement suit: FHC/ABJ/CS/1695/2023 filed by a human rights activist and public interest attorney, Abubakar Marshal, reports The Nation.

 

 

Also affected by the order are the Director of Road Transport; the Area Commander, Jabi, and the Team Leader, Jabi, and the Minister of the FCT, also listed as respondents.

 

 

In the judgment delivered on Wednesday, October 2, Justice Maha upheld Marshal’s argument that no law empowers respondents to stop, impound, confiscate, seize, or impose fines on motorists.

 

The judge declared that the first to the 4th respondents, who are under the control of the 5th respondent (Minister of the FCT) are not empowered by any law or statute to stop, impound, or confiscate the vehicles of motorists and or impose fines on motorists.

 

She proceeded to issue an order restraining the 1st to 4th respondents either through their agents, servants, and or assigns from impounding, confiscating the vehicle of motorists, and or imposing a fine on any motorist as doing so is wrongful, oppressive, and unlawful by themselves.

 

 

Justice Maha further made an order of perpetual injunction restraining the respondents whether by themselves, agents, privies, allies or anybody acting on behalf of the 1st respondent from further violating the rights of Nigerians to freedom of movement, presumption of innocence and right to own property without lawful justification.

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Zenith Bank Assures Customers on Seamless Transactions, Apologizes for Disruptions During Infrastructure Upgrade

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Nigeria’s leading financial institution, Zenith Bank, has reassured its customers of improved services following recent infrastructure upgrades.

 

In a message posted on Thursday, the bank apologised for the service disruptions experienced across its e-channels during the upgrade period.

 

The bank clarified that the glitches were a result of routine information and technology maintenance, which is essential for optimizing service delivery.

 

Zenith Bank emphasized its commitment to ensuring 100% uptime, stating that it takes this responsibility “very personally” and continuously allocates resources to maintain uninterrupted service availability.

 

In the statement, the bank expressed its sincere apologies for any inconvenience caused to customers during the upgrade process, highlighting that the information technology enhancements are designed to improve the quality of service for its esteemed clientele.

 

The message reads in part:

 

Dear Valued Customer,

 

We sincerely apologise for the service disruptions you experienced recently on our banking channels. This was due to an information Technology upgrade aimed at improving the quality of service we provide.

 

We have made significant progress with the upgrade and you can now perform transactions conveniently with the following Zenith bank Channels:

 

Your Zenith Bank Debit Card

The Zenith Bank Mobile App

The Zenith bank Internet Banking Platform

Zenith Agents nationwide (Agent Banking)

 

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Just In: Tinubu Set To Embark on  Two-weeks Annual Leave.

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President Bola Ahmed Tinubu has announced a two-week annual leave

 

According to Bayo Onanuga Special Adviser to the President (Information & Strategy) President Bola Tinubu will depart Abuja today for the United Kingdom to begin a two-week vacation, part of his yearly leave.

 

He will use the two weeks as a working vacation and a retreat to reflect on his administration’s economic reforms.

 

He will return to the country after the leave expires.

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