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Emefiele Awarded CBN Contracts To His Companies, Banker Tells Court

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6 months ago

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A banker, Mrs Ifeoma Ogbonaya, on Tuesday told to the court how the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, abused his office by awarding CBN contracts to his personal firms.

 

Emefiele is standing trial, alongside one Henry Omoile, before Justice Rahman Oshodi of the Lagos State Special Offences Court in Ikeja.

 

In the 26 counts filed against him, Emefiele was accused of abuse of office and illegal allocation of $4.5bn, N2.8bn while he was CBN governor.

 

Ogbonna, who is the fifth prosecution witness, told the court on Tuesday that she never had any dealings with the ex-CBN governor but that she was receiving instructions from his wife, Mrs Margaret Emefiele, to transfer cash from CBN into their private company’s account.

 

She said apart from Mrs Emefiele she also received instructions from two other persons, Mr John Ogah and Mr Opeyemi Oludimu, who worked for the Emefiele.

 

The witness, who was led in evidence by the EFCC prosecutor, Mr Rotimi Oyedepo (SAN), told the court how she received the instructions via her official email, and other times through phone calls or WhatsApp.

 

She told Justice Oshodi that the companies that received the cash flow from CBN were Limelight Multidimensional Ltd, Kome Support Services Ltd; Ansbaswin Resources Ltd; and Mago Farm.

 

The witness testified that it was one Emmanuel who opened the accounts for Emefiele’s companies but that it was taken over by a new set of signatories in 2021.

 

She said the two signatories to the accounts are Mr Stephen and Mrs Patricia but that all transfer instructions that came to that account were instructed by Mrs Emefiele.

 

“Whenever she sent us instructions or sent it through the other two people who worked with them, I usually confirmed from her. All the transfers that came into that account were instructed by Madam Margaret Emefiele.

 

“Limelight manages the facilities of the CBN, located at Alakija. All transactions pertaining to power and fixing things that are not working were always done by the vendors.

 

“So far, Answabian was basically used to provide diesel to their vendors.

 

“They have a printing and minting company located at Ikoyi. For Kome, there were also facilities for the CBN guest house in Ikoyi.”

 

Ogbonna further told the court that between March 9, and 11, 2015, the account received cash flow from CBN, to the tune of N1, 792,593 and N18,869,400.

 

“On February 22, 2021, there was a cash flow of N42,988,758.75 from CBN; on July 21, 2022, there was a cash flow of N37,279,964.70; on October 21, 2022, there was a credit flow of N44,641,077.60; on May 10, 2023, there was a cash flow of N93,100,000, from CBN, among others.”

 

Earlier, Justice Oshodi granted Emefiele’s request to recall the first prosecution witness Monday Osazuwa, to enable the defence to cross-examine him afresh.

 

However, the case was adjourned till Jul

y 10 for the continuation of trial.

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Air Peace Secures Sixth IOSA Certification, Sets New Benchmark for Safety in African Aviation

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36 mins ago

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January 14, 2025

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With an unwavering focus on raising the bar in operational safety and excellence, West and Central Africa’s largest airline, Air Peace Limited, has secured its sixth consecutive International Air Transport Association Operational Safety Audit (IOSA) Certification. This milestone underscores Air Peace’s commitment to maintaining the highest global safety standards in aviation, cementing its position as a leader in the industry.
Welcoming guests to the presentation ceremony, Head of Quality, Air Peace Limited Engineer Patrick Achurefe, thanked the airline’s Chairman, Dr. Allen Ifechukwu Onyema, for his unwavering support throughout the rigorous audit process. “We are grateful to our chairman for believing in our capabilities and supporting the meticulous efforts required for this achievement”. He noted that Air Peace first earned its place on the IOSA registry in 2016, just two years after commencing operations. Since then, Air Peace has consistently met the stringent standards required to maintain this global recognition, achieving certifications in the years that followed. “I am elated that we did not disappoint, as the process managers involved in the audit demonstrated exceptional expertise and dedication”, he added.
Speaking at the event, Area Manager, West and Central Africa, IATA, Dr. Samson Fatokun commended Air Peace for being the pride of Nigeria. He noted the airline’s remarkable achievements in just a decade of its operations, insisting that it is not a mere fluke. “Air Peace’s presence on the IOSA registry is a testament to its unwavering dedication to safety, operational excellence, and professionalism. This milestone is not just a victory for the airline but a pride for Nigeria. It highlights that local carriers can operate at the highest international safety levels.”
While receiving the certificate, Chairman/CEO, Air Peace Limited, Dr. Allen Onyema expressed gratitude to the airline’s management team, who worked tirelessly to achieve this feat. “Today marks another significant milestone for our young and ambitious airline,” he said. He noted that the certification is an attestation to the hard work and dogged determination of the Board and Management of Air Peace in ensuring safety standards and just culture in the organization.
“This sixth IOSA certification is a testament to our commitment to global safety standards. It affirms that we are on the right track and provides our passengers with the confidence that their safety remains our top priority. I extend my heartfelt thanks to our management team and staff who have gone above and beyond to make this possible”, Dr. Onyema said.
Dr. Onyema also praised Nigeria’s Minister of Aviation and Aerospace Development, Hon. Festus Keyamo and President Bola Ahmed Tinubu for implementing progressive policies that are transforming the aviation sector. “Under the guidance of Minister Keyamo, Nigeria’s signing of the Cape Town Convention has opened new opportunities for the aviation industry. This move will enhance the capacity of local airlines, reduce operational costs, and ultimately lead to more competitive airfares. I also appreciate IATA for its unwavering support for the industry and for ensuring that African airlines like Air Peace have a seat at the global table,” Onyema added.
Present at the ceremony at the airline’s corporate headquarters in Lagos were IATA’s Area Manager & Head of Account Management for West & Central Africa, Dr. Samson Fatokun, Air Peace’s top executives, including Director of Flight Operations, Captain Augustin Kamano; Head of Training, Captain Gerald Udaya; Safety Manager,  Captain Godfrey Ogbogu; Head, Corporate Communications, Dr Ejike Ndiulo; Cabin Services Manager, Ikwo Iyanam, Head of IT, James Bello, and Head of Sales and Business Development, Davids Odeyemi.
This sixth IOSA certification is a major achievement for Air Peace, reflecting its deep-rooted safety culture, robust management systems, and commitment to continuous improvement. It sets a new benchmark for safety in African aviation and inspires other carriers across the continent to strive for similar excellence.
By consistently meeting and exceeding international safety standards, Air Peace reinforces its position as a leading voice in African aviation, a source of pride for Nigeria, and a trusted airline for millions of passengers globally.

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Fire Razes Popular Nnewi Auto Spare Parts Market In Anambra State

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40 mins ago

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January 14, 2025

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Popular “Afia Mgbede” in Nnewi Auto Spare Parts market in Anambra State, South-East Nigeria, has been razed by mysterious inferno.

The fire, we gathered, engulfed the popular market in the early hours of Tuesday, destroying goods and properties worth millions of naira.

A video clip of the unfortunate incident shows the market being burned without any presence of the Fire Service, both state and federal, as the crowd watched helplessly as the fire destroyed the market.

 

Although the exact cause of the inferno was yet to be investigated, a video clip shared on X by Leadership Newspapers showed the raging fire razed high-rise market buildings.

 

A voice was overheard in the video saying: “Afia Mgbede is on fire now. This is early Tuesday morning. Motor parts is on fire. All the Afia Mgbede motor parts market is completely burning. We don’t have Fire Service in Anambra State and it is very unfortunate.”

 

Meanwhile, when SaharaReporters reached out to the police in Anambra State for reaction, the Command’s spokesperson, SP Tochukwu Ikenga, said there was no such information before him.

 

He said, “There is no such report before me.”

 

Meanwhile, a resident of Nnewi, who gave his name as Sunday David, confirmed to SaharaReporters that the inferno started in the night and that no one knew the cause of the fire.

 

“It is not the entire Motor Spare Parts Market that got burnt but a market inside the Spare Parts Market called ‘Afia Mgbede market’.”

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National Assembly Decries Poor Remittances to Federation Account by MDAs

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3 hours ago

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January 14, 2025

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The National Assembly yesterday lamented the poor remittances of revenues generated in 2024 by ministries, departments and agencies of the federal government (MDAs) and some government-owned enterprises (GOEs) to the Federation Account.

The Chairman, Joint Senate and House of Representatives Committees on Finance, Senator Sani Musa, expressed the concern at an interactive session on the MDAs’ revenue projections for 2025.

The federal agencies and ministries whose accounting officers and Chief executive officers attended the meeting were the Nigeria Customs Service (NCS), Federal Road Safety Commission (FRSC) and Joint Admissions and Matriculation Board (JAMB).

They also included the Nigeria Immigration Service (NIS), Nigeria Communications Commission (NCC), and the Fiscal Responsibility Commission (FRC).

Sani said the National Assembly was not satisfied with the widening disparity between the substantial revenue accruals to the MDAs and their consistently low remittances to the federation account.

He added, “This trend undermines the government’s capacity to fund critical infrastructure and social services, calling to question issues of inefficiency, mismanagement and possible revenue leakages.”

The Committee Chairman explained that his committee’s mandate was to ensure transparency, accountability and efficiency in the financial operations of the agencies.

He said the committee would continue to scrutinise MDAs’ revenue projections, performance and adherence to statutory remittance obligations.

This, he said, was to identify systematic doubts and recommend actionable results to reverse the troubling patterns.

Musa sought the cooperation and understanding of all stakeholders at the interactive session.

He said it was imperative that accurate data, comprehensive records and open data were presented for the benefit of Nigerians.

He added, “Let us approach these tasks with a shared commitment to building a stronger, more accountable fiscal framework for Nigeria.

“I call on all of us to please be very open on all those areas that we know, even if they are not presented to us.”

He therefore directed all heads of Ministries, Departments, and Agencies (MDAs) to appear in person for the defense of their 2025 budget proposals, instead of merely submitting documents.

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