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Investors To CMB Real Estate Cry Out Over Fraudulent Activities Of The Company

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*Investors Seek intervention of anti-graft agencies

CMB building Maintenance and Investment Company is currently embroiled in controversy and allegation of corruption, unlawful breach of trust, enrichment and conversion.

The Chief Executive Officer of CMB, Mr Kelechukwu Mbagwu, it was learnt, is currently the President of the Nigeria Rugby Football Federation (NRFF) and a Vice-President of Kings College Old Boys Association.

According to reports and information publicly available and published by Guardian newspapers on Monday 3rd June, 2019, Page 58, he was alleged to have fraudulently obtained bank loans by mortgaging the properties of homeowners in the prestigious Pearl Garden Estate Residential community without their knowledge.

In a petition before the Economic and Financial Crimes Commission (EFCC), CMB obtained a loan from the Diamond Bank by using the houses of four of the residents as collateral for the loans without their knowledge.

According to information available on social media, several frauds running into billions of Naira have been perpetrated against innocent real estate prospectors. The scheme ranges from the Pearl Royale I & II, Pearl Garden Estate, Pearl Nuga Park, Pearl Nuga Park Extension, Pearl Garden Extension. Several customers who purchased land in the fictitious Pearl Royale Scheme over a decade ago are yet to be shown the location of the scheme, let alone receive an allocation of their land.

Upon further investigation, it was revealed that several homeowners in the Pearl Garden Estate scheme had paid CMB money over several years while the houses are yet to be delivered. Similarly, plots of land that were purchased several years ago were currently being fraudulently resold to unsuspecting clients.

According to sources, CMB allegedly owes Diamond Bank (now Access Bank) several hundred millions of Naira which may have been secured using the properties of CMB’s customers without their knowledge. Many of the affected homeowners are at the risk of losing their houses and investments due this illegal process.

Information gathered reveal that CMB has not denied any of the petitions before the EFCC as alleged. When Mbagwu was contacted to respond by confirming or denying the allegations, he said he was in a meeting with a promise to call back, which he never did. When called again, he refused to pick his calls and refused to respond to short messages (SMS) sent to him by our reporter.

CMB it was also learnt owes several other banking institutions within and outside Nigeria including Wema Bank and Shelter Afrique.

The CMB chief, it was gathered, is well-connected and can easily have his way easily through issues. For having his office located on the highbrow Ruxton Road, Ikoyi, and having some important personalities on the board of his company confirms this, our source added.

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Ex Governor Abdullahi Ganduje, Wife, others To Be Arraigned April 17 Over Dollar Video…..

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The Kano High Court is set to arraign Kano State’s immediate previous governor, Abdullahi Ganduje, on April 17, 2024, on charges of bribery, diversion, and theft of money, including the alleged acceptance of $413,000 and N1.38 billion in bribes.

Haruna Dederi, Kano State Attorney General and Commissioner of Justice, confirmed the situation, saying Ganduje would be charged with his wife and six others.

The accused individuals named in the summons are Abdullahi Umar Ganduje, Hafsat Umar, Abubakar Bawuro, Umar Abdullahi Umar, Jibrilla Muhammad, Lamash Properties Ltd, Safari Textiles Ltd, and Lesage General Enterprises.

The Kano State Government, which initiated the criminal suit against the eight respondents, has declared its readiness to present 15 witnesses to testify before Justice Usman Na’aba of State High Court number four.

“It is very true. We have filed the case and it’s going to hold on the 17th of April, 2024. What I cannot confirm is whether he is served or not, but he will definitely be served,” he said.

Dederi further highlighted the significance of accountability in governance, remarking, “What he (Ganduje) doesn’t understand is that you cannot run away from the evil day, it will definitely come to you, and this will even serve as a deterrence to all of us that are also in government now.”

The commissioner also addressed the jurisdictional aspect of the case, asserting,
“He was saying that we can’t prosecute him, forgetting that the offence also falls under the category of the state offences,” he said.

“It’s not totally a federal affair and we have even appealed to Justice Liman ruling on that.”

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Just In: Emefiele arrives Lagos court for arraignment

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The embattled former Central Bank of Nigeria Governor, Godwin Emefiele, has arrived at the Ikeja State High Court in Lagos for
his arraignment over alleged abuse of office and allocation of billions of dollars.

Emefiele, alongside his co-defendant, one Henry Isioma Omole, will be arraigned on fresh 26 counts before Justice Rahman Oshodi this morning.

In the charge marked ID/23787c/2024 and dated April 3, 2024, the EFCC alleged that Emefiele abused his office between 2022 and 2023 in Lagos.

The commission alleged that the former CBN governor “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”

Details later…

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Look Beyond Sentiments, Fagade Urges Critics of Tinubu’s Appointments… Congratulates FIRS Boss, Zacch Adedeji

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Businessman and chieftain of the All Progressives Congress (APC) in Oyo state, Chief Abisoye Fagade has told those accusing President Bola Ahmed Tinubu of nepotism to jettison primordial sentiments, vindictiveness and bitterness with a view to supporting the current administration in its drive to take Nigeria out of the doldrums.

Fagade’s submission came against the background of insinuations from some quarters that appointments made so far by President Bola Tinubu was skewed in favour of the Yoruba ethnic group or people in the south western part of the country even though there have been counter reactions from eminent personalities from all parts of the country that the accusation of nepotism against Mr. President was unfounded and invalid.

In a statement issued on Wednesday and made available to journalists in Ibadan, Fagade described the Tuesday confirmation of Dr. Zacch Adedeji as the substantive chairman of the Federal Inland Revenue Service (FIRS) by the Nigerian Senate as “a step in the right direction taken to facilitate the quick realization of economic recovery agenda of the Tinubu administration.

“The appointment of Dr. Adedeji as the FIRS boss as well as other cerebral financial and economic management experts to man one key post or the other in the current administration will no doubt yield the desired results as Nigerians should expect economic rejuvenation, wealth creation and naira stability in no time. Governance is no tea party and one fundamental thing in the life of any government is having the right peg in the right hole and not the other way round.

“It is essential we congratulate our own Zacch Adedeji on the confirmation of his appointment as the FIRS boss by the Nigerian Senate in view of the fact that our confidence and trust in him as a competent administrator, seasoned financial expert and unique patriot remain constant. There are high expectations about Nigerian economy being diversified for obvious reasons by the Tinubu administration and we believe with the likes of Adedeji in FIRS, the goal would be achieved sooner than later.

“Above all, we appeal to all stakeholders in the affairs of our dear country to always eschew jingoism, ethnic biases or religious consideration on any matter relating to the interest of the most populous black nation in the world. The time to fix Nigeria is now and with the person of President Tinubu at the helms of affairs, the massive turnaround desired in our socio-economic and political architecture would begin to materialize very soon and it would not only be consolidated but also sustained for the collective benefits of all and sundry”. Fagade stated.

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