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Ngozi Ekeoma: How Nepal Oil boss defrauded Nigeria of $10m

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Mr. and Mrs. Ekeoma further instructed him and one Ugochukuwu Onwugbuna to form a firm in Liberia called Dexter Oil Limited to conduct oil trading transactions.

Ngozi Ekeoma, CEO of Nepal Oil and Gas Services Limited, might face jail time for allegedly defrauding the government of $10 million in subsidies.
This is in response to a recent plea by Chukwuemeka Ekwnuife, a former banker, to the Honorable Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami SAN, over the alleged scam, ENigeria Newspaper understands.

The former banker requested the AGF to compel the Economic and Financial Crimes Commission, EFCC, to prosecute Ekeoma and submit its previously completed investigative report on the oil marketer, according to this publication.

“Re: Petition against Mrs Ngozi Ekeoma and Mr Eme Ekeoma of Nepal Oil and Gas Services for theft, fraud, and collecting over $10 million under the petroleum subsidy scheme,” Ekwnuife said in a letter dated October 12, 2020.

According to him, the EFCC has been dragging its feet on the petition written by his attorneys, George Ikoli and Okagbue, dated October 22, 2018, and his letter of reminder of supplementary on the fraudulent activities by Mrs Ekeoma and her husband for about two years.

While expressing his discontent with the EFCC’s handling of his petition, Ekwnuife stated that he had promised to provide more information about the alleged subsidy transaction that occurred in Liberia and Nigeria in 2014, but that no invitation had been given to him.

“I’ve been on trial for claims relating to these transactions that were twisted to accuse me, and I’ve decided to tell the world the truth about my ordeal, but the EFCC has opted not to perform its job, with all due respect, and come out with its conclusions.

“For the umpteenth time, I have decided to file this petition to request an investigation into my complaint against Mrs Ngozi Ekeoma, assuming that this will yield the desired result. The exemplary integrity the Ministry of Justice and the office of the AGF have demonstrated since assumption of leadership has given me the confidence to send this letter,” Ekwunife continued.

The former banker, who left Sterling Bank in 2014, told the Lagos Special Offences Court in Ikeja that the businesswoman pleaded with him to join her company and help her issue credit to her businesses.

Mr. and Mrs. Ekeoma further instructed him and one Ugochukuwu Onwugbuna to form a firm in Liberia called Dexter Oil Limited to conduct oil trading transactions.

In an earlier petition to the EFCC, through his solicitors, George Ikoli and Okagbue, dated October 22, 2018, the petitioner additionally included documentation demonstrating Mrs Ngozi Ekeoma and her companies’ fraudulent operational activities (and received on Nov. 6, 2018).

The suit states, “The records represent evidence of the transfer of Premium Motor Spirit (PMS) intended for consumption in Nigeria to boats for later sale overseas.”

Meanwhile, Ekwunife is facing an eight-count allegation of stealing, together with Structured Energy Limited, for taking a total of N168.5 million from Mrs Ngozi Ekeoma’s enterprises.

The EFCC claims that Ekwunife stole the money from M.R.S Oil and Gas, Exit Energy Limited, Globin Oil and Gas Limited, Bond Energy, and Greenage Energy Limited, all of which are Nepal Oil and Gas Limited properties, at various periods in 2014.

However, in his defense, Ekwunife claimed that Mrs. Ekeoma, the owner of Nepal Oil and Gas Limited, used him to arrange fake papers in Liberia in order to receive money from the Federal government through a subsidy system.

Mrs Ekeoma testified that Ekwunife assisted her in registering many companies in Liberia to enable her to import various petroleum goods, mainly Premium Motor Spirit (PMS), under the petroleum scheme fund (subsidy scheme) with the FG.

According to the ex-banker, the oil marketer used him to facilitate bogus papers in Liberia in order to steal millions of Naira from the Nigerian government through the subsidy scheme.

“I assisted her in setting up several firms like Structured Energy Resources Limited, Dexter Oil Limited, Ritrak Supply and Trading Limited, Gulf Trading and Shipping Limited – all registered in Liberia,” Ekwunife stated in his evidence.

“At various times, these firms were utilised by the Federal Republic of Nigeria to carry out transactions and documentation relating to subsidies. We created supporting documentation such as the Bill of Laden, product recertification, quality certificate, and certificate of origin.

These documents were created outside of Nigeria’s borders and used for trades that never took place in the country. For non-live trades, the documentation was completed in Liberia (feasible).

“We (referring to himself and Mrs Ngozi Ekeoma) exploited these documents to carry out fraudulent activities in Nigeria by using documents drafted outside the nation to conduct commerce that was not supposed to take place,” he said.

Another witness, Mr Anthony Abraham, had previously testified in court that there is a tie between a former banker, Chukwuemka Ekwunife, and a businesswoman, Mrs Ngozi Ekeoma, in an alleged subsidy scam that occurred in Liberia and Nigeria in 2014.

Mr. Abraham, a financial consultant, said he met Ekwunife in Liberia while attempting to open accounts and register several businesses.

Mr Abraham stated that he was introduced to Ekwunife by a former client and a friend, but that he couldn’t recall who that person was.

Mrs Ekeoma Ngosi, the financial expert said, was a friend long before he met Ekwunife, whom he only met while working for a bank in Liberia, First International Bank.

“I met the defendant, Chukwuemeka Ekwunife, while working in Liberia for a bank named First International Bank. He came to Liberia to do business, intending to open accounts and register several firms. He was referred to me by a former client and friend of mine, whose name I don’t recall,” he explained.

The witness stated he couldn’t remember if that friend was Mrs Ngozi Ekeoma when asked.
The defense counsel, on the other hand, handed the witness a document containing multiple emails of transactions that he sent to Ekwunife and copied Mr and Mrs Ekeoma, and asked him to identify it.
The witness identified the emails and said, “Yes I sent these mails to Tochukwu71@yahoo.com (belonging to Ekwunife) and I copied three others namely; Ekeoma_Eme@hotmail.com (belonging to Mr Ekeoma), Ibeyanma72@yahoo.co.uk. (belong to Mrs Ngozi Ekeoma) and U go.na@gmail.com (belonging to Mr Ugochukwu Onwuegbuna).

“The emails were sent as a result of transactions in an account, Dexter Oil Limited, which was opened by Mr Emeka in Liberia and the account was opened with the same name.

“After it was opened, I wasn’t the direct account officer but an officer was assigned. Though I had an overview of the transactions.

The account received both inflows and outflows. Mr Emeka was the sole signatory of the account and instructions would normally come from him to run the account.

“I was asked to copy Mr Ugochukwu, who is also a Director in Dexter just as Ekwunife, and then copy both Mr and Mrs Ekeoma in each mail”.

When asked how he knew Mrs Ekeoma, he replied, ” I’ve known her for many years – long before I met Ekwunife. I’ve never had any business transactions with Ngozi before I met Ekwunife. But Mrs Ngozi Ekeoma has a relationship with the defendant, Ekwunife “.

When asked why he copied Mrs Ekeoma if there was no business relationship, the Consultant replied, “I was asked to copy these people and I literarily don’t know all of them”.

The matter was adjourned till September 30 for continuation of defence.

Interview

NAUB: MR PRESIDENT, WHO ARE THOSE PLANNING TO KILL THE ONLY FEDERAL UNIVERSITY THAT DOES NOT GO ON STRIKE?

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By femi Oyewale

 

 

Higher education in Nigeria, quite frankly, is facing immense challenges including but not limited to poor infrastructure, unrealistic academic calendars resulting in extra years against stipulated durations, lack of teaching equipment, social menace, poor funding, amongst others.

 

 

 

Interestingly, Nigerian Army University, Biu (NAUB) is quite unique from other federal universities in the sense that since inception, there has not been any issue of strike, cultism, protest, or anti-social conduct.

Rather, the university is reputed for its excellent condition of learning environment.

 

This was aptly covered by the Governor of Borno State, H.E Professor Babagana Umara Zulum through his deputy during the maiden edition of the convocation ceremony of NAUB on Saturday, October 28th, 2023 at the University’s main campus ( note not temporary campus within five years of existence) in Biu, Borno State.

 

 

 

The Borno State governor said he was physically present at the groundbreaking ceremony of the foundation laying stone of NAUB five years ago, and he is impressed by what he has seen adding that it must take military precision and focus to put in a full-fledged and functional university on a barren land in such a short period.

 

 

 

 

 

 

 

The Governor further thanked the Federal Government, the Nigerian Army, the traditional rulers, scholars and academics philanthropist, industrialists, associates and men and women of goodwill from within and outside Borno State for the selfless service of gradually re-modelling the future of Borno State in particular and Nigeria in general and for putting Borno State on the path of further greatness through the Nigerian Army university, Biu.

 

Why then do we plan to abort such a great independent institution of learning known as a barrier breaker and line crosser by merging it with NDA whose missions and visions are not in tandem with each other

Why cut short the dreams of such noble ideas via politics?

 

Are there those who do not want a stable educational system in Nigeria?

Are there external forces or their agents at home trying to destroy a good foundation for a stable educational system in Nigeria?

Is NAUB in competition with the private universities?

Are there big shots who benefit from a chaotic educational system in Nigeria?

 

Are there some subterranean forces working within the system to achieve the Boko Haram objective that “education is sin”?

 

 

 

The words of Governor Zulum rings a wise bell when he said that Boko Haram insurgents have achieved their objectives if the university is scrapped.

 

 

 

 

 

“Therefore, we appeal to Mr. President to look into this issue so that the Army University Biu would remain a university… because of the importance of education in this part of the country, where Boko Haram is saying that education is forbidden. And I think that by allowing this Army university to be scrapped, they might have achieved one or two of their objectives,” he said.

 

The governor noted that, for over a decade, Borno State has been facing a serious crisis that has denied many children access to education.

 

“Therefore, this university is very important to not only the people of Borno State but our neighbouring states,” he said.

 

 

 

Look at the Western countries that started with military polytechnics that propelled revolution in military equipment development.

 

Many of these developed countries collaborated jointly through civil-military research.

 

 

 

 

 

 

 

 

 

The Swedish Defence University established like NAUB is Sweden’s leading resource in, and first choice for, education, training and research in the management of crisis, war and periods of tension in the leadership of both civil and military agencies. The Swedish Defence University is an accredited institution for academic education for military and civilian students and researchers where different experiences, approaches, and traditions come together. It has become a hub for both national and international students.

 

 

 

 

 

It might shock you to know that American Military University (AMU) and American Public University (APU). APUS is wholly owned by American Public Education, Inc., a publicly traded private-sector corporation that offers associates, bachelors, masters, and doctoral degrees, in addition to dual degrees, certificate programs and learning tracks.

 

 

 

 

 

 

 

During my NYSC, I served in the Nigerian Army School of Education (NASE), Ilorin, which is a renowned military institution focused on providing high-quality education and training for Nigerian Army personnel and civilians. So why the proposed merger of NAUB?

 

 

 

 

 

 

 

 

 

 

 

Interestingly, the Nigerian Army University Biu provides such a platform for the Nigerian military towards technological innovation, research, and development in varied fields for national defence and security breakthroughs like many modern nations. In fact, instead of downgrading the Nigerian Army University, many more Army universities should be established in Nigeria. That is the way out for a caricature type of educational system that has failed to have stability over the years.

 

 

 

 

 

 

 

Who is not interested in seeing that a federal university graduates its students within the regular course time frame?

 

 

 

 

 

 

 

 

 

Must programmes of all federal universities be easily disrupted. A course of 4 or 5 years ends up taking over 6 to 7 years to complete. The worst part is that many universities end up in a crash programme to be able to cover up for the lost times. The terrible damage to these universities’ products is the very low standard of graduates.

 

Who wants the Nigerian educational system to collapse completely? These are rhetorical questions the amiable president of the Federal Republic of Nigeria and all stakeholders should ask those proposing the merger to answer us publicly, else should let the matter die forever in the abyss of hasty decision.

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Interview

Tunji Ojo Has No Case To Answer” – Shehu Sanni 

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Former Kaduna Central Senator, Shehu Sani, says Minister of Interior, Olubunmi Tunji-Ojo, has no case to answer regarding the contract awarded to a company linked to him by suspended Minister of Humanitarian Affairs, Betta Edu.

Sani, in a chat with The Whistler, said Tunji-Ojo did not violate any public service law since he resigned from the company years ago.

 

” It could have been a conflict of interest if he hadn’t resigned.

The senator further said it is “not his ministry (that awarded contracts), and companies have the right to pursue businesses anywhere.

“Edu’s case is very clear and can’t be equated with that of a company associated with Hon Ojo.

“Legally, he can’t be held to account on this matter.

“Let’s not be distracted,” Sani said.

“The extant provision of the law under the 1999 Constitution is that anybody who is a public servant cannot engage in any business other than farming,” said Nelson Kebordih, a senior lawyer whose interest is in public policy.

He said the implication of the law is “that a person must be in active control and directorship of the company in the management of any enterprise.

“You are permitted to own shares because owning a share does not put you in the day-to-day management of the company or any enterprise.

“If he (Tunji-Ojo) has resigned from being a director, the law does not stop him from owning shares in the company,” he stated.

The former lawmaker’s position aligns with the 2008 Federal Service Rules on Chapter 4 which states that “Public officers are not prohibited from holding shares in both public and private companies operating in Nigeria or abroad except that they must not be Directors in private companies, and may only be Directors in public companies if nominated by Government.”

 

Following the suspension and quizzing of Edu, concerning alleged financial sleaze, the Minister of Interior has come under pressure to resign or equally be suspended by the president after it emerged that his company, New Planet Project Ltd, also received a contract from Edu.

Edu had awarded some companies contracts, some of which were unregistered with the Corporate Affairs Commission (CAC) raising concern of fraud and illegality.

Tunji-Ojo is also being pressured to step down with many commentators saying he has flouted the Public Service Rules which barred public servants from being awarded contracts or contracting any business except farming.

But the Minister while speaking on television explained that he had resigned since 2009 from the company.

“Almost five years ago, I resigned as director of the company, so I’m not a director. I resigned on 1st of February, 2009, you can take that to the bank,” the minister had said.

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Interview

‘The Coleman Wires and Cables Business Story is a Journey From Grass to Grace’

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On the sidelines of the 12th Practical Nigerian Content (PNC) organized by the Nigeria Content Development and Monitoring Board (NCDMB), Mr. George Onafowokan, the Managing Director/CEO of Coleman Technical Industries Limited, a leading Nigerian brand manufacturer of wires and cables, shared secrets to his business success amid recent national and global economic challenges. Onafowokan maintains that as a Nigerian, one can start a small business and grow organically into a big global competitor…..

 

What do you mean when you said Coleman Wires and Cable’s story is one of “grass to grace”?

 

Coleman Wires and Cable was registered as a company in 1975, but we began as a small-scale business in 1996. In 2021, we had to restructure our operations to overcome the setbacks we faced from the beginning, and that’s when I became the Managing Director.

Our story is one of grassroots to grace. Through investing time and effort over the years, we were able to systematically grow from a micro-small company into a small, medium, large, and extremely large company in terms of size. Our business vision started small, but we strategically expanded it. Please note, our aim was not to become the largest company, but it began with the goal of being the preferred wires and cable choice for Nigerians in terms of quality.

Subsequently. we found that every Nigerian preferred locally made cables over the foreign imported ones. So, the question of why we can’t build a company capable of servicing the entire nation and the global market arose; with this, our vision expanded. We progressed from a humble factory to a ripple plant that became the largest in West Africa at the time it was built. Starting out from 20,000 square meters, we expanded to 30,000 square meters and further into the Shagamu plant, which began with over 100,000 and has grown to over 350,000 square meters today.

We diversified into other products, such as high-voltage cables, and we became the first in the country and in West Africa. This achievement made Nigeria the fifth country in the world to produce such cables. Today, more than fifty percent of Coleman’s products are not produced by any other company in Nigeria, West Africa, and most parts of sub-Saharan Africa. This accomplishment is a testament to the story developed by a predominantly 99 percent Nigerian team. It illustrates that it is possible to be Nigerian and organically grow into a global competitor.

Could you provide some insight into your personal background for the readers?

Certainly! I am George Onafowokan, the second generation of the Onafowokan family, born into the distinguished lineage of Asiwaju Solomon Kayode Onafowokan. He is currently the second Asiwaju of Remo, succeeding Chief Obafemi Awolowo, and is well-regarded as a business mogul. Personally, I am a family man with a spouse and children.

I pursued my first degree in Accounting and Finance in the UK, followed by a postgraduate degree in Information and Management. With a penchant for improving processes and a dedication to giving back, I often find myself engrossed in thoughts on how to enhance various aspects of life.

Having witnessed the success of companies I’ve mentored in Nigeria, I am committed to building the capacity of individuals and small to medium-scale businesses. My guiding principle, which I consider my calling, is to contribute to the growth and improvement of others over time.

Reflecting on my upbringing, my father’s journey serves as a true “grass to grace” story. From humble beginnings in a one-bedroom apartment, he worked his way up to become well-educated and stand out among his peers. However, my perspective evolved when, at the age of twelve, my aunt imparted valuable advice. She encouraged me to cease complaining and adopt the mindset that my parents served as vessels for me to enter the world. Once in the world, their responsibility concluded. Embracing this philosophy, I no longer felt entitled to my parents’ resources and committed to earning everything I needed. This mentality shaped my life principle—I don’t expect anyone to owe me anything. Consequently, I work diligently, understanding that neither a “yes” nor a “no” signifies offense or entitlement.

 

Was Coleman Wires and Cables your first business?

No, Coleman was not my first business; it is a family business. I started my own business when I was young. At the age of sixteen, I ventured into my first wine business. By the time I completed university, I had my own business in the UK, specializing in financing and exporting to Nigeria using containers. My initial entry into the cable business involved supplying raw materials, and coincidentally, one of my main clients was Coleman.

You spoke about replicating yourself; how can one access mentorship opportunities from you?

 

I am one of those who don’t believe that you can run a business as a one-man show. Therefore, you have to build human capacity in every way, integrate it into your structure, empower the people around you, and let them handle their responsibilities. Personally, I have built a team around what I do. I started in a business where I handled every department myself, but today, I am not involved in those tasks anymore.

Most importantly, I empower them to effectively perform their jobs and give them a sense of belonging, so they feel that their contributions have value.

In many companies in Nigeria, you often find that the Managing Director or CEOs are the only individuals making decisions, while the rest are mere yes-ma or yes-sir. I wouldn’t run a business that way.

Are there mentorship opportunities for people outside your current team?

No, we have not fully structured it for everyone; we currently have a limited number, mostly for individuals already in the industry. However, from my work with the LCCI mentoring group and my team, I have found that what most people generally need is a simple understanding and mentoring to discover what aspects of their life or history they could improve upon or learn from.

What has Coleman been doing with the NCDMB?

For us, we are a success story of the Nigeria Content Development and Monitoring Board (NCDMB) because we have been working with the board since 2017. Prior to that, in 2008, I met with Senator Lee Maeba, who led the private bill for the local content law before it became an act in 2010. I could see the passion in the man when he talked about the whole idea, and from that passion, we took action. “Taking action” means we started putting our money where our mouth is, began examining areas in the law that affect business and expanding capacity, and we have succeeded in doing so. Over the years, it has been challenging to break into these oil and gas companies, but we have managed to do so. We primarily supply cables to their vendors, without handling any installation. We supply for NLNG projects, Shell, and Mobile. We have been able to provide cables that have never been produced by any other company in Nigeria.

 

In the face of business and economic setbacks, Coleman expanded. What did you do differently?

First, I think we took a strategic position to ensure our ability to continue operations. Second, we minimized our losses and restructured our capacity. One month before the Covid-19 shutdown, we had submitted a request for restructuring with our banks. We had slowed down, scrutinized all our positions, and had already started reducing the size of our business. By the time we entered the Covid-19 pandemic, we operated with the same number of staff for about a year. After Covid-19 started easing, we increased the number of staff. Therefore, we were somewhat prepared for Covid-19, and over the years in our business, we had already trained specific capacity. During Covid-19, we were able to build two factories without anyone coming from abroad. Covid-19 has, in a way, compelled everyone to enhance their in-country capacity.

In your panel discussion, you mentioned that the NCDMB should replicate the success in the petroleum industry in manufacturing. So, in concrete terms, what are you looking for to happen?

 

Replicating success in manufacturing means being intentional with manufacturers, ensuring that they perform well because there are not a lot of manufacturers. We need to be more deliberate, encourage more factories, open more businesses here, and manufacture goods instead of just assembling them. That is the focus I am emphasizing. There should be a deliberate action to build local capacity.

 

What is the future for Coleman?

 

The future for Coleman is still very bright. The opportunities have not stopped. We have two or three projects that are still ongoing, which will be finished by the first quarter of next year. The copper and aluminum factories are underway, the fiber-2 project, the expansion and completion of the Shagamu project, and our power project to increase our capacity from 16 to 24 megawatts. We are also looking to supply around West and Central Africa going forward in the next year, and later on, in East Africa. Our export plan is quite extensive, and we hope to see significant figures coming out of it, apart from Nigeria.

I believe we need to trust in the opportunities that abound in Nigeria, and in time, we are all going to reap the benefits. Regardless of the situation, Nigeria still finds its way to continue growing; and if given peace and the chance by the government, we would most likely see an upward swing in businesses by 2025.

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