Connect with us

News and Report

Saraki’s aide Accuses Prof. Sagay of Attempting To Influence CCT Judgement

Published

on

The Special Assistant on New Media to the Senate President, Mr. Bamikole Omishore, has accused the Chairman of the Presidential Advisory Committee Against Corruption (PACAC), Prof. Itse Sagay, of attempting to influence the judgment of the Code of Conduct Tribunal (CCT), to ensure the conviction of the Senate President, Dr. Bukola Saraki.

Omishore released an audio recording where Sagay allegedly admitted to “tackling” the judge over the delay in the prosecution of the case.

The recording, he said, was secretly taped two months ago.

The CCT last week dismissed charges of false declaration of assets brought against Saraki by the federal government, in a case that lasted almost two years.

The Chairman of the Tribunal, Justice Umar Danladi held that the prosecution had failed to establish a prima facie case against the defendant.

The case was largely considered to be political, as a fall out of Saraki’s emergence as Senate President against the wishes of the All Progressives Congress (APC) in June 2015.

However, Saraki’s acquittal was criticised by Sagay and another legal aide in the presidency, Mr. Okoi Obno-Obla, who said that the federal government would appeal the CCT ruling.

Reacting, Omishore yesterday took to his twitter handle, @MrBanksOmishore, to accuse Sagay of pushing for the removal of Saraki as Senate President.

He said: “Clearly, the CCT charges against @bukolasaraki were never about corruption of justice, was strictly to remove him as President of Senate.

“Prof. Sagay’s attempt to use illegal means to get a conviction is a major reason most cases can’t stand in court of law.

“The fight against corruption is being rubbished by Prof. Sagay. It’s illegal to try to get convictions by intimidating judges to do your bidding.

“The fight against corruption must be predicated on the rule of law, not sentiments, not media propaganda, double standard or guess work.

“The recording was secretly taped about two months ago outside of Nigeria. I am waiting for Sagay to deny and I will expose more.”

The transcript of the two minutes, 11 seconds audio recording where a man purported to be Sagay who appeared to be responding to an interview is reproduced below:

“We have actually tackled the judge about the delay, and he gave some reasons mainly that the lawyers prosecuting were not directing themselves at the actual charge, giving evidence which was not totally related, and to some extent one can accept that excuse, because new charges have been filed.

“I think if you ask me, that judge himself doesn’t seem to (INAUDIBLE)… When you allow cross-examination to go on for one month, there is no precedent for that in Nigeria.

“Usually you should start cross-examination (INAUDIBLE)… It has to do with that particular judge. He has lost control of his court.

“And you are right, by the end of four years, we might still be on that case and the man would have been the Senate President through out in spite of these charges, if we are not careful.”

Continue Reading
Advertisement

News and Report

Nigerian Bank MD’s colluded with government officials to re-loot recovered Abacha loot – EFCC

Published

on

By

The Economic and Financial Crimes Commission has accused commercial banks of colluding with government officials to re-loot recovered loot of the late dictator, Sani Abacha.

In December 2017, the Federal Government signed a Memorandum of Understanding with Switzerland on the return and monitoring of the $322 million Abacha loot.

The proceeds were intended for Conditional Cash Transfer under the Social Investment Programme which began in December 2016, under ex-president Muhammadu Buhari’s administration.

The looted funds were meant to provide N5,000 monthly stipends to the most vulnerable Nigerians across the country.

However, on Sunday, a spokesperson for the EFCC, Dele Oyewale, in a statement, said that the anti-graft agency opened investigations into other alleged financial malpractices from the ministry; involving the COVID-19 funds and the World Bank- assisted loan coordinated by the Humanitarian Ministry to assist poor Nigerians.

The EFCC said, “Discreet investigations by the EFCC have opened other fraudulent dealings involving COVID -19 funds, the World Bank loan, Abacha recovered loot released to the ministry by the Federal Government to execute its poverty alleviation mandate. Investigations have also linked several interdicted and suspended officials of the ministry to the alleged financial malfeasance.

“It is instructive to stress that the commission’s investigations are not about individuals. The EFCC is investigating a system and intricate web of fraudulent practices. Banks involved in the alleged fraud are being investigated. Managing directors of the indicted banks have made useful statements to investigators digging into the infractions. Those found wanting will be prosecuted accordingly. Additionally, the EFCC has not cleared anyone allegedly involved in the fraud. Investigations are ongoing and advancing steadily. The public is enjoined to ignore any claim to the contrary.’’

The commission also revealed that N32.7 billion and $445,000 had been recovered from both past and suspended officials of the humanitarian ministry.

It added that the commission initiated investigations into the affairs of the humanitarian ministry inviting former minister, Sadiya Umar-Farouq, and her successor, Beta Edu, suspended by President Bola Tinubu in January for alleged abuse of office.

 

Continue Reading

News and Report

EFCC recovers N32.7bn, $445,000, faults Betta Edu, Sadiya Umar-Farouq, Halima Shehu

Published

on

By

The Economic and Financial Crimes Commission, EFCC has faulted suspended Humanitarian Minister, Betta Edu, her predecessor, Sadiya Umar-Farouq, and the Coordinator of the National Social Insurance Programmes Agency, Halima Shehu, while revealing that a combined total of N32.7bn and $445,000 has been recovered so far from ministry.

The commission made the development known on Sunday via its official X handle in response to rumours concerning the progress of its investigations into the alleged financial misappropriation in the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

The statement signed by the spokesperson for the EFCC, Dele Oyewale, read, “The Economic and Financial Crimes Commission, EFCC, has noticed the rising tide of commentaries, opinions, assumptions and insinuations concerning its progressive investigations into the alleged financial misappropriation in the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

“At the outset of investigations, past and suspended officials of the Humanitarian Ministry were invited by the Commission and investigations into the alleged fraud involving them have yielded the recovery of N32.7billion and $445,000 so far.

“Discreet investigations by the EFCC have opened other fraudulent dealings involving Covid -19 funds, the World Bank loan, Abacha recovered loot released to the Ministry by the Federal Government to execute its poverty alleviation mandate. Investigations have also linked several interdicted and suspended officials of the Ministry to the alleged financial malfeasance.

“It is instructive to stress that the Commission’s investigations are not about individuals. The EFCC is investigating a system and intricate web of fraudulent practices. Banks involved in the alleged fraud are being investigated. Managing Directors of the indicted banks have made useful statements to investigators digging into the infractions. Those found wanting will be prosecuted accordingly.

Additionally, the EFCC has not cleared anyone allegedly involved in the fraud. Investigations are ongoing and advancing steadily. The public is enjoined to ignore any claim to the contrary.

“On the issue of the works of the Commission against Naira abuse, dollarization of the economy and the enforcement of all extant laws relating to them, the EFCC appreciates the avalanche of public awakening, support and involvement demonstrated so far. Increasingly, members of the public are drawing the attention of the Commission to video recording of abuse of the Naira by Nigerians from all walks of life. These gestures amply demonstrate rising consciousness of the public to the sanctity of our national currency and the need for collaborative engagement to sustain the tempo.

“To this end, the Commission will always investigate and prosecute anyone involved in the abuse of the Naira. Old videos being exhumed and flying around for the attention of the Commission are noted as the Commission is sensitive to the fact that its Special Task Force against Naira Abuse and Dollarization of the economy commenced operations on February 7, 2024. However, going forward, new videos of such infractions will be investigated and prosecuted.

At the moment, the Commission is investigating several celebrities involved in Naira abuse. Many of them have made useful statements to the Commission and many more have been invited by investigators working on the matter. The EFCC will not relent in its no-sacred-cow mode of operations and the public should be wary of running afoul of laws against the crime.”

 

Continue Reading

News and Report

CAC Places First Bank Records On Caveat Over Litigation

Published

on

By

The Corporate Affairs Commission, CAC, has placed the records of First Bank of Nigeria (FBN) Holdings on caveat pending the resolution of the crisis rocking…

The Corporate Affairs Commission, CAC, has placed the records of First Bank of Nigeria (FBN) Holdings on caveat pending the resolution of the crisis rocking the board of the bank as a result of multiple court cases filed by aggrieved directors.

The crisis rocking the bank stemmed from protests by shareholders who were kicking against the bank’s internal governance and shareholding structure, as a result of which some of them have taken their grievances to the court.

One of such is the case of Olusegun Samuel Onagoruwa v. FBN Holdings Plc in Suit No. FHC/L/CP/1271/2022), which is challenging the capacity of the Board of Directors of FBN to appoint new persons to fill vacant slots.

Onagoruwa in his suit is seeking “an order setting aside, nullifying, annulling and/or quashing the appointments and approvals of Mr. Olusola Adeeyo, Mr. Viswanathan Shankar, Mrs. Remilekun Adetola, Mr. Anil Dua and Mrs. Fatima Ibrahim as Non-Executive Directors of First Bank of Nigeria Limited made on the 20th day of March, 2024, by FBN Holdings PLC during the pendency of this action and in defiance of the subsisting order of this Honourable Court made on the 15th day of July, 2022.”

The motion also seeks an order restraining the above-named non-executive directors from acting or taking any steps as non-executive directors of the bank.

The current court case follows similar four other cases pending at the Federal High Court in Lagos and Abuja challenging the internal governance of FBN Limited, in addition to existing court injunctions restraining the bank from holding the last two Annual General Meetings which the bank went ahead to hold.

In a new twist to the crisis, the Corporate Affairs Commission in a letter entitled.

“Re: notification of pendency of suit no. fhc/l/cp/1575/23 against FBN holdings plc, and subsisting interim orders of the Federal High Court made on the 9th day of August 2023 restraining FBN holdings plc from holding or proceeding with its annual general meeting purportedly held on the 13th day of August 2023”, weighed in on litigations threatening to tear the old generation bank apart.

Signed on behalf of the Registrar General of CAC by Chidimma Maureen Nwite, the Commission in a letter to lawyers to some of the parties in court against FBN Holdings said: “This is to inform you that the record of FBN Holdings PLC RC: 916455 has been placed on caveat pending the determination of Suit No. FHC/L/CS/1575/2023.”

A shareholder, Mr. Olalekan Babalola, said “it is imperative for the authorities to find a solution to this lingering crisis as Nigeria cannot afford another major bank’s collapse at this critical time

He called for urgent resolution of all court cases in the overall interest of depositors, shareholders and other stakeholders of the bank before further damage is done to the oldest Nigerian bank.

 

Continue Reading

Trending