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WEMA BANK, DANA AIRLINE IN ALLEGED MONEY LAUNDERING SCANDAL

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One of the nation’s topflight banking institutions, Wema Bank and Dana Air, owners of Sri Sai Vandana Foundation, a Non-Governmental Organisation (NGO) have been fingered in a money laundering crime and may be prosecuted by the anti-graft agency. According to a source, the airline’s inflight donation collected between 2014 and 2018 without following due process is the bane of contention. “The EFCC will take it up. We will investigate and prosecute the crime element once prima facie is established,” the acting spokesperson of the Economic and Financial Crimes Commission (EFCC), Tony Orilade said.

Dana started Nigeria’s Sri Sai Vandana Foundation in 1995 and commenced the inflight donation in partnership with the Sickle Cell Foundation of Nigeria. But after the airline suffered a major crash in Lagos in 2012 in which 153 persons died, it ceased the collaboration, ‘re-strategised’, and solely ran the inflight donations. Reports also reveal how Dana through Sri Sai Vandana Foundation, got the inflight donations between January 2014 and October 2018, raking in millions of naira deposited into the Wema Bank account number 0121291839 without due registration with the Corporate Affairs Commission (CAC), a prerequisite for complying with the Special Control Unit against Money Laundering (SCUML) regulations.

The EFCC official stated that the company will be sanctioned and that when there is a vacuum that is when we will lift the veil. He further explained that by ‘lifting the veil’ he simply means “The company cannot run without humans. So, it is when everyone denies being members of the company that we go after the individuals.” In line with the Money Laundering Prohibition Act, it is mandatory every Designated Non – Financial Institution, DNFI, to register with SCUML in order to legally operate in Nigeria. Contravening the SCUML guidelines have some specific penalties, including “suspension or revocation of license, fines or imprisonment or both,” according to Sections 15 to 17 of the Money Laundering (Prohibition) Act 2011 (as amended).

It stipulates a maximum of 14 years jail term for an individual but, in the case of a corporate organisation, the law says such organisation would pay “a fine of not less than 100 percent of the funds and properties acquired as a result of the offense committed” and would also have its license withdrawn. Precisely, the law defines the unlawful act listed in subsection (2) of the Act to include “corruption, bribery, fraud, counterfeiting, and piracy of products…or any other criminal act specified in this Act or any other law in Nigeria.” As such, Wema Bank officials involved in Dana’s account opening process may as well be prosecuted by the anti-graft agency, as soon as SCUML forwards its findings to the EFCC.

Source: ICIR

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Billionaire Businessman, Tunde Ayeni’s Talk of the town Daughters Wedding

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Barr. John Olatunde Ayeni C.O.N is indeed a man of high repute with a highly cerebral nature blessed with suave, elegance and finesse. As a young man, he has carved a niche for himself as a seasoned investor and a finance person with a background in the legal profession after bagging a law degree at Ahmadu Bello University, Zaria before he was called to bar. Everything he touches turns into gold. He is a man who knows the true spirit of friendship and brotherhood which has elevated him to the position he holds today. The erstwhile Chairman of Skye Bank has created his name in gold as one of the best brains to have come out of Nigeria as he sits atop several high business conglomerates.

 

One thing has remained constant for him he is a man who loves his family and will never trade anything for his family. More reason he spared no cost to ensure his daughter Abolaji Ayeni gets one of the biggest wedding Soiree with her hubby Oluwatobiloba Adeoye that will never be forgotten in a hurry. It was a rollercoaster of events that remained colourful and also further cents Ayeni’s position as a crowd puller as all his friends turned up for him to celebrate him and his family in one of their proud moments as a father.

 

Last year 2nd of December, the Groom’s family was hosted by Ayeni at an introduction ceremony at his Lagos residence and from that moment he has told his friends that; the wedding shindig would be one to remember as he is putting lots of resources into making the day a memorable one and also appreciate his daughter for making him and his wife proud parents.

 

On Thursday the 11th of April, Ayeni and his family hosted a traditional engagement wedding in Lagos Ikoyi where it was a parade of cultural aesthetics from the best Aso-Ebi to the best of Agbada and music as Yinka Aiyefele serenade the audience with his musical rendition there was an array of cuisines that guests savoured their taste buds with and lots of high-cost drinks.

On Saturday the 13th of April, Ayeni also pulled his heavyweight as the Church wedding where the couples were tied together by Pastopr Tunde Bakare’s Latter Rain Church in Oregun before the train moved to the reception at the Balmoral Hall of the Federal Palace Hotel, Victoria Island where guests were treated like a king, the whole V.I corridor was locked down as automobiles of different kinds took over the roads.

 

It was an absolute display of wealth, opulence and splendour as the who is who in Nigeria’s business, political and socialite space were in attendance. The roll call was quite an elitist one as it was like a gathering of stars with deep pockets. The father of the bride adorned in his full Agbada was seen smiling cheerfully welcoming his guests and also making sure those who attended were given the best of treats. The food was local and continental and the wines served were vintage wines. It was like a carnival as Evangelist Dunni Olarewaju (Opelope Annionting)coroner was on the bandstand while King Wasiu Ayinde Marshall the Fuji maestro also serenaded the audience.

 

Those who attended confessed that Ayeni is not only a master planer in the boardroom he is also a master planner of soirees and a good host with a high sense of hospitality. Those spotted were; the Governor of Ogun State, Prince Dapo Abiodun, Kogi State Secretary to the State Government; Mrs Ayoade Folashade, Former Governor of Ogun State Senator Ibikunle Amosun, Chairman Federal Inland Revenue Service; Dr Zacch Adedeji Former Governor of Delta State, Chief James Ibori, Former Governor of Ekiti State, Mr Niyi Adebayo, Hajia Bola Shagaya, Olugbon of Ilegbon Oba Francis Alao, Olofin of Isheri Oba Sulayman Bamgbade, Elegushi of Ikate Land Oba Saheed Elegushi, Akinshiku Dosumu Oba Otudeko, Iyaloja of Lagos Folashade Tinubu-Ojo, Mogaji Wole Arisekola, Former Fidelity Bank MD Mr Nnamdi Okonkwo, Daily Times Publisher Mr Fidelis Anosike and wife Rita Dominic-Anosike, Nkiru Anumudu, Segun Awolowo, Terry Waya, Comfort Obamuyiwa, Aisha Achimogu, Abu Abel, Abisagboola ‘Bankuli’ Oluseun and a host of others.

By: Oladapo Shofowora.

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Just In: Cubana Chief Priest Arrives Court For Arraignment Over Naira Abuse Charge

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Lagos socialite, Pascal Chibuike Okechukwu, also known as Cubana Chief Priest, has arrived at the Ikoyi High Court for arraignment on charges of Naira abuse.

Recall that Economic and Financial Crimes Commission (EFCC), yesterday, announced that Cubana Chief Priest would be charged today for alleged naira abuse.

The commission filed the charge against him at the Federal High Court in Ikoyi.

Cubana Chief Priest will be arraigned before Justice Kehinde Ogundare at 9am.

EFCC last week said many celebrities are being probed for their illegal use of the nation’s currency. This was after cross-dresser, Idris Okunneye, popularly known as Bobrisky, was convicted Friday following EFCC’s prosecution of him for naira abuse. He was jailed for six months.

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Kano Ward Executive Council Suspends APC Chairman Abdullahi Ganduje Over Corruption Allegations..

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Says He Must Clear His Name Of Corruption Allegations

Abdullahi Ganduje, the National Chairman of the All Progressives Congress (APC), has been suspended by members of his ward, the Ganduje Ward in the Dawakin Tofa Local Government Area of Kano State.

The Executive Council of Ganduje Ward led by Haruna Gwanjo made this known during a press briefing in Kano on Monday.

Gwanjo said that the former governor has to clear his name of corruption allegations regarding his long-standing dollar case.

The Kano High Court would arraign Ganduje on Wednesday, April 17, 2024 on charges bordering on allegations of bribery, diversion, and misappropriation of funds, including the purported acceptance of $413,000 and N1.38bn in bribes.

The Kano State Attorney General and Commissioner of Justice, Haruna Dederi, had said Ganduje would be arraigned alongside his wife and six others.

The Kano State Government led by Governor Abba Yusuf, which initiated the criminal suit against the eight respondents, had declared its readiness to present 15 witnesses to testify before Justice Usman Na’aba of State High Court.

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