Monday 4 February 2019

Bank MD convicted for $166.9m fraud


Justice Mojisola Olatoregun of a Federal High Court, Lagos on Monday convicted a Managing Director of the defunct Integrated Microfinance Bank Ltd., Simon Akinteye, for fraud totalling 166.9 million U.S. dollars.
Olatoregun found Akinteye guilty of all the nine counts of the charge bordering on reckless granting of loans.
The charge was preferred by the Federal Government.
The court, however, discharged Akinteye’s co-defendant, Gabriel Adepoju, who was charged on one count of unlawful diversion of N22.3 million to a printing company.
Olatoregun adjourned sentencing of Akinteye until Feb. 21.
In the charge marked FHC/L/234c/16, the prosecution said that the convict recklessly and without collateral approved credit facilities amounting to 166 million dollars and N33.3 million to themselves and one Temitope Imam.
Akinteye was said to have, at different times, withdrawn N11 million from the bank’s account and diverted it to his personal company named ‘Deblad Nigeria Ltd. ‘
He was also said to have unlawfully withdrawn 166 million dollars and paid same into the account of Temitope Imam domiciled with Citi Bank N. A. of Utica/Clarkson, 702, Utica Avenue, Brooklyn, New York, U.S.
The second defendant, Adepoju, was alleged to have withdrawn and diverted N22.3 million to a limited liability company, Gad Press Ltd.
The offences, according to the prosecution, contravene the Sections 15 (1)(a), 18() and 18(3)a)(I) of the Banks and Other Financial Institution Act, 2004.
The duo had pleaded not guilty on arraignment.
- PM NEWS

ASUU strike: Lecturers give latest update, speak on disenfranchising students


The Academic Staff Union of Universities, ASUU, has disclosed its latest efforts amid the ongoing strike by members.

ASUU pointed out that it was consulting with its zonal chapters amid the lingering industrial action.
In a series of tweets yesterday, the body also hinted that a large number of students may be disenfranchised during the elections due to its ongoing strike.
ASUU wrote: “The @ASUUNGR is aware of the massive number of students that may be disenfranchised by the ongoing industrial action of the union.
“We are putting into consideration this issue while consulting with our zonal chapters.
“However, as students what efforts are you putting to ensure that there are no voters’ apathy that will result in the loss of 22 million votes from this viable segment of our society?”
- DAILY POST

Sergio Ramos speaks on replacing Ronaldo as Real Madrid’s penalty taker


Real Madrid captain, Sergio Ramos, has expressed his delight at replacing Cristiano Ronaldo as the team’s penalty taker.

Ramos took over spot-kick duties for Madrid, after Ronaldo left the LaLiga giants for Juventus last summer.
The defender has already scored 10 goals this season, his equal most in a campaign.
“I’ve taken on the role after Cristiano’s departure and I’m delighted to do so.
“It [the ‘Panenka’] is a way to take them, but I never want to offend a colleague,” Ramos told Antena 3.
Madrid are preparing for a big few weeks, including a Copa del Rey semi-final and LaLiga clash against Barcelona and Atletico Madrid.
- DAILY POST

Jeff Bezos: World’s richest man who has reaped most from Trump

Two years into Donald Trump’s presidency, the man who has profited most from the era is his foremost nemesis in the business world, Amazon.com Inc. founder Jeff Bezos.
Trump has repeatedly vilified Bezos, threatening his company with tax increases, antitrust prosecution and higher shipping fees, attacking the Bezos-owned Washington Post as a “scam” and even mocking the billionaire for his pending divorce. No figure in corporate America is attacked more often in Trump’s Twitter posts.
Yet no one has made more money than Bezos since Trump’s election. The president’s social-media huffing and puffing hasn’t hurt a solidly constructed business riding the rise of electronic commerce, web advertising and cloud computing.
Since the election, Bezos has become the world’s richest person, his net worth swelling by $66.2 billion through Friday, surpassing the gains of the world’s second-fastest riser during that period, French luxury-goods tycoon Bernard Arnault, by 50 percent. Bezos’s wealth was valued at $134.8 billion, making his fortune a third bigger than Bill Gates’s, according to the Bloomberg Billionaires Index.
Amazon chief’s net worth up more than $66 billion since presidential election
Within the U.S., the closest anyone has come to the Amazon chief’s Trump era gains is investor Warren Buffett –- who added $19.5 billion over the same period. Bezos’s and Amazon’s success has made the tycoon and his company a fixture of American society. During Sunday’s Super Bowl, Bezos sat with NFL Commissioner Roger Goodell while Amazon aired ads for its Alexa service starring Harrison Ford. A Washington Post ad narrated by Tom Hanks celebrated American journalism with the pointed line, “Knowing keeps us free.”
The president’s son, Donald Trump Jr., mocked the Post ad on Twitter.
Donald Trump Jr.
✔
@DonaldJTrumpJr
You know how MSM journalists could avoid having to spend millions on a #superbowl comercial to gain some undeserved credibility?
How about report the news and not their leftist BS for a change.
Bezos’s wealth has surged since the president took office, with his net worth growing $63.9 billion since Trump’s inauguration. For context, just five other men on the planet –- Gates, Buffett, Arnault, Facebook’s Mark Zuckerberg and Spanish clothing retailer Amancio Ortega –- are worth more than $63 billion.
The enormous gains have been driven almost exclusively by Bezos’s holdings in Amazon. Even with the company’s stock dropping after lower-than-expected growth guidance, shares in Amazon rose 107 percent since Election Day as of the close of markets on Friday.
In morning trading in New York on Monday, Amazon was up less than 1 percent as of 10:32 a.m.
Even as Amazon’s low-margin electronic commerce business has matured, the company added fast growing lines that are more profitable. The company dominates cloud computing, benefiting from a rapid transition among businesses toward renting computing power and data storage space rather than maintaining their own facilities. Digital advertising recently emerged as a new profit center as the tech giant leverages its deep data on consumer purchase behavior and position as the web’s most prominent marketplace.
Trump’s threats have so far been idle. The federal government hasn’t launched any antitrust prosecution against Amazon.
The president’s agitation for the U.S. Postal Service to charge more for package delivery -– based on his belief Amazon has a sweetheart deal costing the government money -– led only to a Treasury Department report proposing the post office increase rates. The report didn’t provide explicit instructions on how much more the Postal Service –- which maintains it doesn’t lose money on Amazon deliveries –- should charge.
In the meantime, Amazon is expanding its own delivery infrastructure, reducing its reliance on any provider.
If anything, Amazon may be benefiting from Trump’s administration. The company is pitching its facial recognition software as a tool for the Immigration and Customs Enforcement agency, positioning itself to reap profits from the president’s crackdown on illegal immigration.
The Trump Department of Defense’s decision to give a $10 billion cloud computing to a single contractor is widely believed to advantage Amazon Web Services when the award is made later this year. Bezos’s competitors – including Oracle Corp – have bitterly protested the Pentagon’s approach as unfair.
The Washington Post’s investigations of Trump and his administration have captured wide attention for Bezos’s newspaper. Though the closely held company doesn’t disclose financial results, publisher Fred Ryan said in early 2018 the paper had turned a profit for a second straight year.
In recent weeks, Trump has seized on more personal criticism of the Amazon founder. During the government shutdown in early January, Trump seemed to revel in news that Bezos was divorcing his wife, MacKenzie, after 25 years of marriage.
“It’s going to be a beauty,” Trump –- himself familiar with messy divorce settlements — said of the news.
One consolation for Bezos: Even if his wife is awarded half of their assets –- a possibility under Washington state law, which provides for property acquired during marriage to be equally divided in a divorce — the Amazon chief will still be almost as rich as he was the day Trump was elected.

*This article by Justin Sink was first published by Bloomberg.com

Islamic Cleric, 3 others arrested with human skull in Ogun

The Police in Ogun, Southwest Nigeria have arrested an Islamic cleric, Jamiu Olasheu and three others for allegedly being in possession of human skull.
The cleric was said to have purchased the human skull for the sum of N250, 000.
The 35-year old man, who was later identified as fake Islamic cleric, had allegedly commissioned the duo of 45 years old Teslim Ayeniromo and Sunday Kolade (35) to get the human skull for him from a 51-year old Micheal Osanyinbi who lived in Agbara axis of Ado-Odo/Ota local government area of the state.
Police Public Relations Officer (PPRO), Ogun State, Abimbola Oyeyemi, who confirmed the story to newsmen in Abeokuta, said the Police Patrol team from Agbara Division who were on routine crime prevention patrol of the area however, accosted the two men at Kofedoti area of Agbara with the human skull kept in a sack while on a motorcycle for onward delivery to the Cleric man.
“The duo were promptly arrested and taken to Agbara Divisional headquarters where the DPO, CSP Adegbite Omotayo personally interrogated them.
“On interrogation, they claimed that the human skull was given to them by one Michael Osanyinbi (51years) for onward delivery to the Islamic cleric.
“They led the DPO to the house of the man who gave them the skull who in turn led the police to the self -acclaimed cleric.
“The cleric has made confessional statement that he actually requested for the skull which Michael Osanyinbi promised to get for him at the rate of N25, 000 and N1, 000 for the bike man who will deliver it to him.
“He stated further that the skull is needed for a yet to disclose ritual.”
Oyeyemi further stated that the state’s Commissioner of Police, Ahmed Iliaysu has ordered the immediate transfer of the suspect to Special Anti -Robbery Squad for further investigation and prosecution.
- PM NEWS

Cancer claims 41,000 lives in Nigeria in 2018 – WHO

The World Health Organisation (WHO) announced on Monday that 41,000 people lost their lives to cancer out of 166, 000 cases recorded in Nigeria last year.
The WHO Nigeria Health Emergency Team Lead, Dr Clement Peter, made the announcement while addressing newsmen as part of activities to commemorate the World Cancer Day at the WHO Headquarters in Abuja.
Peter said that Nigeria might continue to experience a rise in the scourge if stringent measures were not taken by individuals, communities and the Federal Government towards addressing the key drivers of the disease.
He listed some of the key drivers as tobacco use, alcohol consumption, sedentary lifestyle and unhealthy diets.
The WHO chief said that the disease could be prevented and the burden reduced, if individuals, families and communities were willing and ready to make the necessary changes to their ways of life.
Peter urged individuals, families and communities to therefore, engage in and adopt healthy lifestyle habits such as eating proper and healthy diets, engaging in appropriate exercises and ensuring routine medical check at all times.
He also urged the populace to ensure proper vaccination against cancer.
“In 2018, we recorded an estimated 166,000 cases of cancer burden in Nigeria and 41,000 deaths.
“The most prevalent types of cancer in the country are breast cancer, cervical cancer and prostate cancer.
“This disease is preventable if we as individuals, families and communities make the conscious decision to make healthy lifestyle choices.
“The driving forces of cancer are tobacco use, alcohol consumption, unhealthy eating habit and a lack of exercise.
“Alcohol consumption should be reduced. Most of us are busy therefore, we tend to eat fast foods, gain weight and fail to exercise, thereby increasing our chances of developing the disease.
“If we are able to address these issues in our own individual way, the burden of cancer is going to be reduced because the cost of diagnosis and treatment is expensive.
“The Federal Government is doing a lot to introduce and ensure enforcement of policies that will help address disease burden of non-communicable diseases, which cancer is one of.
“We need to support government’s efforts by making better and healthy choices in terms of our diet and exercise.
“The government cannot do it alone. It is the effort we make individually, as families and communities that will help make the change we desire to see.”
He quoted the WHO Regional Director for Africa, Dr Matshidiso Moeti, in her message to commemorate the World Cancer Day as saying: “A Future without Cancer is within our Individual and Collective Grasp.”

Moeti said that globally, 14 million new cases and 8.2 million deaths were recorded in 2012 while in 2018, 18.1 million new cases and 9.6
 million deaths were recorded.
The Regional Director said that if this trend was maintained, the cancer burden in Africa was projected to double from 1,055,172 new cases in 2018 to 2,123,245 cancer cases by 2040.
She said that among the most important challenges facing cancer patients in most African countries were poverty, late and poor cancer diagnosis and a lack of medical cover.
Moeti reiterated the key drivers of the increasing cancer burden in Africa to include tobacco use, sedentary lifestyle, unhealthy diets, alcohol use and environmental pollution.
She said that among the factors responsible for the high cancer burden were the absence of widely available information on the early signs and symptoms of cancer, late diagnosis and misdiagnosis.
Moeti listed others to include absence/weak referral system, difficult access to care and treatment, catastrophic costs of treatment and medicines and weak health systems.
She said that only 30 per cent of low-income countries had cancer treatment services, adding that 90 per cent of high-income countries however, could offer the services.
“Significant progress has been achieved in diagnosis and treatment of cancers in high-income countries which has resulted in better prognosis and enhanced survival rates for cancers.
“Sadly, most cancer patients in Africa are diagnosed at a late stage and the prognosis for a positive outcome is lessened even in cases where treatment is available and affordable.”
The regional director charged stakeholders, specifically African governments to create an environment in which cancer risk factors were reduced with citizens maintaining good levels of physical activity and nutrition.
She urged stakeholders to also address current inadequate access to cancer diagnosis and therapies and intensify awareness on cancer from the grassroots to urban communities.
Moeti said that the theme for the 2019 World Cancer Day, “I am and I will” was chosen as a reminder of the important actions that individuals, groups, communities and political leaders could and need to take to reduce the impact of cancer in their lives.
- PM NEWS

Buhari: Agencies still diverting revenue — despite our anti-corruption drive

Buhari: Agencies still diverting revenue — despite our anti-corruption drive
President  Muhammadu Buhari says despite his administration’s fight against corruption, some government agencies still divert or refuse to fully account for revenues generated.
Buhari disclosed this during the swearing-in of board members of the Independent Corrupt Practices Commission (ICPC) at the state house, Abuja, on Monday.
He said the ordinary people in the country understand and support his administration’s fight against corruption, adding that those opposing the fight against corruption are only pretending not to know what it is.
He reminded the members that their appointment is a call to service and critical in his government’s agenda.
“The fight against corruption is very crucial in our national development.  This is why I have often said – if we do not kill corruption, corruption will kill Nigeria,” he said.
“Corruption has negatively affected our political, economic and social life.  Those opposed to our fight against corruption berate us for our focus, determination and single mindedness.  They pretend that they do not know what corruption is. But Nigerians know what corruption is.  Ordinary people know what corruption is and they support our effort and determination to fight it.
“The abuse of public office for private gain represents corruption in its worst form. The abuse of public office for personal benefit even if no bribery occurs is also corruption.  The diversion of state revenue or miss-application of budgeted funds falls into the same category.
“As I have noted in recent times, despite our anti-corruption drive, some agencies of government still divert or refuse to fully account for revenue generated.  Rather than obey constitutional provisions and extant rules and regulations, such agencies continue as if nothing has changed.”
The president expressed his determination to ensure that every agency of government accounts for public revenue generated or spent.
He also reiterated his commitment to fighting corruption in the nation.
“We are determined to ensure that every agency of government account for public revenue generated or expended.  I am looking forward to ICPC’s support both for enforcement of anti-corruption laws and submission of policy measures and directives to prevent revenue leakage and diversion.
“I am particularly delighted that the ICPC law under which you will operate is robust enough to assist government to sanitize the public sector of corruption in service delivery, public procurement, diversion of public revenue, deliberate misuse of public funds, and so on.
“As the old saying goes, ‘Prevention is better than cure’.  Your statutory mandate recognizes this principle.  Therefore, I encourage you to come up with strong preventive policy measures and strategies for government’s endorsement to take us to the NEXT LEVEL in the fight against corruption.
“My resolve to fight corruption remains unshaken.  I assure you of my full support in the fight against corruption in Nigeria.”
- THECABLE

Atiku only got ‘temporary waiver’ to enter US

Report: Atiku only got ‘temporary waiver’ to enter US
Lobbyists hired by Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), played a huge role in making him get a temporary waiver to visit the US after a ban which lasted over a decade.
In a report, Reuters quoted unnamed US government officials as saying the travel ban was waived temporarily by the US state department after lobbyists mounted a campaign among congressional lawmakers arguing that the administration should not snub the leading challenger to President Muhammadu Buhari in the February 16 election.
“One person familiar with the matter, speaking on condition of anonymity, said Atiku was allowed to enter because the United States saw little benefit to creating bad blood with the man who might be the next leader of Africa’s most populous nation and the continent’s biggest oil producer,” Reuters said in the report.
The agency said during his visit, Atiku met with top US diplomats and lawmakers to thank them for the temporary suspension of a travel ban linked to bribery scandals.
Atiku’s critics had said he went to the US as an aide of Senate President Bukola Saraki, who was among those with the presidential candidate during the trip, but the Reuters report has laid that aside.
The visit was seen by his supporters as a major landmark, especially as the All Progressives Congress (APC) had argued he would be arrested if he tried entering the country.
THE GENESIS
Atiku’s row with the US authorities began after the FBI investigated a bribery scandal involving William Jefferson, former US congressman, in 2004. He was accused of demanding a bribe of $500,000 to facilitate the award of contracts to two American telecommunication firms in Nigeria.
The FBI had searched his residence in the posh neighbourhood of Potomac, Maryland, but no money was found. The investigators had videotaped Jefferson, who was the congressman representing Louisiana, receiving $100,000 worth of $100 bills which he claimed was meant for Atiku, but the former vice-president has consistently denied the allegation.
In another case, US senate investigators had alleged in 2010 that one of Atiku’s wives allegedly helped him transfer more than $40 million in “suspect funds” into the United States from offshore shell companies. At least $1.7 million of that money was bribes paid by German technology company Siemens AG, according to the US senate investigators.
The company pleaded guilty to bribery charges in 2008 and agreed to pay a $1.6 billion fine. Neither Atiku nor his wife is however, facing criminal charges in the US.
THE ‘STRUGGLE’ TO OBTAIN US VISA
After leaving office in 2007, Atiku was unable to enter the US after his request for visa was refused.
Commenting on this in December 2017, he had said: “It is the sole prerogative of America to determine who they want in their country or not. I’m not running away from America. I applied, but wasn’t issued a visa.”
In November, TheCable had exclusively reported that Atiku’s party signed a deal with Brian Ballard, a top US lobbyist, to enhance US-Nigeria relations, with a focus to “maintaining political and security conditions free of intimidation and interference”.
TheCable also reported that he had been granted visa.
According to Reuters, Atiku engaged Holland & Knight, a lobbyist for the firm, “to help him secure a visa, in part by enlisting members of Congress to request one on his behalf.”
“Lobbyists hired by Atiku said they sought to overcome resistance at the State Department by securing support from members of Congress for the visit, as well as arguing that the top U.S. official for African affairs, Assistant Secretary Tibor Nagy, had an obligation to encourage democracy in the seventh most populous country in the world,” it reported.
A source at the US state department was also quoted as saying: “Assistant Secretary Nagy was pleased to meet with him and share the U.S. government’s expectations that Nigeria’s elections be free, fair, transparent, and peaceful, and reflect the will of the Nigerian people.”
The source added that the department had not requested the waiver.
TheCable had reported how Judd Legum, former research director of the Hillary Clinton presidential campaign, suggested the former vice-president paid as much as $540,000 to get his way into the US.
Former president Olusegun Obasanjo was said to have been very instrumental in the process which made the US grant Atiku the visa.
TheCable was unable to reach Paul Ibe, spokesman of Atiku, as of the time this report was filed.
- THECABLE

Emiliano Sala’s body found


Britain’s Air Accidents Investigation Branch, AAIB, said on Monday that they have concluded the search on the missing Premier League star, Emiliano Sala.

AAIB said they have found Sala’s body inside the wreckage of the plane on seabed near Guernsey.
DAILY POST had reported that the wreckage of the aircraft which disappeared over the English Channel in January, carrying the Cardiff City striker and his pilot was found on Sunday.

A privately-funded underwater search had begun on Sunday, several days after investigators said they found two seat cushions on the French coast that likely belonged to the aircraft.
According to EuroSport, Britain’s Air Accidents Investigation Branch said in a statement said: “Based on analysis of ROV (underwater remotely operated vehicle) video footage, the AAIB investigators on board the vessel concluded that the object is wreckage from the missing Piper Malibu aircraft,”.
“Tragically, in video footage from the ROV, one occupant is visible amidst the wreckage. The AAIB is now considering the next steps, in consultation with the families of the pilot and passenger, and the police.”

Meanwhile, Sala’s father, Horacio Sala, had earlier said he had remained in shock after the missing plane carrying his son was found.

- DAILY POST

Nnamdi Kanu vs Atiku: IPOB leader reveals how to prove ex-VP is from Cameroon



Leader of the Indigenous People of Biafra, IPOB, Nnamdi Kanu, on Monday revealed who can prove if Atiku Abubakar, the presidential candidate of the Peoples Democratic Party, PDP, is from Cameroon.

Recall that the IPOB leader had during a live broadcast over the weekend, alleged that Abubakar was a Cameroonian and not a Nigerian.

However, reports claimed that the camp of the former Vice President challenged Kanu to provide evidence that the Waziri Adamawa was from Cameroon.

Reacting, Kanu said those doubting his claim should ask the Lamido of Adamawa, Aliyu Mustapha Lamido.
In a tweet, Kanu wrote: “It was the Referendum of 1961 that made Atiku a Nigerian, before that he was a Cameroonian. If in doubt ask HRH Aliyu Mustapha Lamido of Adamawa.
“This has proved the greatest historical argument yet for the Biafra Referendum.
“Now I understand why they were denied history lessons in schools and universities. The caliphate wanted to make them even dumber. Common history of Adamawa they don’t know. Yet they claim they are educated. Damnable Zoological Republic. #SitAtHome on 16 February and be counted.”
- daily post 

2019 Presidency: SERAP reacts to Atiku’s plan to grant amnesty to looters

Socio-Economic Rights and Accountability Project, SERAP, has countered presidential candidate of the Peoples Democratic Party,PDP, Atiku Abubakar over plans to grant amnesty to corrupt Nigerians if elected president.
Atiku said he may consider granting looters amnesty provided they are willing to reinvest their loot in Nigeria, thereby creating jobs.
The former Vice president said this on Wednesday while answering questions on ‘The Candidates’, a presidential town hall co-production on the Nigerian Television Authority (NTA).
But, SERAP , reacting in a post on its official Twitter handle condemned Atiku’s plan to grant amnesty to looters.
According to SERAP, the corrupt must be held accountable and not escape justice.
The post read: “Dear Atiku, granting amnesty for corrupt persons will exacerbate impunity for corruption in Nigeria.
“SERAP Nigeria will challenge any such amnesty if it’s ever adopted as a policy, should you be elected into the office. The corrupt must be held to account, and not escape.”
- DAILY POST