How billions of Naira loans were written off for Saraki’s company, others – Witness

A Federal High Court sitting in Lagos, Southwest Nigeria, has been told how billions of Naira loans taken by the Senate President, Bukola Saraki and others from the defunct Intercontinental Bank Plc, were written off by Dr. Erastus Akingbola’s successor, Lai Alabi.

The EFCC’s prosecution witness, Jimoh Abdulraheem, while being cross-examined by the defence lead counsel, Chief Wole Olanipekun at the resumed trial of Akingbola over alleged N179 billion fraud made the revelation.

Akingbola was re-arraigned last month at the Federal High Court following a further amendment to the charges, which the EFCC filed against him before the Lagos State High Court since 2009.

EFCC, in the amended charge, alleged that while Akingbola was the Managing Director and Chief Executive Officer of Intercontinental Bank Plc, he used N179,385,000,000 belonging to the bank for “fictitious transactions.”

It said Akingbola violated Section 15(1)(a)(i) of the Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act, Cap F2, Laws of the Federation of Nigeria, 2004 and was liable to be punished under Section 16(1)(a) of the same Act.

The anti-graft agency claimed that Akingbola used the N179 billion “to buy Intercontinental Bank Plc’s shares, thereby inflating the market price of Intercontinental Bank Plc’s shares on the Nigerian Stock Exchange.”

At today’s proceedings, while being cross-examined by Olanipekun, the witness, Jimoh admitted that a company linked to the Senate President, Dicetrade Nigeria Limited, was indebted to Intercontinental Bank Plc, in the sum of N1, 892, 313, 792.

Other companies said to be indebted to the defunct Intercontinental Bank Plc are, Joy Petroleum in the sum of N3. 932 billion; Linker, 617,693,988.99 and United Alliance Company of Nigeria Limited, in the sum of N14.5 billion, N14.27 billion and N10.97 billion respectively.

The EFCC’s witness who was the Chief Investigator of Intercontinental bank Plc, also admitted that another company linked to the Senate President’s father, Late Olusola Saraki, Skyview Properties, was indebted to the bank to the tune of N2.88 billion.

The witness, when asked by Olanipekun (SAN) if he was aware that Lai Alabi who took over from Akingbola, in order to write off all the indebtedness because people involved were closed to him, said he was only aware that Alabi granted waiver for some non-performing loans.

When probed further if the loans were collateralized and that if he was aware that Alabi was the former Managing Director of Saraki’s Songai Farms before being appointed as the Managing Director of Intercontinental Bank Plc, The witness said he was not aware.

The witness, when asked if the loan taken by Akingbola’s Tropic Securities and Tropic Properties, were queried by anyone in the bank before his investigation into the bank, said the loans were only queried after he submitted his report to Alabi.

The presiding Judge, Mojisola Olatoregun adjourned till tomorrow for continuation of trial.

- PM NEWS

SHITHOLE !! Nigeria’s embassy in Russia lacks functional toilet, says Shehu Sani

Shehu Sani, vice-chairman of the senate committee on foreign affairs, has accused the federal government of treating the embassies abroad with lack of seriousness.

Sani said this when the ministry of foreign affairs appeared before the committee to defend its budget.

He said many of the nation’s embassies abroad were in a sorry state, lamenting over how the poor condition of the toilet in Nigerian mission in Moscow, Russia.

“No responsible nation that has clear cut development- driven and visionary foreign policy will deliberately under-fund her foreign missions,” the senator said.

“For the past four years this committee has been over-sighting this ministry in terms of budgetary appropriations and other assistance, no significance progress can be said to have been made .

“Most of our missions are in sorry state by not being able to pay their electricity or water bills and even the nation’s diplomats too are in a state of hunger and indebtedness based on information gathered or practical experience witnessed.

“The so-called diplomats cannot pay their children school fees, and the worst of it is the toilet of the Nigerian embassy in Moscow, Russia, is stinking due to non-functionality of its flusher, embarrassingly making anybody that uses it to flush it with bucket of water fetched from adjoining embassy.

“It is saddening that from all indications and based on budgetary proposals tabled before this committee, government is not making any serious attempt in tackling the global ridicule that smaller countries like Cuba, and Jamaica, are not facing.”

- THECABLE

Lagos Police dismiss officer who killed Kolade Johnson

Ogunyemi Olalekan, a police inspector involved in the killing of Kolade Johnson, has been dismissed from the force. 

Olalekan was found guilty after an orderly room trial that started on Monday.

A stray bullet had hit the deceased during a raid by the anti-cultism unit of the police command at Onipetesi, Lagos-Abeokuta road on Sunday.

Following a nationwide outrage, the police had identified Olalekan and Godwin Orji, a sergeant as suspects who carried out the shooting.

In a statement on Thursday, Bala Elkana, Lagos police spokesman, said only Olalekan was found guilty.

“The two Police Officers alleged to have been involved in the shooting of Kolade Johnson on 31/03/2019 were apprehended and subjected to internal disciplinary proceedings, known as Orderly Room Trial by the Command,” the statement read.

“The Orderly Room trial commenced on Monday 01/04/2019 and ended on Thursday 04/04/2019.

“They were tried on  three count charges: (1) Discreditable Conduct (2) Unlawful and Unnecessary Exercise of Authority and (3) Damage to Clothing or Other Articles contrary to Paragraph E (iii), Q (ii) and D (i) First Schedule, Police Act and Regulations, Cap 370 LFN 1990.

“The Trial started with the reading of charges and taking of plea.

“Five witnesses testified.

“At the conclusion of the trial, the first defaulter, Inspector Ogunyemi Olalekan was found guilty of Discreditable conduct by acting in a manner prejudicial to discipline and unbecoming of members of the Force by shooting and killing Kolade Johnson; Unlawful and Unnecessary exercise of authority by using unnecessary violence, by using AK 47 rifle on the deceased in total neglect to the provisions of Force Order 237 on the use of Firearms.

“The Adjudicating Officer, CSP Indyar Apev awarded the punishment of dismissal from service and prosecution to the First defaulter.

“There was no evidence linking the second defaulter, Sergeant Godwin Orji to the shooting, he was therefore found not guilty and discharged and acquitted.”

The police added that they had handed Olalekan over to the criminal investigation department for prosecution in a conventional court.

- THECABLE

Amaechi commits suicide

A 42-year-old newspaper vendor, simply identified as Amaechi, has committed suicide in Sapele, Sapele Local Government Area of Delta State.

The deceased was seen dangling on rope tied to his ceiling fan in his apartment today, an indication that he allegedly hanged himself.

It was learnt that the deceased was last seen on Monday.

An eyewitness said the deceased, who is a native of Kwale community said nobody knew when he returned back to the house.

The eyewitness said, “We never knew he had hung himself in his room.

“It was only this morning when we were beginning to inhale some foul odour and people has been coming to ask of him that we suspected foul play.”

Neighbours described the deceased as a “withdrawn person” who hardly interacted with people.

“He was much of a mystery man; nobody knew much about him. We only know him as Amaechi, not even his landlord knows his other name.

“He was not known with any friend or wife, the only family known with him was that his older brother, who died last year and since he died, we learned his family moved back to Kwale.”

Contacted, the Delta State Acting Police Public Relations Officer, ASP Orisewejie Chuks said he was also informed of the development, but could not immediately lay hands on details as at the time he was reached for comments.

- DAILY POST

26-year-old man arrested in Kano for slaughtering wife

The Police Command in Kano state has arrested a 26-year-old man, Aminu Inuwa, of Jakada Quarters Kano, for allegedly slaughtering his 17-year-old wife, Safara’u Aminu.

The Command’s Public Relations Officer(PPRO), DSP Abdullahi Haruna, confirmed the arrest of the suspect in Kano on Thursday.

He said, “On April 3 at about 11 am the command received a report that on April 2 at about 12 pm Inuwa slaughtered his wife to with a knife.

Haruna alleged that the suspect and his wife had a misunderstanding, after which Inuwa slaughtered his wife and buried her in the house.

“The police exhumed the corpse from the grave and took her to Murtala Muhammad Specialist Hospital Kano for autopsy,” he said.

He said the command had since commenced an investigation in the matter.

The PPRO said during the investigation, the suspect had confessed to committing the crime.

He said the suspect would be charged to court as soon as the investigation into the matter is completed.

- PM NEWS

NDLEA boss worries over school-age children’s involvement in drug trafficking

Edo State Commander of the National Drug Law Enforcement Agency NDLEA, Mr Buba Wakawa has expressed worries over the involvement of school-age children in drug trafficking and abuse.

Wakawa disclosed this on Thursday, while presenting the first quarter report of the Command.

He said 16 of the 72 suspected drug traffickers arrested were between 15 and 24 years, of which 48 were male and 24 female.

This, according to the Commander, “is a wake-up call for parents and other stakeholders to intensify the campaign against drug abuse.”

A total of 6,645kg of assorted hard drugs were recovered from the suspects.

The Command also identified and destroyed 2.543732 hectares of cannabis farms.

“Some of the farms were located at Usen and Ugbogui, in Ovia South West Local Government Area and Uromi in Esan South West Local Government Area,” he said.

Vehicles impounded include one ash-coloured Toyota Sienna, with registration number Ondo AKR 384 AL and ash-coloured​ Nissan Sunny, with registration number Lagos LND 898 BL.

Among the suspects, 28 fell within 25 and 34 years; 16 suspects fell within 15 and 24 years and 34 to 44 years respectively, while six suspects fell within 45 and 54 years.

Indigenes of Edo State were the highest among the suspects, with a total of 30, while 26 were Delta indigenes.

The Command also convicted two drug dealers and counselled 80 others against drug abuse problem.

- PM NEWS

What NAFDAC DG said about FanYogo gin, ginger will make you conscious

The National Agency for Food and Drug Administration and Control (NAFDAC) says it has not registered FanYogo Gin and Ginger drink in Nigeria.

Its Director-General, Prof. Moji Adeyeye, made the clarification on Thursday in Abuja.

Adeyeye said that the drink, which contained 12.5 per cent alcohol, and being circulated in the social media, was not a product of Fan Milk Plc.

“The attention of NAFDAC has been drawn to the images of Fan Milk “FanYogo Gin & Ginger” purported to contain 12.5 per cent alcohol being circulated widely to the general public via social media.

“The management of NAFDAC is using this medium to reassure the general public that the said product is not registered by NAFDAC; is not known to NAFDAC and is not in circulation in Nigeria.

“NAFDAC has carried out a thorough investigation at the facility of Fan Milk Plc.

“We can confirm that no such product is being developed by the company and no stock of packaging materials of the said “Fan Yogo Gin & Ginger” were found in the premises,” she said.

Adeyeye added that Fan Milk PLC had also notified NAFDAC that the said product did not originate from the company.

“The company, Fan Milk PLC, known to NAFDAC as a producer of milk products, has also issued a letter to NAFDAC in which they referred to the image circulating in the news and social media as a ‘false, mischievous and malicious image’.

“The communication to NAFDAC includes the following statements which we share below for the re-assurance of the general public –

“The product or image in question is not among any of the current Fan Milk Nigeria products currently produced in Nigeria and anywhere within the West Africa Cluster.

“FanYogo is one of the brands produced by Fan Milk Ghana Limited, one of our sister companies. The purported ‘FanYogo Gin & Ginger’ will not be registered in Nigeria.

“The image came to fore just as Fan Milk Ghana started a public poll to decide the release of a new flavor.

“The images are the imagination of some mischief makers that have seized the opportunity to distort the social media space.

“The poll has since been shut down considering that children may be exposed to the images.

“The NAFDAC management wishes to reassure the general public that the agency is fully alive to her responsibilities, ” Adeyeye said.

She assured the public of the safety, wholesomeness and quality of processed foods and other regulated products offered for sale.

- PM NEWS

Nigerians no longer eligible for 3 months tourist visa to Dubai

The action of five Nigerians arrested for robbing a bureau de Change in the United Arab Emirates (UAE) has led the authorities to suspend the issuance of three months tourist visa to Nigerians.

The suspension is coming barely two days after five Nigerians were arrested for robbing a Bureau de Change operator of Dh2.3 million (N225.4 million) in Sharjai, Dubai.

The suspects were identified as Chimuanya Emmanuel Ozoh, Benjamin Nwachukwu Ajah, Kingsley Ikenna Ngoka, Tochukwu Leonard Alisi and Chile Micah Ndunagu.

A travels and tours firm, Afric Holidays, announced this in a statement through its Instagram page.

The statement read, “Nigerian Passport holders are no longer eligible to three months UAE Tourist Visa.

“Nigerian Passport holders are now restricted to one month, 96 hours and 48 hours UAE Tourist Visas till further notice.”

The suspects would have returned with over 250 Million Naira of funds robbed in UAE if not that they were caught by the police.

- PM NEWS

NEXT LEVEL HIDDEN AGENDA !! IMF supports VAT hike, asks FG to recapitalise weak banks

The International Monetary Fund (IMF) says the federal government should end fuel subsidies and create a credible timeline to recapitalise weak banks in the country.

At the conclusion of the IMF Executive Board 19 Article IV Consultation with Nigeria, the financial institution expressed its support for the government’s plans to reform and raise value-added tax (VAT).

In its report seen by TheCable, the IMF said 2.5 percent in the medium term, but with population growing at a faster rate, growth per capital will be less than zero percent.

It also called on the Central Bank of Nigeria (CBN) to stop its direct intervention in the foreign exchange market.

“They welcomed the authorities’ tax reform plan to increase non-oil revenue, including through tax policy and administration measures,” IMF directors said via a statement mailed to TheCable.

“They stressed the importance of strengthening domestic revenue mobilization, including through additional excises, a comprehensive VAT reform, and elimination of tax incentives.

“Directors highlighted the importance of shifting the expenditure mix toward priority areas. They welcomed, in this context, the significant increase in public investment but underlined the need for greater investment efficiency.

“They also recommended increasing funding for health and education. They noted that phasing out implicit fuel subsidies while strengthening social safety nets to mitigate the impact on the most vulnerable would help reduce the poverty gap and free up additional fiscal space.”

RECAPITALISE WEAK BANKS

The IMF directors “welcomed the decline in nonperforming loans and the improved prudential banking ratios but noted that restructured loans and undercapitalized banks continue to weigh on financial sector performance”.

They suggested “strengthening capital buffers and risk based supervision, conducting an asset quality review, avoiding regulatory forbearance, and revamping the banking resolution framework”.

“Directors also recommended establishing a credible time bound recapitalization plan for weak banks and a timeline for phasing out the state backed asset management company AMCON”.

- CABLE NIGERIA 

FUTURE SENATORS !! PHOTOS :EFCC arrests 16 Yahoo boys in separate raids [

The Economic and Financial Crimes Commission, EFCC, Uyo zonal office, on Wednesday arrested five internet fraudsters in a sting operation.

The suspects are Uchendu Denis, Osinachi Sam David, Chikezie Bright, Francis Martins and Okafor Emmanuel.

They were arrested at Nsini Odeyop Street, Shelter Afrik Estate, Uyo, Akwa Ibom State, following intelligence report on their suspicious activities.

At the time of arrest, it was discovered that the suspects, who were lodging in a 3 bedroom flat, used one of the rooms for their cyber crime activities.

Items recovered from them include: one hundred and twenty three sim cards, including a Turkish sim card, six Laptops, thirteen expensive mobile phones, several books and diaries containing several phone numbers and over three hundred email addresses, amongst others.

EFCC, in a statement, said they will be charged to court as soon as investigations were concluded.

Similarly, the Ibadan zonal office also on Wednesday arrested 11 suspected internet fraudsters.

Six of the suspects were arrested at Ologunerun, a suburb in Ibadan, Oyo State. The other five were picked up at a location in Ijebu-Remo, Ogun State.

Those from Ibadan are: Akinbinu Akinfemi, Wasiu Adeyemi, Idowu Samson, Tijani Usman, Saheed Eniafe and Adeyi Victor.

Benson Gospel, Abdulazeez Gafar, Agbumabiwon Abiodun, Abayomi Awotedu, and Bukayo Abiodun were apprehended at Ijebu Remo.

The arrest of the suspects who are aged between 17 and 29 years, was occasioned by petitions from their neighbours, detailing their alleged fraudulent activities.

The alleged acts include love scam and other forms of internet fraud through which they obtain money from unsuspecting victims.
Items recovered from them include laptop computers, mobile phones and several documents containing false pretences.

They will also be charged to court soon.

- DAILY POST

TRANSFER NEWS : Chelsea star finally reaches summer conclusion

Chelsea star, Mateo Kovacic has finally decided not to leave the club this summer transfer window.

Kovacic joined Chelsea on a season-long loan deal from Real Madrid last year.

The midfielder has already been told that he will not be in Real Madrid manager, Zinedine Zidane’s plans next season.

However, Goal reports that Kovacic has now decided to remain at Stamford Bridge after the end of the season than returning to his parent club, Real Madrid.

The 24-year-old has since established himself as a key member in Chelsea manager, Maurizio Sarri’s starting XI this campaign.

The Croatian international has featured for Chelsea in over 40 matches in all competitions this season, helping the Blues progress to the Europa League quarter-finals, where they will tackle Slavia Praha next week Thursday.

- DAILY POST

Nigeria among world’s hungriest countries – UN

The United nations has released a list of countries with worst food indices in 2018.

According to the Global Report on Food Crisis, no fewer than 113 million people experienced high levels of food insecurity in the world’s most severe food crisis in history.

The report, which was released yesterday in Brussels, revealed that these food crises were primarily driven by conflict and climate-related disasters.

One of the key findings of the report showed that nearly two-thirds of those facing acute hunger were in just eight countries.

These countries were Afghanistan, the Democratic Republic of the Congo, Ethiopia, Nigeria, South Sudan, Sudan, Syria and Yemen.

“The worst food crises in 2018, in order of severity, were: Yemen, the Democratic Republic of the Congo, Afghanistan, Ethiopia, the Syrian Arab Republic, the Sudan, South Sudan and northern Nigeria.

“These eight countries accounted for two thirds of the total number of people facing acute food insecurity – amounting to nearly 72 million people,” according to the report.

Similarly, short-term outlook of food insecurity for 2019 showed that “Yemen, the Democratic Republic of the Congo, Afghanistan, Ethiopia, the Syrian Arab Republic, the Sudan, South Sudan and northern Nigeria are expected to remain among the world’s most severe food crises in 2019.

“Large segments of populations in most of these countries risk falling into Emergency (IPC/CH Phase 4) levels of acute food insecurity,” it stated.

The report further added: “In the 16 states of northern Nigeria and the Federal Capital Territory, the number of people in ‘Crisis’ and ‘Emergency’ decreased by 40 percent between June and August 2017 and 2018 to 5.3 million.

“At the peak of the lean season three million were acutely food insecure in the three North-Eastern states affected by the Boko Haram insurgency where protracted conflict and mass displacement disrupted agriculture, trade, markets and livelihoods, and pushed up food prices,” said the report.

Food and Agriculture Organisation (FAO)’s Director-General, José da Silva, said in spite of a slight drop in 2018 in the number of people experiencing acute food insecurity, “the figure is still far too high.”

- DAILY POST

NAFDAC raises alarm over fake meningitis vaccine

The National Agency for Food and Drug Administration and Control (NAFDAC) has alerted Nigerians, especially health care providers, on the circulation of fake meningitis vaccines circulating in Niger Republic.

According to a press statement by Prof. Moji Adeyeye, NAFDAC’s Director General, health authorities in that country issued alert on the fake vaccines after it was discovered during a routine inspection of pharmacies in Niamey in March.

“We are raising an alert on the circulation of MencevaxTM ACWY and MencevaxTM ACW vaccines circulating in Niger Republic.

“The Health Authorities of the Republic of Niger issued an alert on the fake vaccines discovered during routine inspections of the pharmacies in Niamey, Niger Republic, on 14th March, 2019.

“The Lot number of the fake MencevaxTM ACW vaccine is AMEN A020 AA, while the Lot number of the fake MencevaxTM ACWY is AMEH A020 AA,” she said.

Adeyeye said that the fake vaccine had a manufacturing date of December 2016, and an expiring date of November 2021.

She said that the genuine vaccines used to control an outbreak of meningococcal infection were registered by NAFDAC in favour of Glaxo SmithKline Beecham (GSK), adding that Pfizer acquired the vaccines from GSK in 2015.

She warned importers and retailers of pharmaceutical products not to a import or sell the fake vaccine.

“The fake MencevaxTM ACWY vaccine has a manufacturing date of December 2016 and an expiring date of November 2021.

“Genuine MencevaxTM ACW and MencevaxTM ACWY vaccines are used to control outbreak of meningococcal infection.

“The genuine vaccines were registered by NAFDAC in favour of Glaxo SmithKline Beecham (GSK). Pfizer acquired the vaccines from GSK in 2015.

“NAFDAC implores all importers, wholesalers, and retailers not to illegally import, distribute and sell the fake Mencevax vaccines,” she said.

The NAFDAC boss said that Pfizer discontinued the sale of such vaccine in Nigeria in 2018, adding that NAFDAC had increased surveillance in all ports of entry to prevent the fake vaccine from entry into Nigeria.

” Pfizer Specialties Limited, 21 Lugard Avenue, Ikoyi Lagos discontinued commercialization of Mencevax Vaccines in Nigeria in June 2018.

“As a result of the discontinuation of commercialization of the vaccines, Pfizer specialties Limited no longer import the vaccines into Nigeria.

“Surveillance has been strengthened by NAFDAC at all ports of entry to prevent importation of the fake vaccines from Niger Republic, and to prevent the distribution and sale of the fake vaccine,” she said.

Adeyeye, therefore, advised healthcare providers and other members of the public to be vigilant and contact the nearest NAFDAC office with any information on the fake vaccines.

She urged anybody in possession of the fake vaccines to submit such to the nearest NAFDAC office.

She also asked consumers to report adverse events related to the use of vaccines to the nearest NAFDAC office; via NAFDAC PRASCOR (20543 TOLL-FREE for all Network ) or via pharmacovigilance@nafdac.gov.ng.

- DAILY POST