Court orders forfeiture of $2m, properties linked to Emefiele – Newstrends
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Court orders forfeiture of $2m, properties linked to Emefiele

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Godwin Emefiele in court

Court orders forfeiture of $2m, properties linked to Emefiele

Justice Akintayo Aluko of a Lagos Federal High Court, has ordered interim forfeiture of cash sum of $2, 045, million USD, linked to the embattled former governor of the Central Bank of Nigeria, Mr. Godwin Ifeanyi Emefiele.

The judge also ordered interim forfeiture of the seven landed properties linked to the suspended CBN Governor.

The lands are listed as follows: “two fully detached duplex of identical structures, lying being and situate at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped/bare land, measuring 1919.592sqm with Survey Plan No. DS/LS/340 LYING, being and situate at Oyinkan Abayomi Drive (Formerly Queens Drive), Ikoyi, Lagos; a bungalow lying, being and situate at No. 65a Oyinkan Abayomi Drive, (Formerly Queens Drive), Ikoyi, Lagos; four bedroom duplex lying, being and situate at 12a Probyn Road, Ikoyi; Industrial complex under construction on a 22-plot of land, lying, being and situate in Agbor, Delta State; 8 units of undetached apartment on a plot measuring 2457.60sqm OF lying, being and situate at No. 8a Adekunle Lawal Road, Ikoyi, and a full duplex together with all its appurtenances on a plot of land measuring 2217.87sqm lying, being and situate at 2a Bank Road, Ikoyi, Lagos.

Justice Aluko further ordered the interim forfeiture of 2 shares shares certificates of Queensdorf Global Fund Limited trust.

The judge made the interim forfeiture orders after taken application for the orders in a suit marked FHC/L/MISC/500/24, which was filed moved and moved by the Economic and Financial Crimes Commission (EFCC) lawyer, Mr. Rotimi Oyedepo (SAN), who led Chineye C. Okezie and Zeenat Atiku Bala.

The EFCC lawyer,  in urging the court, said the money and others items sought to be forfeited are reasonably suspected to be proceeds of unlawful activities.

Oyedepo also added that the orders sought for are pursuant to Section 17 of the advance fee fraud and Other Fraud Related Offences Act No. 14, 2006, Section 44 (2)(B) of the 1999 Constitution of the Federal Republic of Nigeria and the court’s inherent jurisdiction.

Oyedepo (SAN) also informed the court that the motion ex parte is supported with an affidavit deposed to by one Idi Musa, an Investigator attached to the Lagos office of the EFCC.

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Parts of the deponent’s averments in the affidavit reads: “that I am one of the operatives of the Economic and Financial Crimes Commission assigned to investigate the damning intelligence report received by the Economic And Financial Crimes Commission in respect of monumental fraudulent activities perpetrated by some senior officers of the Central Bank of Nigeria through which huge sums of money were fraudulently converted and transferred for personal use.

“That the Commission whilst investigating the alleged monumental fraud carried out by the immediate past Governor of the Central Bank of Nigeria (CBN) and his Cronies traced and discovered several properties reasonably suspected to have been acquired and or developed with proceeds of unlawful activities.

“That the said properties particularized in Schedules ‘A’ and ‘B’ herein, having been reasonably suspected to have been acquired/ developed with proceeds of unlawful activities are now sought to be forfeited to the federal Government of Nigeria in the interim.

“That in the cause of this investigation, it was revealed that the erstwhile CBN governor negotiates kickbacks in return for allocation of Foreign Exchange to some companies who were in desperate need of foreign exchange for their lawful and legitimate businesses.

“That most of the proceeds of Godwin Emefiele’s illegal activities were invested in the acquisition of various properties now sought to be forfeited to the Federal Government of Nigeria. And that the properties now sought to be forfeited were not acquired with proceeds of any legitimate earnings rather from funds reasonably suspected to have been derived from proceeds of unlawful activities.

“That from findings of our investigation, I also know as a fact and verily believe that the properties sought to be forfeited were acquired in the name of cooperate entities with a view to concealing the unlawful origin of the funds used for their acquisition. And that the title document in respect of the properties listed in schedule A herein were recovered by the team in the course of this investigation.

Justice Aluko after listening to Oyedepo submission, reading through all the processes filed and the plethora of legal authorities cited, granted the interim forfeiture of the money, the share certificates and the landed properties.

The judge also directed the EFCC to publish the interim forfeiture order in a national newspaper to enable any anyone who is interested in the properties to appear before the Court and show cause within 14 days, why the final order of forfeiture of the said properties should not be made in favour of the Federal Government of Nigeria.

Further hearing of the matter was adjourned to September 5.

Court orders forfeiture of $2m, properties linked to Emefiele

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Suspected IPOB members kill two soldiers in Imo

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10 hours ago

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December 28, 2024

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Nigerian Military Troop

Suspected IPOB members kill two soldiers in Imo

The Nigerian Army has confirmed the death of two soldiers and the theft of their weapons by operatives of the Eastern Security Network (ESN), the militant arm of the Indigenous People of Biafra (IPOB).

IPOB is a separatist group advocating for the creation of the Republic of Biafra, citing longstanding grievances over the marginalization of Nigeria’s South-East region since the Biafra-Nigeria civil war.

In a statement released on Saturday, the Nigerian Army explained that the incident occurred in Osina, Ideator North Local Government Area of Imo State, when troops from the 34 Artillery Brigade, returning from a routine patrol, responded to an emergency call about an attack on Osina Community by IPOB/ESN forces.

The statement revealed that upon arrival, the troops engaged the “terrorists” with overwhelming firepower, resulting in casualties among the attackers. However, the Army did not provide specific numbers, only noting that the “dissidents” eventually withdrew in disarray.

“Unfortunately, two security agents had been killed in action and one other missing in action, with their weapons—a AK-47 rifle and a tear gas launcher—being seized by the terrorists,” the statement said.

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The Army confirmed that the bodies of the fallen soldiers had been recovered, and the troops pursued the fleeing militants.

“Contact was again made with the criminal IPOB/ESN elements at Nkwachi Community, and in the firefight that ensued, one of the dissidents was neutralized while others, unable to withstand the troop’s firepower, retreated into the nearby forest. One AK-47 rifle with a fully loaded magazine was recovered, ” the statement said, adding that the troops continued their pursuit into Umalouma forest, where another intense exchange of fire took place.

“The dissidents eventually abandoned their weapons due to the troops’ superior firepower and scattered into the dense forest with severe gunshot wounds. An additional four AK-47 rifles, one Fabrique Nationale rifle, and two magazines were recovered,” the statement added.

The Army assured the public that operations would continue, with efforts to track down and eliminate the remaining criminals. “Further exploitation is ongoing as troops continue to track down the injured terrorists and flush them out of their hideouts and treatment locations,” the statement stated. “We urge all IPOB/ESN elements and other criminals hiding in the bushes to surrender to the nearest troops or face defeat, as the Brigade will ensure that the people of Imo celebrate the Yuletide season in peace, free from fear or intimidation.”

The Nigerian Army also called on the people of Imo State to continue providing timely intelligence to assist in the fight against criminal elements and help rid the state of lawlessness.

 

Suspected IPOB members kill two soldiers in Imo

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13 passengers burnt to death in Ondo auto crash

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10 hours ago

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December 28, 2024

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An accident scene File photo

13 passengers burnt to death in Ondo auto crash

The Federal Road Safety Corps, Ondo State Sector Command, says no fewer than 13 people were burnt to death along Ikare-Akoko/ Owo Road on Saturday in the state.

Dr Samuel Ibitoye, FRSC State Sector Commander made this known in a statement made available to the News Agency of Nigeria on Saturday in Akure.

“FRSC regrets to inform the public about a road traffic crash that occurred today 28 December, 2024 at Abule Panu before Ose Bridge, on Owo-Ikare highway, Ondo State.

“The fatal crash which occurred at about 10:14 AM claimed 13 lives of commuters in two buses.

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“A total of 14 people were involved, out of which 13 were burnt beyond recognition, while only one was rescued alive with serious injuries.

“Eyewitness account indicates that the bus coming from Ikare axis had a tyre burst which led to loss of control.

“This was resultant in a head-on collision with the bus loaded with fabric coming from Owo axis.

“Immediately after the collision, the two buses went up in flames. The men of FRSC, Police and Fire Service were swiftly at the crash scene for rescue,” he said.

The FRSC boss said that the injured victim was taken to Federal Medical Centre, Owo, while the deceased were deposited at the morgue of the same hospital.

He, therefore, advised drivers to exercise patience on the roads and passionately maintain their vehicles.

“Passengers are also encouraged to speak out against dangerous driving because road safety is a concern of all,” Ibitoye said.

13 passengers burnt to death in Ondo auto crash
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NDDC empowers Niger Delta young entrepreneurs with N30bn

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10 hours ago

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December 28, 2024

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NDDC empowers Niger Delta young entrepreneurs with N30bn

The Niger Delta Development Commission (NDDC) has pledged to galvanise the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) by releasing N30 billion counterpart fund for the development of young entrepreneurs.

The NDDC Managing Director, Dr Samuel Ogbuku who disclosed this in Port Harcourt, restated the Commission’s commitment to empowering the people of the region through economic programmes. 

He highlighted the NDCCITMA’s role in training youths, supporting SMEs, and designing industry-friendly skill development programmes.

Ogbuku said the NDDC was supporting the NDCCITMA to drive economic growth and development in the Niger Delta region by providing financial support, training and networking opportunities for businesses and entrepreneurs.

He said,  “We are providing N30 billion to fund projects and support businesses to ensure the sustainability of our youth development initiatives.

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“We will release the matching funds so the entrepreneurs can access them to boost their businesses. In our 2024 budget, we have provision for N30 billion which we are to use as matching funds for the chamber of commerce. We are working towards releasing this fund so that the chamber of commerce can start work in earnest.

“The Niger Delta Chamber of Commerce will strengthen young entrepreneurs in the region. It is no longer acceptable for our youths to be contented with receiving stipends while at home doing nothing.
Ogbuku remarked that the Commission was collaborating with the Bank of Industry, BOI, to ensure the success of NDDC’s youth development programmes.

“The current NDDC Board and Management choose to look at sustainable options in designing youth programmes. In the past, we did a lot in supporting entrepreneurs in the Niger Delta but these activities were not properly documented and backed with verifiable data.

“Our new strategy is to support genuine entrepreneurs rather than people who are just portfolio entrepreneurs because we know that the government alone cannot employ everybody. Many university graduates are coming out, and the government cannot employ all of them. However, we can empower them by creating an environment where they can engage other persons to expand their businesses.”

 

NDDC empowers Niger Delta young entrepreneurs with N30bn

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