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Emefiele: Court orders forfeiture of another $1.7m
Emefiele: Court orders forfeiture of another $1.7m
A Federal High Court, sitting today May 29, at Ikoyi, Lagos has again ordered an interim forfeiture of the sum of $1, 426, 175.14 million, linked to the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
This is to allow anyone interested in the money being sought to be forfeited to appear before the Court within 14 days and show cause why the final order of forfeiture of the said sum should not be made in favor of the federal government of Nigeria.
It would be recalled that Justice Yellim Bogoro had earlier ordered an interim forfeiture of the sums of $4,719,054 million USD, N830,875,611 million, and several properties linked to the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
Justice Bogoro had made the order following an ex-parte argued by the Economic and Financial Crimes Commission (EFCC) counsel, Bilkisu Buhari and C.C Chineye.
Justice Faji, however, made the above orders, while granting an ex-parte motion marked FHC/L/CS/232/2024, moved by the lawyer to the Economic and Financial Crimes Commission (EFCC), Mrs. Bilikisu Buhari-Bala.
The money forfeited in the interim is said to be in Donatone Limited’s account number: 2000000500 domiciled in Titan Bank Limited.
While requesting the orders from the court, Mrs. Buhari-Bala, informed the court that the orders sought are pursuant to Section 17 of the Advance Fee Fraud and Other Fraud-related Offences Act No. 14, 2006, and Section 44 (2)(B) of the 1999 Constitution of the Federal Republic of Nigeria.
She also told the court that the grounds for the orders are: “That this honourable court has the statutory powers under the provisions of section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006 to grant the reliefs being sought.
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“That the funds sought to be forfeited are reasonably suspected to be proceeds of unlawful activities.”
Mrs. Buhari-Bala also told the court that the motion Ex-parte is supported by an affidavit deposed to by an investigator with the EFCC, David Jayeoba.
In the affidavit, the deponent, Jayeoba stated that his commission received credible and directed intelligence which led to the tracing of funds reasonably suspected to be proceeds of unlawful activities warehoused in the Donatone Limited (DL) Titan Trust Bank account, which funds are reasonably suspected to be part of proceeds of unlawful activities.
He also stated that the EFCC, while investigating the monumental fraud carried out by the erstwhile Central Bank of Nigeria Governor, Godwin Emefiele (GE) and his Cronies, discovered a huge amount of money warehoused and concealed in the account of Donatone Limited, domiciled in Titan Trust Bank.
Jayeoba said that investigation revealed that some of the brains behind the fraudulent concealment of funds reasonably suspected to have been proceeds of unlawful activities of the erstwhile Central Bank of Nigeria’s Governor, Mr Godwin Emefiele, are the natural persons behind Donatone Limited, Uzeobo Anthony and Adebanjo Olurotimi, who are directors Donatone Limited.
The deponent further stated the following: “Between 2021 and 2022, when accessibility to Forex in Nigeria was difficult, several international entities operating in Nigeria had to resort to different means to source Forex.
“That Uzeobo Anthony and Adebanjo Olurotimi used the firm, to collect bribes and gratification on behalf of Godwin Emefiele, to get approval for accessing Forex. And that one of the entities (NP) paid a total sum of $26,552 million USD, into the account of a firm domiciled in Titan Trust account number 2000000500.
“That the said credits came into the account of the firm on November 9, 2021: $6,450,000; November 5, 2021: $6,050,000.00; December 16, 2021: $5,400,000.00; December 23, 2021: $652,000; January 31, 2022; $3,000,000.00 and September 21, 2022: $5,000,000.00.
“The investigation traced the funds to having been fixed into interest-yielding accounts, dissipated and laundered through a foreign account in Mauritius, and transported back to Nigeria under disguise.
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“That of the total sum of $26, 555, 000.00 US dollars received by the firm, the balance standing in the said account as of today is the sum of $1, 426, 175.14 million USD.
“That it is the balance in the account that the applicant seeks to forfeit to the Federal Government of Nigeria, which has been traced to be the proceeds of unlawful activities of (GE) and his cronies.
“And that investigation further revealed that the international entities sourcing for forex were pressured into parting with huge funds to access forex during the period.
“That the signatories to the account warehousing the sum of $1, 426, 175.14 million USD, sought to be forfeited are at large and are making frantic efforts to dissipate the funds electronically. And based on our investigation findings, the funds sought to be forfeited are proceeds of unlawful activities of (GE) and his cronies. And that it is in the interest of justice to grant this application.”
Justice Faji, after granting the orders, adjourned the matter to June 25, for a hearing of the final forfeiture of the money.
Justice Yelim Bogoro had on May 25, 2024, ordered interim forfeiture of $4.7m, N830m, and some property assets linked to Emefiele.
The monies forfeited to the Federal Government in the interim were said to be warehoused in First Bank; Titan Bank and Zenith Bank, being operated by Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd; Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd and TIL Communication Nigeria Ltd.
The properties forfeited in the interim were: 94 Units of an 11-floor building under Construction at 2, Otunba Elegushi 2nd Avenue (Formerly Club) Road, iKoyi, Lagos; AM Plaza, 11-floor office space, situated on 1E, Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos; Imore Industrial Park 1, Esa Street, Imoore Land purchased with (Deep Bive Industrial Town, Oriade LCDA, Amuwo Odofin LGA, Lagos, Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos, Owolomi Village, ibeju-Lekki LGA, Lagos and two properties purchased from Chevron Nigeria, Closed PFA Fund, Block B. Lot twin completed property in Lakes Estate, Lekki, Lagos.
Emefiele: Court orders forfeiture of another $1.7m
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Executive Order: NAFDAC praises Tinubu for advancing drug and health security
Executive Order: NAFDAC praises Tinubu for advancing drug and health security
The National Agency for Food and Drug Administration and Control (NAFDAC) has lauded President Bola Ahmed Tinubu for signing an executive order to strengthen drug and health security in Nigeria.
In a statement on Saturday, NAFDAC Director-General Prof. Moji Adeyeye highlighted that the executive order is designed to transform Nigeria’s health sector. The order focuses on increasing local production of healthcare products, reducing healthcare equipment and consumables costs, and promoting local investments.
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Prof. Adeyeye emphasized that this move paves the way for a sustainable and high-quality healthcare system for all Nigerians. She noted that the executive order demonstrates the administration’s dedication to transforming the health sector and aligns with the Nigeria Health Sector Renewal Investment Initiative (NHSRII) and the Presidential Initiative on Healthcare Value Chain (PVAC), which was approved in October 2023.
Prof. Adeyeye also mentioned that NAFDAC has been implementing measures to enhance the local manufacturing of drugs and other health commodities over the past six years. She stated that the Tinubu administration has created an environment where local manufacturers can excel and compete effectively.
Executive Order: NAFDAC praises Tinubu for advancing drug and health security
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Food Security: Saudi Arabia plans farm equipment manufacturing plants in Nigeria
Food Security: Saudi Arabia plans farm equipment manufacturing plants in Nigeria
Senator Abubakar Kyari, the Minister of Agriculture, announced that Saudi Arabia has shown interest in establishing manufacturing plants in Nigeria for farming equipment.
Kyari disclosed this in a statement on his Twitter account on Saturday following a meeting with stakeholders from the Middle Eastern state. He highlighted that the objective is to enhance Nigeria’s agricultural sector through mechanization by locating these plants within the country.
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Additionally, Kyari mentioned that Saudi Arabia has committed to purchasing 200,000 metric tons of red meat annually from Nigeria and one million tons of soya. He emphasized that this initiative will bolster the agricultural sector and the nation’s production capacity.
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Release Nnamdi Kanu now, Peter Obi urges FG
Release Nnamdi Kanu now, Peter Obi urges FG
The presidential candidate of the Labour Party in the last general election, Peter Obi, has called on the Federal government to release Nnamdi Kanu, the leader of the Indigenous People of Biafra (IPOB).
Speaking to journalists at his residence in Onitsha, Anambra State, Obi described Nigeria as being on the brink of failure and emphasized the importance of upholding the rule of law. He called on the Federal government to release Nnamdi Kanu promptly, citing court rulings that granted him bail.
“My take on Nnamdi Kanu is that I don’t see any reason for his continued detention, especially as the courts have granted him bail. The government must obey the court. The rule of law is an intricate asset that we must cherish and live with. I use this same opportunity to plead with the federal government to ensure that all those who are in similar conditions are released and discussed. We are in a democracy, and we should not be doing things that are arbitrary and not within the law.
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I want to use this opportunity to say that all those who are being held because of one protest or the other should be released. Whether it is freedom fighters, End Sars protesters, or even because of freedom of speech, be it journalists, let them all be released immediately.
We are a democratic country, and people have rights under the constitution to express themselves freely. They also have the right to peaceful protest, and we must listen to them. We must listen to those who say they are not happy, that is why it is a democracy. We should stop acting dictatorial and behave as if this is not a democratic country.” he said
Release Nnamdi Kanu now, Peter Obi urges FG
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