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Tag: Accountant

  • Alleged N1.07b, $975k fraud: Court refuses lady accountant bail

    Alleged N1.07b, $975k fraud: Court refuses lady accountant bail

    The Federal High Court in Lagos yesterday declined to grant bail to an accountant, Omafume Augustina Ayinuola, who is standing trial on an alleged fraud involving N1.07 billion and $975, 102.58.

    Justice Akintayo Aluko turned down Omafume’s bail application on the grounds that she was a flight risk.

    Omafume, alongside her mother, Lydia Abosede Ehrievuyere, and their firm, Patridia Resources Limited, are standing trial before the judge on a 15-count charge of alleged conspiracy, obtaining by false pretence, forgery and fraud.

    The charge was brought against them by the Force Criminal Investigation Department (Force CID) Annex Alagbon-Ikoyi Lagos.

    Mother and daughter were arraigned on August 16.

    Prosecution counsel Morufu Animashaun told the court that they perfected the alleged offences between 2017 and 2021 at Trailer Park, Agbara, Lagos.

    The court heard that the defendants committed the alleged fraud against several firms, including Oritsetimeyin Logistics Limited, PUO Assets Limited, Resolution Capital Limited, Pine Petosan Limited, Grace Capital Limited, RsL International Limited, RsL Ventures Capital Limited, Grace & Mercy Capital Limited and Grace Assets Limited.

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    The funds were said to be meant for the purchase and supply of consumables for the office of the firms listed above.

    The prosecutor alleged that first defendant, Omafume, while working with the firms, used her position to illegally convert to her personal purse various sums of money amounting to N1,072,254,411 billion and $975,102.58.

    He alleged that the second defendant Ehrievuyere and her firm, Patridia Resources Limited, concealed the origin of the funds that they received from Omafume.

    The court heard further that Ehrievuyere used part of the alleged illicit funds to purchase and develop her family house located at 14, Irawodidia Street, Obadore, Off LASU Road, Igando, Lagos.

    He told the court that the defendants’ alleged illegal acts contravened Sections 8(a); 7 (1) (b)(i); 1 (3) of the Advance Fee Fraud and Other Related Offences Act 2006and were punishable under Sections 1 (3) and 7 (2)(b) of the same Act.

    Both defendants pleaded not guilty.

    Their counsel, J. O. Oladeji, applied for their bail.

    But Animasaun opposed him, arguing that they could flee.

    He alleged in his counter-affidavit to the bail application that the Accountant committed perjury (to lie on oath) in securing another international passport in order to escape prosecution.

    According to him, the accountant told the Nigeria Immigration Services (NIS) that she lost her travel passport whereas the passport was with the police as part of her administrative bail conditions.

    When the case came up for ruling yesterday, Justice Aluko agreed with the prosecutor’s submission.

    He held that there was a high possibility that first defendant, Omafume, if granted bail, would flee.

    The judge granted bail to the second defendant in the sum of N500 million with two sureties in like sum, among other terms.

    Justice Aluko ordered that the case file be returned to the Administrative Judge for reassignment.

    He remanded the accountant in Nigerian Correctional Services (NCoS) custody till the determination of the charges.

    He also remanded her mother in correctional services custody till the perfection of the bail terms.

  • Accountant, sales assistant face N2.3m theft charge

    An accountant, Samson Adejoh, and a sales assistant, Chisom Uzor, have been arraigned at an Ikeja Chief Magistrates’ Court for allegedly stealing N2.3 million.

    They pleaded not guilty.

    Prosecuting Inspector Christopher John said the defendants committed the offence at Mouka Foam Nigeria Ltd., Alagbado, Lagos, on January 1.

    He alleged that the fraud was discovered when the company’s books were audited.

    “The duo stole the money and failed to remit N2.3 million into the company’s account.

    “All fingers pointed at the defendants because they were in charge of the company’s accounts and sales,” the prosecutor alleged.

    Chief Magistrate P. E. Nwaka granted the defendants N300,000 bail with two sureties each in the like sum.

    The case continues on April 4.

  • Court restrains FIRS from excluding chartered accountants from tax practice

    The Federal High Court in Lagos has restrained the Federal Inland Revenue Service (FIRS) from implementing the decision to exclude chartered accountants from tax practice with effect from January 2, 2019.
    Justice Ayokunle Faji ordered FIRS not to take any steps that will prejudice the case.
    He made the order during proceedings on December 10.
    Chief Afolabi Igbaroola, Alhaji Ademola Ogunsesan, Deacon Timothy Ishola, Deacon Gbenga Afolabi and Mr Biodun Adedeji sued for themselves and on behalf of licensed and concerned members of the Institute of Chartered Accountants of Nigeria (ICAN).
    They filed the suit through their lawyer Olaniyi George in September.
    Justice Faji made the order following an undertaking by FIRS lawyer Olomu Agbodo, who said the Service is a responsible organisation and would not violate a court order.
    He noted that once the matter is before a court, it is subjudice.
    Justice Faji accepted the undertaking in lieu of an order of injunction. 
    He said: “Counsel has indicated that the first defendant will not carry out any act that will undermine the res and will not prejudice the determination of this suit.
    “That, to my mind, is an undertaking not to prejudice the res. That undertaking is accepted in lieu of an order of injunction.”
    Warning against violating the undertaking, the judge added: “A breach of the undertaking is of the same same effect as a breach of an order of injunction.”
    In effect, ICAN members who are into tax practice can continue to do so until the suit is determined.
    Justice Faji adjourned until January 16.

  • Accountant releases debut single 

    An accountant-turn gospel minstrel, Toyin Grace, also known as Teegrace has released her debut album titled Redeemer. The event took place at The Redeemers Christian Church of God, Lekki, Lagos.

    The soul-lifting dynamic nine-tracker has been produced by one of Nigeria’s finest music producers, Wole Oni. The album features blessing Irorere, Reigny Franklin, Nene Ukpo, Joy Obiekwu, Clifford Hnery, Melody Gabriel, Philladephia kes and Annie Jonathan.

    Speaking at the launch, Teegrace said: “I ventures into gospel music because God has called me to minister to my world, the message of repentance and reconciling men to God.”

    The artiste who said that her entry into the music industry is with a difference, added, “I am not an artiste but a minstrel. I am sent to save souls, restore backsliders, heal and deliver the oppressed from the shackles of the enemy.”

    She stressed that gospel music has the intrinsic power to change the world. “No matter the challenges faced by man, gospel music sang by men who are redeemed can do wonders that will shake the world.

    “I took a number of risks with this album and during the process l learnt to appreciate other different genre of music that I would have never thought I would enjoy or see myself doing,” she said.

    Teegrace opined that it is often easy to get discouraged, but, when we focus on God’s direction and plans for our life, we can overcome the urge to flee His plan.

    She added that to get the attention of our youth, our music must be danceable and enriching with soul-lifting lyric.

  • Driver kills woman accountant in suspected rape bid

    A company driver, identified as Abiodun Idowu, 40, has allegedly killed a female worker, Ms Abimbola Hamzat, during an alleged attempt to forcefully sleep with her.

    The incident was said to have occurred on May 29 in a pure and table water factory at the Onipanu corridor of Ota, the industrial town in Ado-Odo-Ota Local Government Area of Ogun State.

    Ms Hamzat, 38, was the accountant of the water-packaging factory.

    It was learnt that Idowu, who had been labouring to woo the lady for romantic affairs without success, resumed work on the fateful day and met her alone in the factory.

    The suspect allegedly pounced on the unsuspecting lady in an attempt to overpower her and have his way.

    Ms Hamzat reportedly struggled to free herself from him but Idowu strangled her to death in the attempt to force her to the ground.

    It was learnt that the suspect attempted to drink a mixture of Izal liquid disinfectant and Hypo bleach.

    The concoction knocked him out.

    Detectives, who were there to arrest him, found him unconscious and rushed him to a hospital, where he was revived.

    In a statement yesterday in Abeokuta, the state capital, police spokesman Abimbola Oyeyemi, an Assistant Superintendent of Police (ASP), said the suspected was arrested following a complaint lodged by the owner of the factory, Owolabi Moses.

    The businessman was said to have reported the incident at the Onipanu Division of the Ogun State Police Command.

    The statement said: “The arrest of the suspect followed a complaint by Owolabi Moses, who reported at Onipanu divisional headquarters, that the suspect, who is a driver in his pure water factory, had been disturbing the deceased, who was an accountant in the same factory, for a love affair of which the deceased had been refusing his advances.

    “He stated that on that fateful day, the deceased was alone in the factory when the suspect came in and attempted to forcefully have carnal knowledge of her. While the victim was struggling with him, he strangled her to death.

    “On the strength of the report, the Divisional Police Officer (DPO) for Onipanu Division, Sangobiyi Johnson, led detectives to the scene where they met the suspect unconscious. Investigation revealed that the suspect, having realised that he had committed a serious crime, attempted to kill himself by drinking Hypo and Izal.

     

  • Accountant bags 14 years for N3.1m theft

    An Ikeja High Court, Lagos yesterday sentenced a former Chief Accountant with Vanguard Media Limited, Yisa Bhadmus, to 14 years imprisonment for conspiracy and stealing N3.1million.

    Justice Oluwatoyin Ipaye yesterday found Bhadmus guilty of conspiracy and stealing brought against him by the Economic and Financial Crimes Commission (EFCC).

    The judge sentenced him to seven years each on three counts of conspiracy and stealing which will run concurrently.

    The convict was also sentenced to another seven years on a separate count of conspiracy, making a total of 14 years.

    Bhadmus and the Owerri, Imo State circulation officer of the company Samuel Ogbole, who is at large, were accused of stealing the money, property of Vanguard Media.

    He pleaded not guilty to the eight-count amended charge during his arraignment on October 21, 2013

    Justice Ipaye, however, found Bhadmus guilty of four counts of conspiracy to steal and stealing, but held that the prosecution failed to prove beyond reasonable doubt, the counts of conspiracy to forge bank documents and forgery.

    She held that the defendants stole the proceeds of sales of Vanguard Newspapers in Owerri from 2006-2008 through forged tellers numbering about 68, which were not remitted to the company’s bank account.

    The court also noted that the facts presented by the prosecution were not challenged by the defendant.

    It found as farfetched Bhadmus’ claim to the police that the money lodged in his account by Ogbole was the proceeds of the fish from his fish farm he (Ogbole) helped him to sell in Owerri.

    The judge held: “I have no doubt that the prosecution has proved the case of stealing beyond reasonable doubt. I have no doubts that Vanguard dispatched newspapers to Owerri, which proceeds supposed to be remitted to the company’s account, following which the out station manager needs to file weekly sales proceeds to the head office.

    “But this was not done; instead, he was sending money into the account of the accountant. The money paid to the personal account of the accountant represented the proceeds of newspapers sold in Owerri; I therefore resolve the issue of stealing in favour of the prosecution.

    “The statement of the defendant before the police showed it all. It is too farfetched to be believed. There is no fact to support his (Bhadmus) story that he sold fish. The testimony is unreliable. The money paid into the defendant’s account is the proceeds of the newspapers sold.

    “There was no evidence that services were rendered by the defendant to warrant the lodgment by Samuel Ogbole, the Owerri circulation manager into his bank account. All the lodgments, 68 in number, did not reflect in the company’s statement of account. The tellers sent to the head office and the signatures were forged.”

     

  • NSE expels stockbrokers, accountant over ‘fraud’

    NSE expels stockbrokers, accountant over ‘fraud’

    The Council of the Nigerian Stock Exchange (NSE) has kicked out three stockbrokers and an accountant for fraudulent sale of client’s shares.
    They are Mr. Taju Folaji, Mr. Ichie Mike Ejezie and Mr. Segun Adebayo Adams. The accountant is Mr. Olorunfemi Ayorinde. He could be reported to the Institute of Chartered Accountants of Nigeria (ICAN) for further disciplinary action, according to a source.
    This brings the number of stockbrokers expelled so far this year to seven.
    A document obtained by The Nation at the weekend indicated that the Disciplinary Committee of the NSE, indicted the affected for shares fraud.
    The stockbrokers, who were members and authorised dealers on the Exchange, were stripped of their registration and authority to trade on the NSE for selling shares belonging to their clients without the mandate and consent of the clients.
    Also, the accountant, who was in a stockbroking firm, was blacklisted from carrying out capital market activities with dealing member firms of the Exchange for engaging in “unauthorised transfer and sales of clients’ shares”.
    The stockbrokers would also be subjected to further disciplinary procedures by the Chartered Institute of Stockbrokers (CIS) and the Securities and Exchange Commission (SEC), two institutions that also share jurisdictions on ethics, discipline and compliance at the capital market.
    The NSE had earlier this year expelled three stockbrokers – Mr Ayokunle Oyedeji, Mr Abioye Eluwole and Mr Gregory Otsu for a similar offence.
    “Dealing members are strongly advised not to engage in any activity with the above listed individuals,” the NSE stated in a circular on the expulsion.
    With the expulsion, the indicted stockbrokers and accountant will also not be able to work in any stockbroking and investment firms in Nigeria, according to Rule Six, subsection 12 of the NSE Rules.
    Under the rule known as “Specific Actions Requiring Prior Consent of The Exchange”, a dealing member shall not be allowed to employ some categories of persons without the prior written consent of the NSE.
    These include directors, authorised clerks or other persons including principal officers, such as the chief executive officer, chief finance officer, chief compliance officer and chief risk officer, who have been indicted by the NSE or Securities and Exchange Commission (SEC).
    Others include any person who was an officer or employee of a dealing member expelled from the Exchange, any person expelled, as an authorised clerk or its equivalent, from any other Exchange, any person refused admission as a member of the Chartered Institute of Stockbrokers (CIS), or any person expelled from its membership, any person expelled as a member of any professional association or institute and any person who is insolvent or has been convicted of theft, fraud, forgery, or any other crime involving dishonesty.
    The Exchange had recently started the implementation of newly amended rules aimed at tightening the noose on unauthorised sale and transfer of shares by unscrupulous stockbroking firms and traders.
    Under the amended rules, it could withdraw the dealing licence of any erring stockbroking firm and trader as well as impose fines not less than N1 million on any offender.
    According to the rule, no dealing member shall sell or transfer any securities without the authorisation of the owner.
    “A dealing member that has sold or transferred any securities without the authorisation of the owner shall not be permitted to keep any benefits accruing from such transaction, including but not limited to bonuses, rights, commissions, cash dividends, capital appreciation, and any profit accruing therefrom whatsoever,” the rule stated.
    Any dealing member that sells or transfers securities without the authorisation of the owner shall be required to buy back the securities along with any accrued benefits within a period of 14 business days.
    Besides, where the unauthorised sale transaction is worth N5 million and below in value, the erring stockbroking firm will be liable to pay a fine of N1 million or three times the value of the sale or transfer, whichever is higher, and N5,000 for every day from the day on which the dealing member is required to buy back the securities by the Exchange until the day the dealing member completes buying back the shares for the owner.
    Also, NSE has also started implementing its “naming and shaming” rule, which empowers the Exchange to notify the public of suspensions and expulsions of any stockbroking firm.
    According to the rule, it shall have power to publish in the local newspapers or circulars to dealing members and other members of the Exchange, the name of any member expelled or suspended by the Exchange, or any authorized clerk whose registration has been revoked by the Exchange, and also to publish such expulsion, suspension or revocation in any other way it may deem fit.

  • N338m bribe: EFCC grills Govt House accountant

    N338m bribe: EFCC grills Govt House accountant

    The Economic and Financial Crimes Commission(EFCC) yesterday confirmed that it has grilled and  detained the Accountant of Gombe State Government House, Mr. Mohammed Balbaya over the N338million campaign fund sent to the state.

    But both Senator Kumo Saidu Umar and ex- Chairman of the Peoples Democratic Party  in Gombe State, Paloma Nuhu have refundedN4million( N2 million each) which they claimed to be their personal benefits from the fund.

    Also, the EFCC has also invited a former envoy  to the United States, Ambassador Hassan Adamu over campaign fund allocated to the state from a N23.29billion made available by ex-Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.

    The ex-Ambassador will interact with the EFCC on June 16.

    A top EFCC source said the Government House Accountant was interrogated yesterday over his role in the N338million campaign fund sent to the state.

    The source said: “He told investigators that he collected the sum in cash from an official of Fidelity Bank in the state based on the directive of Senator Kumo Saidu Umar.

    “He said that he contacted the Permanent Secretary and Principal Private Secretary to the governor of the state, Dr. Sani Jauro who directed him to share the money to the beneficiaries. He denied deriving personal benefit from the process.

    But the source said the Accountant  had “not shown who the beneficiaries were and the amount individual or group collected from him.”

    “Meanwhile, Senator Kumo and the state former Peoples Democratic Party chairman, Paloma Nuhu have through bank drafts refunded N2million each which they claimed to be their personal benefits from the fund.

    “The said amount came from the sum of N110million which both signed and collected from Fidelity Bank for their state. However, Senator Kumo could not account for the balance of N106million as of the time of filing this report.

    In another development, the Adamawa Peoples Democratic Party chairman, Mr. Joel Madaki, has opened up to the EFCC on how the N450million campaign fund allocated to the state was shared.

    Madaki said the fund was distributed by the former Acting Governor of the state, Barrister Bala James Ngilari  in a signed statement to the Economic and Financial Crimes Commission in Gombe.

    According to the EFCC, “the PDP chair also admitted in the same statement that he was, in conjunction with Ambassador Hassan Adamu, a signatory to the document authorizing the release of the money by the officials of Fidelity Bank in Yola.

    “He however said he immediately gave the money to the former acting governor of the state for disbursement to the beneficiaries as envisaged by the donor.

    ‘I did not know how Ngilari distributed the money,” Madaki added.

    But the PDP chair was  still a guest of the commission as at press time.

    The commission also said a former envoy to the US, Ambassador Hassan Adamu is “expected to report and explain his role in the campaign fund on the 16 June.”

     

  • I took N100m to Suswam, says accountant

    I took N100m to Suswam, says accountant

    The Justice Kpojime Commission of Enquiry in Makurdi has heard how millions of naira were taken to Benue State ex-Governor Gabriel Suswam at the Governor’s Lodge in Makurdi, from the Ministry of Finance, without following due process.

    The Government House Accountant, Mrs. Janet Aluga, told the commission that the Permanent Secretary, Ministry of Finance, Mrs. Ruth Ijir, on April 10 called her to go and collect N100 million from a bank for Suswam, which she did.

    She said the permanent secretary asked her to deliver the money to the former governor, who stayed in one of the governor’s lodges, adding that after she collected the money, she handed it over to Suswam in the presence of the cashier, Peter Ochoga and Emmanuel Aorga, now retired.

    Mrs. Aluga explained that usually, after approval of request from the government, monies were taken to the Permanent Secretary, Government House Administration, but in this case, there was a directive from the permanent secretary to give the cash to the governor.

    The accountant said there were two ways the Government House used to receive money for expenditure, approvals and security votes from the Ministry of Finance or Bureau of Internal Affairs.

    The witness admitted that the money she and her team gave Suswam was not acknowledged.

    Another witness, Mr. Peter Ochoga, the Government House cashier from 2009 to date, confirmed that he received N50 million from James Agera of the Ministry of Finance and another N150 million from Zenith Bank, Makurdi and gave the money to the accountant, Government House.

    He said they drove to one of the governor’s lodges and the accountant, Mrs. Aluga, entered the money and handed it over to ex-Governor Suswam.

    The accountant of the Bureau of Internal Affairs from 2008 to May this year confirmed that she received N200 million from the Finance Ministry on behalf of the bureau on June 11, 2010, and handed it over to the then Permanent Secretary, Mr. Hinga Biem.

    She said she did not know the purpose of the money.

     

  • Accountant, lawmaker among Hajj victims

    Accountant, lawmaker among Hajj victims

    •President orders census of Nigerians

    President Muhammadu Buhari yesterday ordered the National Hajj Commission (NAHCON) and the Nigerian Embassy in Saudi Arabia to urgently account for all Nigerian pilgrims in the aftermath of last Thursday’s disaster at Mina.

    The presidential directive followed conflicting reports on the number of Nigerians who died or got injured in the catastrophe, which claimed 769 lives as at the last count.

    The Hajj Commission on Sunday night said 54 Nigerians had been confirmed dead. But many others are still missing.

    It emerged yesterday that more high profile persons died in the stampede, with the announcement that Niger State lost its Accountant General, Alhaji Shehu Kontagora. A member of the Katsina State House of Assembly, Mr. Faisal Musa, also died.

    A statement by the Senior Special Adviser on Media and Publicity, Mallam Garba Shehu, said the president was very concerned that days after the unfortunate incident, some Nigerian families are still grappling with painful uncertainty over the fate of their relatives who travelled to Saudi Arabia for this year’s Hajj.

    He expected the National Hajj Commission to work with the various state pilgrim boards, Islamic organisations and private travel agencies involved in hajj operations to speedily provide a confirmed and verifiable report on the status of every Nigerian pilgrim in Saudi Arabia.

    The President also directed the Hajj Commission, the Ministry of Foreign Affairs and the Nigerian Embassy in Saudi Arabia to assist Nigerians who are still receiving treatment for injuries suffered in Mina.

    Katsina State Governor Bello Masari yesterday condoled with the family of Faisal Musa,the state lawmaker who died in the Makkah stampede. The deceased represented Jibia Constituency.

    Masari, who visited the deceased’s family in Jibia in company of the Deputy Governor,, Alhaji Mannir Yakubu, prayed Allah to forgive his sins and grant him eternal rest.

    He also prayed for the family to have the fortitude to bear the loss.

    The governor said that the government had directed the Pilgrims Welfare Board to get the exact number of Katsina citizens who were affected by the incident.

    Apart from the accountant general, the Niger State Deputy Amirul Hajj (leader of delegation), Mr. Abubakar Isa, also died in the tradedy.

    The news was received from Mecca on Sunday evening.

    When The Nation visited the Niger State Pilgrims Welfare Commission in Minna, an official said they were yet to ascertain the number of people missing. He said the figure was not less than 10.

    Niger State Acting Governor Mohammed Ketso has also visited the families of the deceased to commiserate with them.

    The fidau prayer (prayers offered for the repose of the departed by Muslims) was held for Isa in Bida town yesterday, with members of his family, friends and relations in attendance.

    President of the Court of Appeal, Justice Zainab Bulkachuwa has expressed shock on the death of two justices of the court in the stampede.

    A statement signed by Mrs Sa’adatu Musa, Media and Publicity Officer, Court of Appeal, listed the dead justices as  Abubakar Jega and M.H. Alkali of Abuja and Ilorin divisions.

    It said the President described their sudden passage as “huge losses not only to the judiciary but to the entire country’’.

    Justice Bulkachuwa said the two justices had never been found wanting in the discharge of their responsibilities, adding that they were highly principled on the bench.

    “Justice Zainab on behalf of the justices and the entire staff of the Court of Appeal prayed Almighty Allah to grant the souls of the departed jurists Aljannah Firdausi.

    “She also prayed that God should grant their families the fortitude to bear the irreparable losses,’’ the statement said.

    Also yesterday, the Nigeria Labour Congress (NLC) called for a thorough investigation into the two major incidents that led to fatalities during the 2015 Hajj in Saudi Arabia.

    NLC President Ayuba Wabba, commiserating with the families of the 767 Muslim faithful who died in a stampede on the way to Jamrat Complex (stoning site) in Mina, said:

    “In order for transparency and re-assurance, we urge that countries whose citizens perished in the two incidents be made members of the body of inquiry.

    “But, most importantly, perhaps, time has come for the Saudi authorities to review their crowd control management techniques and administration of the Hajj generally.

    “Our special condolences go to the families and loved ones of 54 Nigerians who were among the dead. We pray for the repose and admission of their souls to heaven.

    “As painful as this incident is, we believe it is predestined. Accordingly, the victims should be seen as martyrs who gave up their lives in worship,” Wabba said in the statement.

    He advised that the 805 injured among whom were 61 Nigerians, be given urgent and best medical attention.

    He acknowledged that managing a mammoth crowd, sometimes in excess of two million people during every annual pilgrimage was no mean task, for which the Saudi authorities deserve commendation.

    The NLC President, however, noted with over 1,200 deaths, including those who died in the crane collapse, the 2015 Hajj ranked among the most eventful in recorded history of Hajj.

    “We are shocked and completely at a loss by the extent of the losses this year.

    “That is why we are calling for a thorough investigation of the two major incidents that led to these deaths, ” Wabba added.