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Tag: Economic and Financial Crimes Commission (EFCC)

Recession: Looters keeping money at home, a factor – Banker

A banker, Mr Sesi Adebiyi, on Thursday, said Nigeria’s economic condition was a consequence of the activities of keeping money meant to be in circulation at home by the looter.

Adebiyi, who is also the General Secretary, Chartered Institute of Bankers of Nigeria (CIBN), Oyo State Branch, said this in an interview with journalists in Ibadan.

He said that must money kept outside the banking circle could be used to reflate the economy and create jobs for the teeming unemployed Nigerians.

The banker, however, applauded the anti-corruption campaign of the Federal Government and urged Nigerians to support it.

He urged the people to stop supporting the voice of corruption from different circles that seemed to be getting louder.

“The economic condition faced by the country is mainly a consequence of the activities of those people keeping money that are supposed to be in the circulation at home which is very unfortunate.

“I have told people that meaningful progress out of the present economic quagmire could be achieved if all the loopholes through which the nation’s common wealth is being siphoned are plugged.

“Such should be plugged on a sustainable basis as being done by President Muhammadu Buhari and his team.

“This will ensure that money released now will not go into the hands of the people frustrating the economic turn-around policy of the present administration,’’ he said.

Adebiyi said that the number of those arrested by the Economic and Financial Crimes Commission (EFCC) and the Department State Security Service (DSS) was just a tip of the iceberg.

“There are still many untouchable people in the country that are in possession of the cash that should be in circulation to run the economy. I believe the EFCC and DSS are still beaming their search light around,’’ he said.

The banker bemoaned the rate at which people kept money in their homes, saying such has negative effects on the economy.

Adebiyi said that according to the concept of demand for money, people kept money at home to meet daily purchase of goods and services, for unforeseen circumstances and to make speculative gains.

He said other notable reasons peculiar to the country was to keep ill-gotten money from the sight or control of monetary regulatory institutions like Central Bank of Nigeria (CBN) and EFCC, among others.

“They keep money here in the country to beat the stipulations of CBN cashless policy, poor banking habits, loss of confidence in the banking sector and to avoid being caught by the Bank Verification Number (BVN) and Treasury Single Account (TSA),” Adebiyi said.

The banker recommended that the only money to be kept at home should be for the purpose of buying fuel, food, transport fares and similar minor expenses whether personal or corporate.

Adebiyi recommended that not more than 10 per cent of the accepted demand for money should be kept at hand, home or anywhere.

He stated that keeping money at home for unnecessary and unacceptable reasons are great leakages from the banking sector.

The banker suggested that the act should be discouraged by the cashless policy of the CBN and outright stoppage of cash settlement with stiff penalties or sanctions for its breach.

He also advised that monies recovered from looters should be released to the economy as soon as all legal technicalities involved are settled.

December 8, 2016
Senate set to screen Magu Thursday

More than five months after his nomination as the Chairman, Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, will Thursday be screened by the Senate for possible confirmation as substantive EFCC chairman.

President Muhammadu Buhari nominated and forwarded the name of Magu to the Senate for consideration and confirmation as EFCC chairman.

Magu has been functioning on acting capacity since his nomination raising fears that some powerful forces in and outside the Senate may be against his confirmation.

The Senate did not help matters as it failed to refer the nominee to any committee for screening as it normally does in other instances.

Findings showed that a principal officer of the upper chamber had been moving round to lobby Senators on the need to screen and confirm Magu.

The principal officer is said to have told his colleagues that it would be better for those who may harbor any misgiving against the confirmation of Magu to play them up during his screening.

Deputy Senate President, Senator Ike Ekweremadu who presided Wednesday, announced that the Senate will hold a “confirmation hearing” for the screening of Magu today.

Although Ekweremadu did not say whether the confirmation hearing will be conducted by the committee on Anti-Corruption, it is expected that the Committee of the Whole, chaired by the Senate President, Abubakar Bukola Saraki, would handle the exercise.

The sensitive nature of the chairmanship of the EFCC is likely to come to play during the screening.

Apart from asking the nominee some penetrating questions bordering on the operations of the anti-graft agency, sources said that the Senate would rely on the security report on Magu submitted to it by relevant security agencies.

If confirmed, Magu would succeed Mr. Ibrahim Lamorde who was removed in November 2015.

December 7, 2016
Frozen $15.5 m: Court adjourns Jonathan’s suit to Jan. 18, 2017

Justice Mohammed Idris of a Federal High Court Lagos, on Wednesday, further adjourned till Jan. 18, 2017, hearing in a suit by ex-first Lady, Patience Jonathan, seeking enforcement of her fundamental rights.

Jonathan had instituted the fundamental rights suit against the Economic and Financial Crimes Commission (EFCC), claiming the sum of 200 million dollars as damages for inconveniences suffered.

In her suit, she also joined Skye bank Plc, and a former aide to ex-president Goodluck Jonathan, Warampo Dudafa as respondents.

Also joined in the suit are four companies namely: Pluto Property Ltd, Seagate Property Development and Investment Company Ltd, Transocean company Ltd and Globus Integrated Service Ltd.

When the case was called on Wednesday, counsel to Jonathan, Mr Ifedayo Adedipe (SAN) informed the court of a motion seeking to regularise his processes before the court.

Justice Idris granted him leave to amend his processes, while the court also granted leave to the EFCC to amend it’s counter affidavit.

The court consequently, fixed Jan. 18, 2017 for the continuation of hearing.

Meanwhile, a similar suit before another judge, Justice Babs Kuewumi has also been fixed for hearing on Dec. 14.

It will be recalled that Dudafa was charged alongside the four companies before Justice Kuewumi, on 15 counts of money laundering.

Representatives of the four companies which the EFCC claimed were used by Dudafa to launder the said sum of money, had all pleaded guilty to the offences.

The said $15.5 million, is the same sum which the former first lady, claims belongs to her as sole signatory to the accounts of the companies.

In her suit, Jonathan is urging the court to issue an order discharging the freezing order, and restraining the EFCC and its agent from further placing a freezing order on the said accounts.

December 7, 2016
Dasuki: Absence of 2nd defendant stalls proceeding, adjourned until Jan. 25

The absence of Salisu Shuaibu, the 2nd defendant and former Director of Finance and Account (DFA) in the Office of the National Security Adviser (NSA) stalled proceedings in Sambo Dasuki’s case at FCT High Court, Maitama, Abuja.

Dasuki, former NSA to former President Goodluck Jonathan, was arraigned before Justice Baba-Yusuf by the Economic and Financial Crimes Commission (EFCC) on a 19-count charge bordering on diversion of about N13.6 billion.

He is being tried alongside Shuaibu Salisu, former DFA in the NSA Office, together with Aminu Baba-Kusa, former NNPC Executive Director.

Also tried were two firms — Acacia Holding Ltd. and Reliance Referral Hospital Ltd.

At the resumed sitting on Wednesday, the prosecuting counsel, Oluwaleke Atolagbe, said he had been served with the medical report of the 2nd defendant confirming that he (Salisu Shuaibu) had been hospitalised.

Atolagbe also told the court that the trial could not proceed in the absence of the second defendant and therefore applied for a short adjournment pending the recovery of the defendant.

Shuaibu’s Counsel, Mr Adetayo Adeyemo, also apologised to the court that his client could not be in court because of illness.

He told Justice Baba-Yusuf that the medical report of his client had already been made available to the court, the prosecution and other parties in the trial.

Counsel to other defendants did not object to the application for an adjournment.

Thereafter, Justice Baba-Yusuf noted that since the charge was filed, the second defendant had always been in court and for that reason, the court is obliged to grant the request for the adjournment.

He then adjourned the trial until Jan. 25.

Meanwhile, the second charge referred from Justice Peter Affen to Justice Baba-Yusuf was similarly adjourned until Jan. 24 for re-arraignment.

Salisu Shuaibu is the 3^rddefendant in that matter also.

In the matter before Justice Peter Affen, Dauski is the second defendant, while Amb. Bashir Yuguda is the first defendant.

Others are Dalhatu Investment Ltd., Sagir Attahiru and Attahiru Bafaarawa, former governor of Sokoto State.

They were arraigned on a 22-count charge bordering on conspiracy, bribery and abuse of office and criminal breach of trust to the tune of N28,315 million.

December 7, 2016
EFCC: Jonathan’s wife’s $15.5m ‘is a proceed of crime’

…Again, women storm court for ex-First Lady

The Economic and Financial Crimes Commission (EFCC) has asked the Federal High Court in Lagos to dismiss a suit by wife of former President Goodluck Jonathan, Patience.

In its counter-affidavit to the suit, the commission said the $15.5 million which Mrs Jonathan claims belongs to her is “a proceed of crime”.

Mrs. Jonathan, in the civil suit before Justice Mohammed Idris, is claiming that EFCC froze four of her accounts with Skye Bank in the name of four companies.

The accounts, she said, have a balance of $15,591,700 (about N5 billion) belonging to her.

But, the companies, on September 15, pleaded guilty and were convicted for laundering the money when they were arraigned in a criminal charge before Justice Babs Kuewumi.

The judge, however, refused to order the money’s forfeiture to the Federal Government until the trial of the others named in the charge was concluded.

The companies are: Pluto Property and Investment Company Ltd (represented by Friday Davis), Seagate Property Development and Investment Company Ltd (represented by Agbor Baro), Trans Ocean Property and Investment Company Ltd (represented by Dioghowori Frederick) and Avalon Global Property Development Ltd (represented by Taiwo Ebenezer).

EFCC arraigned them with a former Special Adviser on Domestic Affairs to President Jonathan, Waripamo Dudafa, a lawyer, Amajuoyi Briggs and a banker, Adedamola Bolodeoku.

Dudafa, Briggs and Bolodeoku pleaded not guilty to the 17-count charge.

Mrs. Jonathan, in the suit before Justice Idris, is seeking an order to de-freeze the accounts and release her money.

Wednesday, her lawyer Adedipe told Justice Idris that his client amended her processes. He said he also filed a motion to regularise them, which the court granted.

EFCC’s lawyer, Oyedepo Rotimi, said he would also amend his response to the suit.

Justice Idris said: “Leave will be granted to the respondent (EFCC) to file any amended process.”

Rotimi accused the applicant of changing the companies’ address through which the suit was purportedly served on them. Mrs Jonathan joined the companies in her suit.

The EFCC lawyer said: “We are of the opinion that if you want to change the address of a party, it should not the adversary who will change the address of another party.

“What we saw was the applicant was changing the address of the other defendants and I don’t think that is tidy.”

Women again stormed the court yesterday in solidarity with Mrs Jonathan. Some of them struggled to gain access to the already-packed courtroom, which became very congested.

Justice Kuewumi had on November 2 refused order the forfeiture of $15.5million after convicting the companies in whose accounts the money is domiciled.

The judge said he would hand down a sentence on the companies after the trial of the others who pleaded not guilty in the charge.

While reviewing the facts, Rotimi said the money was stolen from the State House, Abuja.

He said: “EFCC received an intelligence report showing vividly that the fourth to seventh defendants retained proceeds of crime.

“Our investigations showed that Fetus Iyoha admitted receiving the fund from the first defendant (Dudafa). Iyoha is a domestic staff at the State House. He admitted that funds credited into the accounts were given to him from the State House.”

Rotimi said Iyoha paid $3,096,377.38 into Pluto’s account; paid $3,410,534.71 into Seagate’s account, paid $3,765,711.87 into Trans Oceans’ account, and paid $250,000 into Avalon Global’s account.

Mrs Jonathan claimed she operated the accounts even though they were opened in the companies’ names by Dudafa contrary to her instructions.

She said the bank promised to rectify the issue by changing the names to hers’, but never did so.

Justice Idris adjourned until January 18 for hearing.

Trial in case before Justice Kuewumi will continue on December 14.

December 7, 2016
NEMA cleared of complicity in alleged IDPs relief diversion

The National Emergency Management Agency (NEMA) on Tuesday, was cleared by the Senate Majority Leader, Sen. Ali Ndume of complicity in the alleged diversion of relief materials meant for the Internally Displaced Persons (IDPs) in North-East.

Ndume told journalists in Yola that the Senate could not found any evidence of diversion against the NEMA officials.

“No NEMA members of staff was involved in diversion or stealing of any relief items meant for the IDPs,’’ Ndume said.

He said that the allegation of diversion of relief materials meant for the IDPs in Borno and Yobe was raised by him, adding that the contractor involved was the suspect.

The senate leader said that the contractor had been invited by the Economic and Financial Crimes Commission (EFCC) for interrogation.

“I personally raised the allegation of the said diversion of the relief materials meant for our people (IDPs) living in various camps across the North-East region.

“What actually happened is that grains were ordered from strategic national grains reserves.

“It was awarded to a contractor to transport, but along the line, some got missing. The contractor is now before the EFCC,” he said.

Ndume, who visited some IDPs camps in Yola, said that strong commitment of the government was to shut the camps and return the IDPs back home.

He explained that all the IDPs camps visited were ready to be shut down as all people in various camps had shown enthusiasm to return to their homes.

Also, during the visit, Gov. Muhammadu Jibrillah of Adamawa, said he would join hands with the Borno and Yobe Governments to evacuate the remaining IDPs back home.

Jibrillah said, now that relative peace had returned to most areas, his government would support any move to evacuate the IDPs back home.

He lauded President Muhammadu Buhari for his concerted efforts in reconstructing those areas destroyed by the insurgents.

December 6, 2016
APC rejects Banire’s offer to resign as national legal adviser

The All Progressives Congress (APC) has rejected the offer by its National Legal Adviser, Muiz Banire (SAN) to step aside pending the outcome of the investigation into allegation of alleged corruption by the Economic and Financial Crimes Commission (EFCC).

The party said the offer by Banire to step aside and submit himself to investigation by the anti-graft agency was an exemplary representation of the party.

In a letter to Banire, signed by the National Chairman, Chief John Odigie-Oyegun, the party said that at the National Working Committee of the party resolved to unanimously reject the offer to step aside.

Banire had about three weeks ago written to step down as the party’s National Legal Adviser following an investigation launched by the Economic and Financial Crimes Commission (EFCC), into a gift of N500,000 given to an old friend, who sought his financial assistance to defray part of the burial expenses of his late mother about three years ago.

The letter obtained last night by The Nation said “after intense discussion, the NWC unanimously decided not to accept your offer to step aside as the National Legal Adviser.”

According to the party, the decision to reject the offer to step aside is hinged on the fact that Banire’s offer is “inappropriate since your responsibility as the National Legal Adviser of our party will not, in any way, impede any ongoing investigation by the EFCC, more so, as the allegation has no nexus with the party.

“The party is currently saddled with a number of sensitive litigations and your role in professionally handling the ongoing cases is critical. The NWC is of the view that we keep to the credo of our jurisprudence where an accused is considered innocent until otherwise proven guilty by a competent jurisdiction. In this case you have not even been accused”.

The party however sought for Banire’s understanding of its decision to refuse his offer to resign from the NWC.

December 1, 2016
Appeal Court nullifies Ikuforiji’s acquittal, orders retrial

The Court of Appeal in Lagos has set aside a Federal High Court ruling which acquitted former Lagos State House of Assembly Speaker Adeyemi Ikuforiji and his Personal Assistant Oyebode Atoyebi of money laundering charges.

The appellate court, in a unanimous verdict, set aside Justice Ibrahim Buba’s judgment.

It held that the Economic and Financial Crimes Commission (EFCC) made out a prima facie case against Ikuforiji.

In the lead judgment by Justice Biobela Georgewill, the Court ordered that Ikuforiji’s trial should start de novo (afresh) before another judge.

The justice said: “Regrettably, the court below went on a voyage of its own, discussing cash payment of millions made to the Super Eagles in Brazil, even without any scintilla of evidence before it, instead of remaining focused on the issue at hand.

“I consider many of the issues raised so randomly by the court below as irrelevant and inconsequential to the just determination of the question before it, which is, whether the appellant made out a prima facie case against the respondents or not.

“Very worrisome to me, is the attitude of the court below, considering between the decision of this court and its own decision on which one to follow, even when its attention was called to the decision of this court.

“I find this attitude quite bizarre and not in sync with judicial attitude toward the time honoured doctrine of stare decisis. It is pure rascality, impertinence and disregard for judicial hierarchy in this country.

“In the light of my finding above, I have no difficulty resolving the sole issue for determination in the negative against the respondents in favour of the appellant.

“I hold firmly, therefore, that the appeal has merit and ought to be allowed. The ruling of the lower court is hereby set aside,” Justice Georgewill held.

Justice Buba, in September 2014, upheld Ikuforiji’s no-case submission and held that the prosecution did not prove the allegation.

The judge said EFCC prosecuted Ikuforiji “by trial and error” and that the whole process was “a joke taken too far.’

“It is the considered opinion of this court that the prosecution, on the no-case submission, has no answer and has not made out a prima facie case.

“On other constitutional issues, the prosecution has not also answered the submissions referred to in this ruling. Consequently, the first and second accused be and are hereby discharged,” Justice Buba ruled.

The Speaker and his aide Oyebode Atoyebi were re-arraigned on an amended 21-count charge of money laundering.

They were accused of accepting cash payments amounting to N338.8 million from the House without going through a financial institution.

Justice Buba held that Ikuforiji was charged on mere suspicion of money laundering anchored on a “baseless” petition by Lai Olotu, who “disappeared into thin air” afterwards.

November 30, 2016
Why Fayose’s seized assets cannot be released – EFCC

…Court to hear gov’s motion Dec 19

The Economic and Financial Crimes Commission (EFCC) has given reasons why the six houses seized from Ekiti State Governor, Ayodele Fayose may never be returned to him.

The EFCC said the houses – both in Lagos and Abuja – were seized via a court order issued on July 20 this year while it was investigating the governor in relation to various offences including diversion of public funds.

It said it has, in the cause of investigating Fayose, found that the houses were acquired through third parties, who it has identified and has “proceeded against.”

The commission said the question of whether or not to vacate the July 20 order for the seizure of the house no longer arises as the new owners of the houses have been identified and a new order has been issued against them.

The EFCC said this in its counter affidavit to a motion by Fayose asking a Federal High Court in Abuja to vacate the July 20 order for temporary forfeiture of his houses.

The house include: four units of 4 bedroom at Charlets 3, 4, 6 and 9 Plot 100 Tiamiyi Salvage Victoria Island, Lagos.

Others are: No: 44 Osun Crescent, Maitama, Abuja and Plot 1504 Yedseram Street, Maitama, Abuja.

The EFCC said, in its counter affidavit, that its investigation has revealed that houses were acquired through companies known as J.J. Technical Service, Spotless Investment Limited and one Mrs. Moji Ladeji.

It said at the expiration of the July 20 order given by Justice Nmandi Dimgba (of the Federal High Court, Abuja) for 45, it went before another judge of the court – Justice Okon Abang – for a new order of interim forfeiture granted on November 3 this year.

The EFCC argued that in view of the new interim order of forfeiture, which is to last until the case against the new owners of the properties is concluded, Fayose’s motion now before Justice Dimgba has become an academic exercise.

“An order was made by this court on the 20th of July 2016 for interim attachment/forfeiture of the properties contained in this application for a period of 45 days.

“The order has since lapsed and the respondent, upon further investigation, discovered the names through which the properties were acquired and had to proceed against those names.

“The respondent (EFCC) re-attached the properties and reapplied to this honourable court for fresh order before Honourable Justice Okon Abang, which application was considered and granted.

“An order of interim or forfeiture is meant to preserve the res (subject matter) pending investigation or conclusion of trial.

“It is thus of interest to state that in view of the respondent’s exhibit EFCC1 (a copy of the order by Justice Abang), the order now being sought by the applicant has already been overtaking by time and event.

“The applicant’s (Fayose’s) application is thus, a pure waste of time and an academic exercise, which is based on nothing,” the EFCC said.

The absence of Fayose’s lead lawyer, Mike Ozekhome (SAN) prevented the hearing of the Governor’s application Monday.

Following the agreement of lawyers to both sides to return another day for the hearing, Justice Dimgba adjourned to December 19.

November 28, 2016
One feared dead as FUTA workers protest in Ondo

One person Monday lost his life during a protest by some workers of the Federal University of Technology Akure (FUTA).

The protesters who were said to be members of the Senior Staff Association of Nigerian Universities (SSANU) were demanding the sack of the Vice Chancellor of the University, Prof. Adebiyi Daramola who was alleged of financial impropriety.

Prof Daramola had since September appeared before the Economic and Financial Crimes Commission (EFCC) following a petition which indicted him.

Workers in the institution had protested on several occasions against the retention of the VC, claiming that his services should be suspended pending the conclusion of investigations by the anti-graft agency.

The protesters who converged on the entrance to the Vice Chancellor’s office as early as 7.00 am prevented the VC and his aides from entering the office.

It was learnt that the driver of one of the vehicles in the entourage of the VC hit one of the protesters while making attempt to reverse the vehicle.

He was said to have been rushed to the hospital, but reportedly died few minutes after.

Although the identity of the deceased could not be ascertained as at press time, it was gathered that the deceased was one of the staff of the University Staff secondary school recently sacked by the management of the university.

The incident reportedly triggered violence in the university campus as many individuals joined them to protest against the incident.

However, the Public Relations Officer of the university, Mr. Adegbenro Adebanjo said he was not aware of the development, saying he was out of the university campus as at the time he was called for reaction.

Also, the Police Public Relations Officer (PPRO) for the state Police command, Mr. Femi Joseph said the matter was a vehicular accident, adding that the Police are still investigating the matter.

November 28, 2016