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Tag: fraud

  • Car dealer faces N1.2m fraud charge

    A 36-year-old car dealer, Kabiru Adalemo , who allegedly duped a customer of N1.2million was on Friday arraigned in an Ikeja Magistrates’ Court .

    Adalemo, who resides at Adetola Street, Ijaye, a suburb of Lagos, pleaded not guilty to the two-count charge of stealing and obtaining money by false pretence preferred against him.

    The prosecutor, Sgt. Yomi Egunjobi, told the court that the offences were committed sometime in 2015 at Ijaye, Ojokoro, Lagos.

    Egunjobi said the accused collected N1.2 million from the complainant, Mr Abiola Lasisi, on the pretext of getting him a car of his choice, which he never did.

    The prosecutor said that the accused also refused to refund the money to Lasisi when it was demanded.

    Adalemo, he added, later started avoiding Lasisi while all efforts to trace him failed until he was recently sighted by the complainant who effected his arrest through the police.

    The offences, Egunjobi said, contravened Sections 285 and 312 of the Criminal Law of Lagos State, 2015.

    The News Agency of Nigeria (NAN) reports that Section 285 prescribes three years jail term for stealing, while Section 312 stipulates 15 years for fraud.

    The Magistrate, Mrs M. O. Osinbajo, in her ruling, granted the accused N500,000 bail with two sureties in like sum.

    Osinbajo adjourned the case till May 15 for mention.

  • Prisoner bags 170 years jail term for N 12.3m fraud

    Prisoner bags 170 years jail term for N 12.3m fraud

    A prison inmate was yesterday at a Lagos State High Court sentenced to 170 years imprisonment for defrauding a bank manager of N12.3million.
    He will, however, spend 18 years as the sentences will run concurrently.
    The Economic and Financial Crime Commissions (EFCC) arraigned Ikechuwu Ogbu and Ibebugbu Chuks before Justice Lateefa Okunnu on June 10, 2011 for obtaining money by false and stealing.
    The EFCC said the defendants orchestrated and defrauded Patrick Edet Chukwu, a branch Manager of Bank PHB now Keystone Bank, of N12.3 million under false pretences while serving a jail term in Kirikiri for another fraud related offence.
    Delivering judgment yesterday, Justice Okunnu found Ogbu guilty of all the charges against him.
    The judge discharged Chuks, saying the prosecutor failed to prove the charges against him beyond reasonable doubt.
    She said there was nothing to show that he knew anything about the money sent to his account.
    “I am of the view that the prosecution failed to prove his case against the second defendant because there was no direct evidence against him,” the judge held.
    Justice Okunnu sentenced Ogbu to 18 years imprisonment on counts two to 10 and eight years on count one.
    The judge blamed the Maximum Security Prison officials for aiding the prisoner to open a bank account and permitting him to wear mufti.
    She pointed out that the convict was allowed to use several mobile phones to call the complainant in order to defraud him.
    The judge said: “According to the witness statements of the EFCC operatives and the evidence before the court, I believe that the first defendant had on various occasions collected about N12 million from the complainant.”
    The defendant’s counsel Olanrewaju Ajanaku, pleaded with the court to temper justice with mercy, saying his client is now remorseful.
    Ajanaku added: “My Lord, the defendant’s wife died two years ago, I pray my lord to temper justice with mercy.”
    EFCC counsel Nnaemeka Omewa said: “The defendant had just spent just two years of his serving term and he committed another heinous crime. How much more would he commit if he is allowed to live in the society.  I urge my Lord to pass the maximum judgement on the defendant”.

  • EFCC: Jonathan’s wife paid N2.1b into account in two years

    EFCC: Jonathan’s wife paid N2.1b into account in two years

    The Economic and Financial Crimes Commission (EFCC) told the Federal High Court in Lagos Wednesday that wife of former President Goodluck Jonathan, Patience, allegedly paid $6,791,599.64 (about N2,150,378,386.32) into her account between February 8, 2013 and January 30, 2015.

    It said the money, which she allegedly directed her aides to pay into her account while her husband was President, was suspected to be proceeds of unlawful activities.

    EFCC said Mrs Jonathan had earlier spent $949,282.98 (about N296,141,911) from the money.

    The commission said she also withdrew another N100,000 from the account this month, leaving a balance of $5,731,173.55.

    It prayed the court to order the temporary forfeiture of the remaining sum to prevent her from further dissipating it.

    Justice Mojisola Olatoregun granted the order as prayed based on an ex-parte application by the EFCC.

    The commission said it found the money in an account numbered 2110001712 with Skye Bank Plc in Mrs Jonathan’s name.

    The judge also ordered the forfeiture N2,421,953,522.78 found in an Ecobank Nigeria Ltd account numbered 2022000760 in the name of La Wari Furniture and Baths Ltd.

    The commission said the money is also linked to Mrs Jonathan.

    EFCC said the sums were “reasonably suspected to be proceeds of unlawful activities”.

    Justice Olatoregun directed the EFCC to publish the interim order in a newspaper.

    It is for the respondents or anyone who is interested in the property sought to be forfeited to appear before the court within 14 days to “show cause” as to why a final order of forfeiture should not be made in favour of the Federal Government.

    EFCC’s counsel Rotimi Oyedepo said the application was based on Section 17 of the Advance Fee Fraud and other Related Offences Act 2006.

    In an affidavit in support of the ex parte originating summons, an EFCC operative, Musbahu Yahaha Abubakar, said he was a member of a Special Task Force Team assigned to investigate the case.

    He said the commission received an intelligence report that funds suspected to proceeds of crime were “warehoused” in the accounts.

    “The intelligence was analysed and found worthy of investigation,” Abubakar said.

    He said Mrs Jonathan opened the Skye Bank account on February 7, 2013.

    “Upon the opening of the account, several huge cash deposits in dollars were made to the account.

    “One Dudafa Waripamo Owei who was the Senior Special Assistant to the former President was one of the frequent depositors in the account.

    “Another frequent cash depositor of funds reasonably suspected to be proceeds of unlawful activities into the account is one Festus Iyoha, a steward at the State House, Abuja,” the deponent said.

    The EFCC investigator said Iyoha also made deposits with fictitious names.

    Abubakar said between February 8, 2013 and January 30, 2015, $6,791,599.64 suspected to be proceeds of unlawful activities was deposited into the account in cash.

    He said Mrs Jonathan had dissipated part of the funds, leaving a balance of $5,731,173.55.

    “If this fund is not forfeited in the interim, the operator of the account, Mrs Dame Patience Jonathan, will fully dissipate it.

    “She made cash withdrawal of $100,000 on the 7th of April, 2017 from the account after obtaining court order in suit No FHC/L/CS/1343/16 on the ground that she was not made a party to the suit,” the investigator said.

    On the N2.4billion, the operative said the commission also traced the money to the Ecobank account following suspicions that it was a proceed of crime.

    He said the “purported” signatory to the account was one Ada Ifegbu, with a telephone number belonging to one Esther Oba.

    The EFCC operative said the N2.4billion “were substantially the naira equivalent of the United States Dollars given to one Chima Nwafor John of Ecobank Nigeria Ltd by one Esther Oba at the Aso Rock Villa.”

    He said it was John who contracted bureau de change operators to convert the money to naira and deposit it to La Wari Furniture and Baths Ltd’s account.

    Abubakar said the dollars which were subsequently converted to naira and deposited in the firm’s account were all received in cash by John.

    The operative added: “The various deposits by Chima Nwafor John through the bureau de change operators were placed on fixed deposit.

    “The sum of N2,033,196,721.31 reasonably suspected to be proceeds of unlawful activities is currently on fixed deposit in La Wari Furniture’s account.

    “Apart from the fixed amount, the sum of N388,751,801.47 reasonably suspected to be proceed of unlawful activities is currently standing to the credit of La Wari Furniture and Baths Ltd’s account.

    “It is in the interest of justice to, in the interim, make an order of forfeiture to the Federal Government of Nigeria and allow any person who has interest in the properties sought to be forfeited to appear before this Honourable Court within 14 days to show cause why the properties reasonably suspected by the applicant to be proceeds of unlawful activities should not be forfeited to the Federal Government of Nigeria.

    “It is in the interest of justice to grant this application.”

    Ruling, Justice Olatoregun said: “Application is granted as prayed.”

    This is coming a day EFCC withdrew its application for a stay of execution of a judgment which unfreezed the account.

    The EFCC freezed the account last year.

    Justice Mojisola Olatoregun on April 6 unfreezed the account after Mrs. Jonathan’s lawyer, Ifedayo Adedipe (SAN), argued that her client was not a party to suit.

    Dissatisfied with the order, EFCC filed an application for stay of execution but withdrew it on Monday.

    Justice Olatoregun adjourned until May 15.

     

  • ‘Greedy brokers behind capital market fraud’

    ‘Greedy brokers behind capital market fraud’

    Mr. Emeka Madubuike is the immediate past Chairman of the Association of Stockbroking House. In this interview with Bukola Aroloye he speaks on the challenges facing the capital market, the effects of the recession on the market and measures the Association has put in place to checkmate fraudulent practices among stockbrokers. Excerpts:

    Banks recently had their AGMs and all of them declared profits. In views of the current recession, do you think banks really could have made profits they claimed they made?

    Have they been declaring losses? Banks always declare profits; nobody was expecting they would do a loss. If you are in financial services, chances are that whether there is recession or not, the worst thing that might happen is that volume of service may reduce but you will make profits.

    Does it mean financial sector is the only hope Nigeria economy has to get out of the recession?

    I don’t think it can be taking from that angle. The fact is that the financial system is just a component of the entire economy so if the economy is challenged, the financial sector will not be left out. We have a challenged economy because we are a commodity country, we are exporters and our level of production is very low. Unfortunately we ran into the decline in oil prices. The financial system especially the capital market is tied to the economy. If the economy is challenged, the market will also be challenged.

    Would the demutisation of the Nigeria Stock Exchange affect the Exchange?

    You need to understand that the stock exchange is a neutral company. It doesn’t have shares, it is a company that guarantee and is limited liability and have members who are stockbroking firms.

    Is it the right step in the right direction?

    Yes, because that is where the whole world is heading to. We are looking at the exchange that is right now closed but if you open up the exchange, it will bring more confidence and everybody will be part of it.

    Some years ago, Nigeria went into meltdown. We also later experienced recession and since then, investors’ confidence has come down. How will this bring back investors’ confidence?

    The 2008 phenomenon was a worldwide phenomenon. So many other countries have recovered but the question is why has Nigeria not recovered? This is because there is no linkage between the capital market and the economy. Capital market is like the barometer that measures the economy but the linkage is very small if you compared it with the GDP of the country. Whereas in other countries, it is multiplies the economy. Our economy does not develop until the capital market develops. In every country, government is the largest lender so government needs to begin to use the capital market especially in an economy where there is infrastructural challenge.

    We have had foreign investors coming into the market but the kind of foreign investors have are not the type we required. We need foreign direct investors with long term projects. Why is it that Lagos state seems to be the only state doing infrastructural projects? It’s because they are in the capital market. They are able to borrow and have enough funds. There is no magic about it. That connection has to be made. Every single infrastructure requires deposit fundamentally power sector. Now we are not doing up to 4000kilowatts whereas this country needs 30,000kilowatts.

    We have fundamental challenges and the way to get out of it is to boost investors’ confidence but how can you build it when there is no rule of law.  Everybody sees it. It is because there is no consistency in policy. If a policy comes up today, they will truncate it and make another policy.  It is a very difficult thing to do business in Nigeria. Who is to blame is not the issue but the fact is that we have challenges so until we get to the point that we get to face this challenges and find solution,  people must say enough is enough.

    In the light of this, do you foresee any hope that the market would bounce back?

    Yes. For instance forex is coming down but can we sustain it. The whole thing boils down to sincerity of purpose whether everybody is doing the correct thing or not. Everything we do has a value chain and there are participants in every chain. If one participant breaks the rule, there is a breakdown unless somebody makes sure the right thing is done. Unless we have that kind of overseer, the breakdown will continue. The capital market is for tomorrow. When people invest, they are not investing for yesterday, they are investing for tomorrow. There is so much uncertainty. For people of faith, there is hope. We have the resources. This country has so many resources that if we get our investment right, we can begin to look at solar power.  We should get a solar plant that can power the whole of Lagos and south west, and the north. We have the money to do it.

    Those sources of money that have gone the other way are enough to improve this country. Nigeria has enough resources to fix this country. In America, there is a system that checks what you do even if you are president but can this country do it?  If you do things correctly, you get good results but if you do differently, you get different results.

    Do you think we have the right people in the economy team to manage this situation?

    It is a general problem. We are all part of the problem. We have not gathered enough momentum to say no when things are going wrong. We must get to a point the majority of us will say no. in South Korea, the people insisted the president must step down. The closest we have gotten to that situation was the 2012 protest. Unless all of us condemned the kind of leaders we have, we can request for change. The voice of the people is the voice of God but unfortunately we have been broken into religious and ethnic groups and when you are in groups, you can’t work together.

    Members of the economic team are Nigerians so they can’t do anything.  You can’t build something on nothing so we need to get our foundations right. The fundamental thing is to do things that are for the common good. We have evolved a system that is broken and is so challenged but unfortunately for us, our economy is where it manifests.

    What measures can be taken to bring back the vibrancy in the capital market?

    If the economy is challenged, the capital market will be challenged. The problem is not that we entered into the recession but what are we doing to get out of the recession. We are doing a lot of advocacy. Recently we have the federal government savings bond and it’s something the capital market is collaborating with government, getting people to invest more. The green bond was also launched. We believe that a lot more people need to get involved. How many Nigerians get involved in the capital market? In countries that we want to be like, 70% of the people gets involved in capital market. The economy needs to begin to produce and that is when you get people involved. If we can refine crude oil in this country, it will get so many people working. But things are designed not to work in this country.

    People must be held accountable for what they had done or what they have failed to do. No country is better than Nigeria but the problem is that we have failed to implement our rules. In other countries, things work there but here it is not so. We can do the right things but it must start from leadership. It will be more structured.

    What is your view about commodity exchange?

    In the last two years, we have been trying to put up commodity exchange. We are making progress. What gives us the confidence is that we believe we have the man power and with a little adjustment, we will be able to make sure the commodity exchange works. Because Nigeria is a commodities country, if we put it right, it will help the agriculture more. We are trying to make sure there is a place commodity products can be sold in transparent manner. We believe there is a future in commodity market. There are still challenges. One of the things commodity requires is to be able to present value. It is one of the biggest challenges people who produce those commodities have.

    If you are a farmer and you produce cassava, how can you preserve this cassava so that we can carry it to London or elsewhere? If you can’t carry it like that, you can do one level processing and preserve it because nobody will buy rubbish from you. There should be quality assurance because outside this country, they will not allow you to bring trash to their country economy. They must make sure the quality is assured. So you must preserve value. We are hoping that we will get there.

    If you are to rate the market, which sector will you say is doing well? Is it the manufacturing, telecom or financial sectors?

    . There is even no telecom in our market. That’s why I said there is dislocation between the market and the economy. We have been pushing that companies like telecom companies be listed on the market.

    Why are they not listed?

    It has to with doing things that are for the common good. In other countries, it is part of the condition for foreign companies that after two years, they must be on the stock exchange. If telecoms are ion the market, they will be able to raise money from the market when they have problems.

    The GENCOS and the DISCOS are not doing well because their major problems is funding. If they come to market and raise money from it, they will have long time projects because the market has discipline. Whatever money you raise form the market is monitored to ensure it is used for the purpose it was raised for. There is process that monitors it.

    As it is now, will you advise Nigerians to have confidence in the market despite recession?

    It is still work in progress but if Nigerians choose not to have confidence in the market, where else will they have confidence. We are the people who must build our country. We must learn to do the right thing. Confidence doesn’t come from the sky. It is something all of us must jointly work together. Every human has tendency to be selfish but your faith can stop you from being selfish.

    What is your take on the rising incidence of fraud in the market?

    In every system, you have people who want to bring the system down but for the system to continue to work there must be ways of holding people back. We have complaint resolution mechanisms that ensure that any stockbroker that breaches the rule is punished. If a broker gets a mandate from his client to sell shares and after selling the shares he fails to pay the money or pay less, if the client report, the broker is in trouble. Our Association of Stockbrokers will call the broker and get him out of the system and give you time to reinstate the client and later pay fine. The rule says whatever you owe the client you pay back three times the value as a penalty. The level of infractions in the market has gone down significantly because those rules are being implemented. If you are going to operate in this market, you must follow rules.

     

  • ‘N5.6b fraud’: EFCC detains ex-Niger Governor Aliyu

    ‘N5.6b fraud’: EFCC detains ex-Niger Governor Aliyu

    Former Niger State Governor Babangida Aliyu is being detained for alleged abuse of office and money laundering.

    The Economic and Financial Crimes Commission (EFCC) invited the former governor on Tuesday to reply to the allegations against him.

    Aliyu is said to be responding to issues isolated for him by a “crack team of investigators”.

    He has been grilled for more than 10 hours by detectives.

    The ongoing probe of the ex-governor has nothing to do with the petition to the EFCC by the Niger State Government on a N2.9 billion loan obtained in the twilight of his tenure.

    A source in the anti-graft commission said: “Specifically, the Chief Servant, as he was called in his days as governor, is alleged to have diverted N2 billion Ecological Funds for political purposes.

    “He is also alleged to have fraudulently sold the state’s stake in North South Power, the holding company for Kainji Dam. About 16 per cent of the state’s 26 per cent shares in the company was sold for N3.6 billion.

    “Of this, N1.090 billion was paid to the Government House and used for the 2015 elections, where Aliyu’s protégé, Nasko, ran unsuccessfully as governor.”

    The source gave the details of the EFCC’s investigation into the alleged mismanagement of the state’s Ecological Funds by the ex-governor.

    The source added: “Three companies were said to have benefited from the heist through contract awards. Among them  a company that is owned by a former government official, which allegedly got a contract for which it was paid N847 million.

    “Of this sum N800m was allegedly given to a former chief of staff who allegedly handed the money to the former governor.”

    A company  owned by a friend to Ibrahim Nasko, younger brother to a former Chief of Staff, Umar Nasko got N487m for a contract.

    “The money was paid to various Bureau de Change,  converted into dollars and handed to the former Chief of Staff( Nasko) who also delivered the money to Babangida Aliyu,” the official said, pleading not to be named because he is not allowed to talk to the press.

    “Secta Plus however executed the contract it received from the    Niger State Government.

    ”He is detained as there are several issues yet to be covered even though he has made useful statement.”

    As at press time, it was gathered that the ex-governor had an outstanding  case based on a petition by the state government on a last-minute N2.9billon loan obtained by his administration.

    The state government had said: “The attention of the Niger State Government has been drawn to the continued denial, in the media, by the officials of the past administration that they obtained a loan of N2.9 billion on the eve of their departure.

    “The government will allow the Economic and Financial Crimes Commission (EFCC) to do its job, as the case was already before it. It is  important to ask some significant questions on the activities of the past administration.

    ”For instance, the government in the statement wondered why would the then Secretary to the State Government (SSG) denied collecting N600 million only to later admit that he collected the sum of N612 million for ‘general’ security during the last senatorial bye-election in the state.

    ”Was the money actually budgeted for, and was it used for the purpose intended? Why were the said funds given to the SSG; was he the Chief Security officer or INEC?”

    ”It is obvious that these government officials have chosen the hard way rather than the easy one, and the hard way they will get,” the government assured.

    Also in August 2015, the  House of Assembly passed a motion directing Governor Abubakar Bello to probe the administration of  Babangida Aliyu.

    The Assembly’s  motion was moved by the member representing Bida II Constituency, Mohammed Haruna.

    The motion listed 22 activities of the past administration that should be investigated.

  • EFCC arrests woman over N45m herbal cure fraud

    Ibadan Zonal office of Economic and Financial Crimes Commission(EFCC), says it has arrested one Aminat Okiribiti for allegedly conspiring with others to defraud a woman  of her money, under false pretence.

    Mr Ayo Oyewole, the EFCC Head of Public Affairs, Ibadan Zonal Office, told the News Agency of Nigeria(NAN) in Ibadan on Thursday that the suspect had engaged in Advance Fee Fraud.

    Oyewole stated that Okiribiti, with others now at large, had allegedly conspired ,using the pretence of providing cure and spiritual solution to health challenges, to defraud the women (name withheld) of a sum of N45 million.

    He said that Aminat, age 34, married to one Wande Okiribiti (47) who is still at large, had confessed to committing the crime.

    He said she had confessed that some of the money obtained from the victim, was collected by her through her bank account in a new generation bank, located in Ibadan.

    Recounting her ordeal, the complainant said that she met Wande (suspect’s husband) sometimes in October 2014 at Utako, Abuja while in search of a cure for the health challenges of her children.

    According to her, “Wande presented himself as a local herb hawker and a spiritualist capable of providing solutions to all problems and lured me into believing he had the cure to my children’s challenges.

    “I subsequently made different payments as advised, totaling N45 million, but became suspicious at the request for funds transfers, which continued without solution to the problem.”

    Oyewole said that the complainant, having suspected foul play, wrote petitioned the commission, necessitating the arrest of the suspect.

    He urged members of the public to be wary of the age-long tactics to avoid falling into the hands of fraudsters.

    Oyewole said that the suspect would be charged to court as soon as investigations were concluded.

     

  • Rubber tapper remanded over fraud

    An Okitipupa Magistrates’ Court in Ondo State, on Wednesday remanded a 25- year-old rubber tapper, Mike Afunaya in prison custody over alleged N450, 000 fraud.

    The Magistrate, Mr Banji Ayeomoni, ordered that the defendant be remanded until March 29 for further investigation, and hearing of bail application.

    The defendant of no fixed address had pleaded not guilty to the two-count charge of advance free fraud and collecting money under false pretence levelled against him.

    The prosecutor, Insp. Zedekiah Orogbemi, had told the court that Afunaya, on Feb. 4, around 9:30 a.m. at No. 2, Ikumawoyi St., Ode-Aye, defrauded one Godfrey Alehen under false pretence of supplying him rubber lumps.

    Orogbemi said that the accused knowing that he would not supply the lumps, absconded after collecting the money until he was apprehended by the police.

    The prosecutor said that the offences were contrary and punishable under Sections 419 and 390 (9), Criminal Code, Cap.37, Vol.1, Laws of Ondo State, 2006.

     

  • Man faces funds transfer fraud charge

    A 37-year-old, Ebube Marvins, who allegedly collected N809, 000 on the pretext of helping a man to transfer to Togo, was on Tuesday brought before an Ado Ekiti Chief Magistrates’ Court.

    The accused, whose address is unknown, is facing a charge of fraud.

    Police Prosecutor Bankole Olasunkanmi told the court that the accused with another man still at large committed the offence on Dec. 9, 2016 in Ado-Ekiti.

    Olasunkanmi said the accused obtained the sum of N809, 000 from the complainant, Mr Ishioku Monday, through electronic transfer and transfer same to an agent in Togo through Western Union Money Transfer.

    “The accused, however, failed to do so after collecting the money.”

    The prosecutor asked for an adjournment to enable him to study the case file and assemble his four witnesses.

    The offence contravened Section 419 of the Criminal Code, Laws of Ekiti State 2012.

    The accused pleaded not guilty to the charge and his counsel, Mr Femi Adejumo, applied for bail in liberal terms, promising he will not jump bail.

    The Chief Magistrate, Mr Idowu  Ayenimo, granted bail to the accused in the sum of N200, 000 with two sureties each in like sum.

    The magistrate adjourned the case until April 21 for hearing.

  • Alleged N1.4b fraud: Fed Govt files charges against Peace Corps’ boss Akor

    Alleged N1.4b fraud: Fed Govt files charges against Peace Corps’ boss Akor

    THE Federal Government has filed a 90-count charge against the leader of a group, Peace Corps of Nigeria (PCN), Dickson Akor and its Incorporated Trustees for sundry offences.

    The offences include alleged money laundering and obtaining under false pretence.

    The charge was filed at the Federal High Court, Abuja on March 17 by the Office of the Attorney General of the Federation (AGF).

    Akor and the group’s Incorporated Trustees are charged with money laundering involving about N1.4 billion.

    Akor and some 46 members of his group were recently arrested and paraded by the police in Abuja on allegations they were operating illegally.

    The charge, it was learnt yesterday, was assigned to Justice Gabriel Kolawole, who is hearing the fundamental rights enforcement suit by Akor and some members of his group against the police.

    In count 1 to 32, Akor and PCN’s Incorporated Trustees are accused of converting money derived directly from extortion, contrary to Section 15(1)(a)(ii) of the Money Laundering (Prohibition) Act 2011 and punishable under the same section of the Act.

    They are, in Count 33 to 42, accused of transferring money derived directly from extortion contrary to Section 15(1)(a)(ii) of the Money Laundering (Prohibition) Act 2011 and punishable under the same section of the Act.

    In Count 43 to 75, they were accused of “obtaining money by false pretence contrary to Section 1(1)(a) of the Advance Fee Fraud and other fraud related offences Act, Cap A6 Laws of the Federation of Nigeria 2004 and punishable under the same section of the Act”.

    They were in Count 76 to 85 accused of “laundering of funds obtained through unlawful activity contrary to Section 7(1) (b) of the Advance Fee Fraud and other fraud related offences Act, Cap A6 Laws of the Federation of Nigeria 2004 and punishable under the same section of the Act”.

    The defendants are, in count 86, accused of “organising and training of members of Peace Corps of Nigeria as quasi-military organisation contrary to Section 6(1)(a) of the Public Order Act, P42 Laws of the Federation of Nigeria 2004 and punishable under the same section of the Act”.

    In Count 87, the defendants are accused of violating “provisions relating to wearing of uniforms contrary to Section 7(4)(a) of the Public Order Act, P42 Laws of the Federation of Nigeria 2004 and punishable under the same section of the Act”.

    They are, in Count 88, charged with “unauthorised display of flags contrary to Section 7(4)(b) of the Public Order Act, P42 Laws of the Federation of Nigeria 2004 and punishable under the same section of the Act”.

    In Count 89, they are charged with “operating as private guard without licence contrary to Section 1(1) of the Private Guard Companies Act, Cap P30 Laws of Federation of Nigeria 2004 and punishable under Section 32(1) of the Act.

    Akor and PCN’s Incorporated Trustees are, in Count 90, charged with “unauthorised wearing of uniforms and other identification marks contrary to Section 24(1) of the Private Guard Companies Act, Cap P30 Laws of Federation of Nigeria 2004 and punishable under Section 32(1) of the Act”.

  • EFCC’s witness fails to attend court in Fani-Kayode’s trial

    EFCC’s witness fails to attend court in Fani-Kayode’s trial

    Plans by the prosecution to open trail in the alleged N26million fraud case against former Aviation Minister, Femi Fani-Kayode failed Tuesday as its prosecution failed to turn up in court.

    The Economic and Financial Crimes Commission (EFCC) commenced the case late last year when it filed a five-count charge against Fani-Kayode before the Federal High Court in Abuja.

    The EFCC accused Fani-Kayode of diverting N26m allegedly received from the Office of the National Security Adviser while Sambo Dsuki was in office.

    It also accused him of handing the N26m without going through financial institution as required under the Money Laundering Act.

    When parties got to court Wednesday, everyone expected the prosecution to open trial by calling its first witness, but prosecuting lawyer, Jonson Ojogbane stunned all when he expressed surprise about his witnesses’ absence.

    Ojogbane told that court that he was surprised that his witnesses did not turn up for the day’s proceedings. He said he had expected to meet them in court, but was surprised the witnesses were nowhere to be found.

    He said in view of the development, he was left with no option than to appeal to the court to grant an adjournment to a later date to enable him investigate what went wrong.

    Ojogbane: “we will investigate. I do not want to speculate why they are not here. I hope it is not what I am afraid of. I had expected to meet them in court today.”

    Defence lawyer, Ahmed Raji, who did not object to Ojogbane’s request for adjournment, said the prosecution’s witnesses failure to attend court might have been because the prosecution failed to make the necessary arrangements.

    He urged the prosecution to do all that were necessary to prevent a repeat of similar development at the next adjourned date.

    Trial judge, Justice John Tsoho adjourned to April 7 for the prosecution to open its vase.