Tag: probes

  • House panel probes alleged import fraud

    House panel probes alleged import fraud

    The House of Representatives Committee on Customs has begun investigations into alleged multi-billion naira fraud committed by some companies through massive breach of importation procedures, leading to huge loss of revenues to the Federation Account.

    Chairman of the committee James Abiodun Faleke, who made this known to reporters yesterday in Abuja, said the committee had invited those companies to come and clear the allegations against them or face the wrath of the law.

    “You recall the House in plenary on December 9, 2017 mandated the committee to investigate these alleged infractions of import procedures leading to monumental loss of revenue to the nation. The committee is determined to carry out a thorough forensic investigation in line with its mandate,” he declared.

    According to the chairman, “the unpatriotic and fraudulent act of some of these companies had cost the nation a lot financially. We are talking of losses probably in trillions of naira that should have accrued to our common purse.”

    The committee chairman said the panel was not on a witch-hunt mission but on an “altruistic, patriotic mission aimed at recovering our collective patrimony from unpatriotic elements and corporate entities”.

    Faleke said letters detailing the alleged infractions had been dispatched to the affected companies for appropriate responses and fair hearing.

    The committee chairman disclosed that the “Investigation Hearing Commences from March 7, 2018 and all the companies invited are expected to appear on the date allotted to them unfailingly or risk sanctions”.

  • Ebonyi probes alleged torture of maid

    Ebonyi State government and Ezza-South Council are probing  the alleged torture of a 12-year-old maid, Faith Nwanja, by Mrs. Nkechinyere Bartholomew.

    The girl alleged that the woman, based in Onitsha, Anambra State, tortured her while working in her home as a maid.

    Faith, an indigene of Okoffia-Ohaji in Ezza-South, told News Agency of Nigeria (NAN) that she became a maid to the woman four years ago.

    She said: “My mistress used blade to cut my skin. She used hot iron and wire to beat me. She tied me with chain when going out.

    “These scars and injuries were results of her torture.”

    The victim’s mother, Mrs. Ngozi Nwanja, said Faith was eight years old when she gave her out to Mrs. Bartholomew, as she promised to take care of her.

    Vice Chairman of the council Mrs. Caro Ewa said the girl was brought to her on February 12 by the Education and Social Welfare unit.

    She said the Chairman, Mr. Sunday Ogodo, ordered the arrest of Bartholomew’s mother and brother “because they shielded the suspect.’’

    Ewa, however, said the two were released by the police, but Mrs. Bartholomew and her sister were detained.

    “No government will support this evil. The injuries on the girl’s body are scary and gory,” she said.

    Mr. Godwin Igwe, head of Child Development, described the injures as frightening.

    He said the girl had been referred to a hospital.

    Igwe said the suspect would be prosecuted.

    He urged governments, civil society organisations and International Federation of Women Lawyers to assist the victim.

  • APC probes loss in Anambra governorship poll

    All Progressives Congress ( APC ) National Chairman Chief John Odigie-Oyegun has said  the party will put its house in order before the next round of elections.

    Oyegun spoke while inaugurating a four-man committee to probe the circumstances that led to the loss of the Anambra governorship election.

    He said the Southsouth and the Southeast would play a crucial role in the party’s victory in the 2019 general election.

    Oyegun added that considering the level of work conducted by the party before the Anambra election, he was disappointed that the party lost the election.

    He said: “The South East and the South South will be crucial and critical to our victory in 2019. Not from the point of view of numbers of votes because we are fairly confident that having gone through our initial planning that the APC would carry the day in 2019.

    “But for us, it is critical that the Southeast and Southsouth zones have contributed immensely to the survival of this nation and so, must fully be represented in what is going to be a truly national government of the APC in 2019.

    “Today we are inaugurating a strategic committee and the mandate is for you, Chief Niyi Adebayo and your team to do a forensic examination of what could have gone wrong; why did we not do as well as we expected? What were the factors that contributed to our low score?

    “We did much better compare to the 2015, no question about that; but in all fairness, given the work we put in and given the reactions of the public and the rest of it there was no question at all that we ought to have done a lot better. So, the question today is why. It is important that we are using Anambra as a trigger.

    “The terms of reference was drafted and appropriately worded to give you the scope to look at the possibilities of God forbid a repetition of what happened in Anambra in other state in the Southeast. We want to start early; we want to strategise early; we want to plan early.”

    Adebayo assured the party of a thorough job.

    Other members of the committee are Ray Murphy, Chima Okafor and Mohammed Sule, who is the secretary.

  • The Senate:  More probes beckon

    The Senate: More probes beckon

    When the Senate Committee invited police chief Ibrahim Idris over the allegations by Senator Isah Misau, I knew a problem was in the offing. Idris rejected the summons and told the lawmakers that a case was in court on the matter. Honouring the summons, reasoned the Inspector–General, would be prejudicial.

    The senators, ever dutiful and diligent – isn’t that why they are revered as distinguished? – insisted that the probe must go on.

    Misau, by way of introduction, is the senator representing the good people of Bauchi Central. He hurled a truckload of allegations at the IG. Some of them bordered on financial misappropriation, mismanagement and misapplication – not stealing, please note. The police were left scampering for weapons to fight back. They did. Misau was slapped with an allegation of being a deserter. He defended himself desperately.

    All this while, the Senate did not lift a finger either for its own or for the IG, at least in protection of the office. Then, as if stung by a swarm of bees, the lawmakers sprang up to action when Misau accused the IG of some inappropriate behaviour that bordered on what the lawmaker described as the chief’s propensity for sexual peccadillos. He peppered it all with some salacious details, some of which are not fit for this space, this being a serious journal of repute and not some popular kiss-and-tell sensational publication.

    The committee threatened to issue a warrant for the IG’s arrest. Who will arrest the IG? Thankfully, the IG appeared before the committee yesterday. But he refused to answer questions, leaving observers to wonder what kind of questions would have been fired at him.

    Is it true you had a girlfriend who is now an officer and married to your good self? Did you actually put her in the family way as alleged? How did you do that? When? Where? Who are your witnesses? Was it with her consent or she was intimidated into it? Who are your witnesses?

    Can an officer fall in love while on duty? Are such acts common in the police? If so, how have you been checking the rank and file? Can a police chief’s private affair, including his bedroom deportment, affect his role as the chief crime fighter? Is a police chief expected to have a soft side in a country infested with vicious criminals, with jackals and hyenas in high places? Where is that tough-man image, the mere thought of which should keep criminals restless? Can an IG be seduced? How?

    Just before the IG elected to shun the committee, a senior lawyer, I am told, was getting set to storm the landmark hearing, which promised to be a watershed in the development of our criminal jurisprudence.

    Among the questions he planned to ask the distinguished senators are: why was there no probe when a senator was rumoured to have married an underage girl? Was the Senate’s image not tarnished by that act, with child rights activists describing the respected chamber as a den of pedophiles, drug pushers and robbers? Why the probe now that Misau has been charged with forgery, intent to harm the IG, peddling falsehood against the IG and lying, among several other practices?

    In other words, vigilantibus non dormientibus aequitas subvenit. That is to say, “Equity aids the vigilant, not those who slumber on their rights”.

    I advise the Senate to resist this attempt at circumventing its rights and duties. It is its responsibility to go ahead with the probe and, in fact, launch into several others that it has been threatening to undertake: The Maikanti Baru – Ibe Kachikwu kerfuffle; the Paris Club refund; the Nigeria Content Development Fund and many others.

    Consider the fact that suicide cases are rising. In Lagos, it is fast becoming fashionable for those who are disaffected with life to end it all by taking the final plunge – into the lagoon. Why are people taking their  lives?  Are the gods thirsty for blood? Is the economic situation that bad that some would like to see if it could be sunny on the other side? A Senate enquiry will, no doubt, provide answers to these questions. It should begin today.

    First, it was the State House Clinic. We were told by the President’s wife that it was a “mere consulting clinic”. No facilities. No drugs. Nothing. Now, we have heard of how some of our compatriots – 91 in all – have died of snake bite in Gombe and Plateau states because hospitals lack snake bite venom. Health Minister Prof Isaac Adewole says we haven’t run out of the essential drug to tackle the poison. So, what happened?

    I trust the Senate will launch a probe after a member must have raised a motion on “matter of urgent national importance.”

    The other day in Kabba, Kogi State, distinguished Senator Dino Melaye, a man not many will accuse of being saintly in disposition, of being urbane and placid, was pelted with stones and other missiles. We were told that hoodlums did it. Who are the so- called hoodlums? Whom were they working for? Were they masked? Why were no suspects arrested?

    These are the questions a probe will unravel. Over to the Senate.

    Many discerning observers of the polity are surprised that not even a tepid attempt has been made to institute a major probe into the seemingly vacuous allegation that the change that the Buhari administration  promised is yet to manifest. “We haven’t seen any change,” many have been crying. They are obviously those disillusioned fellows who won’t stop lamenting what to them were the good days of the Peoples Democratic Party (PDP) when oil sold at over $100 a barrel and we had so much to fritter away.  This has been the stand of government officials.

    But a doctor-turned-politician has thrown in the medical angle, suggesting  that those who claim not to have seen changes may have problems with their eyes. “Are we short of ophthalmologists?” he has been asking his aides.

    The Senate will do well to take up the challenge.  It should probe the strange thinking that propels some of our compatriots to ask, “where is the change?” Is the number of the blind growing? How many ophthalmologists do we have? Are they being owed salaries? Why will so many people be complaining of poor vision at the same time? Is there an epidemic or some strange eye condition?

    Despite its furious response to the allegation that its members draw jumbo salaries, the Senate has not been able to convince the public that it has not taken more than its legal dues from the treasury. In fact, a source close to a senator who is said to be in love with fast cars, movie stars and choice beverages, says the lawmaker often derides the purveyors of such rumours as nonentities.

    That is too mild.

    Senators should end this malicious allegation that won’t just go away once and for all by launching a grand probe that will lay the matter to rest – finally. All questions must be resolved, including the most troublesome of them all – how much exactly do senators earn?

     

     

    Eau de Akwa Ibom

    New perfume in town? Not quite. But some news – about good old, foxy tortoise of the folklorist era.

    Somewhere in Akwa Ibom, the poor animal is being hunted for a love potion, which in the local language is called kop nno mi (do as I say).

    Poor Dr Edem Eniang. The director of the Biodiversity Preservation Centre (BPC) has been having problems reining in those women who believe in the magical powers of this potion to arrest their men- body and soul.

    The University of Uyo teacher says the animal is endangered. He appeals to residents to help save the tortoise. I join him in this campaign.

    The fate of the tortoise in Akwa Ibom reminds one of those days of bloody politics in Oyo State.  One of the actors, Busari Adelakun – may his soul rest in peace – was well known for romanticising the powers of his juju. One of his fashion accessories was a small  live tortoise that he wore as a necklace, dangling from his neck. His opponents quaked at his appearance.

    The story is told of how he, as commissioner for Local Government carried out some reforms that were far-sighted but which the powers that-were resisted. He was unceremoniously moved to the Health ministry, but he did not like that. Adelakun (aka Eruobodo –the river dreads nothing) was said to have sworn that his successor would not stay long on the seat.

    When the new commissioner died suddenly, Adelakun was quoted as saying: “Kinkin ni mo fun. Mo ro pe okunrin ni, a se kii sokunrin (I gave him just a little. I thought he was a man… .”

    Ah, those good old days. Who will bring back some of the colour?

  • Senate probes Customs’ Ogun market operation

    The Senate, yesterday, asked its Committee on Customs and Excise to investigate the alleged unlawful breaking into shops of traders at Kayero Market, Sango Otta, Ogun State.

    The invasion of the market took place on February 22.

    The resolution followed a motion by Senator Gbolahan Dada (Ogun West) entitled: “The unlawful and outrageous action of officers of Nigeria Customs Service for breaking into shops of traders at Kayero Market, Sango Otta, Ogun State at 1 am on  February 22 without the presence of shop owners and carting away thousands of bags of rice and several cartons of vegetable oil worth billions of naira”.

    Dada, in his lead debate, said by the provisions of the Customs and Excise Management Act (CEMA), which set up the agency, Customs officers lacked the constitutional and statutory powers to break into shops or premises of any Nigerian without a valid court order or search warrant.

    He said even when such order or warrant was obtained, it must be executed in the presence of a witness or concerned shop owner or premises owner.

    The lawmaker explained that the essence of the provision was to preserve the rule of law, avoid a breakdown of law and order and prevent self-help remedies.

    Senator Adamu Aliero (Kebbi Central) opposed the motion.

    He said the Customs officers simply carried out their legitimate constitutional assignment, and should not be queried.

    Senator Abdulaziz Murtala Nyako (Adamawa Central) countered and insisted the matter must be investigated to ascertain the truth, whether or not the Customs officers acted within the law.

    The lawmaker said constituted authorities must respect the law of the land and the rights of citizens.

    When Deputy Senate President, Senator Ike Ekweremadu, who presided over plenary, put the matter to a voice vote, the motion was overwhelmingly supported and the prayer adopted.

  • DSS probes ex-governor’s ‘link’ with militia leader

    DSS probes ex-governor’s ‘link’ with militia leader

    •Suswam accused of building armoury      

    •Associates: he’s a man of peace

    Former Governor Gabriel Suswam is being probed by the Department of State Services (DSS) for his alleged link with a militia leader, Terwaze Akwazza (a.k.a Gana), The Nation learnt yesterday.

    Three Benue State local government areas – Logo, Katsina-Ala and Ukum – are said to be in Akwazza’s grip.

    The secret service is also investigating the ex-governor for allegedly building an armoury in his mansion, which is under construction in Makurdi.

    Among those building the mansion, which is said to be close to the Ministry of Agriculture in the state capital, are three Israelis.

    But a source close to Suswam yesterday said he suspected a frame-up by the ex-governor’s rivals.

    Suswam was trying to meet bail terms as at press time. He has been in detention for five days.

    According to a security source, who pleaded not to be named because he is not permitted to talk to the media, if Suswam is found to be innocent, the DSS will free him.

    The source said: “The DSS is looking into the activities of a militia leader in Benue State, Terwaze Akwazza (a.k.a Gana) whose group has been terrorising innocent villagers.

    “From security reports, the gang leader has held hostage three local governments – Logo, Katsina-Ala and Ukum. His group is running a mini-government in the affected local councils with locals paying obeisance, remitting funds and now even taking disputes to the group’s court.

    “Although Akwazza initially embraced the Amnesty Programme of the state government, he later reneged and returned to his base in mountainous areas. It is from there that his boys have been killing and maiming innocent citizens.

    “The situation in Benue, especially in the three local governments, is getting closer to how Boko Haram started and security agencies cannot sit idle without looking at all clues.”

    Some indigenes of Benue have alleged that there is a link between Suswam and Akwazza. “At a point, we got reports that Akwazza boys were providing security for the former governor instead of the Police and the DSS,” the source said.

    Besides,  it was alleged that the former governor was in touch with Akwazza even after the militia leader had been declared wanted.

    “Detectives are probing whether Suswam facilitated an interview for Akwazza with a television station. There are so many angles to this case,” he said.

    Detectives are said to have discovered that the militia leader was heavily armed during the 2015 general elections by some chieftains of the Peoples Democratic Party (PDP).

    “But after the poll, the group became unbearable and started waging guerilla attacks on villagers  in Benue State.

    “This is why we invited the ex-governor to explain his own side. We have not said Suswam is guilty. We are holding  him to assist our investigation,” the source said.

    Security agencies are also investigating alleged building of an armoury by the ex-governor.

    Three Israelis are said to be part of the project but we are yet to establish their role in the bunker,” the DSS source told The Nation.

    The DSS on Sunday detained Suswam over the recovery of some guns, ammunition, and 45 keys of “exotic” cars from two vehicles linked with him.

    It also said 21 Certificates of Occupancy (C of Os) and 23 designer watches were discovered in the vehicles – a Mercedes Benz S550 (BWR 135AH), and a Masarati 4.7 (BWR 207 AJ).

    The weapons recovered from the two vehicles are (i) Glock pistol with two (2) magazines and a total of Twenty-Nine (29) rounds of ammunition; (ii) Mini-Uzi with two (2) magazines containing 10 rounds and 4 rounds respectively; (iii) Forty-two (42) extra rounds of ammunition contained in a pack; and

    (iv) One (1) AK-47.

    As at yesterday, Suswam was battling for bail through his lawyers.

    He has been allowed access to his wife and counsel to prepare his defence under caution.

    Another source said: “The DSS has not molested him. His  wife brought meals for him on Tuesday. As soon as he meets bail terms, we will release him.”

    But Suswam’s friends and associates have attributed his arrest to “bitter partisan politics in Benue State”.

    One said:” I don’t have any fact, but I suspect that politics is at play. Suswam is not a violent leader; he has no basis for arming any militia.”

    Another associate said:  “The DSS should go and read the handover note from Suswam to Governor Samuel Ortom where reference was made to the activities of Akwazza and his men.

    “If Suswam was sponsoring the gang, he would not guide Ortom on how to tackle insecurity. It is all politics, despite the fact that the ex-governor has been cooperative with his successor.

    “To demonstrate his commitment to peace, the ex-governor recently reconciled with Governor Ortom by visiting him. Suswam is a symbol of peace.”

  • Senate probes NNPC for alleged N5.1tr subsidy fraud

    Senate probes NNPC for alleged N5.1tr subsidy fraud

    THE Senate has initiated probe into an alleged N5.1 trillion fuel subsidy fraud, believed to have been stolen by some Nigerians in connivance with top officials of the Nigeria National Petroleum Corporation (NNPC) between 2006 and 2016.

    At plenary yesterday, the Senate alleged the NNPC failed to remit the funds into the Federation Account.

    In a motion sponsored by Senator Dino Malaye (Kogi West), the lawmakers said some corrupt Nigerians were hiding the funds in caskets, uncompleted buildings and in remote villages in different parts of the country.

    “Monies are not accounted for and that might be the reason why we now see petro-dollars buried in caskets and uncompleted buildings in remote villages in some parts of the country,” Melaye said.

    He drew the attention of the Senate to the continued refusal of the Federal Government to probe the NNPC, which he said got 51 per cent share of imported petroleum products into the country.

    Petroleum product marketers, some of who are facing trial for alleged subsidy fraud, were responsible for the remaining 49 per cent of the importation of the products.

    The senator observed that it was the Senate President, Bukola Saraki, who raised the alarm over subsidy fraud in the Seventh Senate, wondering why the government was trying only marketers.

    “While we are prosecuting the independent marketers, whose proceeds from subsidy stood at N3.83 trillion, the NNPC collected a total of N5.1 trillion on subsidy and this has never been investigated…

    “We have taken the lead in the fight against corruption in this chamber and I want to say we must do everything within our powers to investigate and bring whoever is found wanting to book,” Melaye said.

    Saraki noted that the alleged subsidy fraud was a serious matter, saying that it goes to the core of the fight against corruption, particularly as it affects the NNPC.

    At the end of the debate, the Senate mandated its Committee on Petroleum (Downstream) to investigate the NNPC’s accounts relating to fuel subsidy and the abuse of product marketing and distribution between 2006 and 2016.

    Saraki said: “A situation where individuals do what they like and are not accountable to anybody should be stopped. The committee should do a thorough job and ensure that they get to the root of this issue. It borders on the issue of corruption, which has been affecting the country negatively.”

  • EFCC probes ex-MILAD, other over Diezani’s N4bn hotel deal

    EFCC probes ex-MILAD, other over Diezani’s N4bn hotel deal

    A former state military administrator is not telling the Economic and Financial Crimes Commission (EFCC) how he came about the N4billion in  Abuja with which he built a four-star hotel in Abuja that was later sold to former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.

    The anti-graft agency has already  invited all those connected with the transaction between the ex-MILAD and the embattled ex-Minister.

    The Nation gathered authoritatively last night  that the hotel could  be seized by the EFCC.

    The  ex-MILAD is also said to have been   implicated in a $318m mono-rail project in Rivers State.

    Investigation by our correspondent revealed that EFCC investigators,after  examining    the ex-MILAD’s accounts, are now  seeking  details of the offices held by the retired Brigadier-General, his pay slips,retirement benefits and accruing pensions.

    The  investigation of the ex-MILAD may extend to his stakes in some high net worth companies including one of the firms involved in a $318m rail project.

    A top source familiar with the probe said: “Apart from establishing the purchase deal, we are looking into the accounts and business activities of the former MILAD, who retired as a Brigadier-General. We want to establish how he came about the N4billion hotel and whether or not he is a business front for some political office holders.

    “We are in touch with the army authorities to seek the details of the offices held by the former Brigadier-General, his pay slips and retirement benefits and accruing pensions. We want to trace his records.

    “We have just discovered that he was allegedly involved in a $318million rail project in Rivers State. This dimension is expanding the scope of our ongoing investigation of the ex-MILAD.

    “At a point, the former MILAD was linked to botched plans to buy Metropolitan Hotel in Calabar. You can see that we have his dossiers.”

    Responding to a question, the source added: “So far, we have invited all those connected with the hotel deal between the ex-MILAD and Diezani for interrogation. Some of them include bankers and estate agents.

    “One crucial aspect of the investigation of Diezani’s hotel deal is that there were elements of e-transactions when the hotel was bought. We can easily trace all the links.”

    The source said after diligent investigation, the EFCC might seize the hotel in line with the Interim Assets Forfeiture Clause in EFCC Act.

    Sections 28 and 34 of the EFCC (Establishment Act) 2004 and Section 13(1) of the Federal High Court Act, 2004 empower the anti-graft agency to invoke Interim Assets Forfeiture Clause.

    “Section 28 of the EFCC Act reads: ‘Where a person is arrested for an offence under this Act, the Commission shall immediately trace and attach all the assets and properties of the person acquired as a result of such economic or financial crime and shall thereafter cause to be obtained an interim attachment order from the Court.’

    Section 13 of the Federal High Court Act reads in part: “The Court may grant an injunction or appoint a receiver by an interlocutory order in all cases in which it appears to the Court to be just or convenient so to do.

    “Any such order may be made either unconditionally or on such terms and conditions as the Court thinks just.”

    The National Crime Agency (NCA) in the UK arrested and quizzed Diezani and four others on October 2, 2015 for alleged bribery and corruption and money laundering.

    The  EFCC is understood to have also quizzed three to five more suspects since the interrogation of Diezani by the NCA.

    NCA last year obtained permission from a Westminster Magistrate’s Court to seize 27,000 pounds from Diezani and two other women.

  • Banking stocks sustain rally over clarity on EFCC probes

    For the second consecutive trading session, banking stocks bucked the negative overall market position at the Nigerian Stock Exchange (NSE) to close on the positive as many banks affirmed compliance with operational rules and dissociated themselves from slush political dealings.

    Amidst the sustained decline in the overall market position at the NSE in the past two trading sessions, the NSE Banking Index-which tracks the banking sector, sustained modest uptrend on the back of gains by many banks. The NSE Banking Index rose yesterday by 0.58 per cent, almost on the same level with the day-on-day gain of 0.6 per cent recorded on Tuesday.

    The All Share Index (ASI)-the value-based index that tracks prices of all quoted equities and serves as benchmark index for the Nigerian stock market, conversely dropped by 0.06 per cent yesterday, extending the downtrend that saw a decline of 0.70 per cent on Tuesday.

    The sustained rally in the banking sector came on the heels of clarifications by Sterling Bank and Access Bank that last week’s investigative visits by the Economic and Financial Crimes Commission (EFCC) were not in connection with any slush political dealings but were on normal banking transactions involving non-political clients.

    Sterling Bank’s share price remained steady on Wednesday after it rallied by 4.91 per cent on Tuesday, the eighth highest percentage gain within the five-hour trading session. Sterling Bank had filed a regulatory statement at the Exchange clarifying the recent issue involving the bank and EFCC.

    In the statement, Sterling Bank affirmed that it did not hold account for “the public officer from the previous administration to which this matter (EFCC visit to the bank) has been linked either officially or otherwise”.

    Some reports had linked last week investigative visit by the EFCC to the bank to the slush political dealings involving former Minister of Petroleum Resources, Mrs Diezani Allison-Madueke, generally known as Diezanigate. EFCC has also been investigating diversion of arms funds, otherwise known as Dasukigate, named after the former National Security Adviser, Col. Sambo Dasuki (rtd).

    Sterling Bank explained that while the reason for the visit by the EFCC was not immediately clear, it has now been confirmed that the investigation is related to the banking relationship of a non-bank financial institution that is a client of Sterling Bank Plc.

    “We affirm for the public records that the bank does not hold the account of the public officer from the previous administration to which this matter has been linked either officially or otherwise; the non-bank financial institution (asset management company) in question purchased a number of loans on a recourse basis from Sterling Bank Plc on commercially acceptable terms and this is the link of the concern raised by the EFCC to Sterling Bank Plc,” Sterling Bank stated.

    Sterling Bank assured the investing public that it has commissioned a review of the compliance procedures of its non–bank financial institution clients with the aim of strengthening this area of its operations while in the interim, the bank will not accept any new non-bank financial institution relationships.

    In a related statement, Access Bank also clarified that the EFCC visited the bank as part of ongoing investigation into a specific transaction involving a customer of the bank in the normal course of business.

    Access Bank noted that while the visit came without any form of notification or invitation, it fully cooperated with the officials of the EFCC.

    “We have observed the wide ranging speculations in the media connecting the visits of the Commission to various personalities. We would like to state emphatically for the benefit of our stakeholders that the bank has absolutely no link, interaction or relationship whatsoever with any of the personalities stated in the media reports,” Access Bank stated.

    The overall market position again closed negative yesterday. The ASI declined from 25,646.56 points to close at 25,630.52 points. Aggregate market capitalisation of all quoted equities also dropped marginally from N8.822 trillion to close at N8.820 trillion.

    However, the underlying sentiments at the stock market were largely positive with 31 gainers to 20 losers. The negative overall market position was driven largely by losses recorded by highly capitalised stocks such as Dangote Cement, Dangote Sugar Refinery, Flour Mills of Nigeria, Lafarge Africa and Ecobank Transnational Incorporated.

  • Customs probes two over N537.3m seizures

    Customs probes two over N537.3m seizures

    The Nigeria Customs Service (NCS) is investigating two unamed  persons for 203 assorted seizures with Duty Paid Value (DPV) worth N537.3 million, it was learnt at the weekend.

    The disclosure was part of the scorecard presented by the Head of Headqurters Compliance Team, Northern Axis, Assistant Comptroller Musa Jalo on the team’s operation.

    Customs Comptroller General Col. Hammed Alli inaugurated the team in December to complement efforts of policing the borders.

    The assistant comptroller said records showed that the enforcement of the compliance team in the North yielded results that have made smuggling unattractive.

    He said smugglers were now aware they could be jailed, besides losing money.

    Jalo added: “Since the establishment of the Compliance Team, the Northern axis has been on the offensive against smugglers.

    “Our achievements justify management’s decision to set up this team, intended to block leakages and intensify enforcement operations.”

    But he vowed that the NCS would crush smuggling, and asked Nigerians to provide information to assist it to win the war against smuggling.

    The seized items, according to Jalo are: 3,923* 25 litres jerry cans of vegetable oil, 1,649*50kg bags of foreign rice, 2,632 bales of second hand cloths and 4,073 cartons of spaghetti .

    Also seized are 17,580 cartons of foreign soap ( GIV), 451 Used types, 451 cartons of assorted drugs and 15 cars, 46 buses, and 21 trucks.

    The document reads: “In the period under review, the Headquarters Compliance Team, Northern axis, recorded 203 assorted seizures with Duty Paid Value (DPV) of N537,333,128.00.”