EFCC re-arraigns Atuche, Ojo over alleged fraud

The Economic and Financial Crimes Commission (EFCC), on Thursday, re-arraigned former Managing Director of the defunct Bank PHB, Francis Atuche and former Managing Director of the defunct Spring Bank, Charles Ojo for alleged financial malpractices.

The re-arraignment of the duo was sequel to the transfer of the case from Justice Rita Ofili-Ajumogobia, to a new judge, Justice Saliu Saidu, which led to the case beginning de novo.

Both defendants are standing trial on an amended 45-count charge bordering on reckless granting of credit facilities, financial impropriety and general banking fraud.

The defendants were alleged to have granted credit facilities, manipulated shares and committed general banking fraud to the tune of over N125 billion. The offence is said to contravene the provisions of sections 7(2) (b) of the Advanced Fee Fraud Act, 2004, and sections 15(1) of the Failed Banks (Recovery of debts) and Financial Malpractices in Banks Act, 2004.

It also contravenes the provisions of sections 516 of the Criminal Code Act, Cap C38, Laws of the Federation, 2004 as well as sections 14 (1) of the Money Laundering Prohibition Act, 2004.

At the resumed hearing of the matter on Thursday, the charge was read over to the defendants, who both pleaded not guilty.

Chief Anthony Idigbe, lawyer to Atuche, urged the court to allow the defendant continue on the earlier bail granted by previous trial judges.

According to Idigbe, the first judge, Justice Akinjide Ajakaiye, had admitted the defendants to bail in the sum of N50 million each with two sureties each in like sum.

He said the bail terms were subsequently adopted by Justice Binta Murtala-Nyako on February 3, 2012 and then by Justice Ajumogobia on January 16, 2013.

He, therefore, urged the court to exercise its discretion in allowing the defendants continue on the earlier bail.

However, the prosecutor, Mr Kemi Pinheiro, did not object to the oral submission for bail.

Ruling on the oral bail application, Justice Saidu ordered the defendants to continue with the earlier bail granted by the previous judges.

SSS detains Sanusi at Lagos airport, confiscates travel documents

The State Security Service (SSS), has confiscated the travel documents of suspended governor of the Central Bank of Nigeria (CBN), Malam Sanusi Lamido Sanusi on his arrival today at the Murtala Mohammed International Airport in Lagos.

The suspended CBN governor was returning to Nigeria from Niger Republic where he was attending a meeting of Central Bank Governors, after receiving news of his suspension as CBN governor.

Daily Trust learnt that on Sanusi’s arrival at the Airport, plain cloth men believed to be of the SSS tried to arrest him at the airport but were deterred by the presence of press men at the airport.

Speaking to Daily Trust on phone, Malam Nasiru El-Rufai also in Lagos with Sanusi Lamido Sanusi confirmed that the SSS tried to detain Sanusi but opted to confiscate his international travel passport.

El-Rufai who said Sanusi was presently resting at a friend’s place in Lagos, noted that the SSS did not give any specific reason for the attempted arrest and subsequent confiscation of Sanusi’s passport.
He said they cited their actions on orders from above.
However, a top official at the SSS, who asked not to be mentioned, denied the action, when contacted by Daily Trust, the SSS official simply said, “I am not presently in the office, but I can tell you that the story is not true.”

President Goodluck Jonathan Suspends Lamido Sanusi, Appoints Acting Governor

SANUSI LAMIDO SANUSI n BEVERLY HILLS, February 20, (THEWILL) - President Goodluck Jonathan has suspended the controversial Governor of the Central Bank, Mallam Sanusi Lamido Sanusi.

A statement by Reuben Abati, the President's spokesman announced the development on Thursday.

Edo bans highway revenue collection

Edo State Government has banned revenue collection on the highways in the state.


In a statement signed by the Commissioner for Information and Orientation, Louis Odion, the government said this followed numerous reports of misconduct by revenue collection agencies.


'Following incessant reports of extortion and harassment of road users on roads and highways in Edo State, the Edo State Government hereby announces the prohibition of revenue collection under any guise by any person or group of persons purporting to be acting on behalf of state or local government.'


Odion added that the state government prohibited the operation of Passengers Welfare Scheme.

Lagos Alerts Residents on Heavier Rains in 2014

The Lagos State Government Wednesday alerted its residents across all local councils of  possible    heavier rainfall than the previous years taking cognisance of the pattern of rainfall since January.

The state government, consequently, urged stakeholders across the state, including traders, marketers, community leaders and artisans among others to desist from dumping wastes on canals and drainage channels.

President Goodluck Jonathan donates N50m to supporters club for 2014 world cup

President Goodluck Jonathan has donated N50 million to the Nigerian Football Supporters Club Worldwide,  towards the 2014 World Cup in Brazil.


He made the donation on behalf of the Federal Government after being ‎decorated as the  Grand Patron of the  Nigeria Football Club Worldwide, with a promise to convince the senior boys in the country to double the amount.


The brief decoration ceremony which was held shortly before the commencement of the Federal Executive Council meeting on Wednesday, at the Council Chambers of the Presidential Villa.

Group Calls On Federal Government To Establish Electoral Offences Tribunal

Transform Nigeria Citizens Initiative has called on the National Assembly to pass a legislation to establish a special Electoral Offences Tribunal to dispense justice in all cases of electoral malpractice, ahead of the 2015 general election.

In a press statement released today, the global group popularly known as Transform Nigeria Movement, TNM, noted that the 2015 polls should be more transparent and more credible than that of 2011 as Nigeria cannot afford to have elections or general governance slide back in terms of peacefulness, fairness, transparency, or credibility.

ObJ’s Invitation, Waste Of Rivers Resources—PDP

The Peoples Democratic Party, PDP, Rivers State Chapter says it is not happy over the continued wastage of Rivers State resources by the Amaechi government, saying the invitation of the Former President, Chief Olusegun Obasanjo to the State is one of the several means of misappropriating tax payers money in the State.


The Party notes that volumes of financial resources, amounting to N1bn (One Billion Naira) were spent for the hosting of the former President by the Rivers state government, wondering why such action by the Governor when the State is in dire need of funds to complete all abandoned projects and sundry issues.

Declaration by the High Representative, Catherine Ashton, on behalf of the European Union on the review of EU-Zimbabwe relations

 BRUSSELS, Kingdom of Belgium, February 19, 2014/African Press Organization (APO)/ -- The European Union has reviewed its relations with Zimbabwe and has today taken a further step towards normalisation of those relations. This reflects not only the progress that has been made but also the challenges that remain. The EU has taken these steps to support the Zimbabwean people to achieve a more prosperous and democratic future.

PHOTO: Burna Boy gets new neck tattoo

Burna Boy has added another tattoo to his inked-out body, we’re wondering if there’s going to be space for any more!
The new tattoo is a picture of a bird in the clouds. Burna describes the new tat as an expression of ‘freedom’
‘#Artistic representation #FREEDOM‘, he wrote as he posted the photo.
Check out another photo of Burna showing off his tattoos

HP Executives Were Aware Of Autonomy's Loss-Making Hardware Sales

Hewlett-Packard Co's senior executives were aware of Autonomy Corp's accounting practices months before a whistle-blower flagged them, prompting HP to write down Autonomy, the Financial Times reported citing email records.

Palo Alto, California-based HP has said it was a victim for having paid $11.

1 billion to buy Autonomy in 2011.
It took a writedown of $8.
8 billion in November 2012, accusing Autonomy officials of accounting fraud.

American Kenneth Bae 'admits' crime, calls on US to help free him from North Korea

In a videotaped "press conference" experts believe was almost certainly given under duress, American missionary Kenneth Bae confessed to committing crimes against North Korea and appealed to the U.S. to help free him.
Speaking under guard, the 45-year-old said he has been treated well and that Pyongyang has provided him "humanitarian support," according to China's state-run news agency Xinhua, which has a presence in Pyongyang.
Bae said the address was given at his own request, though it is not unusual for prisoners in North Korea to say after their release that they spoke in similar situations under duress.

Nigerians in Saudi Arabia change names to avoid deportation -Envoy

Nigerian Ambassador to
the Kingdom of Saudi
Arabia, Mr. Abubakar
Bunu, has said many
Nigerian emigrants are
changing their names to
outsmart authorities and
avoid deportation.
Bunu, who disclosed this to
journalists in Gusau on
Saturday, said many of the
emigrants had gone into
hiding, thereby making it
difficult for law
enforcement agents to
trace them.
He explained that in spite
of joint efforts by the Saudi
authorities and officials of the Nigerian Embassy
there to locate them, only about 500 persons had
been repatriated in the last six months.
The News Agency of Nigeria reports that Bunu said
the embassy had discovered that some of the
emigrants, who had lived there for upwards of 25
years, had crossed through different routes
including Sudan and Yemen or as pilgrims on lesser
hajj and refused to return.
Bunu stated that although the figure of Nigerians
staying illegally in the kingdom was not known, the
Saudi authorities said it was over one million.
He therefore advised Nigerians who want to stay in
the Arabian country to regularise their documents
with the authorities to avoid unwarranted
embarrassment.
Some deportees, who were brought back to Gusau
recently and spoke to NAN on condition of
anonymity, however claimed hat 'only when one was
hit with hard luck that the person gets arrested and
deported.'
They maintained that many Nigerians still lived
normal lives in Mecca and Madinah by going to the
markets and praying at the Holy Mosques without
being harassed.
They said, 'We will still go back whenever we get the
chance.' We still have our family members and
personal belongings there.'
NAN reports that the ambassador was in the state to
attend the state's PDP elders and stakeholders
meeting organised by the party's caretaker
leadership in Gusau. NAN