₦airaland Forum

SurestG:
Congrats to her but why the unclothedness Congrats to her but why the unclothedness

SillyMods:
Who is preaching to you?

Am I one of the ND governors crying on daily basis that they bear the brunt more than any other state in Nigeria?

The current set-back of their action on the Nigeria economy will surely be a thing of the past, if not immediate then in five to 7 years as Nigeria focuses more on other resources.

SillyMods:
Let Niger Delta continue with their bombings. We're in it together.
If anything, the region suffers most than any other part of the country.

There seems to be no end in sight to Nigeria’s economic woes, as the third quarter real gross domestic product (GDP) growth data released monday by the National Bureau of Statistics (NBS) showed that the country sank deeper into recession, contracting by 2.26 per cent from -2.06 per cent in the second quarter of this year, and -0.36 per cent in the first quarter.

This represented a 0.18 per cent drop from the growth recorded in the preceding quarter and lower by 5.08 per cent relative to the corresponding quarter in 2015.

The contraction in GDP was largely driven by the militancy in the Niger Delta, which resulted in a drop in oil output during the third quarter to 1.63 million barrels per day (mbpd) and the oil sector’s contribution to GDP, notwithstanding the rebound recorded in the agriculture sector.

Nigeria depends on oil exports for 90 per cent of its foreign exchange earnings, reflecting the impact of a depressed oil sector on the economy.

The latest GDP growth data further confirmed the level of weakness in the economy, which has been hobbled by rising unemployment and job losses, declining capacity utilisation, and acute foreign exchange shortage.
According to the NBS, quarter-on-quarter (unadjusted for seasonality), real GDP, however, increased by 8.99 per cent.

During the quarter under review, aggregate GDP stood at N26.55 trillion (in nominal terms) at basic prices compared to N17.8 trillion in Q2 2016 and N24.31 trillion in Q3 2015.

Nominal GDP grew by 9.23 per cent relative to the growth recorded in Q3 2015 by 3.22 per cent.

Daily oil production averaged 1.63 million barrels per day (mbpd), lower than the 2.11mbpd in Q2 and also lower relative to the corresponding quarter of 2015 by 0.54 mbpd when output was recorded at 2.17mbpd.

As a result, real growth of the oil sector slowed by 22.01 per cent (year-on-year) in Q3 2016, representing a decline of 1.06 per cent from Q3 2015. Quarter-on-quarter, oil sector growth was 8.07 per cent.

The oil sector contributed 8.19 per cent of total real GDP in Q3, down from 8.26 per cent and 10.27 per cent in Q2 and Q3 2015 respectively.

On the other hand, the non-oil sector contributed 91.81 per cent to GDP in real terms, up from 91.74 per cent in Q2, which was largely driven by activities in agriculture (crop production), information and communications and other services.

The non-oil sector grew by 0.03 per cent in real terms in the period under review, reversing two previous quarters of negative growth in Q1 and Q2 2016.
In the non-oil sector, agriculture contributed 24.09 per cent to nominal GDP during the quarter, higher than 19.71 per cent and 24.51 per cent recorded in both Q2 2016 and Q3 2015, respectively.

The manufacturing sector contributed 8.59 per cent to nominal GDP, lower than 8.95 per cent in Q2 2016 and 9.67 per cent in Q3 2015.

But real GDP growth of the manufacturing sector slowed by 2.63 per cent to -4.38 per cent (year-on-year) from –1.75 per cent growth recorded in third quarter of 2015 and 1.02 per cent in the previous quarter. On a quarter-on-quarter (seasonally unadjusted) basis, the sector increased by 6.28 per cent.
Nevertheless, nominal GDP growth of manufacturing was put at –2.93 per cent (year-on-year), reflecting a drop of 1.91 per cent from the 1.02 per cent recorded in the previous quarter as well as 7.73 per cent lower than the 4.80 per cent recorded in Q3 2015. On a quarter-on-quarter basis, the sector grew by 8.49 per cent.

The NBS said the drop in manufacturing in the period under review was “partly due to the continued fall in the exchange rate, which made imported inputs more expensive, thereby increasing business costs”.

It said: “This was greatly as a result of the continued fall in the naira to dollar rate which translates to much higher cost of business operations.”
The electricity, gas, steam and air conditioning supply segment contributed 0.33 per cent to real GDP and grew 8.65 per cent in Q3.

The construction sector contributed 2.96 per cent to nominal GDP, lower than 4.22 per cent in Q2 2016 and 3.15 per cent in Q3 2015.

Trade grew by 15.36 per cent and contributed 19.83 per cent to GDP in the third quarter, down from 21.16 per cent in the previous quarter.

The accommodation and food services sector grew by 2.73 per cent year-on-year, representing an increase of 1.75 per cent relative to 0.98 per cent in Q3 2015. It contributed 0.87 per cent to GDP from 0.67 per cent in Q2.

The transport and storage segment contributed 1.20 per cent to real GDP while the telecommunications and information services and broadcasting contributed 10.14 per cent to GDP in Q3 compared to 12.68 per cent in Q2 2016.

The finance and insurance sector contributed 2.90 per cent to real GDP in the period under review, lower than 3.05 per cent in Q2 and higher than 2.76 per cent in Q3 2015.

The real estate services sector contributed 7.17 per cent to real GDP, lower than the 7.57 per cent in the corresponding quarter of 2015 and the preceding quarter.

Also, the arts, entertainment and recreation sector contributed 0.19 per cent to real GDP, from 0.23 per cent in Q2 2016 and 0.18 per cent in Q3 2015.

[size=15pt]Economic Stimulus[/size]

Reacting to the worrying GDP growth data for the third quarter of the year, economists yesterday harped on the need for the federal government to resort to fiscal stimulus to revive growth and reset the economy.

The Head of Africa Research, Standard Chartered Bank, Razia Khan, said Q3 GDP contraction in Nigeria did not come as a surprise largely because of the extent of the downturn in oil sector GDP.

According to Khan, the resumption of payments to Niger Delta militants was not sufficient to trigger a meaningful improvement in production, saying that further attacks, reported in recent weeks, pose new risks to the outlook, as does the very real risk that there may not be any resolution to Niger Delta issues soon.

“However, flat growth does not in itself hold enough promise. The urgent adoption of reforms is now required in order to de-bottleneck Nigerian growth.

“Not least, real attention needs to be given to the problems of FX liquidity which continue to hold back growth in manufacturing. It is clear that the measures instituted so far are not sufficient to bring about a real improvement in FX inflows. New, and different thinking is required,” Khan said in response to enquiries by THISDAY.

The Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, said the latest NBS report showed that “some things are definitely not working right”.
“This is a bad news. We are in real trouble. With three consecutive quarters of increasing negative growth, that means we are getting deeper into recession.

“The stimulus package has to be increased and intensified and the interest rate has to come down and they have to make forex available. The forex market arrangement now is not working and something has to be done and very quickly.
“There is no easy answer to it, but we must face the reality and find our way out of this situation,” the FDC boss stated.

Also, the Global Chief Economist at Renaissance Capital, Mr. Charlie Robertson, in a note yesterday, held the view that “in an ideal world, Nigeria will let its currency float too in 2017. No investor we spoke to will put money into Nigeria, unless it copies the currency reform story that Egypt and Russia have both done”.

Similarly, the Director General of the West African Institute for Financial and Economic Management, Prof. Akpan Ekpo, said the delay in approving the federal government’s $30 billion borrowing plan may continue to hurt the economy.

“To be honest, the government need resources to spend and the delay in approving the borrowing is a problem. The lawmakers need to approve it for government to borrow quickly and put the money into capital project. That is very important.

“Secondly, a lot of the states are still not paying salaries. The federal government has to find a way of supporting the states to pay salaries,” the former vice-chancellor of the University of Uyo said.

[size=15pt]FG Downplays NBS Data[/size]

But in its reaction to the worrying data released by the NBS, the federal government said yesterday that it would announce an ‎Economic Recovery and Growth Plan (ERGP) before the end of the year, even as recession continues to bite harder.

In an attempt to downplay the discouraging economic data, the Office of the Vice-President said efforts to rejuvenate the economy yielded positive results in the third quarter.

It also blamed the dismal performance of the economy on the vandalism of oil and gas infrastructure in the Niger Delta, resulting in production shut-ins and lower oil output.

A statement by the Senior Special Assistant to the Vice-President on Media and Publicity, Mr. Laolu Akande, said: “Third quarter GDP growth figures released by the National Bureau of Statistics revealed a consistent growth in the agriculture and solid mineral sectors, indicating the success of the Buhari administration’s economic policies, even though overall the economy is still in recession.

“The over-riding impact of the oil and gas sector, where vandalism and sabotage of critical installations negatively affected production output, explains the persistence of the recession, as the non-oil economy posted a very slight growth.

“Efforts to resolve the Niger Delta situation are however continuing as the federal government has opened several channels of communication with all relevant groups in the Niger Delta.

“Also, urgent fiscal and monetary measures to spur the economy back to overall positive territory are certainly in the offing, including those targeting manufacturing.”

In another statement from the federal government’s Economic Management Team, the Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu, added that the third quarter data released by the NBS showed that the Nigerian economy is still in recession.

According to him, the slight deterioration in national economic performance was largely due to the continued poor performance of the oil and gas sector, which worsened to -22.01% in the third quarter, compared to -17.48% in the second quarter of 2016.

He said the immediate cause of this was the steep decline in oil and gas production in the third quarter of 2016 due to acts of vandalism and sabotage of oil export facilities.

He also said the decline was also caused by the continued outsized influence of the oil and gas sector on the rest of the economy, as typified by its contribution to government revenue and foreign exchange earnings, which he said continued to be important motors of economic activity.

“Moreover, due to time lags, it is still too early for policy interventions of the federal government to begin to impact fully on economic activity,” he added.
There are however some “green shoots” of economic recovery beginning to emerge, Dipeolu said.

He said that on-going consultations to bring lasting peace to the Niger Delta had led to an increase in oil and gas production which if sustained at current prices, would bring a measure of relief to the economy.

He also said other key sectors of the economy showed encouraging signs of improvement.

“The growth in the non-oil economy, although still weak at 0.03 per cent, showed a return to positive territory after two consecutive quarters of negative growth. This was partly due to the continued good performance of agriculture and the solid minerals, two sectors prioritised by the federal government.

“Agriculture grew by 4.54 per cent in the quarter under consideration, of which growth in crop production at nearly 5 per cent was at its highest since the first quarter of 2014. Growth in the solid minerals sector averaged about 7 per cent.

“The financial services sector also experienced a rebound quite strongly in the period under review, growing by 2.85 per cent from a negative growth of -13.24% in the second quarter.

“The recently approved first tranche of $600m to be borrowed from the African Development Bank will also provide some relief in budgetary terms and supplement capital inflows.

“Indeed, there was a slight uptick of capital inflows into the economy in the third quarter of 2016. Overall capital inflows in the third quarter of 2016 increased by 74.84 per cent over the second quarter,” he added.

Dipeolu, however, noted that the performance of the manufacturing sector continued to be of concern given its key role in value addition and job creation in the economy.

Nonetheless, he was optimistic that the real sector would soon experience sustained improvement in its contribution to the national economy because of greater local sourcing of raw materials, expected improvements in infrastructure, especially in power supply and reductions in the cost of doing business.

He also stated that though inflation was still high at 18.3 per cent on a year-on-year basis, it had begun to level out on a month-on-month basis and should enable the deployment of more policy tools to support growth and employment.

[size=15pt]Moody’s 2.5% Growth Forecast[/size]

Some encouraging news also came from international ratings agency, Moody’s, which forecast that the Nigerian economy could expand by 2.5 per cent next year as long as it can keep oil output at 2.2 million barrels per day.
Moody’s senior analytical adviser for Africa, Aurelien Mali, told Reuters that the country’s fourth quarter growth could be close to flat.
Mali said increases in oil output would help Africa’s top oil exporter generate more dollars.

“With resumption of oil production and the dollars that should come, we expect that Nigeria would be able to accelerate the implementation of the budget,” Mali said.

“With an acceleration, we expect that (growth) could reach 2.5 per cent next year,” he said.

Moody’s downgraded Nigeria to B1, with stable outlook in April from Ba3. Mali said government’s inability to ensure increase in oil production in the medium term could exert negative pressure on its balance sheet and trigger another rating action.

However, he said the currency depreciation in June had compensated for government revenues because the country took action before it had a much bigger gap in its income. However, the currency weakness has not led to foreign inflows, Mali said.

Oil accounts for almost 10 per cent of Nigeria’s GDP. Mali said reforms aimed at increasing the share of non-oil taxes as a percentage of government revenues would be positive for ratings.

The Economic and Financial Crimes Commission, EFCC, yesterday, dragged the Chairman of Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concept Limited, Jide Omokore, before Justice Nnamdi Dimgba, over alleged criminal diversion of over $1.6 billion belonging to the Federal Government under the guise of oil swap.

According to court papers, Mr. Omokore and the others claimed they had the expertise and the wherewithal to procure crude oil from the Nigerian National Petroleum Corporation, NNPC, and process same and deliver the monetary equivalent of 5,652,227 barrels of crude oil to them by the corporation.

However, the prosecution is set to prove to the defendants that they intentionally defrauded the government by taking the crude and not delivering the money or the crude back to the government.

Omokore was arraigned along with Victor Briggs, Abiye Membere, David Mbanefo, Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concepts Limited.

They were re-arraigned on a nine-count amended charge of criminal diversion of about $1.6 billion alleged to be proceeds of petroleum products belonging to the Federal Government.

They pleaded “not guilty” when the charges were read to them.

In view of their plea, prosecuting counsel, Rotimi Jacobs (SAN), urged the court to fix a date for the commencement of trial, and to allow the defendants to enjoy the bail earlier granted them by Justice Binta Nyako.

Counsel to the defendants did not object to the request of Jacobs, urging the court to accede to his request.

Justice Dimgba, thereafter, fixed December 8 for hearing in the case, adding, “I, hereby, adopt the bail terms as mine.”

It would be recalled that Omokore and his co-defendants were first arraigned before Justice Nyako, on July 4, but the case file was afterwards transferred to Justice Dimgba by the Chief Judge of the Federal High Court.

Count one reads: “That you Olajide Jones Omokore, Atlantic Energy Brass Development Ltd, Atlantic Energy Drilling Concept Ltd and Kolawole Akanni Aluko (now at large) between May and October 2013, within the jurisdiction of this court, by false pretence and with intent to defraud, induced the Nigerian National Petroleum Corporation, NNPC, and the Federal Government of Nigeria to deliver to you 5,652,227 barrels of crude oil (Brass blend) amounting to the sum of US$616,013,615.27 through the medium of contract, which delivery was induced by the false pretence.”

investnow2013:
You can still be Onye Anambra now!!!.

Acting Chief Justice of Nigeria, Justice Walter Onnoghen, on Monday urged judges to shun corruption in order to align themselves with the President Muhammadu Buhari Administration’s anti-graft stride.

Onnoghen, who spoke in Abuja, also urged them to ensure an independent, strong, respectable and responsible judiciary by adhering to their oath of office as contained in the constitution and Code of Conduct for Judicial Officers.

“Let me also seize this opportunity to remind us as ministers in the temple of justice, we must shun all corrupt practices in order to align ourselves with the anti-corruption strides of the current administration,” he said.

He spoke at the 2016 Conference of All Nigerian Judges of the Lower Courts, held at the National Judicial Institute, Abuja.

The event was with the theme, ‘The lower courts as veritable instruments for justice and peace in a democratic society.’

The event was the first official outing of Justice Onnoghen since November 10 when he was sworn in by President Buhari as the acting CJN to take over from the immediate past CJN, Justice Mahmud Mohammed (retd.).

Speaking at the NJI event on Monday, Justice Onnoghen, who doubles as the Chairman of NJI, described judges as guardians of the rule of law.

He urged judges to adhere strictly to their oath of office and dispense justice promptly and without fear, favour or ill-will.

He said, “It is pertinent to note that an independent, strong, respectable and responsible judiciary is indispensable to the administration of justice and to have such an institution, we must adhere to our oath of office as contained in the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and the Code of Conduct for Judicial Officers.

“As impartial arbiters, we must at all times uphold the rule of law, eliminate unnecessary delays and above all ensure that justice is dispensed promptly, without fear or favour, affection and ill-will to both parties in accordance with the provisions of the law.”

He described lower court judges as closest to the grass roots and with “the compliment of being the first line of defence for the liberties of citizen.”

He urged the judges to remain incorruptible despite the challenges which they faced “in the areas of inadequate funding, infrastructure and facilities, caseload volume, corrupt practices and most significantly delays in relation to criminal trials, which have contributed to the congestion of our prisons.”

The Administrator of NJI, Justice Roseline Bozimo (retd.), who congratulated Justice Onnoghen, on his recent appointment, urged judges to uphold the rule of substantial justice in their decisions as against technicalities of the law.

According to her, upholding substantial justice, often celebrated by the society helped to promote peach and ensure sustainable democracy while decisions based on technicalities of law could provoke conflict or violence.

She acknowledged that the Nigerian judiciary had always come out of its high and low moments stronger.

She said the developments in the judiciary had shown that the judiciary would always uphold substantial justice rather than technicalities of law.

She said “In the 16 years of democratic rule in this our dear country, it can be said that the Nigerian judiciary has witnessed both its low and high moments but in all, the judiciary has always come out stronger.”

Lalasticlala, Mynd44

[size=15pt]Some of the charges against Justice Ngwuta read:[/size]

COUNT ONE: STATEMENT OF OFFENCE

Money Laundering, contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act 2012 (as amended) and punishable under Section 15 (3) of the same Act.

PARTICULARS OF OFFENCE


Sylvester Nwali Ngwuta, adult, ’M’, 65 years, of No. 2 Yellow Houses, Supreme Court Quarters, off Shehu Shagari Way, Central District, Abuja, on or about the 4th day of January 2016, within the jurisdiction of this Honourable Court, transferred the total sum of One Hundred and Thirty Million denominated in, Naira and US Dollars, (N130,000,000.00) to Nwamba Linus Chukwuebuka, a Building Contractor, which sums formed part of the proceeds of an unlawful act and thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act 2012 (as amended).

COUNT TWO: STATEMENT OF OFFENCE

Money Laundering, contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act 2012 (as amended) and punishable under Section 15 (3) of the same Act.

PARTICULARS OF OFFENCE

Sylvester Nwali Ngwuta, adult, ’M’, 65 years, of No. 2 Yellow Houses, Supreme Court Quarters, off Shehu Shagari Way, Central District, Abuja, on or about April 2016, within the jurisdiction of this Honourable Court, transferred the total sum of One Hundred and Sixty Five Million, denominated in Naira and US Dollars, (N165,000,000.00) to Nwamba Linus Chukwuebuka, a Building Contractor, which sums formed part of the proceeds of an unlawful act and thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act 2012 (as amended).

COUNT THREE: STATEMENT OF OFFENCE

Money Laundering, contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act 2012 (as amended) and punishable under Section 15 (3) of the same Act.

PARTICULARS OF OFFENCE

Sylvester Nwali Ngwuta, adult, ’M’, 65 years, of No. 2 Yellow Houses, Supreme Court Quarters, off Shehu Shagari Way, Central District, Abuja, on or about April 2016, within the jurisdiction of this Honourable Court, transferred the total sum of One Hundred Million, denominated in Naira and US Dollars, (N100,000,000.00) to Nwamba Linus Chukwuebuka, a Building Contractor, which sums formed part of the proceeds of an unlawful act and thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act 2012 (as amended).

COUNT TWELVE: STATEMENT OF OFFENCE

Unauthorized Possession of More than One Valid Standard Nigerian Passport contrary to Section 10 (1) (a) of the Immigration Act 2015 and punishable under Section 10 (1) of the Act.

PARTICULARS OF OFFENCE

Sylvester Nwali Ngwuta, adult, ‘M’, 65 years, of No. 2 Yellow Houses, Supreme Court Quarters, off Shehu Shagari Way, Central District, Abuja, FCT, on 8th October 2016 at Abuja within the jurisdiction of this Honourable Court, had in your possession, two valid Standard Nigerian Passports and you thereby committed an offence contrary to Section 10 (1) (a) of the Immigration Act 2015.

COUNT THIRTEEN: STATEMENT OF OFFENCE

Making a False Statement for the Purpose of Procuring a Passport contrary to Section 10 (1) (c) of the Immigration Act 2015 and punishable under Section 10 (1) of the Act.

PARTICULARS OF OFFENCE

Sylvester Nwali Ngwuta, adult, ‘M’, 65 years, of No. 2 Yellow Houses, Supreme Court Quarters, off Shehu Shagari Way, Central District, Abuja, FCT, on the 5th day of April 2016, at Abuja within the jurisdiction of this Honourable Court, knowingly made a false statement to the Passport Office concerning the loss of your Standard Nigerian Passport No: A04389985 and thereby committed an offence contrary to Section 10 (1) (c) of the Immigration Act.

COUNT FOURTEEN: STATEMENT OF OFFENCE

Submitting Multiple Applications to the Passport Office with the Intention of Obtaining Multiple Passports contrary to Section 10 (1) (d) of the Immigration Act 2015 and punishable under Section 10 (1) of the same Act.

PARTICULARS OF OFFENCE

Sylvester Nwali Ngwuta, adult, male, 65 years, of No. 2 Yellow Houses, Supreme Court Quarters, off Shehu Shagari Way, Central District, Abuja, FCT, on the 5th day of April 2016, at Abuja within the jurisdiction of this Honourable Court, you submitted multiple applications to one or more passport offices with the intention of obtaining multiple Standard Nigerian Passports for yourself and thereby committed an offence contrary to Section 10 (1) (d) of the Immigration Act 2015 and punishable under Section 10 (1) of the same Act.”

Corrupt practices exposing judiciary to criticisms – Acting CJN

Meanwhile, the Acting Chief Justice of Nigeria, Justice Walter Onnoghen, yesterday, lamented that corrupt practices by judicial officers have greatly exposed the Nigerian Judiciary to criticisms.

Onnoghen, who stated this at his first official function, the flag-off of 2016 conference of all Nigeria Judges of the lower courts, said he was ready to wield the big stick against perpetrators of corruption in the Judiciary.

“Let me also seize this opportunity to remind us that as ministers in the Temple of Justice, we must shun all corrupt practices in order to align ourselves with the anti-corruption strides of the current administration”, Justice Onnoghen told Judges participating in the conference.

He said: “Your primary role as judges of the Lower Courts is to settle disputes that come before you in accordance with the provisions of the law.”

The performance of this onerous task depends on several factors such as strict adherence to the rule of law, the Code of Conduct for Judicial Officers, access to justice, integrity and independence of the Judiciary.

“While acknowledging your competence in discharging your duties, we are not unmindful of the challenges you face, which hinders the smooth administration of justice and exposes the Judiciary to a lot of criticisms. These challenges are in the areas of inadequate funding/infrastructure/facilities, caseload volume, corrupt practices and most significantly, delays in relation to criminal trials, which have contributed to the congestion of our prisons.

“As guardians of the rule of law, let me remind you that administering justice is crucial to the effective running and stability of a democratic society as well as the peaceful coexistence of its citizens, without which the society will degenerate into anarchy.

“It is pertinent to note that an independent, strong, respectable and responsible judiciary is indispensable to the administration of justice and to have such an institution, we must adhere to our Oath of Office as contained in the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and the Code of Conduct for Judicial Officers.

“As impartial arbiters, we must, at all times, uphold the rule of law, eliminate unnecessary delays and above all, ensure that justice is dispensed promptly, without fear or favour, affection and ill-will to both parties in accordance with the provisions of the law”.

The theme of the biennial conference which is taking place at the National Judicial Institute, NJI, is: ‘The Lower Courts as Veritable Instruments for Justice and Peace in a Democratic Society’.

In her welcome address, the Administrator of the NJI, Justice R. P. I. Bozimo, said the conference provides an avenue for lower court judges to not only update their skills and knowledge, but also refresh them on contemporary legal issues.

“It is important to state that for the lower courts to serve as veritable instruments for justice and peace in a democratic society, they must continually demonstrate deep foresight for productivity, exceptional capacity and remarkable courage in the defence of constitutionally guaranteed individual and institutional rights.

Lalasticlala, Mynd44

ABUJA —DESPITE stiff opposition from the Federal Government, the Abuja Division of the Federal High Court, yesterday, released Justice Sylvester Ngwuta of the Supreme Court on bail to the tune of N100 million.

Ngwuta secured bail on a day he was docked on a 16-count criminal charge bordering on money laundering, age falsification and illegal possession of multiple international passports, contrary to Section 10 (1) (a) of the Immigration Act 2015.

Trial Justice James Tsoho said he released the accused jurist on bail, in view of his status as a Justice of the Supreme Court of Nigeria.

He said there was nothing before the court to show that Ngwuta had in any way breached the administrative bail earlier given to him by the Department of State Services, DSS.

This came on a day Acting Chief Justice of Nigeria, CJN, Justice Walter Onnoghen, lamented that corrupt practices were exposing the Judiciary to criticisms and asked judges to align with President Muhammadu Buhari’s anti-graft war.

[size=15pt]I’m not guilty —Ngwuta[/size]

Justice Ngwuta had shortly after he pleaded not guilty to all the charges, begged the court to grant him bail on self-recognition, pending the hearing and determination of the case against him.

Addressing the court through his lead counsel, Chief Kanu Agabi, SAN, the defendant insisted that charges against him were bailable offences.

Agabi, a former Attorney General of the Federation and Minister of Justice, predicated the bail request on sections 32, 158 and 162 of the Administration of Criminal Justice Act, 2015, as well as Section 35 (1) of the 1999 constitution, as amended.

Ngwuta’s bail application was supported by a 14-paragraph affidavit that was deposed to by one Enoh Abasi Eboh.

“The defendant is presumed innocent until your lordship pronounces him guilty. My lord, these are grave charges and we take them seriously. In spite of the law, it is your discretion that matters and must prevail at the end of the day.

“The defendant has a title which no one can take away from him. He is more than anyone in this court, anxious to defend his name. If you grant him bail, he will attend his trial. There is no running away.

“Alternatively, I pray your lordship to grant the defendant an affordable bail. The law makes provision for bail on self-recognition. If a man of the rank and status of the defendant cannot get bail on self-recognition, it means that that portion of the law is no longer relevant”, Agabi submitted.

[size=13pt]Ngwuta’ll destroy evidence if bailed – FG[/size]

However, the Federal Government vehemently opposed Ngwuta’s bail application, insisting that the defendant had the capacity to interfere with prosecution witnesses.

According to the government, shortly after Ngwuta was granted administrative bail by the DSS, he quickly called one of the proposed witnesses to help him conceal some of the evidence against him, including N27million he hid in his bathroom at Abakaliki in Ebonyi State.

“We very regrettably have to object to the application for bail of the defendant. The defendant has placed all of us in this court room in very difficult situation. I ordinarily would not have objected to an application for bail in respect of a man of his calibre and standing. What we have in this situation is peculiar and unique in many aspects.

“There are sufficient ground of believing that the defendant will interfere with potential prosecution witness and or the evidence which might be adduced. We are of the opinion that there is a substantial likelihood that the defendant may conceal and or destroy evidence.

“The least of our worries is that the defendant may evade his trial. We are concerned about it, but we are not worried about it as the other factors I just mentioned”, head of the prosecution team, Mr. Charles Adeogun-Philips, stated.

In a 29-paragraph counter-affidavit deposed to by one Ganau Noma Wando, the Federal Government also told the court that barely 20 minutes after Justice Ngwuta was released from DSS custody, he called one of the witnesses, Mr. Nwamba Linus Chukwuebuka, to go to his house in Abakaliki and dispose off the money and cars in his compound.

“The first instruction was ‘Go and get rid of those cars’. The second instruction was ‘go into my bathroom at my residence where you will find two or three bags, get rid of it immediately’.

“If the witness had gotten into the bathroom and found bags stuffed with newspapers, we won’t be raising this objection today. But the bags contained N27m which they removed from the defendant’s residence to another place. We could not even find it again.”

The prosecution also told the court that the defendant also removed three exotic cars.

“As at October 9, the defendant was already aware that he was subject of investigation by the DSS. In fact, he had been in their custody for two nights and was interviewed for that 48 hours. He was aware that the subject matter of the items removed from his residence at Abakaliki would have been of interest to this investigation. This has put me in a very difficult situation, so much so that the defendant is charged with interference in count three.

“In count 10-16 in the charges, the defendant was alleged to have maintained multiple identities. My lord, in any jurisdiction in the world, if a person is found to have multiple identities, I cannot but object to his release on self recognition or being released at all.

“On October 8, a day before the call was made to Abakaliki, the defendant was found with four valid passports. Two of them were diplomatic passports while two were standard passports. It did not stop there, it transpired from investigation by the Nigerian Immigration Service that earlier in the year, the defendant had declared two of those passports lost.

“Now we are confronted with such acts of dishonesty, with offences committed while in administrative bail.

“However, if your lordship is minded to grant bail, we urge that it must be most stringent. It is not enough that he was found with four passports, but the NIS confirmed that he was using the passports concurrently and interchangeably.

“We only found four, there might be others. How do we know? When we searched his residence in Abuja we didn’t know there was N27m in his bathroom at his private residence located at Engineering Close, Off Onwe Road, Abakaliki Ebonyi State”, the prosecution counsel added.

It told the court that the witness, Nwamba, initially hid the bag that contained the N27m cash at the residence of one Abraham Ezeani in Abakaliki, saying the money “was subsequently dissipated by Mr Nwamba on the direct instructions of the defendant/applicant.”

It listed the three exotic cars that Ngwuta allegedly attempted to conceal, as a Hummer Jeep Sports Utility Vehicle, Wrangler Jeep Sports Utility Vehicle and a BMW 5 Series Sedan Vehicle which it said was quickly moved by the defendant to Clevero Hotel in Abakaliki, Ebonyi State.

The Federal Government said the properties which were derived from the “proceeds of an unlawful act”, were all subsequently recovered by investigators on November 11, following Nwamba’s arrest, weeks after the defendant had been released on administrative bail.

The Federal Government continued: “The sheer amount of raw cash either found on and/or concealed by the Defendant/Applicant following his arrest by the DSS, is indicative of the fact that he is a man of immense financial means and is sufficient ground for believing that if released on bail, he possesses the material ability to abscond and consequently not surrender himself for trial.

“In view of the foregoing, despite his position as a serving Justice of the Supreme Court bench, it cannot be said that the Defendant/Applicant conduct as outlined above, is that of a law abiding Nigerian citizen who will surrender himself to the court for trial.”

Ngwuta’s administrative bail not revoked –Judge

In his ruling, Justice Tsoho noted that despite the allegations the Federal Government raised against Ngwuta in the counter-affidavit, it still did not revoke the administrative bail it previously gave the defendant through the DSS.

He said there was room for such bail to be revoked once the person it was granted to was seen to have breached it in anyway.

Besides, the Judge said it was no longer secret that security agencies had been monitoring the defendant since the day he was released from custody.

He held that the objection by the prosecution was founded on theories of what the defendant would likely do, if granted bail, saying he was of the view that the Federal Government has the security apparatus to circumvent whatever action the defendant could take to scuttle his trial.

Justice Tsoho held that the essence of Justice would be defeated should the court curtail the liberty of the defendant based on mere suspicion.

He reproduced an affidavit that was deposed by an operative of the DSS on November 8, wherein it averred that investigation was already completed in the matter and wondered how the defendant could interfere with an investigation that was already completed.

“This court was not informed that the defendant attempted to escape while on administrative bail. Finally, I hold the respected view that offences against the defendant are bailable. No reason was adduced to stop this court from exercising its discretion to grant bail to the defendant.

“Consequently, this court is minded to grant the defendant bail in the sum of N100m on his personal recognition having regard to his status as a Justice of the Supreme Court of Nigeria”, Justice Tsoho held.

The court later fixed December 7 and 8 to commence full-blown hearing on the matter.

The prosecution had earlier informed the court that one of his witnesses was present and willing to immediately commence his Evidence-In-Chief.

It would be recalled that Justice Ngwuta was among seven superior court judges that were arrested between October 7 and 8, after the DSS raided their homes in what it termed “a sting operation”.

He was in the amended charge marked FHC/ABJ/C/232, and signed by a Principal State Counsel, Hajara H. Yusuf, alleged to have among other offences, stashed foreign currencies in his Abuja home.

The Federal Government said the DSS, at the end of the search operation, conducted at Ngwuta’s official residence, recovered several sums of cash, including the sum of Thirty-Five Million, Three Hundred and Fifty-Eight Thousand Naira (NGN35,358,000.00); Three Hundred and Nineteen Thousand, Five Hundred and Ninety- Six United States Dollars ($319,596.00); Twenty-Five Thousand Nine Hundred and Fifteen Pounds Sterling (GBP 25,915) and Two Hundred and Eighty Euros (E280.00).

Documents sighted by Vanguard revealed that the Federal Government has lined-up five witnesses that will testify against Ngwuta.

The witnesses are Aminu N Ibrahim, who is to testify on the search conducted on the defendant’s residence on or about October 7 and 8; Ngo Awoikiega, who will testify on the investigation/interrogation of the Defendant.

Others are Mr. Tanko Nuhu Kutana, an Immigration Officer, who will testify on the multiple Diplomatic and Standard Nigerian Passports obtained by the Defendant.

Ogudu Nwadire will tell the court how, as an Architect to the defendant between 2014 and 2016, he handled several projects for which he received cash payments totalling $100,000.00.

While Nwamba Linus Chukwuebuka will testify on how, as a building contractor to the defendant between 2014 and 2016, he handled several projects for which he received cash payments from the Defendant totalling $1,000,000.00.

The DSS official responsible for the investigation of the case, Bamai Abu Nehemiah, had deposed an affidavit of completion of investigation into the matter.

According to him: “That I was informed by Hajara H. Yusuf, a Principal State Counsel in the Department of Public Prosecutions of the Federation at her office at the Federal Ministry of Justice, Abuja FCT on Monday, 18th day of October, 2016 at about 12 noon that it is the opinion of the Department of Public Prosecution that the investigations conducted in this case have so far revealed a prima facie case against the Defendant.”

Among exhibits the Federal Government said it would tender against the defendant, include search warrant; cash recovered from the defendant’s residence; Video CDs of the defendant’s interview; Statement of the defendant dated October 12, 17, 24, 25 and 27 as well as statements of all the witnesses made from November 7 to 13.

Others are House Upkeep And Project Account by Ogudu Nwadire, Photographs search at the Defendant’s House, NIS Data base printouts of the Defendant’s e-passport (both standard and diplomatic); Defendant’s travel history; Sworn Affidavit submitted by the subject prior to renewal/cancellation of any one of his passports; E-Official/Diplomatic Passport Data Form, Bill of costs and Order of Payment from Base 4 Services Ltd by Nwamba Linus Chukwuebuka, Pictures of houses under construction belonging to the Defendant.

NaijaMutant:
Lie Mohammed our greatest liar



If not for social media

We would all be zombies

KENNING2010:
Pls say something,

obstead200:
i dont know if this infor is true. because management of the vault keys no be small matter. no single person is allowed to hold the keys and manage the vault. they are always two people who must operate different keys and aa combination lock to open a vault.

but if the info is true, then the HBO/HOP, head teller/cash officer and the resident auditor (if they have one) can kiss their jobs goodbye.

olihilistic:
with that kinda boby I'm ready to be a verified olodo.

olihilistic:
aside that.
it's the source of fresh spérm.
and it gives a fresh brain.

olihilistic:
don't you know the health benefit of booby?

olihilistic:

jonili:

olihilistic:

semi succulent.

Jarizod:
I won't lie..those boobies looks delicious

pyyxxaro:
I like use better Koboko whip this gal for back
I just like see how her face go be

Oko blamed the economic situation for his action, stating that he had never been involved in a criminal act before now..

“The devil of economy recession pushed me into the crime; I have never committed a criminal act before, luck ran out on me and I was caught in the process,” he stated.

jonili:
the body odour is too offensive