₦airaland Forum

True talk...

It has started......You spent your time trying to destroy 'Okorawusa';

Uzodinma spent his time plotting against you!

[img]https://media1./images/486c5c5c4f66eac55b035ba6dcbe4594/tenor.gif?itemid=8134339[/img]

It has started....

[img]https://thenationonlineng.net/why-i-ordered-freezing-of-imo-accounts-uzodinma/[/img]

Governor-elect of Imo State, Senator Hope Uzodinma, says he ordered the freezing of the accounts of the state government because of the Supreme Court judgement declaring him as the duly elected governor of the state on Tuesday.

In a letter dated January 14, 2020, Uzodinma ordered all financial institutions where the state funds are maintained not to honour any draft till further notice.

The letter addressed to the regional directors and managers of all the financial institutions in Imo State and signed by Cosmos Iwu, director-general of Senator Hope Uzodinma Campaign Organisation, on behalf of the governor-elect, ordered the financial institutions to “post no debit” on all the accounts.

The letter which was titled, “Order of post no debit on all accounts of Imo State government effective 14, January 2020” stated that the order was sequel to the apex court judgment which declared Uzodinma the new governor of the state.

https://thenationonlineng.net/why-i-ordered-freezing-of-imo-accounts-uzodinma/

Paedo don enter.....

[img]https://media1./images/54451401d52c0dd2fe9ee5752857d53c/tenor.gif?itemid=3579864[/img]

Here to learn....Mompholosophy

[img]https://media1./images/54451401d52c0dd2fe9ee5752857d53c/tenor.gif?itemid=3579864[/img]

The N32.9 billion fraud trial of alleged internet celebrity, Ismaila Mustapha (alias Mompha), on Wednesday, continued before a Federal High Court in Lagos State.

Mr Mustapha is charged by the Economic and Financial Crimes Commission (EFCC) on 14 counts bordering on fraud, money laundering and operation of a foreign exchange business without the authorisation of the Central Bank of Nigeria.

He was arraigned alongside a firm, Ismalob Global Investment Ltd.

He pleaded not guilty to the charges, and was granted bail in the sum of N100 million with one surety in like sum.

EFCC accused the defendant of procuring Ismalob Global Investment Ltd. and retaining in its account, an aggregate sum of N32.9 billion between 2015 and 2018.

The prosecution has since opened its case and had led several witnesses in evidence.

When the case came up on Wednesday, the Prosecutor, Rotimi Oyedepo, continued examination of the fourth prosecution witness, Matthew Enu-Obun.

Mr Enu-Obun, a staff of the Special Control Unit Against Money Laundering (SCUML), told the court that looking at the transaction of Dec. 14, 2015 to Jan 25, 2018, there was no reports made.

He said from available records, the said transactions were never reported to SCUML by the company, Ismalo Global Investment Ltd., the second defendant.

When Mr Oyedepo asked the witness who signed Exhibit C (a reply to the investigation activities on the defendant), he answered, “I signed it.”

Under cross-examination by defence counsel, Gboyega Oyewole (SAN), the witness told the court that he had been with SCUML years since 2006.

He said he worked in the compliance department and had steadily got promoted up to the position of a principal compliance officer.

Mr Oyewole then asked the witness, “So, you have never been in the operations department?”

The witness replied, “No.”

When asked the full meaning of DNFI, the witness said that it stood for Designated Non-Financial Institutions

He said they are categories of businesses which are designated such as casinos, supermarkets, chartered accountants and lawyers.

The trial will continue on February 26.

In the charge, the prosecution alleged that Mr Mustapha laundered N32.9 billion through Ismalob Global Investment Ltd. from 2015 to 2018.

Both defendants were alleged to have negotiated foreign exchange transactions in various sums such as N9.4 million, N20 million, N10.4 million, N2.4million, N100 million, N61 million, N40.7 million and N42 million, among others.

Mr Mustapha was alleged to have aided the Ismalob to retain in its account, an aggregate sum of N14 billion procured from Pitacalize Ltd.

The alleged offences contravene the provisions of sections 15(2) and 18(3) of the Money Laundering (Prohibition) Act, 2011 as amended.

https://www.premiumtimesng.com/news/more-news/372785-n33-billion-alleged-fraud-efcc-resumes-trial-of-mompha.html

https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2019/10/Screenshot_20191022-224420.png?w=720&ssl=1

She planted juju.........that's what the red cap in the background is thinking.

She;s in a danger zone right now......she for give am some space!

The revenge will be bloody.

Joshua

Mbaka

Charlatan?

Air peace all the way....igbo amaka

Ihedioha is locked inside......free the rat.

let the loot be restored....

Let him not stain that desk with his tears......he needs to start packing!

The management of the University of Port Harcourt, UNIPORT, has arraigned Professor Andrew Efemini and his mason, Richard Nwaogu before a Magistrate Court sitting in Choba community, Obio-Akpor Local Government Area of Rivers State on a three-count charge bordering on stealing.

According to the charge, Professor Efemini and Nwaogu conspired to steal three buckets of chippings and three slabs belonging to the University Management valued six thousand naira.

The Professor is accused of stealing the materials meant for the repairs Professor’s quarter within the premises of UNIPORT and thereby committed an offense punishable under the Criminal Code Law of Rivers State.

DAILY POST reports that the accused pleaded not guilty to the charges and was granted bail to the tune of one hundred thousand naira by Chief Magistrate, Israel Agbaesor who thereafter adjourned till 11th, 18th, 29th of June and 9th, 21st and 30th of July 2020 for trial.

Counsel to the accused persons, OC Higher-King, described the charges against his clients as laughable and misfire, threatening to institute legal action against the university on the recent development.

Counsel to University of Port Harcourt declined to speak on the matter.

DAILY POST observed that Professor Andrew Efemini has been in a running battle with the Vice-Chancellor of UNIPORT, Professor Ndowa Laale.

Efemini recently dragged the Vice-Chancellor of UNIPORT, Professor Laale and the University Management to a Federal High Court in Port Harcourt over alleged illegal increment on school fees, his illegal suspension and alleged missing misappropriation of funds by the VC.

https://dailypost.ng/2020/01/14/uniport-arraigns-own-professor-over-alleged-n6000-theft/

The story seems upside down

A Nigerian oil producer thought it had received a critical $184 million loan from a sovereign wealth fund to drill and develop an offshore field.

The company, Lekoil Ltd. LSE, -0.26% , told the London Stock Exchange on Jan. 2 it had received the loan from the Qatar Investment Authority.

The terms seemed favorable — an upfront fee of 2.75% and a 3.72% annual payment, arranged by a consultancy firm that specialized in African transactions.

Its CEO, Lekan Akinyanmi, pledged his full 39.1 million–share stake to get the loan, so the company said it would cancel a $1.7 million loan it had previously made to him as well as grant an award of up to 30 million shares depending on performance.

All was well until Sunday, when the Qatar Investment Authority got on the phone to the company’s advisers with some bad news: It had no idea Lekoil was talking about.

In a new statement to the London Stock Exchange, Lekoil said it was the victim of a “complex fraud in order to masquerade as representatives of the QIA.”

Lekoil shares plunged 73% on Tuesday after a trading halt Monday.

Lekoil said it had performed due diligence, meeting with people it thought were QIA representatives, and also carrying out legal and technical due diligence. Lekoil also performed what it said was due diligence on the consultancy firm, Seawave Invest Ltd., and sought legal advice.

An email sent to an address on Seawave’s website was not returned.

Lekoil said it’s out $600,000, though it’s trying to recover the fees. “Whilst Lekoil will take all reasonable actions to recover the fees paid to Seawave, there can be no guarantee that such attempts will be successful,” the company said.

It’s also scrambling to get financing in place, and could be forced to sell its stake in an oil block off Lagos, Lekoil said. Optimum Petroleum Development is the operator of the field.

Mark Simmonds, who joined the company last month and previously was a minister in the U.K. Foreign Office when David Cameron was prime minister, will lead the investigation alongside Tony Hawkins, who is chief executive of another U.K.-listed oil firm, Columbus Energy.

A spokeswoman for Lekoil said it wouldn’t comment further due to the investigation.

https://www.marketwatch.com/story/nigerian-oil-producer-duped-into-thinking-it-received-184-million-loan-from-qatar-2020-01-14?mod=home-page

Hopefully he'll wear his 'red cap...............and not 'bad luck green'

How is this massive? Na normal footfall.

Na wa ohh......

Psychology.....

See corruption.......Buhari the deceiver.

If moni dey the mama go produce the child..
..

Major setback awaits Nigerian economy as more foreign oil companies prepare to exit

Strong indications have emerged that Nigeria’s oil and gas industry may suffer a major setback this year as some International Oil Companies (IOCs) in the country seem poised to divest their stakes and exit the country for want of favourable sector reforms.

S & P Global Platts, a provider of energy and commodities information headquartered in London, in a recent report disclosed that the much-awaited turnaround in the nation’s oil sector in 2020 looked impossible, considering the potential of President Muhammadu Buhari-led economic model to frustrate efforts to raise oil production in the short term and even beyond.

Mr Buhari had last November taken a drastic measure to increase taxes on companies operating in the nation’s deepwater blocks, a gesture aimed at amassing greater revenue for the government, though the move has the far-reaching implication of putting off International Oil Companies (IOCs) from Nigeria and consequently impeding output growth.

Read also: Oil soars past $70 on the back of US-Iran tension: What it means for Nigeria’s 2020 budget

According to the current structure, foreign oil firms account for over 70% of investment in the oil and gas sector in Nigeria, itself Africa’s largest oil producer.

In the same month President Buhari hiked the taxes, California-based global oil giant, Chevron kick-started a divestment process that would sell off its 40% stake in two Nigerian shallow water leases, a move that put further strain on the fragile 116-year old relationship between the firm and the country.

Sometimes last April, Exxon Mobil Corp held talks with potential local investors in a bid to sell its investment in Nigerian oil and gas fields worth about $3 billion.

https://www.ripplesnigeria.com/major-setback-awaits-nigerian-economy-as-more-foreign-oil-companies-prepare-to-exit/