₦airaland Forum

A Seventh Prosecution Witness, PW7, in the trial of a former governor of Central Bank of Nigeria, CBN, Godwin Emefiele on Monday, March 11, 2024 told Justice Hamza Muazu of the Federal Capital Territory, FCT, High Court, Abuja, how Emefiele allegedly signed and approved award and payments of contracts to April 1616 Investment Limited and Architekon Nigeria Limited,  companies that allegedly belong to Sa’adatu Ramalan Yero,  his wife,  Margaret Emefiele and his in-law respectively.

 The witness,  Agboro Michael, an investigator with the ICPC,  led in evidence by the prosecution counsel, Rotimi Oyedepo,SAN, was part of the investigation team that comprised the EFCC, ICPC, CCB, DSS and the Nigerian Police .  He testified on the count-charge of abuse of office and conferring  an unfair advantage to a public officer and relatives, preferred against Emefiele.

“My Lord,  these companies were awarded about 45 contracts to supply Toyota Vehicles. We were worried as investigators as to how a particular company would get bids concurrently to supply vehicles. We did our investigation, and discovered that the company was not even accredited by Toyota.

“In the companies my Lord, one has Sa’adatu’s husband and siblings as directors, and the other one has Sa’adatu as the director of the company while she is still a civil servant.

“Document ‘F1’ shows the signature and approval of the defendant to pay the sum of N854, 700,000 (Eight Hundred Fifty-Four Million, Seven Hundred Thousand Naira) His signature was number three on the document”, he said. Testifying further, Michael said in ‘F3’, the defendant approved 1, 85,700,000 (One Billion, Eighty-five million, Seven Hundred thousand) for the supply of 47 units of Toyota Hilux.

While ‘F4’ was the defendants approval to purchase for the bank an armoured Toyota Avalon car at the cost of N99,900,000 (Ninety-Nine Million, Nine Hundred Thousand Naira), and ‘F5’ was the approval to procure two units of Toyota Hilux for the bank, and all were bought from April 1616 Investment limited.

Speaking on the findings of the investigative team on exhibit P26, page 86 of 107 on November 6, 2021. Michael said; “It is a credit into the account from the CBN to the tune of N41, 943, 400, 34 (Forty-one Million, Nine Hundred and Forty-three Thousand, Four hundred and Thirty four kobo).

“Page 87 was also a credit in April 2016 from the CBN, N304, 853, 50 (Three Hundred and Four Million, Eight Hundred and Fifty Three Thousand naira, Fifty kobo).

“26 January, 2021, April 1616 Investment Nigeria limited also received N304, 853, 720, 55 (Three Hundred and Four Million, Eight Hundred and Fifty Three Thousand Seven Hundred and Twenty Naira Fifty-Five kobo) from the CBN.

“On the 10th of February, 2021, the CBN paid N201, 23, 323, 31 (Two Hundred and One Million, Twenty-Three Thousand, Three Hundred and Twenty-Three Naira, Thirty-One kobo).

The approval of payment of March 24, 2021 was N304,843,720,85, April 27, 2021 was 60,976,744,17 (Sixty Million, Nine hundred and Seventy Six thousand, Seven hundred and forty-four naira, Seventeen kobo) May 31, 2021 was a payment of 60,976,744,17 (Sixty Million, Nine hundred and Seventy Six thousand, Seven Hundred and Forty-four Naira, Seventeen kobo), and February 21, 2021 was a payment of N50,547,508,30 (Fifty Million, Five Hundred and Forty-Seven Thousand, Five Hundred and Eight Naira Thirty kobo) were equally approved by the defendant.

The witness further told the court that the team recorded the defendant’s statement under caution and video recorded in a conducive environment.

Testifying further, the witness said; “In 2019, again, we discovered the defendant also used his office and position to confer a corrupt advantage to one of the staff of CBN, Sa’adatu Ramalan Yero to supply one unit of Toyota Land Cruiser V8 at the cost of N73, 800,000 (Seventy-Three Million, Eight Hundred Thousand to her company April 1616 Investment Nigeria limited where she is a director, and equally a director in the CBN.

“Again my Lord, the defendant also approved the payment of renovation of the CBN Governors’ residence at No 2. Global road, Ikoyi Lagos to a company named; Architekon Nigeria Limited where his wife and brother-in-law are both directors.

“Sometime in 2020, the defendant used his position as CBN Governor to confer on his wife and brother in-law corrupt advantage by awarding their company landscaping of the CBN governor’s residence in the sum of N39,46,000 (Thirty-Nine Million, Forty Six Thousand Naira”,he said

Continuing, Michael said a contract to procure furniture items was also awarded to his brother in-law in the sum of 97,000,000 ( Ninety Seven Million Naira), and again, a contract to procure a power line at the same CBN Governor’s residence in the sum of N68,568,740 (Sixty-Eight Million, Five Hundred and Sixty-Eight Thousand, Seven Hundred and Forty naira).

While cross examining the witness, counsel to the defendant, Matthew Burkaa SAN queried the witness that though there are many signatories in the memo only his client was on trial. In response, the witness told him that the defendant was on trial because he was the approving authority, while others only minuted on the documents to justify the process, and didn’t have the power to make such payments and approvals.

Burkaa also wanted to tender the defendant’s statement at the Nigerian Police force before the court, but Oyedepo objected, stating it was a public document and needed to be certified before it can be tendered as an exhibit. Burkaa then withdrew the document and promised to provide the true certified copy at the next adjourned date.

Justice Muazu thereafter adjourned the matter till 25 and 26 April, 2024 for continuation of trial.

Former President Muhammadu Buhari has commended the efforts of President Bola Tinubu, stating that Tinubu has done well since assuming office on May 29, 2023.

Buhari made the remarks during a meeting with the Comptroller-General and members of the management team of the Nigeria Customs Service in Daura, Katsina State.


Despite the country’s current economic challenges, Buhari expressed his appreciation for Tinubu’s performance, acknowledging the complexity of Nigeria’s issues.

According to him, there isn’t much that anyone can do due to the intricacies of the nation

He also asked Nigerians to endure the country’s economic hardship and support the current administration’s policies and programmes.


His words: “I thank you very much for coming. I very much appreciate it. I thought Tinubu has done very well.

”Nigeria is so complex. Really, there isn’t much anybody can do.”

The Human Rights Writers Association of Nigeria (HURIWA) has raised serious concerns over what it perceives as entrenched bias against the Igbo ethnic group in President Bola Tinubu’s recent appointments.

HURIWA alleged a continuation of the “winner takes all” system, favouring Tinubu’s southwest region and leaving other ethnic groups, particularly the Igbo, underrepresented.

According to HURIWA, an analysis of Tinubu’s appointments, as revealed by activist Deji Adeyanju, suggests a pervasive ethnic bias within the administration, particularly in the Central Bank of Nigeria (CBN), where directors were reportedly replaced with individuals from a specific ethnic background.

Emmanuel Onwubiko, the National Coordinator of HURIWA, in a scathing statement, cited constitutional provisions, including sections 14(3) and 147(3) of the 1999 Constitution, which mandate government appointments to reflect the diversity of Nigeria’s ethnic and cultural landscape.

The group emphasized that such biased appointments violate these constitutional provisions and risk exacerbating ethnic tensions.

HURIWA asserted that political interests should not take precedence over the welfare and rights of all citizens, emphasizing the need for impartiality and fairness in governance.

Part of the statement read: “The implications of Tinubu’s ethnically- biased appointments are deeply concerning, as they not only undermine the principles of fairness and inclusivity but also exacerbate ethnic tensions and sow seeds of division within Nigerian society.

“By perpetuating tribal favouritism, Tinubu risks further marginalizing minority ethnic groups and fueling resentment and distrust among different communities.

“By marginalizing the Igbo and other ethnic groups, President Tinubu risks alienating a significant portion of the population and perpetuating ethnic tensions.

“This deliberate exclusion could exacerbate existing grievances and fuel resentment, ultimately posing a threat to national stability and unity.

“As a leader, President Tinubu has a responsibility to govern with impartiality and fairness, regardless of electoral considerations.”

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papyjaypaul:
This is one of the decisions Tinubu will regret. Nigeria is bigger than Lagos. I can see emperor style in his leadership because he was advised not to remove subsidy but he announced it. Since no one can challenge Emperor, all the boys will fall in line and they started his administration on a plan they were not ready for. Can you imagine preparing for World Cup and they announce to you that you will play Beach Soccer next year?

Are they humble enough to admit that what has been done is wrong or they want to review their decision seeing the effects now? THIS government plays politics more than governance, this will prevent them from achieving much impact because 2027 has been on their lips even as at last year. There is time for politics, there is time for administration. They don't seem to get it. Just praise singing and propaganda, when Nigeria is the bigger project

Putindbutt:
I thought you followed CBN and its MPC guidelines, mopping up excess cash was a key indicator and already being in effect. do you think we can sail smoothly without weathering the storm.

Putindbutt:
Let's push it?, na wheelbarrow?. I can't understand how you guys are bad students of knowledge, you have been told Emefiele printed 22trillion without considerable economic activities to back it up. If you can't understand the attendant effect, nobody can help you.

Ola9ja23:
What those economist saw while bending you can't see it even if you fly up

Sani Abdullahi a teacher at Government Secondary School Kuriga, Chikun LGA of Kaduna state has disclosed that one person was killed while about 280 pupils including teachers were abducted by bandits who invaded the secondary and primary schools in the community.

The bandits were said to have invaded the schools located in the same proximity on Thursday at about 8am.

The teacher gave the total number Thursday evening when the Kaduna state governor, Senator Uba Sani, along side government officials visited the area.

Abdullahi said that a member of the Kaduna state Vigilante Service (KADVS) was killed by the bandits while 187 students and 125 pupils were missing.
He added however that 25 pupils from the primary school later escaped and returned home.

“At GSS Kuriga, 187 students are presently missing. In the primary school, 125 pupils were initially missing, but, 25 of them escaped and retired home,” Abdullahi told the governor.

Narrating how the incident happened, he said that he resumed work by 7:47am and entered the Acting Principal’s office to sign the staff register.
He said, “All of a sudden, the Acting Principal asked me to look at my back and when I turned, we discovered that bandits had surrounded the school premises.
“We became confused, we didn’t know where to go. Then, the bandits ordered us to enter the bush, so we obeyed them because they were many.
So, when we entered the bush, I was lucky to escape alongside many other people.
“I returned to the village and reported what happened to the community.

“Immediately our vigilante and personnel of Kaduna Vigilante Service (KADVS) followed the bandits, but the vigilante did not succeed.
“The bandits killed one of the vigilante, we just buried him a short while ago.
“It was when we came back that we briefed the Village Head and we started making efforts to find out the actual number of pupils and teachers taken by the bandits.”

The Economic and Financial Crimes Commission (EFCC) has disclosed that a significant portion, approximately 70 percent, of financial crimes in Nigeria are linked to the banking sector.

Ola Olukoyede, the Chairman of the EFCC, revealed this during his speech at the 2023 Annual Retreat and General Meeting of the Association of Chief Audit Executives of Banks in Nigeria held in Abuja.

Olukoyede highlighted the growing prevalence of fraudulent activities within the banking industry, which presents substantial challenges and concerns for the commission.

Represented by Idowu Apejoye, the EFCC’s Director of Internal Audit, Olukoyede stressed the necessity for collaborative efforts among relevant authorities and industry professionals, particularly audit executives, to proactively address and combat fraudulent activities within the sector.

He outlined that banking fraud in Nigeria encompasses both internal and external elements. Internal fraud involves activities such as misappropriation of customers’ deposits, unauthorized loan approvals, forgery, and other illicit practices. External fraud includes hacking, ATM fraud, conspiracy, among others. Particularly concerning is the collaboration between insiders and outsiders in perpetrating fraudulent acts.

“Broadly speaking, banking fraud in Nigeria is both inside and outside related. The inside related fraud comprises outright selling of customers’ deposits, authorising loan facilities, forgery and several other kinds of unhealthy and criminal practices.”

“The outsider related ones include hacking, ATM fraud, conspiracy, among others. And then the absurd one is when both collaborate, that is collaboration among the bankers and the outsider.”

“That one is the one that is really absurd because when you do that, that means you are selling out the system. It is estimated that about 70 per cent of financial crimes in Nigeria are traceable to the banking sector, this scenario is disturbing and unacceptable,” he said.

Rivers State Governor, Siminalayi Fubara, says he is willing to give up his office for peace to endure in the State.

The governor made this known in an interview with African Independent Television, AIT.

Recall that Gov Fubara and the former governor of the State, now the Minister of the Federal Capital Territory, FCT, Nyesom Wike, have been enmeshed in a political crisis as a result of political differences.

The power tussle in Rivers over the last two months has attained a dramatic height, creating tension and anxiety before the intervention by President Bola Tinubu.

Amid the crisis, Wike was alleged to have demanded a certain percentage of Rivers revenue, a claim he has denied.

There was also an attempt by the State House of Assembly to impeach the governor.

The Assembly complex was bombed in the process, with Wike accusing Fubara of orchestrating the act.

Also, twenty-seven members of the State House of Assembly loyal to Wike defected from the Peoples Democratic Party, PDP, to the All Progressives Congress, APC, in an attempt to impeach the governor.

Tinubu would later move in to end the rift by brokering peace between Wike and Fubara, which many believed put Fubara in a disadvantageous position.

However, the Governor is now saying that no sacrifice would be too big for him to pay for the success of the administration.

Fubara said he was more worried about the fate of Rivers people who had made sacrifices.

He said: “No sacrifice would be too big for me to pay for the success of this administration. And the reason is simple: it’s not political love. It’s not because I want to gain any favour from anybody, my interest and love for our dear state is genuine. I am not trying to say I want to be one man that will be there to decide the fate of all. No. But let Rivers State remain.

“My burden at that time was not the issue of all the drama, it is the issue of Rivers people who have made sacrifice, who are seeing opportunity, and it looks as if their hope has been dashed. They were the one I was worried about; what would be their fate, that was my trouble, it was not about me.

“If leaving this position is what I need or what is needed to bring more peace to the State, I can even tell you to come and take it. It’s not about me. People should know although definitely I am here, I will go but Rivers State will remain.

[i]“I’m the governor, there are things I could have done and there would be total crisis but the ability to restrain in the face of crisis even when you have the power to do things is maturity.”

Acidosis:
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