₦airaland Forum

By Gbenga Ogunleye

There have been interesting events in the political terrain in the past few weeks, but the one that has gained unnecessary attention was this allegation by Alhaji Abubakar Atiku, presidential flag-bearer of the opposition Peoples Democratic Party, (PDP) that the president, Mohammadu Buhari and his family owned shares in Etisalat and Keystone Bank. He also called for probe into the substantial shares in Etisalat now known as 9mobile which has an estimated $2b (about N727b at 360 per dollar) of its estimated $20b global net worth.

No doubt, all that have transpired in the political circles do not spring any surprise to many a political watcher, because we know it is all politics, going by the fact that 2019 elections are just few weeks away and this has elicited desperations from desperate politicians. However, the masses, nay the electorate will end up getting more confused as a direct product of spurious allegations like the aforementioned.

Luckily, a group of investors in Lagos have put things in the right perspectives, declaring that the sale of the two companies followed due processes with the involvements of industry regulators. They affirmed that neither President Muhammadu Buhari nor his family members owned shares in either Etisalat or Keystone Bank.

The above explanation should have put paid to further grumbling over who owns either 9mobile or Keystone Bank.

But it is so unfortunate that Nigerian politics have been reduced to this appalling dimension where an aspiring leader or leaders would leave issue-based discussions and campaigns to embark on mud-slinging and false claims. We as Nigerians expect our politicians to tell us what they have in stock for us when they claim the mantle of leadership, instead of beating about the bush just to hoodwink us.

In recent times, careless talks and spurious allegations have had telling effects on businesses, Nigerians and it is high time we exercised restraints to save the nation. Are our youths truly lazy? Succumbing to the carrots dangled by these politicians and helping them to spread their lies, peddling unfounded stories? Nigerian youths, this is a clarion call to put on your thinking caps ahead of the election.

In a saner clime, the miraculous transformation experienced by Keystone Bank which was almost a dying entity a few years ago, would have attracted kudos and commendations from both the general public and politicians alike. It would be recalled that after many years in the doldrum and following its most recent acquisition by Sigma Golf-Riverbank consortium, Keystone Bank, for the half-year ended June 30, 2018, recorded a Profit Before Tax of N5.9billion compared with a loss of N7.1billion over the same period in 2017 while deposits have grown from N209billion in August 2017 (when the new management came on board) to N358billion as at November 2018.

On the part of 9mobile, the Investor Group had said after about a year of back-and-forth process of selecting a preferred bidder for the sale of 9Mobile, formerly Etisalat, the Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) jointly, in their roles as regulators opted for an innovative approach to deal with a distressed company operated by Emerging Markets Telecommunications Services Limited (EMTS) which its predecessor, Mubadala Group, Etisalat International brand pulled out of the country due to massive debt.

At this point in Nigerian history, politicians are expected to show maturity in their chase for political positions rather than heat up the polity in a way that would further damage an already dented economy.

Nigerians should be asking the candidates to present their manifesto/ plans to re-energize the economy rather than falling for their cheap tricks to distract us from the real issues.

Hopefully, 2019 will not be the usual tea party.

- Gbenga Ogunleye, a political analyst wrote from Lagos, Nigeria.

READ MORE HERE: https://www.witnessngr.com/leave-keystone-bank-9mobile-alone-share-your-manifesto-with-nigerians/

Why should customers move their money? This is politics.

You will soon see Atiku and Buhari at a family function together. Na we be the mumu wey dem dey take play with all these stories. Abegii

Popular business blog hatches plot to blackmail Keystone Bank



A popular Nigerian business news blog has been exposed while trying to blackmail one of the fastest growing banks recently.

Information filtering in revealed that the business news blog and its publisher (names withheld) recently strategised their plots to blackmail Keystone Bank Limited and its managing director/CEO, Dr. Obeahon Ohiwerei.

According to sources close to the bank, the publisher of the blog had contacted Keystone Bank demanding a whopping N40 million to ‘kill’ purported stories which was discovered to be a fabrication of lies and allegation against the financial institution and its managing director/CEO.

The publisher was told point-blank that the bank could not afford such amount of money. It was learnt that the publisher whose name starts with a ‘O’ and blog name starts with a ‘P’ was undaunted in his plan to obtain from the lender and its leadership. He therefore quickly pegged down his demand to N15 million, a negotiation which the bank also declined immediately.

Angered that his plot to blackmail the bank was becoming unsuccessful, the publisher threatened to publish the false stories to rubbish the bank and its CEO.

When contacted, a staff of the bank who doesn’t want his name in the print confirmed the story. According to him, after building its reputation to its present standard, Keystone Bank will not succumb to cheap blackmails or any blackmail for that matter.
“We are waiting for him to make good his threats. I can assure you that the bank will not hesitate to use all legal means to seek redress as a deterrent to other unscrupulous elements out there,” he said.

One of Nigeria’s financial institutions, STERLING BANK PLC, is in the news again for the wrong reasons.

This time, a customer of the Abubakar Suleiman-led Sterling Bank has again lost over N2.4 million to a fraudulent official of the bank.

The staff, one Ebenezer Alonge, a cashier with Sterling Bank’s Ado-Ekiti branch, alongside his wife, Isakunle Oyinlola and his mother-in-law, Isakunle Moradeke, have been arraigned by the Economic and Financial Crimes Commission (EFCC), for allegedly diverting N2.4m deposited by a customer.

One of the Count Charge preferred against reads: That you Ebenezer Adeolu Alonge ‘M’ , Isakunle Olamide Oyinlola ‘F’ and Isakunle Eunice Moradeke ‘F’ between the month of January 2017 and March 2017, at the premises of Sterling Bank PLC Ado-Ekiti branch, did steal the sum of N2,400,800.00 (Two Million, Four Hundred Thousand and Eight Hundred Naira) only property of Sterling Bank, by diverting same to the personal account of Isakunle Olamide Oyinlola with account number, 0047750660 and the personal account of Isakunle Eunice Moradeke with account number 0064222881, all with the Sterling Bank, Ado-Ekiti branch, being money for Ekiti State Primary and Secondary Education Development levy, and thereby committed an offence”.

The defendants, however, pleaded ‘not guilty’ to the charges preferred against them

According to a statement by the EFCC acting spokesman, Tony Orilade in Abuja, it was alleged that sometime in February, Sterling Bank


READ MORE HERE: https://www.witnessngr.com/again-sterling-bank-staffer-steals-customers-n2-4million/

Keystone Bank Limited, Nigeria’s most innovative banking services provider has partnered with EbonyLife Films to premiere the movie, ‘Chief Daddy’.

The event which held at the popular Oriental Hotel, Lagos on Sunday December 2, 2018 was graced by a long guest list of dignitaries, celebrities, members of the diplomatic corps, business heavyweights, socialites, politicians and lovers of arts.

Speaking at the epoch-making event, the Group Managing Director/CEO of Keystone Bank Limited, Dr. Obeahon Ohiwerei said “the bank will explore every good platform to deepen its strength in the retail and youth segment. He reiterated that the bank’s sponsorship of the movie aligns with its corporate objectives of supporting SMEs and empowering enterprising entrepreneurs.

“By partnering this movie, Keystone Bank is actively promoting the culture of personal fiscal responsibility by encouraging everyone, young and old to take advantage of the bank’s expertise to learn about and set up financial instruments that will give them and their loved ones an assurance while they are here and long after.” Ohiwerei stated.

Dr. Ohiwerei further disclosed that Keystone Bank, which recently signed up popular Nollywood actor, Funke Akindele Bello, popularly known as ‘Jenifa’ as its official brand ambassador, prides itself in its ability to hand-hold different sectors of the economy in order to nurture them and help them to grow.

While commending the producer of the movie, the Keystone Bank boss said “I salute Ebony Life TV for their innovation and Mo’ Abudu their CEO for her entrepreneurial drive. These values resonate with our culture at Keystone Bank. It is remarkable projects like these that have served to place the Nigerian Movie industry on the global market.”

Commenting on the movie which will be in cinemas from Dec. 14th, EbonyLife Films CEO, Mo’ Abudu explained that the movie, ‘Chief Daddy’ is centered on the life of an extravagant and larger-than-life billionaire industrialist, Chief Beecroft, who is known to be a pillar of the society. All seems well in the Beecroft household until Chief Daddy passes away and suddenly the ‘wheels begin to turn’ and things go awry.

The film stars Nollywood veterans and new faces including, Nkem Owoh, Bisola Aiyeola, Ini Edo, Joke Silva, Dakore Akande, Richard Mofe-Damijo, Folarin Falana and Patience Ozokwo.

At the event, Nigerian celebrities stepped out in their traditional attires. The cast members and guests alike, took the theme ‘Opulently Nigerian’ seriously and showed up representing various ethnic groups in the country.

The premiere was also attended by the wife of the Vice President of Nigeria, Mrs. Dolapo Osinbajo,the Deputy Managing Director of Keystone Bank Limited, Mr. Abubakar Sule, Executive Director, Corporate Banking & South, Keystone Bank Limited, Mr Yemi Odusanya, Dr Taiwo Afolabi, CEO Sifax group and a valuable Customer of Keystone Bank, Lagos APC 2019 governorship candidate, Mr. Babajide Sanwo-Olu and wife, Lagos PDP 2019 governorship candidate, Mr. Jimi Agbaje and wife, Mr. Oscar Ibru, President of African Public Relations Association, Mr. Yomi Badejo Okusanya, amongst others.

Since its recent acquisition by Sigma Golf – Riverbank consortium, Keystone Bank Limited, a technology and service-driven commercial bank, offering tailor-made convenient and reliable solutions to customer’s needs has been on upward swing.

READ MORE HERE: https://www.witnessngr.com/keystone-bank-restates-commitment-to-supporting-entrepreneurs-sponsors-chief-daddy-movie/

A Federal high court sitting in Lagos south west Nigeria has adjourned till 10th of December, 2018 for report of settlement or trial if amicable settlement fails, the suit instituted by a

Lagos business man Rev. Chukwuemeka Ngubo and his company Elim Motors Nigeria Limited against Ecobank Nigeria limited for allegedly buying United States Dollar on their behalf at the rate of N475 to one United States Dollar whilst the Central Bank approved rate was at N300 to one United States Dollar as at the time of purchase.

By wrongfully sourcing foreign exchange from the parallel market,the Plaintiffs alleged that Ecobank exposed them to the sum of over N2Billion loss.

By the provision of the Foreign Exchange (monitoring and miscellaneous Provisions )Act, Cap F34,laws of the Federation of Nigeria 2004,Ecobank ought not to have sourced foreign exchange from the parallel market

The plaintiffs further averred that, the action of the bank is in flagrant breach of the Central Bank of Nigeria’s extant rules regulating the conduct of foreign exchange transactions in Nigeria which has adversely affected the credit rating and financial credibility of the company to the benefit of the bank.

According to statement of claim filed before the court ,The Plaintiffs aver that pursuant to the banker-customer relationship between Ecobank Nigeria limited and Elim Motor limited,the bank had, in the past granted Elim Motor limited several credit facilities which the company always repaid as at when due.

The company averred that,it applied for and the bank issued a bank guarantee in the sum of $12million in favour of Credit Trading Company ,through Deutche Bank AG London in the sum of $8,750,000, By the foregoing the plaintiffs aver that, a balance of $3,250,000 was left unutilised.

The loan was secured with the following.
1.lien on cash Collateral of N200 million being held at the bank’s Treasury Department.
2.legal mortgage on blocks of lecture Halls Complex student centre Okota, Isolo Lagos State valued at N383Million.
3.Legal Mortgage on Block of Lecture hall complex at Elim Mordern Student Centre Okota.
4.Stock Hypothecation of one Billion Naira.
5.Persobal guarantee of the Managing Director with a notarised statement of net worth
6.Promisory note of Elim Motors Limited for the payment of all present and future principal and outstanding balances in the account.

Upon the expiration of the tenor of the bank guarantee ,and in honouring the bank guarantee, Ecobank Nigeria limited unilaterally and wrongly sourced the sum of $8,750,000 it paid to Cedric Trading Company LLC from parallel market rather than from Central Bank of Nigeria by purchasing the foreign exchange at the rate of N475 to one US Dollar, whilst the Central Bank of Nigeria’s approved rate was at N300 to one US Dollar as at that time.

By wrongly sourcing foreign exchange from the parallel market, the bank exposed the Plaintiff Company to the sum over N2billion as loss.
By the provision of the foreign Exchange (motoring and Miscellaneous provision) Act, Cap F34,Laws of the Federation of Nigeria 2004,Ecobank ought not to have sourced foreign exchange from the parallel market.


READ MORE HERE: https://www.witnessngr.com/customer-battles-ecobank-over-n2-billion-loss/

STERLING BANK PLC is fast becoming safe haven for fraud as depositors have continued to lose huge sums of money to the new generation bank.

This time, the management of the Abubakar Suleiman-led bank is currently in a fix on how to deal with cases of alleged fraud leveled against its branch on Iju Road, Iju, in Ifako-Ijaiye Local Government Area of Lagos State.

Documents in our possession revealed that twice within a period of five months, millions of naira have been withdrawn from saving accounts with numbers 0000886683 and 0068955741 belonging to Providence Heights Secondary School Staff Welfare Association.

According to investigation conducted by our correspondent, on Thursday, 6 July 2018, a sum of N1,200, 000 was stolen from the saving account number 0000886683 by fraudsters probably working in tandem with some staff of the bank. The leadership of the association reported the theft to the bank management.

This newspaper further learnt that after the official complaint on the theft by the association’s leadership, the bank refunded N500,000 to the association. When the association sought for the balance of N700,000, the bank management refused saying the N500,000 it refunded was the one intercepted from the N1, 200, 000 initially stolen.

While the association was struggling to recover the N700,000 balance, there was an election to usher in new executive members for the association.

In order to prevent another theft saga, the new executive members opened a new saving account, 0068955741 with the same branch of Sterling Bank with new signatories.

But to the utter surprise of members of the association, we learnt that on Thursday, 1st November 2018, another N1, 700, 000 was stolen in several illegal withdrawals from the account.


READ MORE HERE: https://www.witnessngr.com/customer-battles-sterling-bank-over-million-naira-fraud-2/

STERLING BANK PLC is fast becoming safe haven for fraud as depositors have continued to lose huge sums of money to the new generation bank.

This time, the management of the Abubakar Suleiman-led bank is currently in a fix on how to deal with cases of alleged fraud leveled against its branch on Iju Road, Iju, in Ifako-Ijaiye Local Government Area of Lagos State.

Documents in our possession revealed that twice within a period of five months, millions of naira have been withdrawn from saving accounts with numbers 0000886683 and 0068955741 belonging to Providence Heights Secondary School Staff Welfare Association.

According to investigation conducted by our correspondent, on Thursday, 6 July 2018, a sum of N1,200, 000 was stolen from the saving account number 0000886683 by fraudsters probably working in tandem with some staff of the bank. The leadership of the association reported the theft to the bank management.

This newspaper further learnt that after the official complaint on the theft by the association’s leadership, the bank refunded N500,000 to the association. When the association sought for the balance of N700,000, the bank management refused saying the N500,000 it refunded was the one intercepted from the N1, 200, 000 initially stolen.

While the association was struggling to recover the N700,000 balance, there was an election to usher in new executive members for the association.

In order to prevent another theft saga, the new executive members opened a new saving account, 0068955741 with the same branch of Sterling Bank with new signatories.

But to the utter surprise of members of the association, we learnt that on Thursday, 1st November 2018, another N1, 700, 000 was stolen in several illegal withdrawals from the account.


READ MORE HERE: https://www.witnessngr.com/customer-battles-sterling-bank-over-million-naira-fraud-2/

The Group Managing Director/CEO of Keystone Bank Limited, Mr. Obeahon Ohiwerei has said that the bank has over the last 15 months, witnessed significant transformation both structurally and in market competitiveness.

In a chat with newsmen in Lagos on Monday, Mr. Ohiwerei, alluded to this on-going transformation and the strides made to date.

“What was otherwise a fringe bridge-bank player has increasingly reinvented itself in the market place as medium-sized in scale yet replete with the vibrancy, innovation and forward-looking stance of any major player.

“Besides re-energising our workforce across the country, Keystone Bank has invested substantially fully integrated service models that facilitate customer access to banking services across a broad range of channels”. He said.

Speaking further, the Bank Chief explained that the bank’s current strategic focus anchors on a blend of professionalism and best-in-class yet cost-effective technology to drive customer convenience across all touchpoints”.

He also alluded to recent successes in entrenching an audacious can-do spirit across the bank; a mind-set that is willing to go the extra mile in serving customers in the most innovative ways possible, yet undergirded with professionalism and utmost respect for corporate governance.

“Indeed, there are emerging dividends of this on-going re-engineering process. For the half-year ended June 30, 2018, the bank recorded a Profit Before Tax of N5.9billion compared with a loss of N7.1billion over the same period in 2017 while deposits have grown from N209billion in August 2017 (when the new management came on board) to N358billion as at November 2018.”

Driven by seasoned professionals drawn from leading banks in the industry, the Executive Management Team is well aware of the potential pitfalls in pursuing unbridled bank-growth, particularly in the face of pressure for turnaround performance.

However, in the words of the CEO, “we have consistently maintained an expansive yet responsible appetite for risk asset creation, striking the required balance across all key regulatory ratios without stifling growth. As such we have remained a net placer of funds in the interbank market with over the last 10months till this minute.

“One of the key elements of our revised vision statement is the word preferred and the import of it is to take us above the fray and elevate the discussion beyond traditional matrices of balance sheet size, asset base, branch spread and the like, which are still important though.

“Rather it commits us to delivering excellent services in all we do such that customers trust us and repeatedly want to do business with us.

“Growth for us is not a 100-metre dash but a marathon where we shall not only stay competitive in the short to medium term but put in place every required resource to ensure our growth is sustainable in the long term.

“We are excited about our future and cherish both our new customers and those that have kept faith with us through the years.

“At Keystone Bank, when we say #We Grow Together, our commitment is to ensure that every experience reinforces the truth that we are a professional, responsive and dependable financial solutions provider, always within reach through all our channels.” Ohiwerei concluded.


READ MORE HERE: http://witnessngr.com/keystone-bank-re-defining-customer-service-driving-sustainable-growth-ohiwerei/

A yet-to-be-identified middle-aged man has drowned after reportedly jumping into the Lagos Lagoon in the early hours of Friday.

THE WITNESS gathered that the deceased jumped into the lagoon after he alight from a commercial bus on the Third Mainland Bridge inwards Lagos Island.

Marine Police with the assistance of local divers have recovered the body and taken the corpse to Ebute Ero Police Station.


SEE MORE PHOTOS HERE: http://witnessngr.com/breaking-man-jumps-into-lagos-lagoon-police-recovers-body-photos/

The Nigeria Para-powerlifting Federation (NPPF), is set to unveil its Logo and Mascot for the 2019 World Para Powerlifting Championship.

Queen Uboh, the President of the federation told newsmen in Lagos on Tuesday, October 29.

According to Uboh, “the federation is prepared and ready for the unveiling billed to take place on Thursday, November, 1 at Oriental hotel and suite, Lagos.

“This is in preparation towards the 2019 World Para Powerlifting Championship which we won the right to host come January 2019, we are ready for the unveiling of the logo and mascot”.

“We employ lovers of the game to come and support this and together we can put smile on the faces of this disabled athletes who have found ability in disability,” Queen Uboh said.

The president commended the efforts of Peak Milk for providing a world class facility in Lagos for the para-power athletes to train, and appealed to other corporate organisations and state governments to support NPPF.

She called on the sport ministry, state government and corporate organisation to contribute and uplift the game of powerlifting and also think of a better welfare package for the athletes after retirement.

She revealed that her priority was to make sure when these athletes are no longer active, they have something to fall back to and call their own.

It would be recalled that the six athletes that represented the country in the powerlifting events of the Commonwealth Games in Gold Coast, Australia, each clinched a medal, returning with a total of six medals.
Also, Esther Oyema set a new world record after securing a lift of 131kg.

Uboh added: “Most stakeholders in the country do not really care and think about this disable athletes who even with their condition continue to make this nation proud anytime they have the opportunity to represent their father land.

“In the last Olympic games in Australia they made sure the nation anthem was heard, even where the able bodied athletes couldn’t succeed.

“We went with only six athletes to Gold Coast and each of them came back with a medal. If we had presented more than six athletes we would have won more medals.

“So, the athletes are ready for the tournament come January 2019,” she added.


FOR MORE: http://witnessngr.com/nigeria-para-powerlifting-federation-set-to-unveil-logo-mascot-for-lagos-2019/

Minister of Transportation, Rt. Hon. Chibuike Rotimi Amaechi, and other passengers narrowly escaped death on a troubled Arik Air flight from Port Harcourt to Lagos, according to eyewitnesses. The incident, related by Grend Miebaka Ibimina and Oraye St. Franklyn in a written account making the rounds among Amaechi’s allies on WhatsApp. Arik Air Flight W3745 reportedly left Port Harcourt around 10pm on Sunday but did not land in Lagos until 01:02am on Monday.

The account, written by Ibimina, begins thus: “Children of God, let us return the glory to God Almighty for saving the life of our own man of awesome grace the Rt. Hon. Chibuike Rotimi Amaechi, and that of many others, in an aborted plan crash. I had confirmed the incident from him, he said: True, God is great”.”

Continuing, the account says: “THE GOD SAVED RT HON. ROTIMI C. AMAECHI AND MANY OTHERS ON ARIK AIR FLIGHT ENROUTE PH-LOS.

“No place for argument! We left Port Harcourt at about 22:00, experienced some turbulence while descending into Lagos, the pilot said there was storm passing through WA this period, and that it was a rare occurrence. At about 23:30, he made the first attempt to land, I sat by the window so I could see a bit more, the plane was close to touching the ground, when a sudden wind came from the side and took over the plane, pilot aborted the landing, with the plane shaking from side to side due to the wind force, and the engines crying from very high RPM, he made his way back up. People shouted, cried, prayed, and there I was forming cool guy.

“My colleague siting behind said “Ibimina, that was a close call” Mr cool guy was there quite saying we will land soon, soon turned into over 2 hours of the pilot struggling to control the plane, people passing out, prayers turning into receive my soul...

”But just before the failed first attempt of five attempts, the Lord asked me to pray because it will be worse, I felt it was my many documentaries on “moments before disaster” getting the better of me. For more than two hours, we died many deaths, I thought about my wife and my son, as tears dripped down my face (I just started crying again)........


READ MORE AND WATCH VIDEO HERE: http://witnessngr.com/amaechi-others-escape-death-on-arik-air-plane-video/

Aggrieved staff of the National Pension Commission (PENCOM), has accused the acting Director-General of the commission, Hajiya Aisha Dahiru-Umar of fraud, flagrant violation of procurement process and abuse of office.

In a petition sent to the Economic and Financial Crimes Commission (EFCC) by staff of PenCom under the aegis of Pension Reform Advocacy Group and signed by its coordinator, Isyaku Abduralman, the staff alleged that upon the resumption of duty of Dahiru-Umar, PenCom entered into a phase of tragic demise. The group further alleged that in the last one year, the commission have witnessed brazen financial recklessness, gross incompetence, nepotism and mismanagement of material and human resources.



READ THE FULL PETITION BELOW:

We, the concerned and aggrieved staff of the National Pension Commission (PENCOM), are writing to inform and brief the Commission (EFCC) about the state of the PENCOM where we all work and contribute our quota to nation building, progress and development of our fatherland. You would recall, Sir, that there was a change of management of the Commission in 2017 where the PenCom Exco was removed and required to hand over to the most Senior Staff Member of the Commission. We are at a loss as how the person of Mrs. Aisha Dahiru-Umar was saddled with the responsibility of leading the Commission in Acting Capacity since she ought to have retired since December 2016. Furthermore, she has spent all her time in the Commission in the facility management and lately in the CSR Department due to her severely limited intellect and as such lacks the regulatory competence required to head the Commission.

It is without doubt that the two previous Excos made remarkable progress in institutionalizing the Commission’s long term developmental strategy, especially in the core areas of daily operations, infrastructure and welfare enhancement of all staff. It was clear to all and sundry that Pencom was being directed to a glorious path evidenced by consistent factual milestones.

Unfortunately, however, upon the resumption of duty of Aisha Umar, Pencom entered into a phase of tragic demise. We have, in the last one year, witnessed brazen financial recklessness, gross incompetence, the most extreme form of nepotism and mismanagement of material and human resources. These ills have essentially engendered Staff disillusionment and a general feeling of helplessness and despondency. This is truly unfortunate Sir.

A chronicle of the fraud and insider dealings going on in the Commission shall follow in turn Sir.



CONTRACT SCAMS AND DEMAND FOR KICKBACKS

There is large scale financial impropriety and graft going on in the Commission at present. Contractors have been inundated with constant request for kickbacks from Aisha Umar during contract negotiations (Evidence Available), without which the said contracts are diverted and given to another company that is ‘willing to do business’. Legitimate contractors who have since fulfilled their deliverables are being owed and are told to come for “discussions” otherwise they will not be paid.

Most reprehensible is the malicious illegal stalling of the Pension Administration Project (PAS) for the simple reason that the American Company who have emerged the preferred bidders are not willing to engage in talks for kickbacks. Sir, contrary to the falsehood that is being peddled by her, we would like to bring it to your attention that the PAS project had been ongoing for over a year and the Commission has expended a lot of resources to document the steps required to fully automate its regulatory activities. The procurement process commenced with the issuance of a Request For Proposal (RFP) and culminated in the issuance of a no objection from the Bureau of Public Procurement. We gathered that the no objection arrived in the Commission shortly before the management change. Since then, instead of Aisha Umar to move it forward, she and her evil cohorts have been trying to get the BPP to cancel the contract. Following a letter drafted by Sani Mohammed, the Commission Secretary/Legal Adviser (CSLA), the BPP in rejecting the request to cancel the contract, faulted the points raised by Mohammed Sani as lacking in legal merit reprimanded the Commission with a stern warning to immediately finalize the procurement process. This technology ought to have been installed since last year, without which the Micro-Pension initiative, a major milestone of the administration cannot take off.

A sinister group of Ekanem Aikhomu, Datti Mohammed, Sani Mohammed also unilaterally awarded contracts to whom they please and back it up with bogus evaluations which they instruct Mr. Bako Mohammed, a long time criminal associate of Aisha Dahir Umar, to process. Mr. Bako Mohammed who has been undergoing investigations for rent seeking activities, was returned to procurement to facilitate Aisha’s nefarious transactions.

Cases abound with proof of companies and contractors who were and are still unduly engaged without recourse to proper procurement and bidding processes. For instance, an actuary firm, RBA Limited who has close ties to Ekanem Aikhomu was paid N60 Million for nebulous services without due process being followed. This is in contravention of all procurement laws and due process. This group of individuals have continued to help themselves in a most wanton manner to the coffers of the Commission and have subjected those against their activities to frequent changes of their departments as a way of subjugating them so that they will not expose their clandestine activities. They reward the faithful with incessant trips out of the country sham “overseas training” to keep them loyal.

We appeal that a thorough investigation be carried out to unrave


READ MORE HERE: http://witnessngr.com/pencom-boss-aisha-dahir-umar-accused-of-fraud-abuse-of-office/

These are very bad times for customers of the Emeka Emuwa led Union Bank of Nigeria (UBN) as the bank appears to have lost its security edge over their competitors. Though, Union Bank prides itself as one of the big, strong and reliable financial institutions in Nigeria, depositors have continued to wonder how safe their monies are with the lender as the bank has become a safe haven for fraudulent officials.

This is worrisome as the Economic and Financial Crimes Commission (EFCC) again, on Monday arraigned another banker, Ali Kareem with the lender at the Federal High Court Lagos for allegedly stealing N8.7 million from a customer.

Alli who was arrainged by the Economic and Financial Crimes Commission EFCC, alleged is facing a three-count charge of conspiracy, impersonation and N8.7 million, internet fraud.

The defendant, whose residential address was not given, was arrainged before Justice (Professor) Chuka Obiozor.

EFCC said that the defendant conspired with others who are still at large, and fraudulently impersonated a Union Bank customer, Alexander Cherembem, in order to fraudulently facilitate the withdrawal of funds from his account. He was also alleged to have processed the request for Union mobile in respect of the said account, without obtaining proper Identity of the customer.

EFCC alleged that the ex- banker had on May 8, 2018, while he was still a staff of Union Bank of Nigeria Plc, failed to obtain proper data of a customer of the bank in processing Union mobile in respect of Account No.0010807900. He was alleged to have impersonated one Alexander Cherembem Okan and fraudulently withdrew the sum of N8. 677, 907.00 million from the said account No. 0010807900.

According to the EFCC’s prosecutor, George Chia-Yakua, said that the offences committed are contrary to and punishable under Sections 22, 22(2) and 37 of the Cyber Crimes Prohibition Act, 2015.

However, the defendant pleaded not guilty to the charges against him. In view of his plea, lawyer to the defendant Olatimihan Ogunbiyi, told the court of his intention to file a bail application on behalf of the defendant and sought for a short adjournment. The prosecutor, Chia-yakua did not oppose his request.

Consequently, Justice Obiozor adjourned the case until November 5, for hearing and determination of the defendant’s bail. Justice Obiozor also ordered that the defendant should be remanded in prison custody pending the determination of his bail.


READ MORE HERE: http://witnessngr.com/union-bank-staffer-steals-n8-7m-from-customers-account-2/

The Okoi Obono-Obla-led Presidential Investigation Panel (SPIP) for the Recovery of Public Property has summoned the senator representing Delta South Senatorial District at the Upper Chamber of the National Assembly, James Manager over fraud and illegal acquisition of properties worth over N5bn with government funds, THE WITNESS learnt.

The panel is investigating the PDP senator following a petition written by a group, Conduct and Due Process. The group is calling the SPIP to investigate and prosecute the Delta lawmaker and also to request that the illegal properties allegedly scattered all over Delta, Abuja and the USA be temporarily forfeited to the FG. Some of the alleged properties include: a mansion in USA, KFT Event Centre in Warri (the biggest centre in Delta), Bendel Estate in Warri, a mansion in Apo area in Abuja worth over N500m, amongst others. Sources further disclosed that detectives from the Presidency were in Warri and Asaba, Delta State capital last week Tuesday to trace and mark the illegal properties.

Though Sen. Manager is said to have travelled out of the country to China for a seminar organized and sponsored by the Senate, THE WITNESS reliably gathered that he is billed to appear before the panel in Abuja on October 25, 2018 at 10am.

In line with THE WITNESS investigative journalism practice, our reporter contacted the chairman of the panel, Chief Obla who confirmed the report. “It’s true, we are investigating Senator James Manager,” Obla said.

Efforts to reach Sen. Manager for his angle to the reports proved futile as calls and text messages placed to his mobile line were not responded to as at press time.


READ MORE HERE: http://witnessngr.com/exclusive-fg-moves-to-arrest-delta-senator-james-manager-seize-properties-worth-n5bn/

Hhhhj

- Shareholders accuse GMD, Tokunbo Abiru of conniving with CBN to defraud them

- As lender loses over 200,000 customers in 3 weeks

+ The Bola Tinubu's connection



All seems not to be well with Polaris Bank Limited, a bridge bank created by the Central Bank of Nigeria to assume the assets and liabilities of the defunct Skye Bank as shareholders of the defunct bank have accused the current management of Polaris Bank led by its Group Managing Director, Mr. Adetokunboh Abiru of conniving with the CBN to defraud them of their investment.

THE WITNESS reliably gathered that with the recent takeover of Skye Bank Plc by Polaris Bank, shareholders are now at the risk of losing an estimated N10.69 billion, being the value of the shareholders’ fund.


READ MORE HERE: http://witnessngr.com/exclusive-fresh-crisis-rocks-polaris-bank/

Hmmm

- Shareholders accuse GMD, Tokunbo Abiru of conniving with CBN to defraud them

- As lender loses over 200,000 customers in 3 weeks

+ The Bola Tinubu's connection



All seems not to be well with Polaris Bank Limited, a bridge bank created by the Central Bank of Nigeria to assume the assets and liabilities of the defunct Skye Bank as shareholders of the defunct bank have accused the current management of Polaris Bank led by its Group Managing Director, Mr. Adetokunboh Abiru of conniving with the CBN to defraud them of their investment.

THE WITNESS reliably gathered that with the recent takeover of Skye Bank Plc by Polaris Bank, shareholders are now at the risk of losing an estimated N10.69 billion, being the value of the shareholders’ fund.


READ MORE HERE: http://witnessngr.com/exclusive-fresh-crisis-rocks-polaris-bank/

The primary election panel of the All Progressives Congress (APC) in Delta State led by Major-General Lawrence Onoja (Rtd), Dr. Emmanuel Eweta Uduaghan, the immediate past governor of Delta State as the party’s Senatorial candidate for Delta South Senatorial District.

The affirmation was held on Wednesday at the Civic Centre in Oleh, headquarters of Isoko South Local Government Area of Delta State.

Co-contestants with Dr. Uduaghan, Chief Michael Johnny, Air Vice Marshall Henry Okorodudu and two others were screened out by National Working Committee (NWC) in Abuja during the screening exercise.

Speaking after his affirmation, Dr Uduaghan expressed appreciation for the confidence reposed in him.

He assured delegates and members of the Senatorial district of good representation, while also promising to unite the two factions of the party in the state.

“I’m happy about the affirmation. I was ready for it. When the final report came up, I was cleared and I’m happy for affirmation.

“Be assured of quality representation. By God’s grace, I’ll win the election. You know, that in Delta, APC has never won any election. We need to come together.

“I’m going to bring everybody together by God’s grace. After the primaries, there’ll be no faction, all of us will be one.

“Those not part of the system I’ll bring them in so as to move the party forward,” Uduaghan said.

READ MORE: http://witnessngr.com/breaking-apc-affirms-emmanuel-uduaghan-as-delta-south-senatorial-candidate/

Two Bet9ja customers, Dennis Dickson and Orazurume Jude Mary, have called on the company to pay them their dues.

They expressed their grievances to The Eagle Online on Monday, lamenting the “unprofessional behaviour” of the company.

Dickson stated that he has been deprived of his winning twice by the company.

He said: “The first instance occurred during the 2018 World Cup, when I staked a bet with the company on the option that some selected players will not score more than 2 to 3 goals per match, all of a sudden after winning the ticket the company void it and said the option was meant to run for the whole of the tournament.

“The second time, I staked on some players that during the transfer window they will not change club without loan deals included, after winning my ticket the company on the 31st night of August 2018 changed the optioned and said that loan deals are also included. Whereas, a loaned player is still the property of the parent club and can be recalled at any time even before the expiration of the loan deal.

Dickson stated that his tickets are: B93ECCWRTQZPE-675035 and B959ECCWERAWTT-68445.

Orazurume Jude Mary Tochi also stated that he played the game in Ekwulobia, Anambra State and the company reneged on the initial agreement that was reached earlier and that was not part of the initial agreement.

Tochi said: “I entered a bet with Bet9ja company under the category of transfer market with bet placed on whether a player would go on transfer to another club or not.

“Loan deal did not count at the time of this deal, but Bet9ja suddenly turned around and reversed the rule of the transfer market, stating that loan deal now counts after we agreed on transfer or no transfer.

“The sudden change was not acceptable as it was against the terms and conditions given to customers, after predicting players who will not change club.

“This amounted to N16,000,000 and N200,000.

“Two players are on loan, which is NOT transfer to the best of knowledge.

“Players on loan still belong to their parent. I went to my game its shows its lost, am not happy.”
Tochi gave his ticket number as B928SPPRCWPPSC-211061.

The Eagle Online reports that Bet9ja is an online bookmaker company that deals on major sporting events according to Alexa.com.

It is the second most visited website in Nigeria, only next to Google.com and it is owned by Kunle Soname, who is also its Chairman. Soname is also the Chairman of Remo Stars Football Club.

READ MORE HERE: http://witnessngr.com/again-bet9ja-customers-accuse-company-of-reneging-on-payment-of-winnings/

Jim Rohn, an American author and motivational speaker once said, “If you are not willing to risk the unusual, you will have to settle for the ordinary.”

This seems to be the dilemma of the people of Kogi East Senatorial District of Kogi State. From one political dispensation to another, they have been forced to settle for an ordinary representation in the National Assembly – the kind that has added very little or nothing to their quality of living.

Another season of decision making is fast approaching; a season where making the wrong choice of who will represent them this time around will consign them to yet another four years of perpetual retrogression. So, as the buildup to the general elections gathers momentum, the people of Kogi East Senatorial District are praying; those who know how to fast are resorting to that. But the prayer point is that God should bring a messiah (or messiahs) who will speak for them confidently at the National Assembly and the district will bounce back to reckoning.

The name, Senator Attai Aidoko, is not new to those who have followed the politics of Kogi State for close to two decades. If not for anything else, he will always be remembered for representing Kogi East at the upper legislative chambers for 16 years (House of Representatives -eight ( years and in the Senate for another eight ( years) with nothing to show.

He had earlier represented Ankpa/Omala/Olamaboro Federal Constituency from 2003 to 2011. And the people have said the only dividends of democracy accruing from his representation are seeing his fine face when another election season is approaching, and of course, listening to political sweet nothings when their votes are solicited the next time.

They have said between 2011 and 2018 (going to 2019), they have searched and searched, and continued to search, but the senator cannot be tagged with any meaningful development in any part of Kogi East Senatorial District, not even with his influence as chairman, Senate Committee on SEGS.

One of his townsmen summed up their frustration recently. He was quoted as saying, “The only stream sustaining our community and the neighborhood and is about four kilometers away. Aidoko is far from our challenges because he only comes here in the night and disappear before dawn since he became a senator. As you can see we have no potable water, no electricity and other basic infrastructures.”

Even the boys are not smiling at the moment. Igala youths recently spoke the minds of the entire youths of the district. According to them, the senator is a liability on the good people of Kogi East and he has no political relevance in both the region and at the national level. The youths are crying out, very loud at that, that as the longest-serving federal lawmaker from Kogi East, he has serially failed them “in terms of good legislation, provision of amenities through constituency projects and youth empowerment.”

They continued by saying, “We can’t continue to wallow in this politics of stagnation where some wicked few individuals will gather together to oppose everything that is good for our land.

“Our region has suffered so much neglect despite the fact that we have several opportunities to develop, but we have been suffering so much neglect because of the attitude of some of our leaders.”

The Kogi East people are going, albeit caps in hands to God, to the gods, and to whatever power they believe in, to yarn some miracle intervention of sorts, so that as the Peoples Democratic Party is choosing its candidates in Kogi East, they should settle with a quality candidate who will better their lots, who will be their voice when other brand-new senators take their hallowed seats in the hallowed chamber.

Anything less than a suitable candidate will attract rebellion from the voters, and the people, especially if the current occupant gets the ticket. You see, the people have been bitten more than twice. Who knows, they may be shy the next time they are bitten. Even as they do not trust the All Progressives Congress promise-and-fail kind of politics, chances are that they may rather feel comfortable with it by offering their protest votes to an APC candidate possibly coming from Dekina or the Idah axis of the zone. If for any reason the incumbent senator returns to contest on the platform of PDP, chances are Dekina/Basa will go for APC, Idah Federal Constituency will go for APC and Ankpa/Omala will go for APC. Though, this will bring a new chapter of failed promises, it could be the last resort just to teach the party delegates a lesson.

PDP in the Kogi East is in need of a new face who can energize their base. There is so much anxiety at the moment because the current occupant as a product is not strong enough to move market for the party in the face of the electorate. Just think of it, he has never won the primaries. He gets the ticket through the back door.

Another burning issue that may consume the PDP in Kogi East is the marginalization of the Idah axis of the zone. Kogi East Senatorial district has nine local government areas and three federal constituencies. They include the Idah axis: Idah, Ibaji, Igalamela/Odolu and Ofu; Dekina axis: Dekina, Bassa and the Ankpa axis which consists of the Ankpa, Olamaboro and Omala.

The choices before the political class and the electorate are between progress and retrogression, unity and disunity, equity and inequity; and of course a wide prospect of prosperity for millions and not just the elite few.

Between 1999 and 2003, Dr. Alex Kadiri, a Dekina citizen was elected into the senate. Senator Nicholas Ugbane also from Dekina succeeded Dr Alex Kadiri and served in the senate for eight consecutive years. The zoning formula favoured Dekina yet again in the race for Lugard House which led to the emergence of Captain Idris Wada as governor of Kogi State.

Similarly, Ankpa Federal Constituency has also been largely favoured since the return to democratic rule. Alhaji Ibrahim Idris governed for nine years. Senator Attai Aidoko, another native of Ankpa Federal Constituency has been in the National Assembly since 2003.

Barr. Dangana Ocheja was elected in 2011. His representation was truncated by Attai Aidoko Ali through the judiciary after just six months. The implication is that since 1999, Idah Federal Constituency (comprising Idah/Ofu/Igalamela-Odolu/Ibaji) despite its massive voter strength has not produced a senator. This clearly indicates that equity has been conspicuously overlooked in favour of marginalisation.

One may argue that several indigenes of Idah Federal Constituency were beneficiaries of high-profile political appointments. But we need to remember that an appointment is a prerogative of the chief executive and is not necessarily a true representation of the desire of the masses.

Back in 1999, President Obasanjo appointed Dr. Eyitayo Lambo and Bayo Ojo as Minister of Health and Attorney General and Minister of Justice respectively. Both were from Kabba town. The office of the deputy governor today is the outcome of a doctrine of necessity by the powers that be and not a product of consensual agreement by Igala political stakeholders. Deputy Governor Simon Achuba was forcefully shoved down the throats of the people and they were forced to swallow without complaints.

The clamour for a Kogi East senator of Idah extraction has never been this deafening. It is a major topic of discussion where two or more are gather. If the leaders of the PDP in Kogi State are serious about balancing this highly lopsided senatorial representation in 2019, and are also serious about retaining the massive votes of Idah, Igalamela-Odolu/Ofu/Ibaji citizens, then, they must act quickly and smartly to exterminate the political oppression, subjugation and marginalisation that has been handed down on these politically sensitive people for so long.

Idah Federal constituency has one of the largest voting population in Kogi State. Collection of PVC in the four local government areas has been impressive. If the leadership of the PDP is thinking about zoning the senate to another constituency besides Idah in 2019, they should have a rethink. Several able-bodied individuals with vast experience and impeccable records of hard work, honesty and credibility are very ready and willing to join the senatorial race in 2019.

The “systematic marginalisation” of Idah Federal Constituency must be brought to a halt. The recycling of “expired” familiar names with dismal performances in the senate must also stop. Fresh ideas, fresh approach and better results in 2019 are what the Kogi East people demand and Idah Federal Constituency has a large pool of intelligent, honest and hardworking persons that are ready, able and willing to do the job.

The people know this. The party knows this. Apparently, our distinguished senator himself is well aware. That explains the reason he has been going from pillar to post, seeking crude means to actualize his dream of going back to the senate to warm the seat on behalf of the Kogi East people. Perhaps that was the motive behind his alleged enlisting of more than a dozen propagandists to carry out a smear campaign so as to truncate the ambition of other leading aspirants in the race.

A whopping N20 million, according to reports was given to a party chieftain to facilitate this smear campaign. And part of their briefs was to make the party hierarchy see other leading aspirants as impostors and agents of the opposition and this involved writing several anonymous letters to some party stakeholders.

The leaders of the party are aware of Aidoko’s desperation, that is why they said no to an automatic ticket for our dear senator. They rather expect Senator Aidoko to test his popularity and make his achievements open doors for him if he has done well for his constituency. But the senator is not resting in his oars.

He is making every effort to return to the senate and elongate the suffering period of Kogi East people. This time, the people will resist him with their precious votes.


– Omahi, a political analyst writes from Idah, Kogi State, Nigeria. 081222016330.

READ MORE HERE: http://witnessngr.com/kogi-east-senate-the-risk-of-pdp-choosing-attai-aidoko-by-idris-omahi/

Again, lender fails to declare accounts to regulators
Customers, shareholders express anxiety
As financial experts call for sack of GMD



These are not the best of times for the Tokunbo Abiru-led Skye Bank Plc as the lender is said to be currently embroiled in a fresh crisis.

Investigation by THE WITNESS revealed that the struggling financial institution has again failed the statutory requirements to file its results and accounts for the period ended June 30, 2018 with the Nigerian Stock Exchange (NSE).

A top management staff of the bank who spoke to our correspondent on condition of anonymity lamented, “Of a truth, all is not well with the bank. It is really struggling to stay afloat and the new management is doing nothing about it. Though they met the problem on ground, one expects that by now things should have changed. People are resigning every day because of uncertainties showing up in every of its departments.”

Recall that on July 4, 2016, the Central Bank of Nigeria intervened in the management of the bank by reconstituting the board of directors, shoring up the bank with N100bn capital injection, and accordingly, the apex bank gave the board a clear mandate to turn the institution around positively.

Ironically, two years after the CBN intervention into the affairs of the bank, the fortunes of the financial institution have continued to dwindle.

This, THE WITNESS gathered, is not unconnected with the poor results of the bank due to lack of trust customers now have with the lender triggered by the lack of administrative experience and expertise of the new management led by Mr. Tokunbo Abiru. More so, weak asset quality, rising funding costs and increased customers’ wariness about the safety of their deposits have conspired to squeeze out the bank’s balance sheet and tear profit figures of the lender.

The development became worrisome to shareholders and customers of the bank as the lender last filed its accounts to the NSE in 2014. In a statement to the NSE in March 2017, Skye Bank had attributed the failure to file its 2016 accounts to the CBN’s intervention. Consequently, the Exchange tagged the lender MFR (Missed Regulatory Fillings). This is in contravention of Rule 1.1.4 of The Exchange on Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange, which requires listed companies to file their AFS.

A visit to the lender’s headquarters located at 3, Akin Adesola Street, Victoria Island, Lagos, will tell how its branches operate – in a low-key setting. The once-bubbling branches of the bank have now become a shadow of themselves as many depositors of the bank have started closing their accounts.

It would be recalled that prior to the sack of the Ayeni-led board, Skye Bank used to visit the discount window frequently.

With the current situation, the few depositors left are beginning to wonder if it is not back to square one for them, as they insist that the bank would have filed its account if there were indeed no problems.

A document obtained from the NSE unveiled Skye Bank as one of the financial institutions likely to be penalized by the NSE along with other organisations.

According to the document from the NSE, such default is marked out by the Exchange as a corporate governance failure, which attracts monetary fines, “naming and shaming” tag, suspension of shares from trading and delisting in incurable cases of default.

A source further confirmed that the Exchange “would apply relevant rules” in dealing with the defaulters.
The NSE regulatory deadline was on July 30. Under the rules, a late submission attracts a fine of N100,000 daily for the first 90 calendar days of non-compliance, another N200,000 per day for the next 90 calendar days and a fine of N400,000 per day thereafter until the date of submission.

Though, the CBN recently extended the tenure of Skye Bank directors for an additional two-year term, customers of the bank, financial experts have called for the sack of the bank chief to be replaced by a more competent and experienced hand to manage the financial institution.

A customer of the bank, one Mr. Oguntade Charles, while speaking with our correspondent said: “I don’t know what exactly is happening to Skye Bank. I have been banking with them for the past 7 years and it has never been this bad. Most of their ATM machines are always out of service; even their USSD banking code *889# is nothing to write home about, the same service which I enjoy seamlessly on my accounts with other banks. Most times, when I try to transact with it, it always fails. It’s either it brings error or no response at all. I have been to their bank several times to complain but still, no way. Their services are now so poor,” he lamented.

A financial expert, Mr. Adebayo Faleti who spoke to our correspondent argued that if no drastic steps are taken by the CBN concerning the bank, the worse may still come.

All efforts to reach the Corporate Affairs Manager of the bank, Mr. Rasheed Bolarinwa for the lender’s angle proved futile as calls and text messages placed to his mobile number were not responded to as at press time.


READ MORE HERE: http://witnessngr.com/skye-bank-in-fresh-crisis/

New York-based broker-dealer, Marco Polo Securities, has announced that Coronation Securities Limited (“COSEC”), a major Nigerian financial institution is expanding its access to US investors via the Marco Polo regulatory platform.

Marco Polo has relationships with dozens of securities firms throughout Europe, APAC, Africa and the Americas, and enables clients to market their local capabilities and products to international investors. In turn, the solution gives investors access to local exchange-listed securities as well as locally originated private placement and M&A investment opportunities.

Uwana Ekpat, Head of Coronation Securities, said, “Coronation Securities values adherence to regulatory requirements in all markets we have a presence in. In joining the Marco Polo platform we will be able to extend our reach in the US investment community while ensuring compliance with US regulation.”

Steve Carlson, Chairman of Marco Polo Securities, said, “Global investors have limited access to Africa’s growing capital markets. Nigeria is a major part of Africa’s growth excitement and we welcome the opportunity to add Coronation to our expanding platform of African securities firms. Coronation is one of Nigeria’s premier financial services groups providing local markets execution, debt and equity research, wealth management as well as merchant banking products. We look forward to helping them market these products to an expanding investor base in the US, Europe and Asia.”

Coronation Securities Limited is a wholly-owned subsidiary of the Coronation Merchant Bank Group and a licensed broker-dealer firm regulated by the Securities and Exchange Commission (“SEC”) and the Nigerian Stock Exchange. The company provide retail, HNI and institutional clients (foreign and local) with best-in-class, efficient and transparent execution of financial instrument trades on local exchanges in Nigeria.

Marco Polo Securities Inc. is a US-registered broker-dealer offering global execution, regulatory and distribution capabilities. Marco Polo began as a pioneer in cross-border electronic trading infrastructure to enable global institutional flows.

READ MORE: http://witnessngr.com/coronation-securities-expands-us-capabilities-using-marco-polo-regulatory-platform/

Ex-MD, Dapo Apara petitions EFCC


These are not the best of times for the Doherty Akin-led Alphabeta Consulting Limited and Alphabeta Consulting LLP, a Lagos-based management, information systems and technology consulting firm allegedly owned by the national leader of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu.

The immediate past Managing Director/Chief Executive Officer of the organization, Mr. Dapo Apara, has petitioned the Economic and Financial Crimes Commission, (EFCC), concerning the activities of the organization which border on money laundering.

In a petition to the EFCC through his lawyer (Adetunji Shoyoye & Associates) and made available to the THE WITNESS, Apara accused the consulting firm of laundering over a N100 billion (One Hundred Billion Naira) for top government officials.

According to Apara, Alphabeta Consulting LLP, which is the revenue mobilization and collection advisor to the Lagos State Government has become an avenue for official corruption of government official, a conduit pipe for massive money laundering scheme, tax evasion, amongst other vices.

The former head-huncho of the company further called on the anti-graft agency to cause a holistic investigation into the firm.

Efforts by THE WITNESS to reach Mr. Doherty Akin for the company’s angle to the allegations proved futile as calls and text messages sent to his mobile number were not responded to as at press time.


READ MORE HERE: http://witnessngr.com/tinubus-alphabeta-consulting-firm-in-money-laundering-scandal/



Read the full petition below:


The Executive Chairman

Economic and Financial Crimes Commission

5 Formela Crescent, off Ademola Adetokunbo Street,

Wuse 2

Abuja.


Sir,

PETITION OF A CASE OF MONEY LAUNDERING, TAX EVASION, FRAUD RUNNING INTO OVER N100,000,000 (ONE HUNDRED BILLION NAIRA) AGAINST ALPHA BETA CONSULTING LIMITED AND ALPHA BETA LLP

The above subject matter refers.

We are solicitors to MR DAPO APARA, hereinafter referred to as our client, and we have his full consent and instruction to write you this petition.

We must first of all thank you and your great organization for the good work you are doing in our country to rid it of corruption, fraud and other vices.

It is however sad that as much as you are trying, some people are hell bent on continually giving the country a bad name and bringing discredit to the Nation and well-meaning Nigerians. One of such is ALPHABETA CONSULTING LIMITED AND ALPHABETA LLP.

The company was incorporated in the year 2002 to carry on the business of Tax Consulting amongst others and our client was the originator of the laudable business idea.

It is sad however that years down the line, the company has become an avenue for official corruption of government officials, a conduit pipe for massive money laundering scheme, tax evasion amongst other vices.

Over the years, the company is being protected and shielded by some powerful politicians and people in the society which made them to always boast of being untouchable, but our client feeling the need not to keep quiet again and strengthened by his believe in the fact that the government of President Muhammed Buhari is keen on fighting corruption which has been the bane of our country, is of the firm believe that its time to expose and open the can of worm called ALPHABETA CONSULTING.

Our client is of the firm believe that it is time for the Commission to step in and conduct a holistic investigation into the activities of ALPHABETA CONSULTING LIMITED AND ALPHABETA LLP, with a view to uncovering the massive corruption, money laundering, tax evasion etc going on in the company. Kindly note that one of the companies being used to perpetrate money laundering by the company is still another company named Ocean Trust Limited.

The only hope of our Client and indeed the teeming Nigerians who are victims of the crimes being perpetrated by these companies, in seeking justice is the Commission which we strongly believe in and therefore call on the commission to cause a holistic investigation into this case and all involved with the aim of bringing these criminals to justice, and not allow their claims of being untouchable to evalidated.

Kindly note sir that as our client is willing and able to provide information to substantiate the claims, though we will plead for these to be done through us as he is presently fearing for his life having been receiving death threat from a lot of quarters because of this case.


The details and address of the company is:


ALPHABETA CONSULTING LLP

WATER HOUSE HEADQUARTERS 1ST FLOOR

LAGOS STATE WATER CORPORATION

IJORA CAUSE WAY.

IJORA LAGOS


While thanking you for your continual cooperation, kindly accept the assurances of our highest esteem.


Yours faithfully

ADETUNJI ADEGBOYEGA ESQ


READ MORE HERE: http://witnessngr.com/tinubus-alphabeta-consulting-firm-in-money-laundering-scandal/

Ex-MD, Dapo Apara petitions EFCC


These are not the best of times for the Doherty Akin-led Alphabeta Consulting Limited and Alphabeta Consulting LLP, a Lagos-based management, information systems and technology consulting firm allegedly owned by the national leader of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu.

The immediate past Managing Director/Chief Executive Officer of the organization, Mr. Dapo Apara, has petitioned the Economic and Financial Crimes Commission, (EFCC), concerning the activities of the organization which border on money laundering.

In a petition to the EFCC through his lawyer (Adetunji Shoyoye & Associates) and made available to the THE WITNESS, Apara accused the consulting firm of laundering over a N100 billion (One Hundred Billion Naira) for top government officials.

According to Apara, Alphabeta Consulting LLP, which is the revenue mobilization and collection advisor to the Lagos State Government has become an avenue for official corruption of government official, a conduit pipe for massive money laundering scheme, tax evasion, amongst other vices.

The former head-huncho of the company further called on the anti-graft agency to cause a holistic investigation into the firm.

Efforts by THE WITNESS to reach Mr. Doherty Akin for the company’s angle to the allegations proved futile as calls and text messages sent to his mobile number were not responded to as at press time.


READ MORE HERE: http://witnessngr.com/tinubus-alphabeta-consulting-firm-in-money-laundering-scandal/



Read the full petition below:


The Executive Chairman

Economic and Financial Crimes Commission

5 Formela Crescent, off Ademola Adetokunbo Street,

Wuse 2

Abuja.


Sir,

PETITION OF A CASE OF MONEY LAUNDERING, TAX EVASION, FRAUD RUNNING INTO OVER N100,000,000 (ONE HUNDRED BILLION NAIRA) AGAINST ALPHA BETA CONSULTING LIMITED AND ALPHA BETA LLP

The above subject matter refers.

We are solicitors to MR DAPO APARA, hereinafter referred to as our client, and we have his full consent and instruction to write you this petition.

We must first of all thank you and your great organization for the good work you are doing in our country to rid it of corruption, fraud and other vices.

It is however sad that as much as you are trying, some people are hell bent on continually giving the country a bad name and bringing discredit to the Nation and well-meaning Nigerians. One of such is ALPHABETA CONSULTING LIMITED AND ALPHABETA LLP.

The company was incorporated in the year 2002 to carry on the business of Tax Consulting amongst others and our client was the originator of the laudable business idea.

It is sad however that years down the line, the company has become an avenue for official corruption of government officials, a conduit pipe for massive money laundering scheme, tax evasion amongst other vices.

Over the years, the company is being protected and shielded by some powerful politicians and people in the society which made them to always boast of being untouchable, but our client feeling the need not to keep quiet again and strengthened by his believe in the fact that the government of President Muhammed Buhari is keen on fighting corruption which has been the bane of our country, is of the firm believe that its time to expose and open the can of worm called ALPHABETA CONSULTING.

Our client is of the firm believe that it is time for the Commission to step in and conduct a holistic investigation into the activities of ALPHABETA CONSULTING LIMITED AND ALPHABETA LLP, with a view to uncovering the massive corruption, money laundering, tax evasion etc going on in the company. Kindly note that one of the companies being used to perpetrate money laundering by the company is still another company named Ocean Trust Limited.

The only hope of our Client and indeed the teeming Nigerians who are victims of the crimes being perpetrated by these companies, in seeking justice is the Commission which we strongly believe in and therefore call on the commission to cause a holistic investigation into this case and all involved with the aim of bringing these criminals to justice, and not allow their claims of being untouchable to evalidated.

Kindly note sir that as our client is willing and able to provide information to substantiate the claims, though we will plead for these to be done through us as he is presently fearing for his life having been receiving death threat from a lot of quarters because of this case.


The details and address of the company is:


ALPHABETA CONSULTING LLP

WATER HOUSE HEADQUARTERS 1ST FLOOR

LAGOS STATE WATER CORPORATION

IJORA CAUSE WAY.

IJORA LAGOS


While thanking you for your continual cooperation, kindly accept the assurances of our highest esteem.


Yours faithfully

ADETUNJI ADEGBOYEGA ESQ


READ MORE HERE: http://witnessngr.com/tinubus-alphabeta-consulting-firm-in-money-laundering-scandal/

The All Progressives Congress, (APC) in Delta State, has come in defence of the immediate past governor of the state, Dr. Emmanuel Ewetan Uduaghan over a statement ascribed to him that the “APC will wrest power from the PDP in 2019” which has come under attack by the ruling party, Peoples Democratic Party, (PDP).

In a statement signed by its Secretary, Comrade Okonji Chidi, on Tuesday, entitled “OKOWA AND PDP: EAT THE HUMBLE PIE AND BURY YOUR HEAD IN SHAME” and made available to our correspondent, the party berated the Okowa administration, saying that “every discerning mind in Delta State knows that the PDP government is a total sham”.

Read full statement below:

“The All Progressives Congress, (APC) in Delta State read with pity the hogwash put together by the Delta State Chapter of the Peoples Democratic Party, dismissing the assertion by former governor of the state and revered chieftain of the APC, His Excellency, Dr. Emmanuel Eweta Uduaghan that the APC will wrest power from the PDP in 2019.

Every discerning mind in Delta State knows that the Okowa administration is a total sham, an administration that have failed in all sectors. The assertion is actually the reality on ground. The PDP which the governor claimed is “still strong and formidable” has been decimated long before now, right from 2015 when those who knew Okowa very well as an ethnic bigot and a very vindictive fellow decided to dump him. It was not the making of His Excellency, Emmanuel Uduaghan that respected chieftain like former Speaker, Rt. Hon (Barr) Victor Ochei who also know Okowa in and out dumped him and his shattered PDP.

The defection of Dr. Uduaghan to the APC which is currently shaking the political landscape and causing the PDP and Governor Okowa high fever is just the icing on the cake when they will eventually loss the 2019 governorship elections and many House of Assembly, House of Representatives and Senate seats to the All Progressives Congress, (APC).

Now that Deltans know that Okowa is a failure, will it not be better for him to eat his humble pie and start preparing his hand over note? Because if Okowa and his drowning party, PDP actually know what has befall them, they would not be jumping here and there thinking the former governor, Uduaghan is their problem. Okowa’s ouster has been in the drawing board since well-meaning and respected Deltans who were ready to work with him realized he was a deceitful fellow.

It is foolhardy for Dr. Ifeanyi Michael Osuoza State Publicity Secretary of PDP to say “when it comes to politics and elections in Delta State, Dr. Uduaghan should realise that he is less than a featherweight”. This are assertion of a party in self-pity. A former governor in capacity of Dr. Uduaghan, remains a heavyweight political figure in Delta politics in and out of government that’s why the PDP and Okowa would continue to break their head over the devastating blow and impending defeat awaiting them in 2019.

For their information, when the defection of Dr. Uduaghan who Governor Okowa de-marketed and tried to discredit became imminent, APC catch on it and started wooing him because we know the value-added advantage he will bring to our party and our avowed determination to send incumbent governor packing in 2019.

“Governor Okowa thinks he is “smart”, he thinks he can outsmart every Deltan that’s why he is always coming out with policies that are anti-people like his fraudulent “Contributory Health Insurance Scheme” which has been adjudged in the media as scam and fraud”.

There is a saying that; “he that the gods want to destroy, they first make mad”. Governor Okowa and PDP are behaving like mad dogs already in everything they are doing, including press releases they have been issuing over what Dr. Uduaghan did to them and we as a party, have the antidote that would silent them forever in Delta State.

Imagine, Osuozu giving away information that Deltans know are exactly what Governor Okowa represents. According to Osuosu, “Out of sheer arrogance and vaulting ambition, he estranged many PDP members with his bad leadership style and worked hard to frustrate and impoverish many of them” which he dashed out while trying to denigrate Dr. Uduaghan but every discerning Deltan is aware that the aforementioned were the exact style of leadership laced with fraud that Okowa has given to Deltans since his assumption of office.

Okowa that we know is an arrogant person, he is treacherous, hot tempered, vindictive, pretentious and a bigot in the highest order. But we want to also thank God and commend all those who saw all this ahead of us in faraway 2014 and decided to dump the PDP and leave Okowa to continue his clannish tendencies that would finally exile him in 2019″.

READ MORE: http://witnessngr.com/delta-apc-defends-uduaghan-says-well-send-okowa-pdp-into-exile-in-2019/

Zik Gbemre

We have countlessly reiterated the fact that the Benin Electricity Distribution Company (BEDC), has proven over the years that they do not have the financial capacity and technical expertise to manage and distribute power within the States under their jurisdiction, especially within Warri and environs of Delta State. When a so-called power distribution company depends on its consumers to buy transformer and electric wiring apparatus before they will distribute power to them, then something is wrong.

In fact, it has been noted that since one Mrs. Funke Osibodu took over the affairs of BEDC in the four States under them, which includes Delta, Edo, etc., no single transformer has been given to any Community. Rather, it has been individuals, who have donated transformers to various Communities for the BEDC to distribute power to them. They also do not have concrete electric polls, feeder pillars, etc. in their offices to address power issues affecting their customers. It is being alleged that as at today, over Seventy Thousand (70,000) pre- paid meters that were supposed to be given to consumers, are locked up at one Nekpen- Nekpen complex in Benin, Edo State.

As a result of this, many, including us, are resisting and calling on the Federal Government and relevant authorities in the Federal Ministry of Power, to stop/deny the renewal of BEDC as a power distribution company. BEDC should be sacked and shown the way out as a power distribution company. And the Federal Government should take over the BEDC and run it with a Federal Interim Power Distribution Management Board, pending when a capable distribution company is directed to takeover after due assessment, due diligence and financial capacity of the new company must been satisfactorily carried out.

It is obvious that the BEDC came on board because they thought that they had the capacity and capability to distribute power. But now that it is apparently clear that they do not have such capacity and capability, the best option is for the Federal Government to take over the BEDC and run it for some time before they get another company that can deliver as expected. We all know that power is key to the development of any country, hence we cannot have mediocrity and inefficiency in the delivery of such a vital public service, by the BEDC. How can supposed power distribution company be waiting for its consumers to buy transformers for them to use for distribution of electricity?

All those consumers that are connected to 33kv lines in Warri and environs for instance, were the ones who bought transformers for BEDC to work with. Some big hotels and rich individuals/landlords in some layouts in Effurun-Warri, had to buy the transformers that were used by BEDC to hook them up to 33kv lines. The question is, how many people can afford to buy transformers to be installed for their own use, and at the same time, pay for the power supply to the BEDC who cannot provide the said transformers.

Is that what is obtainable in other civilized societies? Should this be encouraged as the norm? Obviously not! The Federal Government and relevant authorities need to investigate the activities of the BEDC and they will ascertain the above stated facts. As such, we urge that the BEDC should be sacked as requested. It is in the best interest of the Nigerian people living and doing businesses in the States under them.

Gbemre writes from Warri, Delta State

READ MORE HERE: http://witnessngr.com/a-call-on-fg-to-sack-funke-osibodus-bedc-for-gross-incompetence-by-zik-gbemre/

Keystone Bank Limited, Africa’s best customer service provider recently signed up popular Nollywood actress, writer and producer, Funke Akindele Bello popularly known as ‘Jenifa’ as its official brand ambassador.

By virtue of this partnership, the multiple award-winning screen diva, Funke Akindele, will prominently represent the Keystone Bank brand and feature heavily in the lender’s marketing campaigns and consumer-focused strategies, while leveraging her large followership and popularity that cuts across socio-economic classes and age groups to further deepen the brand’s growing impression in the market.

Speaking during the contract signing ceremony at the bank’s head office in Lagos, on Friday August 17, 2018, the Group Managing Director/CEO of Keystone Bank Limited, Dr. Obeahon Ohiwerei said “the bank will explore every good platform to deepen it’s strength in the retail and youth segment. He reiterated that “The Nigerian entertainment industry is driven largely by SMEs and is growing exponentially, positioning the nation globally and positively impacting our GDP.

We are extremely pleased to partner with a hardworking entrepreneur like Jenifa who is also a role model to a wide spectrum of youths and people from all walks of life. This partnership aligns with our corporate objective of supporting SMEs and empowering enterprising women, through our PINK account and network.”

Commenting on the development, Akindele revealed her excitement at being the Bank’s choice which according to her, is a great institution that Is fast making it’s marks in the sector. “I am delighted to be signed on as a brand ambassador for Keystone Bank. It is a privilege to be associated with one of the fastest growing financial institutions in the country today, We will certainly put the Bank on the World Map together” Akindele said.

Funke Akindele plays the lead character in the ongoing hit TV show ‘Jenifa’s Diary’, a spin-off from the movie titled ‘Jenifa’. Akindele has over 100 movies to her credit.

Since its recent acquisition by Sigma Golf – Riverbank consortium, Keystone Bank Limited, a technology and service-driven commercial bank, offering tailor-made convenient and reliable solutions to customer’s needs has been on upward swing.



PHOTO CAPTION:

L-R: Mrs. Funke Akindele Bello, Keystone Bank Brand Ambassador, Dr. Obeahon Ohiwerei, GMD/CEO, Keystone Bank Limited, and General Counsel, Keystone Bank Limited, Dr. Michael Agamah during the contract signing of Funke Akindele Bello as Keystone Bank Brand Ambassador, at Keystone Bank Head Office in Lagos recently.


READ MORE: http://witnessngr.com/keystone-bank-signs-actress-funke-akindele-as-brand-ambassador/

But Skye Bank, I think your response is just too shallow.... Why don't you guys respond to the issues raised in the reports?

You rendered over 3000 homeless and this is all a corporate organization like SKYE BANK has to say. #Shhhhhh#