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Court Orders Fresh Seizure of $2.045m, Others From Emefiele

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Emefiele's arrest

By Adedapo Adesanya

The Federal High Court in Lagos has ordered another interim forfeiture from embattled former Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, this time to include a cash sum of $2.045 million and seven landed properties, among others.

Justice Akintayo Aluko gave this directive on Thursday, August 15, after taking an application from the Economic and Financial Crimes Commission (EFCC) counsel, Mr Rotimi Oyedepo (SAN).

The seized lands are listed as “Two fully detached duplexes of identical structures, lying being and situated at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped/bare land, measuring 1919.592sqm with Survey Plan No. DS/LS/340 LYING, being and situate at Oyinkan Abayomi Drive (Formerly Queens Drive), Ikoyi, Lagos; a bungalow lying, being and situate at No. 65a Oyinkan Abayomi Drive, (Formerly Queens Drive), Ikoyi, Lagos; four bedroom duplex lying, being and situate at 12a Probyn Road, Ikoyi; Industrial complex under construction on a 22-plot of land, lying, being and situate in Agbor, Delta State; 8 units of the undetached apartment on a plot measuring 2457.60sqm OF lying, being and situate at No. 8a Adekunle Lawal Road, Ikoyi, and a full duplex together with all its appurtenances on a plot of land measuring 2217.87sqm lying, being and situate at 2a Bank Road, Ikoyi, Lagos”.

Justice Aluko further ordered the interim forfeiture of 2 shares of share certificates of Queensdorf Global Fund Limited Trust.

In urging the court to forfeit the assets, Oyedepo said the money and other items sought to be forfeited are reasonably suspected to be proceeds of unlawful activities.

Mr Oyedepo also added that the orders sought are pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006, Section 44 (2)(B) of the 1999 Constitution of the Federal Republic of Nigeria and the court’s inherent jurisdiction.

The lawyer also told the court that the motion ex parte is supported by an affidavit deposed to by one Idi Musa, an Investigator attached to the Lagos office of the EFCC.

“In the cause of this investigation, it was revealed that the erstwhile CBN governor negotiates kickbacks in return for allocation of Foreign Exchange to some companies who were in desperate need of foreign exchange for their lawful and legitimate businesses.

“That upon investigation, it was revealed that one Ifeanyi Omeke, a Deputy General Manager and Head, Litigation of Zenith Bank Plc, who worked closely with Godwin Emefiele ran several errands for him which included purchase and perfection of title documents for several properties located in highbrow areas of Lagos. And that upon a search conducted in the office premises of Mr Ifeanyi Collins Omeke by the operatives, several seals for various companies including but not limited to Queensdorf Global Fund Limited were recovered.

“That the said seals were kept in the custody of Mr Ifeanyi Collins Omeke by Godwin Emefiele. And that Investigation has revealed that all seven companies listed above are suspected to be shell companies used by Godwin Emefiele as vehicles for money laundering and holding proceeds of his illicit activities.

“That sometime in 2018, one Olusola Bodunde acquired a parcel of land located at Hakeem Odumosu Street, Lekki Phase 1, Lagos and partnered with one Idowu Sharafa to develop three units of 5-bedroom duplexes with attached BQ on the land. And that sometime in 2020, one Ifeanyi Omeke approached Mr Olusola Bodunde and subsequently paid the total sum of N460,000,000. 00 (Four Hundred and Sixty Million Naira) for two of the three developed duplexes, purchased in the name of Amrash Ventures Limited, all on behalf and the instructions of Godwin Emefiele.

“That the sum of Two Million, Forty-Five Thousand Dollars ($2,045,000.00) and the shares certificate, were also recovered in the office of Mr. Collins Ifeanyi Omeke at the Zenith Bank Head office on Ajose Adeogun Street, Victoria Island, Lagos.

“That most of the proceeds of Godwin Emefiele’s illegal activities were invested in the acquisition of various properties now sought to be forfeited to the Federal Government of Nigeria. And that the properties now sought to be forfeited were not acquired with proceeds of any legitimate earnings but rather from funds reasonably suspected to have been derived from proceeds of unlawful activities.”

After listening to Mr Oyedepo’s submissions and reading through all the processes filed and the plethoras of legal authorities cited, Justice Aluko granted the interim forfeiture of the money, the share certificates and the landed properties.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Obasa Makes First Appearance at Lagos Assembly After Impeachment

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By Adedapo Adesanya

Mr Mudashiru Obasa made his first appearance at the Lagos State House of Assembly complex on Thursday, February 27, 2025, after he was impeached as the Speaker on January 13, 2025.

The former speaker entered the chamber flanked by armed and uniformed security operatives, who ushered him into the premises.

Business Post reports that Mr Obasa was welcomed with an ovation by his supporters and well-wishers

The politician was welcomed at the entrance gate of the Assembly Complex.

The 40-member House removed the Agege I representative as Speaker by more than two-thirds of the house over alleged misconduct and corruption offences.

Mr Obasa’s then deputy, Mrs Mojisola Meranda, was immediately elected the new Speaker, becoming the first female to take charge of the legislative body in the South-West state.

With her emergence, Mrs Meranda, who represents Apapa Constituency I, ended the 10-year reign of Mr Obasa on the seat.

Mr Obasa was first elected into the House in 2007. He has been in the chamber since then. He emerged as a speaker in June 2015 before his removal in January 2025. He is believed to have the strong support of President Bola Tinubu, who reportedly asked for his return and the resignation of Mrs Meranda.

It is not immediately clear what the next development will be with his return to the chamber, but Mrs Meranda has about 36 members of the state parliament as loyalists. They have all supported and passed a vote of confidence on her, insisting that Mr Obasa has no room to return to the position despite claiming he was not lawfully removed from office.

Last week, some agents of the Department of Security Services (DSS) and legislative workers clashed in the chambers.

The incident led to 36 lawmakers passing a vote of confidence in Mrs Meranda, who was teary-eyed.

Meanwhile, the police had earlier allegedly withdrawn all the escorts attached to the speaker.

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EFCC Laments Crypto Funding of Fraud Syndicates’ Cells

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By Adedapo Adesanya

The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, says organised foreign fraud syndicates are establishing cells in Nigerian cities and recruiting youths into serious organised cybercrimes, made easy by cryptocurrencies.

This was disclosed by the anti-graft agency in a statement signed by its spokesperson, Mr Dele Oyewale, on Thursday in Abuja.

Mr Olukoyede said this while receiving participants of the Executive Intelligence Management Course (EIMC) 18 of the National Institute for Security Studies (NISS) on Wednesday in Abuja.

He said the team was led by the institute’s Director of Studies, Mr Hyginus Ngele, to the commission.

Mr Olukoyede expressed surprise at how bandits and insurgents were able to sustain their activities in the country over the years.

He noted with concern, the rate of flow of small arms and light weapons across the borders and the involvement of non-state actors in the illegal exploitation of minerals in parts of the country.

The EFCC boss said all these activities compounded the threats in the security landscape.

“Another dimension that is not given attention is the discovery, recently, that organised foreign fraud syndicates are establishing cells in Nigerian cities.

”They are recruiting young Nigerians into serious organised cybercrimes, including cryptocurrency fraud.

“By the virtue of EFCC’s recent discovery, we are beginning to see the likelihood, the propensity that a lot of these people are into illegal importation of arms into the country using cryptocurrency as means of payment.”

According to him, this is an area that must interest all and sundry.

“In the special operations we carried out in Lagos recently, we arrested 194 foreigners in the heart of Victoria Island.

”They comprised Chinese, Filipinos, Eastern Europeans, Tunisians and among others in one building at a time. You can imagine what these guys are doing, 194 of them.

“Some of them don’t even have valid visas and most of the financial activities they carried out were through cryptocurrency,” he said.

He said the commission also discovered that some of the foreigners arrested were already ex-convicts in their countries.

“Some of them have been convicted and escaped from their countries and found safe haven in Africa, not only Nigeria.

“We discovered that they are also developing cells in some other African countries by virtue of the investigation we are carrying out,” he said.

The EFCC boss called for spirited efforts at both national and continental levels to combat the menace of internet fraud.

He stressed that the money laundering and national security dimension of the presence of foreign organised crime groups demanded close scrutiny.

“All security, intelligence and law enforcement organisations in Nigeria and indeed Africa, must close ranks in dealing with this challenge,” he said.

On his part, the NISS commandant, Mr Joseph Odama, who spoke through Mr Ngele, praised Mr Olukoyede’s leadership of the EFCC for the commission’s “remarkable achievements in combating corruption, money laundering, and other financial crimes.”

He noted that the achievements had not only strengthened Nigeria’s integrity but also served as a model for other nations in Africa and beyond.

He said the EFCC, under Mr Olukoyede, had been at the forefront of investigating and prosecuting financial crimes, including those involving non-state actors.

“Your commission’s exploratory activities have uncovered the intricate networks through which some NGOs and other entities channel funds to support hostile non-state actors, thereby, fueling instability in various parts of the country and the African continent.

“We recognise the critical role the EFCC plays in disrupting these networks and ensuring accountability.

“In light of this, we are particularly interested in hearing your insights on how your commission navigates the complexities of investigating and prosecuting cases involving non-state actors.

“We also seek your contributions on how Nigeria and other African nations can strengthen legal and institutional frameworks to address the challenges posed by these actors while promoting transparency and accountability in their operations.”

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NSCDC Intercepts 1,571 Litres of Petroleum Products in Zamfara

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By Adedapo Adesanya

The Zamfara State Command of the Nigeria Security and Civil Defence Corps (NSCDC) has intercepted 1,571 litres of petroleum products in the Northern state.

According to the security outfit, the products were illegally transported in jerry cans to banditry-prone areas.

The State Commandant, Mr Sani Mustapha, in a statement by the Public Relations Officer of the command, Mr Umar Muhammad, revealed that four suspects were arrested in connection with the crime at two separate locations.

Among them were two filling station pump attendants and two buyers apprehended in the Birnin Magaji and Tsafe Local Government Areas of the state.

Mr Muhammad disclosed that aside from transporting fuel from unauthorised locations, the suspects also violated the Executive Order prohibiting the sale of petroleum products in jerricans within Zamfara State.

He stated that two of the suspects were caught in Birnin Magaji with 1,296 litres of fuel, while the other two were arrested in Tsafe with 275 litres of the product.

“Today, we bring before you four suspects apprehended for illegal dealings of Premium Motor Spirit (PMS) in large quantities, violating the National and State Executive Order of petroleum products sales to retailers in jerry cans,” he stated.

The NSCDC assured citizens that investigations are ongoing and reaffirmed its commitment to enforcing the law to curb illegal fuel diversion and activities that could aid insecurity in the state.

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