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Category: News

CBN sells $10,000 to BDCs at N1,021 per dollar

The Central Bank of Nigeria, CBN, has approved the sale of an additional 10,000 dollars to 1,583 eligible Bureaux De Change, BDC, operators in the country to meet the demands of the market.

The CBN’s Director, Trade and Exchange Department, Dr Hassan Mahmud, made this known in a letter addressed to the President, Association of Bureau De Change Operators of Nigeria, ABCON, on Tuesday in Abuja.

Mahmud said that the CBN would sell to the BDCs at the rate of N1,021 to a dollar.

“The BDCs are, in turn, to sell to eligible end users at a spread of not more than 1.5 per cent above the purchase price,” he said.

He directed all eligible BDCs to commence payment of Naira deposit to some designated CBN Naira deposit account numbers.

“All BDCs are advised to continue to abide by the rules and conditions as stipulated in our earlier operational guidelines,” he added.

Recall that on April 8, the apex bank approved the sale of 10,000 dollars to 1,588 eligible BDC operators at the rate of N1,101 to the dollar amid efforts to stabilize the Naira at the FX market.

The development comes amid the recent drop in the value of the Naira against the dollar. From last month to date, the Naira has depreciated four times.

04/23/2024
Alleged N84bn Fraud: Why Yahaya Bello refuses to appear in court, Lawyer

A governor of Kogi State, Yahaya Bello, has said he is ready to appear before the Federal High Court in Abuja to answer to the 19-count charge brought against him by the Economic and Financial Crimes Commission, EFCC.

Bello, however, claims he is afraid of getting arrested.

Although the former governor was not present for his arraignment on Tuesday, he briefed his team of lawyers who addressed the court.

One of the lawyers in his legal team, Mr Adeola Adedipe, SAN, told the court that Bello would have made himself available for the proceedings, but was afraid that he would be arrested.

“The defendant wants to come to court but he is afraid that there is an order of arrest hanging on his head,” Adedipe said.

Consequently, he prayed the court to set aside the ex parte order of arrest it earlier issued against Bello.

Adedipe noted that it was only at the resumed proceedings on Tuesday that the court okayed substituted service of the charge on the defendant, through his lawyer.

“As at the time the warrant was issued, the order for substituted service had not been made. That order was just made this morning.

“A warrant of arrest should not be hanging on his neck when we leave this court,” he added.

04/23/2024
Naira Abuse: Bobrisky appeals against sentence

Controversial cross-dresser Idris Okuneye, A.K.A Bobrisky has approached the Appeal Court, challenging the six months sentence given to him by a Federal High Court sitting in Lagos.

He pleaded guilty before Justice A.O. Awogboro of the court on a four counts charge bordering on naira abuse proffered on him by Economic and Financial Crimes Commission (EFCC).

However, the court on April 12 sentenced Okuneye to six months imprisonment without an option of fine to serve as a deterrent to others fond of abusing and mutilating the naira.

Not satisfied with the verdict handed to him, Okuneye, through his counsel, Mr Bimbo Kusanu, has approached Court of Appeal, praying it to set aside the sentence.

Specifically, Bobrisky is asking the court to replace the sentence with an option of N50,000 fine on each of the counts.

In the notice of appeal, he submitted that the trial court imposed the maximum sentence on the appellant, who had no previous criminal record of conviction.

He stated that there were options to impose a lesser sentence by the provisions of the Administration of Criminal Justice Act (ACJA).

He averred that the sentence imposed by the trial court against the appellant was punitive and contrary to the mandatory provisions of the ACJA.

The appellant stated that the trial court did not consider the positive antecedent of the appellant, who did not waste the time of the court by pleading guilty to the charge.

He stated that the appellant honoured the invitation of the respondent on the first invitation.

He said that the trial court failed to exercise its discretion judiciously and judicially in sentencing the appellant, explaining that such an act had occasioned a miscarriage of justice against his client.

04/23/2024
Alleged N89.2b money laundering: Court to rule on service of charge on Yahaya Bello through lawyer

Justice Emeka Nwite will Tuesday, rule on the application whether the Economic and Financial Crimes Commission (EFCC) can serve court processes on former governor of Kogi state, Yahaya Bello, through his counsel.

At the last adjourned date, EFCC’s counsel, Kemi Piniero SAN, urged the court to compel the ex-governor’s lawyer to accept service of the processes, explaining that it has been impossible to serve the charge sheet on him personally.

Counsel to Yahaya, Abdul Wahab Mohammed, said he doesn’t have the authority of the defendant to accept service of the charges and proof of evidence.

He insisted that the Abuja division of the court or the EFCC cannot arraign his client adding that his preliminary objection application has to be taken first, but the EFCC came behind him through a motion-exparte to obtain a warrant of arrest.

Therefore, the court adjourned to reconvene Tuesday for ruling.

The EFCC , Thursday, informed Justice Emeka Nwite about its intension to invite the Nigerian Army to effect the arrest of former governor of Kogi State, Yahaya Adoza Bello for arraignment before a Federal High Court sitting in Abuja.

The anti-graft agency, through its legal team, issued the threat before the court after explaining how a person of immunity protected Bello from arrest following the court’s bench warrant.

The court had fixed today(Thursday) for arraignment of Bello alongside the ex-governor’s nephew, Ali Bello, Dauda Suleiman and Abdulsalam Hudu on 19- count charges bordering on money laundering to the tune of N80, 246, 470, 088.88.

When it was called up, Thursday, EFCC’s counsel, Kemi Piniero SAN, said in open court that the Commission was aware that Bello has been harboured in the home of a person that has immunity.

He submitted that immunity is only attached to a person, not his house or car, adding that the law allows Nigerian security agencies to break into a house to arrest a defendant.
He said,

Some of the counts read:

“That you, Yahaya Adoza Bello, Ali Bello, Dauda Suliman, and Abdulsalam Hudu( Still at large), sometime, in February, 2016, in Abuja within the jurisdiction of this Honourable Court, conspired amongst yourselves to convert the total sum of N80, 246,470, 088.88 (Eighty Billion, Two Hundred and Forty Six Million, Four Hundred and Seventy Thousand and Eight Nine Naira, Eighty Eight Kobo), which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit, criminal breach of trust and you thereby committed an offence contrary to Section 18(a) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended”.

“That you Yahaya Bello between 26th July 2021 to 6th April 2022 in Abuja within the jurisdiction of this Honourable Court aided E-Traders International Limited to conceal the aggregate sum of N3, 081, 804,654.00 (Three Billion, Eighty One Million Eight Hundred and Four Thousand Six Hundred and Fifty Four Naira) in account number 1451458080 domiciled in Access BankPlc, which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit, criminal breach of trust and you thereby committed an offence contrary to Section 18(a), 15(2) (d) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under Section 15 (3) of the same Act.

“That you Yahaya Adoza Bello sometime in November 2021 in Abuja within the jurisdiction of this Honourable Court indirectly procured E-Traders international Limited to transfer the aggregate sum of $570,330.00 (Five Hundred and Seventy Thousand, Three Hundred and Thirty Dollars) to account number 4266644272 domiciled in TD Bank, United States of America which sum you reasonably ought to have known forms part of proceeds of unlawful activity to wit, criminal breach of trust and you thereby committed an offence contrary to Section 15(2) (d) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under Section 15( 3) of the same Act”.

Bello’s arraignment followed a warrant of arrest and enrolment order granted the EFCC by Justice Emeka Nwite, Wednesday, in the motion ex-parte marked: FHC/ABJ/CR/98/2024 and filed by the EFCC lead counsel, Rotimi Oyedepo.

The EFCC counsel argued that the ex-governor needs to be apprehended by security agencies so as to fast track his arraignment in court and immediate trial.
The anti-graft agency maintained that the judge should either order Bello’s arrest or issue a public summons commanding the defendant to appear before the court.

04/22/2024
Bayelsa Guber: Tribunal reserves judgment in petition against Diri

The Bayelsa State Governorship Election Petition Tribunal has reserved judgment in a petition filed by the candidate of the All Progressives Congress (APC), Timipre Sylvia against the declaration of Douye Diri as the governor of the state in the November 2023 election.

Chairman of the tribunal, Justice Adekunle Adeleye, on Monday in Abuja, announced that the judgment would be delivered within the 180 days statutorily allowed by law.

The chairman said that all the parties in the petition would be communicated as soon as the judgment delivery date is fixed.

At Monday’s proceedings, the petitioners, Sylvia and APC, adopted their final written address, praying the tribunal to annul the declaration of Diri as the winner of the election.

Their lead counsel, Dr Onyechi Ikpeazu, SAN, told the tribunal that the Independent National Electoral Commission, INEC, embarked on wrongful exclusion of results before arriving at the declaration of Diri as winner.

The petitioners’ lawyer stated that the electoral body did not debunk the allegation of wrongful exclusion of results by not calling the state election result collation officer to testify.

He therefore urged the tribunal to objectively decide the petition on the strength of the evidence adduced by the petitioners, especially because INEC did not call a single witness to challenge all the allegations.

However, Diri’s counsel, Chris Uche, SAN, informed the tribunal that the petition by Sylvia died on arrival because it is grossly deficient in quantity and quality of evidence.

He said that the petition was baseless, frivolous and vexatious, and grossly lacking in merit because the two petitioners did not discharge the burden placed on them by law

Among others, Uche said that Sylva predicated his petition on alleged refusal of INEC to collate results in three local governments areas- Southern Ijaw, Nembe and Ogbia but failed to call a single collation officer to back up its claim

Besides, Uche said that Sylvia did not tender voter register, BVAS machines, and form EC8A used for the purported election in the three local governments to establish his allegations.

The senior lawyer also said that the petitioner himself, despite having a witness statement on oath, refused to give evidence before the tribunal to substantiate his allegations.

The senior lawyer also said that the petitioner himself, despite having a witness statement on oath, refused to give evidence before the tribunal to substantiate his allegations.

Uche pleaded with the tribunal to discountenance the evidence of a former Police Commissioner in the state on the ground that the police officer admitted before the tribunal that he had issues with Diri when the Prado Jeep earlier given to him was withdrawn.

Uche also urged the tribunal not to invoke the spirit of the judgment that brought Imo State governor, Hope Uzodinma, into office, adding that INEC has established beyond doubt that election did not hold in the three local governments due to resistance by some hoodlums to the use of BVAS machines.

Similarly, INEC, represented by Charles Edosomwan, SAN, and Peoples Democratic Party, PDP, represented by Tayo Oyetibo, SAN, canvassed for dismissal of the petition on the ground that the two petitioners failed and neglected to discharge the burden of establishing their allegations against the election beyond reasonable doubt as required by law.

They asserted that they did not call witnesses because the witnesses of petitioners killed and buried the petition while being cross examined during the proceedings.

It will be recalled that INEC had declared Diri winner of the gubernatorial election on the ground that he scored the majority of lawful votes cast in the poll.

04/22/2024
Tinubu declares Counter-Terrorism meeting open

President Bola Tinubu has declared the high level African Counter-Terrorism meeting open.

The meeting, which is holding at the Offoce of the National Security Adviser on Monday, April 22, has in attendance special guests including the Under-Secretary General, United Nations office of Counter-Terrorism, Vladimir Voronkov, Deputy Secretary-General , United Nations, Amina Mohammed, President Republic of Benin, Patrice Talon, President Republic of Ghana, Nana Akufo-Addo, President Republic of Togo, Faure Gnassingbe, amongst others.

The Special Assistant to the President on Social Media, Dada Olusegun wrote: “President Bola Ahmed Tinubu (GCFR) declares open, the High Level African Counter-Terrorism meeting at the Office of the National Security Adviser (ONSA).

“Special guests at this high level security summit include:

“Mr Vladimir Voronkov, Under-Secretary General, United Nations office of Counter-Terrorism

“Ms Amina Mohammed, Deputy Secretary-General , United Nations

“H.E Patrice Talon , President Republic of Benin

“H.E Nana Akufo-Addo, President
Republic of Ghana

“H.E Faure Gnassingbe, President
Republic of Togo

“HM #YusufTuggar, Foreign Affairs Minister of Nigeria

“General Hanana Hanana , Minister of National Defence, Mauritius

“Mr Moussa Faki Mahmat, Chairperson, African Union Commission.”

04/22/2024
Nigeria not ripe for state police, says IGP Egbetokun

The Nigeria Police Force has opposed the establishment of state police, saying the country was not ripe for such.

Speaking at a one day dialogue on state policing, Inspector General of Police (IGP), Kayode Egbetokun said the establishment of state police will execerbate ethnic tension, leading to divided loyalty in the states.

Represented by AIG Ben Okolo, the Inspector General of Police said the establishment of state police will also lead to multiple command structures in the states.

He also said that state governors are likely to abuse the privilege of state police by using it for political gains, leading to possible abuse of power and abuse of huma rights.

He argued that the state government lack thereof required funding that will give birth to the type of policing that the nation requires.

Rather than estabalisibg state police, he recommend the merging of the Nigeria Security and Civil Defence Corps and the Federal Road Safety Commission to form a department in the Nigeria Police Force.

He also said there is the need for a yearly recruitment of about 30,000 police personnel into the force annually to meet the UN requirements for morden policing, while also increasing annual budgetary allocation to the force.

04/22/2024
FG Resumes Prosecution Of Boko Haram Detainees In Kainji — Ribadu

Nigeria has resumed the prosecution of all Boko Haram detainees in Kainji

The National Security Adviser (NSA), Nuhu Ribadu, disclosed this at the 2-day High-level African Counter-terrorism Summit in Abuja

According to him, Nigeria is also gathering intelligence on the activities of Boko Haram and the Islamic State–West Africa Province (ISWAP), to tackle the groups headlong.

The Under-Secretary-General for Counter-Terrorism, United Nations Office on Counter-Terrorism, Vladimir Voronkov, said the success of the United Nations lies in the collaboration of African countries towards providing African-based solutions.

04/22/2024
Rainstorm Plunges 40 Ogun Communities Into Darkness

Forty communities in Ogun State have been plunged into darkness following a rainstorm on Sunday.

The downpour which began around midday, destroyed electricity facilities in some parts of the state, leading to a blackout.

“Due to broken poles occasioned by the heavy downpour at Ota and Mowe, customers in the following communities: lyana lyesi, Osuke Town, Egan Road, lyana Ilogbo, Ijaba, Ijagba, Itele, Lafenwa, Singer, Joju, Alishiba, Oju Ore, Tollgate, Eledi, Akeja, Abebi, Osi Round About, Ota Town, Ota Industrial Estate, Igberen, lju, Atan, Onipanu, Obasanjo, Lusada, Arigba, Odugbe, Ado-Odo, Igbesa, Owode,” the Ibadan Electricity Distribution Company (IBEDC) said in a statement late Sunday.

“Olokuta, Hanushi, Bamtish Camp Lufiwape, Eltees Farm, August Engineering, Spark Cear Soap Ayetoro, Amazing Grace Oil, Christopher University, Royal Garden Estate, Pentagon Estate, and environs are experiencing power outages”.

It called on residents of the areas to avoid “contact with the broken poles, saggy wires or any other electrical installation affected by the rain”.

“Our technical team is working to clear and replace the broken poles and installations to ensure power supply is restored as soon as possible,” IBEDC said.

04/22/2024
Naira Abuse: I’m only artiste who stops people from spraying me – Seun Kuti

Afrobeat singer, Seun Kuti has claimed he is the only musician in Nigeria who stops people from spraying him currency bills when performing.

He also claimed that a lot of artistes, especially fuji musicians praise people in melodies during their performances just so that they can be sprayed.

Kuti made the claims against the backdrop of the Economic and Financial Crimes Commission, EFCC’s crackdown on Naira abusers.

Speaking in a video message shared via his Instagram account, he said: “I don’t even like to be sprayed. I’m the only artist that stops people from spraying me. Even my dad, the legendary Fela didn’t prevent people from spraying him but he demanded the denominations he wanted to be sprayed.

“Nobody wey Sunny Ade never sing for so he can be sprayed. Everybody name. KWAM 1 … eh eh. It is the politicians that made spraying a standard behaviour.”

04/22/2024