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UK Freezes Erastus Akinghola’s Assets Globally

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A United Kingdom Court in London has ordered a temporary forfeiture of all assets, both identified and unidentified, belonging to the wanted former group managing director and chief executive officer of Intercontinental Bank Plc, Mr. Erastus Akingbola.

The order, known, as Mareva order, covers all assets traceable to him globally, including his investments, cash in bank accounts and property, among others.

It was granted on December 23, 2009.

The order is used to preserve assets in a situation where there are fears that the other party in a case may waste or dissipate the assets in contention.

It was gathered that the temporary forfeiture order was jointly sought by the Economic and Financial Crimes Commission (EFCC) and the new management of Intercontinental Bank, following a tip-off that he was in the process of moving £3.3 million about N858 million from Isle of Man, an Island in the Caribbean to London.

His total investment in the Island is said to be about N12 billion.

The Island is known in the banking world as the safe haven for bankers to hide slush funds.

Before the move by the commission, Akingbola was alleged to have moved a huge sum of money from his investment in the Island to purchase some property in London.

In the Mareva order, which is now in the possession of the anti-corruption agency, property allegedly bought by Akingbola during the initial cash movement reportedly included houses on numbers 17, 18, 19, 20 on Finchey Road, London, as well as the property located at 26, Chesire Terrace, London.

EFCC, which is set for the implementation of the order, was said to have moved in particular for the all-covering order to stop Akingbola from dissipating the assets, which the commission claimed were proceeds of crime.

The commission was said to have convinced the court to grant the global order after it was able to provide evidence that he had initially moved monies from the Island to buy property in London.

In the charge filed against him in a Federal High Court in Lagos by the commission, which is being used to push for his extradition, the property traced to him were described as proceeds of the alleged crime he committed with shareholders’ funds, while at the bank.

Commission’s spokesperson, Mr. Femi Baba-Femi could not be reached on his mobile phone for comments on the development.

Four top management staff of the bank arrested over another alleged N12 billion fraud involving Akingbola are still being detained on court order by the commission.

The affected top officers included Akin Fabunmi, Financial Controller; Toyin Odesilo, Head, Domestic Operations and Toyin Oyelade, Treasurer.

It was gathered that they allegedly removed N12 billion from the bank’s General Legal Account in November and gave some to Akingbola.

According to information from the commission, the affected bank top shots had in November moved N2 billion to a subsidiary of the bank {names withheld}, from where it was moved to a bureau de change where it was converted to Pounds Sterling and wired to Akingbola’s domiciliary account with the bank before it was finally wired to another account of his in the United Kingdom.

He was said to have successfully withdrawn the money before the commission was called into the alleged scam.

In the same month, another N10 billion was reportedly moved by the same people into the accounts of some companies owned by Akingbola domiciled with Access Bank Plc, before it was finally paid to Access Bank to defray the N10 billion debts Akingbola and his companies owed the bank.

Five non-executive directors of the bank were recently fingered in another alleged fresh N50 billion scam.

The money, which was said to have been shared among the five directors, was believed to be part of the missing N1 trillion in the sector.

It was gathered that while N1.2 billion was shared by the five former directors in March, 2008 as bonus, another N1.8 billion was shared among them in the same month.

The commission’s sustained investigation into the books of the troubled bank was said to have uncovered another fresh N31 billion allegedly laundered by Akingbola while at the helms of affairs in the bank.

In May 2009, the probe report stated that Akingbola allegedly used his own registered company, Tropics Properties Ltd, to launder over N13 billion investors’ funds.

The first payment made into Tropics account was N4.5 billion, the second being N4.4 billion, while the third was N4.06 billion.

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Fubara Tasks Nigeria’s Surveyor-General On C of O …Says Surveyors’ Role Pivotal In Governance

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Rivers State Governor, Sir Siminialayi Fubara, has expressed concern over certain unprofessional practices within the surveying profession, urging practitioners to address issues surrounding the acquisition of Rights of Way and seismic operations in the State.

The governor also raised strong objections to what he described as threats to land ownership and title in the State through the alleged issuance of Federal Certificates of Occupancy by the Office of the Surveyor-General of the Federation and other affiliated federal agencies.

According to him, such actions are contrary to Section 1 of the Land Use Act, Cap L5, Laws of the Federation of Nigeria 2004, which vests all land within a state in the Governor as trustee on behalf of the people.

Fubara made the remarks while speaking as Special Guest at the National Conference of the Association of Private Practicing Surveyors of Nigeria (APPSN), a sub-group of the National Institute of Surveyors (NIS), held at the Obi-Wali Cultural Centre, Port-Harcourt, yesterday.

Represented by the Secretary to the State Government, Dr Benibo Anabraba, the governor also expressed concern over the problem of land grabbing through illegal survey plans and the payment of inadequate compensation to landowners during compulsory land acquisition for oil and gas exploration by licence holders, urging surveyors to uphold professionalism and fairness in their practice.

He said such illegal activities negatively affect the development of the State.

Fubara urged surveyors to promote ethical and sustainable planning practices that protect the environment, including the preservation of green spaces, marine areas, and forest reserves.

He described the role of surveyors as pivotal to the growth, development, peace, and orderly governance of any society.

According to him, the services of surveyors are critical to physical and urban planning, housing development, land administration, and the provision of infrastructure.

He stressed that surveyors play indispensable roles in land use and management, infrastructure provision, environmental management, and conflict resolution, noting that their presence in government ministries, departments, and agencies ensures adherence to best practices.

“The role of surveyors in governance is pivotal to the growth, development, peace, and order of society, particularly in land administration, infrastructure development, environmental management, and conflict resolution,” the governor said.

He noted that the conference theme, “Mapping the Future: The Vital Roles of Surveyors in the Nigerian Oil and Gas Industry,” was particularly significant to Rivers State, given its position as the hydrocarbon heartbeat of the nation.

The President of the Nigerian Institution of Surveyors (NIS), Surv. Pius Eze, urged all participants to optimize the opportunity provided by the conference for professional upgrading and networking, adding that the conference displays consistency of vision and dedication to the welfare of private practitioners.

The National Chairman of APPSN, Surv. Simepiriye Kalio, thanked leaders and members of the association for their sacrifices to achieving the successes recorded.

The Chairman of APPSN, Rivers State chapter, Surv. Andy Nwikinane, said that the association was working with relevant stakeholders to prevent the infiltration of quacks  in the profession.

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African Leaders Should Be Under 50 -Jonathan

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Former President Goodluck Jonathan has called for a generational shift in African leadership, urging countries across the continent to deliberately promote younger leaders between the ages of 25 and 50.

According to him, younger leaders are more physically and mentally equipped for the rigours of modern governance.

Jonathan made the call in Abuja, yesterday, at the International Memorial Lecture and Leadership Conference marking the 50th anniversary of the assassination of former Head of State, General Murtala Ramat Muhammed.

Reflecting on the demands of leadership, the former president recalled that while in office, he sometimes had no more than two hours of sleep in 24 hours, stressing that advanced age can limit the capacity to cope with the pressures of governance.

“Why do we begin to think that you must be a hundred years old before you can rule your country?” Jonathan asked.

He noted that leadership requires unusual stamina and resilience, arguing that younger leaders are better positioned to withstand the pressure.

“If they need to stay awake for 24 hours, they can stay awake for 24 hours. When I was in office, some days I did not sleep up to two hours. If you subject an older person to that kind of stress, the person will spend 50 per cent of the time in hospital,” he said.

Jonathan aligned his position with the spirit of Nigeria’s “Not Too Young To Run” movement, which seeks to lower age barriers for elective offices and encourage youth participation in politics.

“I have to reinforce the Not Too Young To Run movement. We have to bring some of these age limits down. If we are looking for people who can run nations in Africa, we should look within the 25 to 50 age bracket. That is when you can be very vibrant, physically strong and mentally sound,” he said.

He also questioned the practice of some public office holders spending extended periods outside their states or countries.

“In a country like the United States, some governors do not leave their states for four years. But here, some of our governors spend 50 per cent of their time outside. So who runs the state? Why will we not have security problems? Coming of age must transcend many things. First and foremost, we must have the discipline to manage ourselves,” he added.

Reflecting on the legacy of General Murtala Muhammed, Jonathan said the late leader demonstrated that age was not a barrier to decisive and visionary leadership. Muhammed became Head of State at 38 and, despite ruling for only 200 days, left a lasting impact.

“General Murtala Muhammed assumed office at the very young age of 38. Despite a tenure of only 200 days, his achievements were profound because he was driven by a clear, unyielding vision.

“His leadership sent a clear message: leadership was to serve the national interest, not personal ambition,” Jonathan said.

The former president also referenced other Nigerian leaders who assumed office at relatively young ages, including General Yakubu Gowon, who became Head of State at 32 and later introduced the National Youth Service Corps, which remains in existence to this day.

“Young man of 32 managed to pull the country through the civil war. So why do we now think leadership must only come at old age?” he asked.

However, Jonathan cautioned that youth alone is insufficient without discipline, patriotism and strong institutions.

While praising Muhammad’s decisiveness, he stressed that democracy depends more on institutions than on individuals.

“Democracy requires vision rather than decree. It requires persuasion instead of command. It depends on institutions, not individuals. Above all, it requires respect for the rule of law and the willingness to submit power to the will of the people,” he said.

He urged African leaders to view governance as stewardship rather than entitlement and encouraged young people to see leadership as service.

“Young people must see leadership as service, not entitlement. Leaders must see governance as stewardship, not a right,” he said.

“I sometimes remember when I contested as a deputy governorship candidate. You had to be 40 years old before you could even be a senator, a deputy governor or a governor, not to talk about president. Yet the Head of State we are celebrating today assumed office at 38,” he added.

Calling on Nigerians and Africans to draw lessons from history, Jonathan said leadership should be measured by impact rather than duration in office.

“As we mark 50 years of General Murtala Muhammed’s legacy, let us remember that leadership is not measured by how long you govern; it is measured by the courage to act decisively when the nation needs direction and by the impact you make on society,” he said.

He emphasised that while military leaders govern by command and authority, democracy demands a different approach anchored on strong institutions, credible electoral bodies, an independent judiciary, well-trained security agencies and accountable governance systems.

“While General Murtala Muhammed symbolised decisive leadership, our democratic future depends on strong institutions. Democracy requires vision rather than decree. It requires persuasion instead of command. It depends on institutions, not individuals. Democracy also demands restraint and respect for the rule of law,” Jonathan said.

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Police Bust Kidnapping Syndicate In PH

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The Rivers State Police Command has confirmed the arrest of two men linked to a criminal syndicate that lured, kidnapped, and robbed women working as “run girls” in Port Harcourt hotels.

The suspects, 27-year-old Albert Koko-Ete Hanson and 18-year-old Wisdom Okon from Abak Local Government Area of Akwa Ibom State, were apprehended after victims reported the crimes to hotel security.

One of the victims, simply identified as Faith, told the police that she was invited to a hotel under the pretense of a client request and was led to a two-bedroom apartment where the suspects were staying.

She said the suspects showed her a photograph of another woman, whom they claimed was owing them N5 million, and demanded her phone password to access her bank account. Her phone was seized, though she had no money in her account.

Faith also alleged that another female victim had already been tied and blindfolded in a bathroom, and both were later stripped and sexually assaulted, with threats of organ harvesting reportedly made by the suspects.

It was learnt that a third victim alerted friends in the hotel via text message while the suspects tried to access her bank app. The quick action of the hotel security team led to the rescue of all the three victims.

The prime suspect, Albert Koko-Ete, reportedly confessed to the crimes and revealed that he had been operating the syndicate for six years, earning over N18 million naira.

Rivers State Police Public Relations Officer, CSP Grace Iringe-Koko, warned young women against engaging in prostitution, citing the high risks involved.

Iringe-Koko advised women to acquire skills and seek legitimate means of income, revealing that the syndicate specifically targeted women with high-end devices such as iPhone 15 and above.

The Police confirmed that the suspects’ method involved identifying women they could abduct to extort money from them or their relatives.

The Police said the suspects remain in custody and will be arraigned in court once investigations are complete.

The Command reiterated its commitment to protecting citizens and dismantling criminal networks preying on vulnerable individuals.

King Onunwor

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