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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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FG Mulls Introduction Of Private Firefighters

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The Federal Government says it is proposing to broaden the scope of the National Fire Academy to accommodate private firefighters to address fire incidents across the country.
The plan, if carried out, would lead to the emergence of private firefighters in the country.
Speaking after his first official inspection tour of the academy, the Minister of Interior, Olubunmi Tunji-Ojo, said the fire service could have certified private firefighters like the Nigeria Security and Civil Defence Corps’ private guards.
He added that private firefighters were needed to enhance the fire service’s operations as well as improve their response time.
This was contained in a statement by the Minister’s Media Adviser, Alao Babatunde, yesterday.
The statement partly read, “Today, we have over 3 million private guards certified by the NSCDC. We can have something similar for the fire service. We need private fire service men to enhance our service and response time. The President’s #RenewedHope agenda has charged us to be innovative if we must change the narrative.
“As a matter of fact, this is another innovative way to generate revenue because we expect that anyone looking to become a safety or security guard should get trained and certified by this academy.”
Tunji-Ojo urged all institutions and recreation centres to engage certified fire and safety personnel trained by the academy when the plan materialises.
He said: “A lot has been done, but there is still a lot more to be done. With what I have seen here, I can guarantee you that we will work very hard to see that this facility will not only be useful in training officers of the fire service but also for the private sector.
“We must make fire safety a personal affair. Every institution, commercial and social recreation centre should have certified fire and safety personnel, trained by this facility.
“All public and commercial buildings and infrastructure such as banks, hotels, malls, restaurants, or even government buildings should have first responders that can administer basic fire fighting remedy while waiting for the arrival of a full operation squad of the country’s Fire Service”.

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Decentralise Pipeline Surveillance Contracts, Ondo Ex-Militants Urge Tinubu

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A group of ex-militants in Ondo State, on Wednesday, called on President Bola Tinubu to revisit the pipeline surveillance project and decentralise the awarding of the contract.
The group, under the auspices of the Ondo State Niger Delta Coastal Vanguard, said decentralisation of the contract would enhance the security of pipelines on waterways.
This was contained in a statement issued by the Public Relations Officer of the group, Chief Lucky Ajiroba.
The statement is titled, ‘Call on His Excellency President Bola Tinubu to re-visit the pipeline surveillance contract.’
The group faulted the last administration for awarding the contract to only one company, saying the purpose for which the contract was awarded was not achieved as the security situation of the pipelines was getting worse.
The statement read, “We are the members of Ondo State Niger Delta Coastal Vanguard. The group led by Akogun Job Omotuwa comprises ex-militants in the state who voluntarily submitted their arms and ammunition in response to the good gesture of the Federal Government of Nigeria under the amnesty programme in the year 2017, and we have shown our unwavering allegiance to the terms of the amnesty initiative of the government.
“The overall effects of all these are: it has increased considerably the quantum of oil production, it has substantially increased the revenue accruable to the Federation account, and ultimately it allows peaceful coexistence among the people of the oil-producing communities of the country.
“We are aware of the sterling enterprise of this administration to improve on the security architecture of the Nigeria state and all its apparatus, with a particular reference to the pipeline surveillance and secured waterways.
“The last administration made a giant stride by awarding the pipeline surveillance to a sole company in the Niger Delta Area. It is not out of place to state that the purpose upon which the contract was awarded for was not achieved as the situation of the security of the pipeline was worse than ever before since their collaborative effort was not enough to support the constituted military authorities.
“The failure of this was ascribed to the centralization of the contract. In view of this perennial failure, there has been avalanche of agitation from every quarter that the pipeline security contract should be decentralized for the purpose of achieving the desired goal of the Federal Government which is in the best interest of the entire citizens.”
The group, which commended the President for its efforts in repositioning the country’s economy, opined that each ex-militant leader in the Niger Delta Region be identified, and the pipeline security contract be split among them.

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Assembly Tasks Delta Govt On Rising Prostitution, Drug Abuse

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The Delta House of Assembly has passed a resolution urging the State Government to take drastic measures against rising cases of drug abuse and prostitution in the state.
This followed the adoption of a motion by Mrs Bridget Anyafulu (PDP-Oshimili South) at plenary in Asaba.
Presenting the motion, Anyafulu decried rising cases of open sex trade and use of illicit drugs among youths in the state, especially in Asaba and environs.
“Open sex trade and use of illicit drug is not a good example for our children.
“The situation is worrisome considering the fact that both issues are illegal,” she said.
Anyafulu, also the Chairman, House Committee on Women Affairs, Community and Social Development said that urgent measures must be taken to address the situation.
“The twin evil of drug abuse and sex trade represents great danger to the lives of our young people and the society at large.
“They both underline the physical, mental and social well-being of our young people and this will also jeopardize the development, peace and security of our dear state.
“So, I want to state that no nation survives without the youth, the youth and the young general are the life wire of our nation.
“Any nation that ignores the youth is heading for doom, so the importance of the young people cannot be over emphasized, it is therefore very important that we address this ugly trend,” she said.
Also speaking, Mr Oboro Preyor (PDP-Bomadi) decried the negative impact of rising drug abuse and prostitution, saying it must be addressed.
‘‘If this ugly trend is not addressed, it would attract more young people into their folks,’’ he said.
He also urged the government to rehabilitate youths who were addicted to drug and to create other avenues of engaging them in productive activities.
The motion was unanimously adopted by the lawmakers when put to voice vote by Speaker Dennis Guwor.
The lawmakers also called for support from law enforcement agencies to ensure the arrest and prosecution of illicit drug dealers and commercial sex workers in accordance with the law in order to curb the rising trend.

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