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Akingbola To Forfeit N626bn, 8 Houses, Others – EFCC
The Mareva order granted against the wanted former Group Managing Director of Intercontinental Bank Plc, Mr. Erastus Akingbola, would see him forfeiting, temporarily, to the Federal Government, about N626 billion, eight houses, nine companies and 12 bank accounts.
This is even as the Economic and Financial Crimes Commission (EFCC) again sealed off his property at 2, Bedwell Road Ikoyi, Lagos on Wednesday.
Commission’s spokesperson, Mr. Femi Babafemi, confirmed the sealing off of the property.
The Mareva order issued by a London court and a federal high court sitting in Lagos covered all his properties worldwide.
All the items listed by the commission were covered by the order.
His property at 12, Ruxcon Road, Ikoyi, Lagos was sealed off on Tuesday which signaled the commencement of the execution of the Mareva order.
In the Mareva sum contained in the order, N346 billion was listed in local currency while 1,085,575 British pounds was also listed as alleged proceeds of crime.
The order restrained Akingbola and members of his family from coming in contact with the said property until it is lifted.
In the schedule 11 of the order, assets listed included, property at Milverton Road, Ikoyi, 26, Chester Terrace London, 8 Connaugh Street, London, 65 Gove-End Road, London, Amazing Grace Plaza, Ligali Ayorinde Street, Victoria Island among others.
Companies listed in the order included Tropics Securities, Tropics Property, Tropics Holdings, Summit Finance Company, Tropics Finance and Investment Company, Yankuri Nigeria Ltd, Regal Investment, Bankinson Nigerian Ltd and Associated Discount House Ltd among others.
Some of the bank accounts included accounts with numbers 0001200000029420, 0001210000005334, 0111-001-000352735 and 0111-001000- 352745 domiciled with Intercontinental Bank.
Fifteen cars and five dogs were found on the property sealed off on Tuesday.
In the property listed in his name in the court order, he is said to own 10 properties in Ikoyi ansd Victoria Island, Lagos alone.
The commission’s guards now watch over the seized property.
It was also gathered that the commission’s chairman, Mrs Farida Waziri had written to all banks where Akingbola has accounts for the transfer of same to the government.
Other banks where he has accounts included Access Bank, Zenith Bank, Skye Bank, Fidelity Bank and Intercontinental U.K.
Security agencies abroad where Akingbola has properties and bank accounts, had also been contacted for the same measure of treatment for the former banker.
While the Lagos order was granted on the last day of 2009, the London court had granted its, on 23rd December, 2009.
Some of the assets to also be frozen were Nos 17, 18, 19, 20 on Finchey Road, London as well as the property located at 26, Chesire Terrace, London.
Properties said to have been owned by him in Accra, Ghana and Dubai, United Arab Emirates, were also listed for forfeiture.
The Group Managing Director/Chief Executive Officer, Oceanic Bank, Mr. John Aboh, has said the bank concluded staff rationalisation exercise December last year, stressing that it has no plan to sack any of his workers in the new year.
Speaking against the backdrop of insinuations that the bank had carried out fresh disengagement of staff, Aboh explained that it was unfounded and a premeditated attempt by people to derail the consistent progress being recorded by the bank.
According to him, last year rationalisation was to drive operational efficiency in the organisation, noting that it had become imperative to alert customers and shareholders on true situation.
“I urge our esteemed customers, shareholders, and the entire banking public to disregard such reports. Oceanic Bank is making steady progress with its recovery efforts and the trends before us show promising prospects and enhanced value creation for all stakeholders.”
The Oceanic Bank boss explained that prior to the bank’s staff rationalisation exercise, the bank was expending over N4 billion monthly on salaries and wages to a workforce of over 20,000 people.
“We had to implement the painful process of staff rationlisation to streamline the workforce along the line of the current business realities otherwise we will be deploying depositors’ funds to sustain the bloated workforce. The vision we have is to grow the business to ensure consistent value creation for our customers and shareholders.”
News
Rivers NIPR Gets New Executive

The Nigerian Institute of Public Relations (NIPR), Rivers State Chapter, has inaugurated a new Executive Council to pilot the affairs of the institute for the next two years.
The new Executive Council was elected during the maiden edition of the Rivers Public Relations Week and Annual General meeting held last Friday, in Port Harcourt.
The re-election marked a historic moment as members of the chapter converged to chart a new course for professional excellence, ethical standards, and the advancement of public relations practice in the State.
This was contained in a statement signed by the Public Relations Officer of the institute, Ayodeji Emmanuel Afelumo, at the weekend.
The Registrar and Secretary to the NIPR Governing Council, Chief Uzoma Onyegbadue, who swore in the officers charged them to redouble their efforts in upholding professional integrity and excellence in public relations practices.
The officers re-elected for the second term include Rev. Francis Asuk as chairman, Dr. Parry Saroh Benson (Vice Chairman), Mr. Felix Tamuno (Secretary), Alhaja Ayo Odungweru (Treasurer), and Edna Alete as Financial Secretary.
Those with fresh tenure are Dr. Helen Chimezie who was elected as the Assistant Secretary, Mr. Ayodeji Emmanuel Afelumo (Public Relations Officer), and Mrs. Ngowari Oba as Welfare Officer, following the tenure expiration of the former officers.
In his acceptance remarks, Rev. Asuk expressed gratitude to members for their confidence and pledged to uphold the ideals of the institute, promote professional development, and foster partnerships that would further enhance the visibility of public relations in Rivers State and beyond.
The Rivers Public Relations Week is the first of its kind organised by a State chapter of the institute and it provided a platform for practitioners, scholars, and stakeholders to engage in knowledge-sharing, networking, and discussions on the evolving role of public relations in governance, business, and society.
The statement added that the Rivers State Chapter of the NIPR looks forward to a new era of purposeful leadership, innovation, and impact under the stewardship of its newly inaugurated executive council.
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Falana Gives Ken Saro-Wiwa, Others Clean Bill Of Health …As Activist Decries Marginalisation Of Ogoni People p6 lead

Human rights lawyer, Femi Falana(SAN) has apparently exonerated the slain writer and environmental rights activist, Mr Ken Saro-Wiwa and his eight Ogoni kinsmen of the murder charge which led to their execution by hanging by the Gen Sani Abacha military junta on November 10, 1995.
This is even as a human rights activist, Evangelist Caroline Nagbo, has decried the spate of marginalisation against Ogoni people in Nigeria and Rivers State, saying, in spite of the struggles, sacrifices and contributions of the Ogoni people, they have continued to be marginalised, particularly in politics.
Falana, who bared his mind in a keynote address during the 30th Anniversary of the Ken Saro-Wiwa Memorial Lecture at Hotel Presidential, Port Harcourt on Friday, said the Ogoni nine never committed the crime for which they were hanged by the Federal Government.
On her part, Nagbo noted in a goodwill message at the event that despite the Ogoni people’s contributions, struggles and sacrifices, they continue to face exclusion and intimidation.
She decried a situation where people who hated Ken Saro-Wiwa during his lifetime, equally hate Ogoni people, because they consider them as very intelligent, stressing that instead of giving them political power, stooges are rather favoured.
According to her, Ogoni people must continue to speak out and agitate for their rights.
Nagbo further noted that the name of Ken Saro-Wiwa always evokes environment, minority and politics, emphasising that the legacies of the late environmental rights activist have continued to inspire and motivate the Ogoni people, and highlighted the significance of his birthday, which coincides with the Ogoni struggle for self-determination, environmental justice, and human rights.
She said the Federal Government’s treatment of Ken Saro-Wiwa’s memory and the Ogoni people is a reflection of the country’s flawed political system, and criticised politicians for their absence at events commemorating Ken Saro-Wiwa’s birthday and even illegal execution, attributing it to the marginalisation and intimidation faced by the Ogoni people.
“If you identify with Ken Saro-Wiwa and the Ogoni struggle, you are the enemy of the state, and that is marginalisation and intimidation,” she said.
Nagbo further lamented that despite the Ogoni people’s contributions to the country’s struggle for democracy, they are yet to be adequately rewarded.
“Politically, up till now, an Ogoni individual has never been a Governor, and they are not ready to give it to us, even in the next 30 years.The same thing they did to Ken Saro-Wiwa is the same thing they are doing to the Ogoni sons and daughters. They are manipulating it,” she said.
Nagbo praised the consistency of fiery human rights lawyer, Femi Falana(SAN), in championing the cause of the Ogoni people, saying, even Ken Saro-Wiwa was known for his consistency.
The keynote speaker, Mr Femi Falana actually chronicled the circumstances surrounding the hanging of Ken Saro-Wiwa and eight of his kinsmen on November 10, 1995, saying, they never committed the offence for which they were executed, and,therefore, deserve not only the recent pardon granted to them by the Federal Government but also exoneration and apology from the government.
Falana accused the state and Shell of masterminding the murder of four Ogoni sons, with the intent of roping in Ken Saro-Wiwa and the other Ogoni activists, saying, the execution of the Ogoni activists was premeditated.
According to him, when it was clear that the then Abacha military junta had already made up its mind to kill Ken Saro-Wiwa and others, the legal team defending them had no option than to withdraw from the trial in order not to give it legitimacy.
The human rights lawyer said the Ogoni people must be united today more than ever before to fight for their rights, stressing that the move for resumption of oil production in Ogoniland can only be justified when the ongoing cleanup of Ogoniland has attained an appreciable level.
He also applauded the siting of the Federal University of Environment and Technology in Ogoniland, but insisted that the university must employ Ogoni people to justify its establishment.
Falana said the time has come for the people of the Niger Delta region to demand accountability from the political class at all levels of governance in the region, saying, they are constitutionally empowered to find out how the 13 percent derivation funds and other funds are utilised.
According to him, the three percent fund stipulated and specified in the Petroleum Industry Act(PIA) is supposed to go directly to oil and gas bearing communities in the Niger Delta.
He also sympathised with Umuechem people for what befell them during the military regime, and decried a situation where oil companies failed in providing social amenities to the people, in spite of benefiting from the oil and gas deposits in their land.
He promised to set up a think tank of lawyers to advocate and ensure that oil and gas host communities in the country, particularly in the Niger Delta are provided social amenities.
Also, human rights and environment campaigner and one of the organisers of the event, Mr Celestine Akpobari thanked Femi Falana, Dr Nimo Bassey and other dignitaries and participants for gracing the event, which he described as the celebration of Ken Saro-Wiwa’s legacies.
He said the rush for the resumption of oil exploration in Ogoniland does not make any economic sense, and likened it to mopping the floor while the taps are open.
At the event, the panel of discussants consisted of Prof KialeeNyiayana of the University of Port Harcourt; Prof Lucky Akaruese of the University of Port Harcourt; Eze(Prof) Christian Akani of the Ignatius Ajuru University of Education; and Leader of Ogoni People’s Assembly, Rev Probel Williams, while the moderator was Dr EmemOkon.
The discussants gave a good account of themselves, as they did not only dissect the keynote address presented by Femi Falana, giving more insights into it, but also did justice to the questions posed to them by the moderator, bordering on Ken Saro-Wiwa and his legacies, among other issues.
By: Donatus
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Unveiling of $400million Otakaikpo crude oil Export Terminal; Monarch Hails Tinubu …lists Economic Benefits Of The Project

The monarch however decried inconsistent payment of the statutory 3 percent opex by the JV and expressed the hope that priority will be placed on the payment of the outstanding 3 percent for 2024 to the community HCDT.King Ikuru also urged the company to instruct the JV to provide electricity to the host community and stressed the need for Ikuru to be connected to the energy source as Otakaikpo marginal oil field.
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