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Interpol Probes Two Nigerian Fintech Tycoons Over $221mTransfer

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Two Nigerian Fintech tycoons, Eghosasere Nehikhare and Bukunmi Olufemi Demuren and another Nigerian, are under probe in Kenya for suspicious transfer of $221million from Nigeria in local currency, the money is worth Kenya Sh25billion. Nehikhare is the founder of Boltpay, while Demuren is the founder of Multigate Limited.
Interpol and Kenya’s Assets Recovery Agency (ARA) are probing the suspicious transfers between October and November 2020.
Part of the money, about Sh5.6billion has been frozen in accounts of a local subsidiary of a Nigerian bank and Equity Bank.
According to Kenya’s Nation newspaper, the three Nigerians involved in what is suspected to be laundered money enjoy the backing of a powerful Kenyan politician.
Two Kenyans are also involved in the transfers which came to Kenya in dollars and euros.
Nehikhare is a graduate of the University of Oxford in the UK and is the CEO of Multigate Ltd.
Demuren earned a chemical engineering degree from Cooper Union University in the US.
He is the chairman of Multigate Ltd.
Mutligate and RemX are among companies registered in Kenya, Dubai and Nigeria and which are at the heart of the money transfers.
The money was wired through multiple companies registered locally with shared ownership and suspect addresses.
Kenya’s Assets Recovery Agency (ARA), has frozen the remaining funds of Sh5.6billion.
It was not aware of the full laundered funds, which Interpol is probing.
On April 5, ARA obtained court orders freezing Sh5.6billion in six bank accounts, but its investigators are unaware that the network of firms and individuals had moved another Sh20billion through local lenders in one month in 2020.
An ARA officer has confirmed that the agency was only aware of the Sh5.6billion frozen.
A network of six firms — OIT Africa, Avalon Offshore Logistics, RemX Capital Ltd, RemX Ltd, RemX Investment Partners and Multigate Ltd — moved Sh25.6billion from Nigeria to Kenya before wiring some of the funds to countries in Europe and Asia.
Despite confirming that ARA has yet to interrogate shareholders of the companies, the officer insisted that its investigations are ongoing and could see some of the suspects charged with money laundering and other economic crimes.
The source of the funds has puzzled local and international sleuths, who are trying to find the origin.
Interpol’s investigation has, however, hit a brick wall, as it would need to cooperate with Kenyan and Nigerian authorities to determine when, how and why Sh25.6billion was moved between the two countries.
The information sought by Interpol would require obtaining bank statements of all accounts where the suspect loot was stashed or moved from.
ARA’s lack of knowledge of the actual amount moved to Kenya in 2020 indicates that there is no cooperation with the agency and Interpol.
Investigators have so far frozen accounts of three firms — Avalon Offshore Logistics Limited, Oit Africa Limited and RemX Capital Limited.
They are the owners of the accounts deposited with the money.
Two bank accounts of Avalon Offshore Logistics Limited held at Equity Bank are holding $374,630 (Sh43,408,490) and €3,824.66 (Sh472,809), suspected to be proceeds of crime.
OIT Africa’s three bank accounts held at Equity and the Nigerian bank are holding a total of $41,715,444 (Sh4,833,568,496), while Remix’s account at the Nigerian bank is holding $6,648,838 (Sh770,400,859).
A search at the Registrar of Companies revealed that RemX Capital directors are John Kisilu Kamusina and Evalyne Wawira Gachoki.
Avalon Offshore directors are Nigerians Jeffrey Nnaoma Michaels and Uduma Okoro and Christopher Kalu.
OIT Africa directors are Vionnah Akoth Odongo and Kenneth Odongo Raminya.
Multigate Limited directors are Olubunmi Akinbanjo Akinyemiju, Nehikhare Eghosasere and Demuren Olufemi Olukunmi.

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2023: I’m Only PDP Presidential Aspirant To Defeat APC–Wike

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Rivers State Governor and leading presidential aspirant on the platform of the Peoples Democratic Party (PDP), Chief Nyesom Wike,has said that he remained the only PDP aspirant that could win election against the ruling All Progressives Congress (APC).
Wike, in company of some PDP chieftains, made this remark when he met national delegates of the Lagos chapter of PDP in Ikeja, last Saturday.
The aspirant, who noted that he was not running to be vice president to anybody, said that if elected, peace, security of lives and property would be prioritised to strengthen the nation’s sustainable infrastructure, food security, prosperity and economic turnaround.
He said the nation needed a strong and courageous leader like him now, adding that with a courageous leader, difficult decisions would be taken to tackle the nation’s challenges.
“The issue now is who can win election for PDP. Who has the capacity to face the APC? Who will win election for PDP? That is me here.
“I will face APC squarely. If you give me this ticket on May 28 and May 29, go home and sleep with your two eyes closed,” Wike said.
The governor said that PDP must do everything possible not to lose the 2023 presidential election.
“If we lose the presidential election in 2023, we can as well forget PDP.
“I have been tested in terms of performance. Mine is ‘talk and do’,” he added.
Wike, who promised to replicate his outstanding performance in Rivers State across Nigeria, said that he would provide a leadership every Nigerian would be proud of, home and abroad.
The aspirant pleaded with the Lagos delegates and leaders to be united and work for his emergence at the primaries.
“I know APC very well, allow me to face them. I am begging you, delegates, allow me. Support me to take the power from APC and bring back to PDP.
“I depend on the South-West, if the South-West gives me the votes, I have won the election. Donate all your votes to me,” he said.”
The PDP chieftain lamented that some party leaders aspiring to contest for PDP presidential ticket now, were the ones that threw the former ruling party into being opposition when they left the party in 2015.
Wike, who noted that he had been with PDP since 1998, said: “I will never leave this party. Whatever I am today, by the grace of God, God used PDP for me”.
He, however, said that he would never leave PDP even if he did not win the primaries, pledging to support whoever won.
The governor, who appealed to the Lagos PDP to end all infighting and division, said that if the party was not united, it would not win in the state.
In his remark, former Governor of Gombe State, Dr Ibrahim Dankwambo, who led Wike’s delegation, described the presidential aspirant as a fearless and courageous leader, with strong capacity to drive Nigeria forward.

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Army Bombs B’Haram Commander’s Convoy, Kills Scores, Destroys Gun Trucks

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Troops of the Nigerian Army under the auspices of Operation Hadin Kai have bombed a convoy of a Commander of Boko Haram in Sambisa forest, Abubakar Sarki, killing scores of terrorists who were with him.
Sources said the offensive was coordinated by the General Officer Commanding 7 Division, Nigerian Army and Commander Sector 1 North East Operation Hadin Kai (OPHK), Maj-Gen Waidi Shaibu on Saturday, May 14, 2022, at Yuwe location, within the Konduga Local Government Area of Borno State.
The Army was said to have deployed a massive artillery gun after sighting eight moving convoys conveying Abubakar Sarki and unconfirmed numbers of fighters in devastating hits.
The source said that based on intelligence information, Abubakar Sarki and his team were heading toward Abu-Ubaida’s camp to engage its rival fighters from the Islamic State of the West African Province (ISWAP), in a battle of supremacy.
Counter Intelligence expert with knowledge of terrorists activities in Lake Chad, Zagazola Makama confirmed the artillery bombing of the BH Commander’s convoy.
“A ground assessment confirmed that three guntrucks with all its occupants were completely destroyed, while the remaining five vehicles, including Abubakar Sarki escaped” the source said.
The source added that the terrorists, however, aborted the mission and evacuated the dead and wounded fighters towards the axis between Pulka and Banki.
The sources said that the troops were mandated to go after the fleeing terrorists and eliminate them completely.
The infighting between the two terrorists groups had intensified with the ISWAP hunting Boko Haram during the day time while the Boko Haram are coordinating reprisal attacks at night because of their knowledge of the terrain.

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NDDC Fund, Account For Alleged N700b, Inaugurate Board, Monarch Tasks FG

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Barely three days after some ministers resigned, including Minister of the Niger Delta Affairs, Sen. Godswill Akpabio, the Paramount Ruler of Idjerhe Kingdom of Delta State, King Obukowho Monday Whiskey, yesterday, called for urgent inauguration of the already screened and confirmed board of the Niger Delta Development Commission (NDDC) just as he called on the Federal Government to the over N700billion he alleged has been allocated to investigate the commission in the last three years.
He said these steps by the government would help resuscitate the agency and rekindle hope of the people whose regional resources, he alleged, were criminally plundered by the leadership of Federal Ministry of Niger Delta Affairs.
In a press statement personally issued by the monarch and made available to journalists in Benin City, Whiskey said, “Having voluntarily resigned as Minister of the Niger Delta Affairs, our beloved son, Obong Godswill Obot Akpabio, should come out clean to explain to fellow Niger Deltans the whereabouts of the three years running budgetary allocations of the NDDC which inside sources claimed were more than N700billion.
“For presiding over the ongoing illegality in NDDC, Akpabio is not fit to be president.
“The Federal Government and Akpabio, who held the region perpetually captive and denied her of her developmental agenda because of an inglorious forensic audit that never brought out anything should now explain to our people of our collective regional wealth.
“The father of the nation, Mr. President must have seen now that those he entrusted with the developmental agenda of the oil and gas bearing communities of Nigeria had their own nefarious intentions to swindle and cause more havoc and deny the people their collective dreams of development.
“It is instructive to note, Mr. President, that three options are still available to the Federal Government of Nigeria. The first being the immediate inauguration of the screened and confirmed board of the NDDC under the Chairmanship of Dr. Pius Egberavwe Odubu, and Olorogun Bernard Okumagba as managing director. Secondly, immediate dissolution of the illegally constituted sole administrator that is alien to the NDDC Act 2000, and thirdly, every of the allocation to the NDDC from 2019 to 2022 except for those used for staff salaries and sundry expenses, every other monies of the over N700billion be recovered from whoever were part of the Macabre dance of shame in the past four years.”
The traditional ruler stressed that the inauguration of the already screened and confirmed board would rekindle hope and restore the Federal Government’s integrity before Nigerians and the international community.

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