Accounts
Justice Onnoghen: How ex-President Obasanjo saved me from conspiracy by some judges
File Photo Former Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, has rated ex-President Olusegun Obasanjo as a better listener than President Muhammadu Buhari. Speaking in Abuja at the book launch of Ogwu Onoja, a Senior Advocate of Nigeria (SAN), the former CJN said Obasanjo did not act based on falsehood. Buhari had in 2019 removed Onnoghen — weeks to the presidential election — over alleged failure to declare his assets and operating foreign accounts. He was thereafter convicted by the Code of Conduct Tribunal (CCT) and barred from holding public office for 10 years. At the event, Onnoghen said he was removed from office without being given the chance to defend himself, adding that he was never confronted with the allegations against him. Onnoghen recounted how a similar incid...
Court refuses to unblock Shell’s bank accounts
Getty Images Justice Oluremi Oguntoyinbo of the Federal High Court in Lagos on Tuesday declined to vacate an interim injunction directing 20 banks to block Shell Petroleum Development Company of Nigeria (SPDC) and its subsidiaries’ bank accounts. The court also insisted that two of the banks’ secretaries and chief financial officers accused of disobeying the order made on January 25, 2021 must appear before it on March 29, 2021. The affected banks and their officials are: Citi Bank Ltd, its Company Secretary Sola Fagbure and Chief Financial Officer, Sharaf Mohammed; United Bank For Africa (UBA) Plc, its Company Secretary Bill Andrew Odum and Chief Financial Officer, Ebenezer Kolawole. The judge threatened to issue a warrant of arrest against them if they failed to appear before her on the ...
Okomu Oil Palm wants central bank to review anchor borrowers programme
Okomu Oil Palm Company Plc. wants a review of CBN’s Anchor Borrowers Programme (ABP) to accommodate more farmers and to shore up the nation’s foreign earnings from agriculture. The ABP is targeted at smallholder farmers engaged in the production of rice, maize, wheat and cash crops like oil palm, cocoa and rubber, among others. Speaking with newsmen on Monday in Benin, Okomu Oil’s Managing Director, Dr Graham Hefer, noted that cash crop farmers were yet to fully benefit from the programme. He said food crop farmers had an edge because they could cultivate, harvest, sell and repay their loans within the specified one year period. “It is easy for farmers engaged in annual crops to meet their targets. “This doesn’t happen with cash crops because in the first three years of oil palm production...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
How ICPC is combating corruption in MDAs, stopped diversion of N189 billion personnel cost
File Photo In the past few years, the Independent Corrupt Practices and Other-Related Offences Commission, as part of its statutory mandate, has been conducting systems study and review of ministries and organisations in the federal public service. The overall objective of a system review is reform of the systems and procedures of public agencies with a view to identifying and eliminating, preventing, blocking and obstructing opportunities for corruption. To achieve this, the exercise targets detecting areas of vulnerabilities, actual weaknesses, leakages and corruption risks and to recommend ways of strengthening these systems and removing the discretionary gaps and such opportunities for both individual and institutional malfeasance on public resources. In addition, the review also targe...
WTO: We need to build capacity for international competitiveness – LCCI
Lagos Chamber of Commerce & Industry The Lagos Chamber of Commerce and Industry (LCCI) has posited that for Nigeria to take advantage of opportunities offered by the World Trade Organisation (WTO) under the leadership of Dr. Ngozi Okonjo-Iweala, it was important to build capacity for international competitiveness of our products and services. The Chamber also emphasised the need to address trade facilitation issues, especially around port processes, ports infrastructures, international trade documentation, foreign exchange policies, trade policies and industrial policies. The Director General of the chamber, Muda Yusuf, made the disclosure following the appointment of Okonjo-Iweala as the DG of the WTO, saying her emergence comes at a time when the global trading system is faced with n...
Archbishop Sam Zuga: CBN lacks power to stop cryptocurrency
Archbishop Sam Zuga has reacted to the Central Bank of Nigeria’s (CBN) new order on Cryptocurrency. The Apex bank had directed Deposit Money Banks (DMBs) and other financial institutions to close accounts of persons who are using their systems for cryptocurrency trading. Reacting to the shocking news, Archbishop Sam Zuga, the CEO of one of Africa’s fastest growing currency, Zugacoin expressed his disappointments at the CBN’s decision, while allaying the fears of Zugacoin investors and intending buyers. According to the Cleric’s message obtained from his social media page, “Cryptocurrency doesn’t need bank account to operate or exist.” He wrote, ”RICH PEOPLE WANT THE POOR TO REMAIN POOR. NOT AGAIN! This is is not news. It has been like this since the beginning of Cryptocurrency. But right n...
Court orders final forfeiture of ex-Zamfara governor’s money in Zenith, Polaris banks
The Federal High Court, Abuja, on Tuesday, ordered the final forfeiture of former Governor of Zamfara, Abdulaziz Yari’s funds domiciled in Zenith and Polaris Banks. While 56, 056.75 dollars was lodged in Polaris Bank account, the sums of N12.9 million, N11.2 million, 301, 319.99 dollars; N217, 388.04 and 311, 872.15 dollars were kept in different Zenith Bank accounts in the name of Yari and his companies. Justice Ijeoma Ojukwu, in a judgment, held that the former governor had not shown good cause why the order sought by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) should not be granted. Yari served as governor of Zamfara between May 2011 and May 2019. The ICPC had instituted a suit, praying the court for the former governor to show cause why the money unde...
Twitter suspends ‘fake’ account that carried a link to Iranian Supreme Leader’s website
Twitter said on Friday it had suspended what it said was a fake account that carried a link to the website of Iran’s Supreme Leader on Friday, hours after it carried the image of a golfer resembling former U.S. President Donald Trump apparently being targeted by a drone. The post, on a Persian-language account carrying a link to Ayatollah Ali Khamenei’s website, had carried the text of remarks by him in December in which he said “Revenge is certain” – referring to the killing of a top Iranian general in a U.S. drone attack. A Twitter spokeswoman said the @khamenei_site account was suspended for violating the company’s platform manipulation and spam policy, specifically the creation of fake accounts. Asked if the @khamenei_site account was fake, she said it was. The golfer image tweet was r...
U.S. Senate Republican asks tech firms to explain account, content removals
The outgoing Republican chairman of the Senate Commerce Committee asked the chief executives of major U.S. tech firms Apple Inc, Facebook Inc, Amazon.com Inc, Alphabet Inc and Twitter to answer detailed questions about decisions to restrict or permanently ban accounts of conservative users and other steps to restrict content or platforms. Senator Roger Wicker said “thousands of conservative users’ accounts and content” have been “restricted or permanently removed from platforms.” He also cited a series of decisions causing social media site Parler to shut down operations temporarily. “Americans deserve transparency and accountability for what appears to be politically biased censorship – silencing the voices of users and public figures alike,” Wicker wrote. Get more stories like this on Tw...
Egypt court acquits TikTok stars jailed over ‘debauchery’
An Egyptian appeals court has acquitted two young women imprisoned for “attacking society’s values” over videos they published on TikTok. The women had been sentenced to two years in prison last July for “breaching public morals”. “The court of appeal accepted the appeal filed by Haneen Hossam and Mawada al-Adham against their imprisonment … on charges of incitement to debauchery and attacking society’s values,” a court official said on Tuesday, asking not to be named. Hossam, 20, was acquitted after being jailed for encouraging women among her 1.3 million subscribers to broadcast videos in exchange for money, while al-Adham’s two-year sentence for publishing indecent photos and videos was cancelled. Hossam’s lawyer Hussein El Bakar told Thomson Reuters Foundation that her client, a studen...
#EndSARS: Lagos hires forensic team to investigate Lekki toll gate shooting
The Lagos State government has hired a team to conduct an independent forensic examination of the Lekki toll gate. Nigerian soldiers attacked peaceful #EndSARS protesters at the toll gate on October 20, 2020 after weeks of demonstrations against police brutality. Soldiers fired on the protesters after the declaration of a curfew, leading to a yet-to-be-determined number of fatalities disputed by the government. A judicial panel of inquiry investigating the incident revealed during a sitting on Tuesday, January 5, 2021 that the Lagos government has paid a forensic team to aid the investigation. Chairperson of the panel, Justice Doris Okuwobi, announced this after the Lekki Concession Company (LCC) repeated a request that it be allowed to retake control of the toll gate which was vandalised ...
