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EFCC Re-arrest Fani-Kayode in Court

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Fani-Kayode
  • EFCC Re-arrest Fani-Kayode in Court

The Economic and Financial Crimes Commission (EFCC) on Friday re-arrested Chief Femi Fani-Kayode, after he emerged from trial before a Federal High Court in Lagos.

Fani-Kayode, who is former Director of Media and Publicity, campaign committee of ex-President Goodluck Jonathan, is charged alongside a former Minister of Finance, Nenandi Usman and Danjuma Yusuf.

Also charged with them is a company, Joint Trust Dimension Nigeria Ltd.

They were arraigned on a 17-count charge bordering on unlawful retention, unlawful use and unlawful payment of money to the tune of about N4.9 billion.

They each pleaded not guilty to the charge and were granted bail.

On Friday, after the Prosecutor, Mr Rotimi Oyedepo, opened the case and had wrapped up the witness’ evidence for the day, the court adjourned the case to Nov. 14 and Nov. 15 for continuation of trial and rose.

However, shortly after the accused left the courtroom, two officers of the EFCC dressed in white Kaftans, flanked his sides and requested that he followed them to the commission.

Immediately, the court’s gate was barricaded by a Toyota Hiace bus and Fani-Kayode was arrested and taken away by the EFCC.

Meanwhile, when the case was mentioned on Friday, Oyedepo had opened the case for the prosecution and called his first witness, a Media Consultant, Mr Idowu Olusegun.

Leading him in evidence, the witness, a media Consultant for Paste Posters Company Ltd., told the court that N30 million was paid in cash to him.

Olusegun said that the money was paid by the office of the Director of Media and Publicity, PDP Campaign Organisation.

According to him, he had reached an agreement with the organisation whose office is situate at 14B, Samora Micheal Avenue, Asokoro FCT, for the sum of N24 million for media consultancy services.

He said that a further negotiation was reached in which N50 would be paid for each size of A2 posters, while N20 would be paid for each size of A4 flyers.

Olusegun told the court that after the printing job for the posters and flyers was done, he was invited to the office of the organisation and given N30 million in cash.

He told the court that he had demanded to know why payments was made in cash and was informed by one Mr Oke, that cash was the approved means of payment.

He said that Oke had been the person communicating with him throughout the pendency of his engagement to do the media jobs.

The witness also told the court that apart from the N30 million paid to him, there is also an outstanding payment of N24 million which was not paid to his company.

After his testimony, and based on agreements of counsels, the court fixed Nov. 14 and 15 for continuation of trial.

Meanwhile, a mild drama unfolded in the court during trial when the trial judge, Justice Sule Hassan, ordered the seizure of the mobile phone of Fani-Kayode.

The accused had held his phones and suddenly, the phone rang out loud and the judge asked: “Who is doing that?’’

He spontaneously, ordered the court’s registrar to seize the phone.

Similarly, the trial judge also issued a warning to counsel representing the accused when he sighted him sipping bottle water during proceedings.

The judge warned the counsel to seek the permission of the court, whenever his client was pressed to drink water.

According to Hassan, the court is not a market place; there must be order and sanity.

In the charge, the accused were alleged to have committed the offences between January and March 2015.

In counts one to seven, they were alleged to have unlawfully retained over N3.8 billion which they reasonably ought to have known formed part of the proceeds of an unlawful act of stealing and corruption.

In counts eight to 14, the accused were alleged to have unlawfully used over N970 million which they reasonably ought to have known formed part of an unlawful act of corruption.

Meanwhile in counts 15 to17, Fani-Kayode and Olubode Oke, who is said to be at large, were alleged to have made cash payments of about N30 million in excess of the amount allowed by law without going through a financial institution.

Besides, Fani-Kayode was alleged to have made payments to Paste Poster Co (PPC) of No 125, Lewis St., Lagos, in excess of amounts allowed by law.

All offences were said to have contravened the provisions of sections 15 (3) (4), 16 (2) (b) and 16 (5) of the Money Laundering (Prohibition) (Amendment) Act. 2012.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Netanyahu Stands Firm as US Halts Bomb Shipment Over Rafah Invasion Warning

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Amidst escalating tensions between Israel and the United States, Israeli Prime Minister Benjamin Netanyahu has adopted a defiant stance following the US decision to halt a shipment of bombs and warned against Israel’s potential invasion of the southern Gaza city of Rafah.

In a bold statement, Netanyahu declared, “If we have to stand alone, we will stand alone,” emphasizing Israel’s resolve to pursue its objectives despite opposition.

The Prime Minister’s comments, delivered via social media and a subsequent interview with American talk show host Dr. Phil, underscore Israel’s determination to address security threats posed by the Gaza Strip, particularly by Hamas militants operating in Rafah.

Netanyahu reiterated the necessity of military action in Rafah to eliminate the remaining Hamas battalions, condemned Hamas’s history of violence and reiterated Israel’s commitment to achieving victory and ensuring the safety of its citizens.

The US administration, led by President Joe Biden, expressed concerns over the potential humanitarian impact of an Israeli invasion of Rafah, prompting the decision to withhold additional offensive weapons shipments to Israel.

Biden’s statement echoed broader international apprehensions about the escalation of violence and civilian casualties in the conflict-stricken region.

However, Netanyahu remained resolute in Israel’s approach, asserting the country’s right to defend itself against security threats. He emphasized Israel’s efforts to minimize civilian casualties and facilitate the evacuation of civilians from Rafah before any military action.

Despite the US’s decision to pause the bomb shipment, Netanyahu affirmed Israel’s commitment to its longstanding alliance with the US. He acknowledged past disagreements between the two nations but expressed optimism about resolving current tensions through dialogue and cooperation.

In response, White House officials reiterated the US’s support for Israel’s security while urging restraint and emphasizing the need to avoid actions that could exacerbate the humanitarian crisis in Gaza.

The administration clarified that the decision to halt the bomb shipment was aimed at preventing potential civilian casualties in Rafah.

The confrontation between Israel and the US underscores the complexity of navigating regional conflicts and balancing strategic interests. As tensions persist, both nations face the challenge of reconciling their respective security imperatives with broader humanitarian concerns, seeking to avert further escalation while addressing the root causes of the conflict in the Middle East.

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EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

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Yahaya Bello

The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

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Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

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NIMC enrolment

Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

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