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Delta May Lose Out on $250m Ibori Loot

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  • Delta May Lose Out on $250m Ibori Loot

The Delta State Government may not get anything from the about $250m worth of assets and money which the United Kingdom claims a former governor, Chief James Ibori, stole from the state.

Ibori is currently facing a confiscation hearing which may lead to the permanent forfeiture of all his assets purchased with the proceeds of crime.

The British Government had accused Ibori of stealing about $250m from the Delta State Government part of which was used in buying six houses and luxury vehicles in the UK, the United States and South Africa.

Already the Delta State Government has permanently forfeited $15m of the Ibori loot to the Federal Government for failing to cooperate with the Economic and Financial Crimes Commission to bring Ibori to justice. The state government had even challenged the EFCC’s right to probe Ibori in 2008, insisting that Ibori never stole.

While giving his ruling on the case of the EFCC vs the Delta State Government regarding the ownership of the $15m which Ibori allegedly used in bribing a former Chairman of the EFCC, Mallam Nuhu Ribadu, Justice Gabriel Kolawole had accused the state government of protecting Ibori.

The judge ruled that money recovered from Ibori must be paid into the Federation Account and not the Delta State coffers.

The judge said, “With utmost sense of responsibility as a judicial officer, I view the stiff resistance mounted by the Delta State Government and its official as one which borders on the state’s acquiesce in the looting of its own fund or at best, as that of collaborators with its erstwhile governor on the issue of $15m allegedly offered to former EFCC chairman, Nuhu Ribadu as bribe.”

According to AFP news agency, before Ibori returns to Nigeria, he must face a deportation hearing and then also pay £18m to the UK government as the “proceeds of crime.”

Sources within the EFCC told our correspondent that Delta State had done nothing to assist in the investigation and prosecution of Ibori and should thus not be entitled to any money.

A senior detective told our correspondent that the body language of the Governor Ifeanyi Okowa-led government suggested that the state government was still in support of Ibori.

A source at the EFCC said, “The state government has not shown any seriousness in helping to recover Ibori’s loot. Back in 2009, the state government did everything possible to frustrate the Federal Government’s efforts and even went to court to challenge the EFCC. They claimed Ibori never stole.

“Much has not changed today because the state government last week issued a statement celebrating the release of Ibori. The Attorney General of the state, Mr. Peter Mrakpor, celebrated Ibori’s release and even called on the Federal Government to pardon him.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Government

University Of Ibadan (UI) Goes Digital, Releases Timetable for Virtual Academic Session

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University Of Ibadan (UI) Goes Digital, Releases Timetable for Virtual Academic Session

University of Ibadan (UI) on Friday announced it is going ahead with resumption on February 20 despite the second wave of COVID-19.

In a statement released by the school, the First Semester of the 2020/2021 academic session will commence virtually on February 20, 2021.

The virtual academic session will last for 13 straight weeks and end on Friday May 12, 2021, while the matriculation ceremony will hold on Tuesday March 16, 2021.

The University of Ibadan also scheduled one week for the Finalization of Continuous Assessment, to begin from Mon. 17 May and ends Friday 21 May.

The rising number of COVID-19 cases has compelled the Senate to approve the virtual academic session in an effort to ensure the tertiary institution abides by the protocols established by the Federal Government to curb the spread of the pandemic.

“It, therefore, agreed that the 2020/2021 First Semester lectures will be delivered online. In this regard, students will not be accommodated on campus,” a statement from the school said.

“Senate also approved the cancellation of the 2019/2020 session. The next session is, therefore, renamed 2020/2021 Academic Session. Consequently, students who have been admitted for the 2019/2020 session will now be regarded as the 2020/2021 intakes.

“Kindly note that online opening of Registration Portal and Orientation Programme for the 2020/2021 intakes may commence ahead of the Sat 20/02/21 date indicated above,” the statement said.

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House of Representatives Impeached Trump Over Capitol Invasion

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House of Representatives Impeached Trump Over Capitol Invasion

The United States House of Representatives on Wednesday impeached President Trump for the second time after instigating the US Capitol invasion.

Led by Speaker of the House, Nancy Pelosi, 232 representatives, including 10 Republicans, voted to impeach the outgoing president against 197 that voted for him to remain in the office for the next six days when he would handover to the president-elect, Joe Biden.

The ten Republicans were Representatives Liz Cheney of Wyoming, the party’s No. 3 leader in the House; Jaime Herrera Beutler of Washington; John Katko of New York; Adam Kinzinger of Illinois; Fred Upton of Michigan; Dan Newhouse of Washington; Peter Meijer of Michigan; Anthony Gonzalez of Ohio; David Valadao of California; and Tom Rice of South Carolina.

Speaking before the vote, Pelosi said “a constitutional remedy that will ensure that the Republic will be safe from this man who is so resolutely determined to tear down the things that we hold dear and that hold us together.”

“He must go. He is a clear and present danger to the nation that we all love,” she said, adding later, “It gives me no pleasure to say this — it breaks my heart.

Republicans, who unanimously stood behind president Trump in 2019 during his first impeachment, were divided this time over the attack on Capitol.

A Republican representative from California, Kevin McCarthy, said “The president bears responsibility for Wednesday’s attack on Congress by mob rioters,” Mr. McCarthy said. “He should have immediately denounced the mob when he saw what was unfolding.”

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US Congress Declares Joe Biden as The 46th President of The United States After Trump Mob Left

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Joe Biden Economic Impliccations on Nigeria

US Congress Declares Joe Biden as The 46th President of The United States After Trump Mob Left

The joint congress of the United States on Thursday, January 7, 2021 certified Joe Biden as the 46th President of the United States following President Trump’s mob action that disrupted the congress joint proceeding on Wednesday.

After ordering his followers to disrupt proceedings on Wednesday, President Trump later announced that there will be an orderly transition on January 20.

Even though I totally disagree with the outcome of the election, and the facts bear me out, nevertheless there will be an orderly transition on January 20th,” Trump said in a statement issued by White House Deputy Chief of Staff Dan Scavino.

“I have always said we would continue our fight to ensure that only legal votes were counted. While this represents the end of the greatest first term in presidential history, it’s only the beginning of our fight to Make America Great Again!” Trump added.

While the certification was just a mere formality as Biden had secured enough electoral college votes (270) required to clinch the world’s most powerful seat, the refusal of Donald Trump to accept the results of the November 2020 election made the session a keenly watched, especially after Trump mob disrupted a joint session of the Senate.

Also read Facebook, Twitter, Instagram Lock President Trump Out of Their Platforms Following Insurrection

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