Connect with us

Government

Ex-FCT Minister, Son to Forfeit 10 Properties to FG

Published

on

House for auction
  • Ex-FCT Minister, Son to Forfeit 10 Properties to FG

Two high courts in Abuja have ordered that the immediate past Minister of the Federal Capital Territory, Senator Bala Mohammed, and his son, Shamsudeen, temporarily forfeit 10 properties to the Federal Government.

The courts also barred the suspects from selling anything found in the properties, including luxury cars, jewelleries and other valuables.

The seizure of some of the properties traced to the ex-minister was pursuant to an interim forfeiture order by Justice Okon Abang of the Federal High Court, Abuja.

Justice Abang ordered the temporary forfeiture of the properties “to the Federal Government pending the conclusion of investigation and determination of criminal charges against the suspects.”

He added, “The court also gives the commission power to appoint competent persons/firm to manage the assets/properties listed.”

The remaining properties were confiscated on the strength of the order by Justice Gabriel Kolawole of the Federal High Court, Abuja, which ordered that the assets be “forfeited to the Federal Government pending the conclusion of investigation and determination of the criminal charges against the suspects.”

Justice Kolawole stated, “The court also forbids any disposal, conveyance, mortgage, lease, sale or alienation or otherwise of the property/assets.”

The properties include three plots of land with development at various stages of completion at No 54 Mike Akhigbe Way, Jabi, Abuja; Plot 2276 Sunrise Estate, Asokoro, Abuja, and Plot 1804 Damaturu Crescent, off Ahmadu Bello Way, Garki 11, Abuja.

Two other properties, belonging to the ex-minister, which were also seized by the Economic and Financial Crimes Commission, are located at No. 1 and 3 Marian Street, Asokoro, Abuja, and a twin plaza at Wuse Zone 3 by Tamarak Guest Inn, Abuja.

Five other properties, belonging to the ex-minister’s son were also seized.

The properties are at 7 Gana Street, Maitam, Abuja; an estate and plaza at Dawaki, opposite Gwarinpa, Abuja; an estate at Jahi District, Abuja; three duplexes at Abuja Investment Company Limited Estate, Abuja, and a shop at Dubai Market, Kaura District, Abuja.

The EFCC had, on February 1, 2016, arraigned Shamsudeen for alleged fraud to the tune of N1,105,719,005.

The EFCC also slammed 15 charges on the ex-minister’s son and four other companies.

The EFCC accused the minister’s son of carrying out business transactions worth billions of naira in cash, which is in violation of the Money Laundering Act.

Specifically, Shamsudeen was accused of buying all the aforementioned properties in cash.

One of the charges read in part, “That you, Shamsudeen Bala (alias Shamsudeen Mohammed Bala), Bird Trust Agro Allied Limited and Intertrans Global Logistics Limited, sometime in 2015 in Abuja, within the jurisdiction of this honourable court, did, without going through a financial institution, make cash payment of N200,000,000 to A&K Constructions Limited , Abuja, and Sunrise Estate Development Limited for Construction of a house on Plot Nos 2116 and 2276 at Asokoro Gardens (alias Sunrise Estate), Abuja, which exceeded the statutory limit and thereby committed an offence contrary to Section 1 of the Money Laundering (Prohibition) Act, 2011 as amended in 2012 and punishable under Section 16 (2)(b) and (4) of the same Act.”

Meanwhile, the EFCC may soon arraign the former minister before an FCT High Court.

Bala is also under investigation by the House of Representatives Committee on the FCT for an alleged scam in the controversial Centenary City project.

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.

Continue Reading
Comments

Government

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

Published

on

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.

Continue Reading

Government

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

Published

on

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.

Continue Reading

Government

Israeli President Declares Iran’s Actions a ‘Declaration of War’

Published

on

Israel Gaza

Israeli President Isaac Herzog has characterized the recent series of attacks from Iran as nothing short of a “declaration of war” against the State of Israel.

This proclamation comes amidst escalating tensions between the two nations, with Iran’s aggressive actions prompting serious concerns within Israel and the international community.

The sequence of events leading to Herzog’s grave assessment began with a barrage of 300 ballistic missiles and drones launched by Iran towards Israel over the weekend.

While the Israeli defense forces managed to intercept a significant portion of these projectiles, the sheer scale of the assault sent shockwaves through the region.

President Herzog’s assertion of war was underscored by Israel’s careful consideration of its response options and ongoing discussions with its global partners.

The gravity of the situation prompted the convening of the G7, where member nations reaffirmed their commitment to Israel’s security, recognizing the severity of Iran’s actions.

However, the United States, a key ally of Israel, took a nuanced stance. President Joe Biden conveyed to Israeli Prime Minister Benjamin Netanyahu that, given the limited casualties and damage resulting from the attacks, the US would not support retaliatory strikes against Iran.

This position, though strategic, reflects a delicate balancing act in maintaining stability in the volatile Middle East region.

Meanwhile, Russian Foreign Minister Sergei Lavrov and his Iranian counterpart Hossein Amir-Abdollahian cautioned against further escalation, emphasizing the potential for heightened tensions and provocative acts to exacerbate the situation.

In response to the escalating crisis, the Nigerian government issued a call for restraint, urging both Iran and Israel to prioritize peaceful resolution and diplomatic efforts to ease tensions.

This appeal reflects the broader international consensus on the need to prevent further escalation and mitigate the risk of a wider conflict in the Middle East.

As Israel grapples with the implications of Iran’s aggressive actions and weighs its response options, President Herzog reiterated Israel’s commitment to peace while emphasizing the need to defend its people.

Despite calls for restraint from global allies, Israel remains vigilant in safeguarding its security amidst the growing threat posed by Iran’s belligerent behavior.

The coming days are likely to be critical as Israel navigates the complexities of its response while international efforts intensify to defuse the escalating tensions between Iran and Israel.

The specter of war looms large, underscoring the urgency of diplomatic engagement and concerted efforts to prevent further escalation in the region.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending