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Bank Stops Patience Jonathan from Withdrawing $5.9m Money

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  • Bank Stops Patience Jonathan from Withdrawing $5.9m Money

The Economic and Financial Crimes Commission has barred Patience Jonathan, the wife of former President Goodluck Jonathan, from withdrawing money from a $5.9m account with Skye Bank, which was ordered to be unfrozen by a court last week.

This is just as the EFCC has begun fresh move to ensure that a separate $15m, which was traced to Patience, is permanently forfeited to the Federal Government.

It was learnt, on Monday, that Mrs. Jonathan was barred from operating the $5m account after a Federal High Court, sitting in Ikoyi, Lagos, ordered that the restriction on the account be lifted.

A reliable source said the EFCC was able to obtain a ‘stay of execution’, a court order obtained for the purpose of suspending the execution of a court judgment.

The source said, “Shortly after the judge ordered that the account be unfrozen, the EFCC quickly obtained a stay of execution in order to prevent her from having access to the money.

“The EFCC communicated with the relevant authorities at Skye Bank that it was important that she wasn’t allowed to withdraw the money or else, the whole purpose of the freezing would have been defeated.”

In a ruling on Thursday, Justice Mojisola Olatoregun set aside the ‘No-Debit Order’, which the EFCC had earlier placed on the account on allegations that the $5.9m found in it was proceeds of crime.

The judge upheld the contention of Patience’s lawyer, Mr. Ifedayo Adedipe (SAN), that his client’s account was unlawfully frozen by the EFCC.

Adedipe had urged the court to unfreeze Patience account on the grounds that she was not a party to the suit leading to the freezing order.

Citing judicial authorities, Adedipe contended that the suit was an abuse of court processes, contending that the court had no jurisdiction to make an order against someone who was not a party in a suit filed before the court.

Following the favourable court order, Mrs. Jonathan’s lawyer went before Justice Mohammed Idris of a Federal High Court in Ikoyi, Lagos, praying the judge to order the EFCC to release to Patience the sum of $15.591m, which was seized from four companies by the anti-graft agency.

Justice Idris adjourned to May 8, 2017 to decide whether or not to grant the prayer.

Impeccable sources within the EFCC, however, told our correspondent that the EFCC would do everything possible within the law to ensure that the money was never returned to Patience.

The fresh move by the EFCC is coming about three days after President Muhammadu Buhari instructed anti-graft agencies to stop losing court cases and do more diligent investigations.

The source added, “In line with the President’s directive, we are changing our strategy to ensure that court cases are not lost. We are covering all angles. We understand that the war against corruption is one of President Buhari’s cardinal goals.”

In an interview on Monday, Mrs. Jonathan’s lawyer, Adedipe, admitted that the bank had not allowed his client to withdraw money from the account, but disagreed with the notion that the account had been frozen again.

He explained that Skye Bank, rather than comply with the court’s order unfreezing the accounts, was banking on the fact that the EFCC had gone on appeal to challenge the unfreezing of the account and had also filed a stay of execution.

Adedipe said, “After the account was unfrozen, the EFCC filed an appeal and a purported stay of execution and on that basis, the bank has not given us access. I have told the bank that it risks litigation. I will not say more than that for now.”

The EFCC had, in June last year, arrested four domestic servants, including a driver and a houseboy, who allegedly operated bank accounts belonging to Patience.

Sources within the anti-graft agency said the identities of the domestic servants were used in opening the company accounts.

The companies are Pluto Property and Investment Company Limited, Seagate Property Development and Investment Company Limited, Trans Ocean Property and Investment Company Limited and Globus Integrated Service Limited.

The four company accounts, which have since been frozen by the EFCC, have a balance of about $15m while another account, which bears Patience Jonathan’s name, has $5m.

Mr. Sammie Somiari, who deposed to an affidavit on behalf of Patience, said the former first lady was the owner of the money in the accounts.

She had revealed that she gave millions of dollars to the then Special Adviser to the President on Domestic Affairs, Waripamowei Dudafa, to open an account for her.

He, however, claimed that Dudafa opened five accounts for Patience and that only one of the accounts was in her name, while the other four were opened in the names of companies belonging to Dudafa.

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

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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.

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