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Seized N13bn Cash: Amaechi Demands N2bn From Fani-Kayode, Fayose’s Aide

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  • Amaechi Demands N2bn From Fani-Kayode, Fayose’s Aide

Minister of Transportation, Mr. Rotimi Amaechi, has written to a former Minister of Aviation, Chief Femi Fani-Kayode, and an aide to Governor Ayodele Fayose of Ekiti State, Mr. Lere Olayinka, citing character defamation over the allegation that he (the minister) owns the $43m (about N13bn) seized by the Economic and Financial Crime Commission in Ikoyi, Lagos.

Amaechi, in letters dated April 14, 2017, written on his behalf by his lawyer, Mr. Lateef Fagbemi (SAN), to the two men, said his client had been defamed by the claims of the two men.

Fagbemi is demanding N500m from Fani-Kayode as compensation for the alleged malicious posts by the former minister on his twitter handle on April 14.

He is also demanding two separate sums of N750m totalling N1.5bn from Olayinka as compensation for the alleged “malicious” posts by the Ekiti State Governor’s spokesperson on his facebook timeline and twitter handle on April 14.

In his letter to Fani-Kayode, Fagbemi said it was wrong for the former minister to assume that Amaechi owned the flat and the money found in it.

Fagbemi said as a lawyer, Fani-Kayode knew that he ought to approach the Land Registry, especially in Lagos State, where he said there were proper records of property owners, in order to verify the ownership of the property in question.

He said the former deliberately refused to carry out a diligent search in order to achieve a malicious aim.

Fagbemi said Fani-Kayode had claimed through his twitter handle that “The $43m is Rotimi Amaechi’s. He owns the flat (where) it was found in too (sic.). NIA story is fake news. NIA does not keep cash in minister’s flats.”

He said the story was a lie and that it was aimed at impeaching the integrity of his client, who he described as a two-term speaker of the Rivers State House of Assembly and a two-term governor of the same state.

Fagbemi said Amaechi neither owned the flat where the money was found nor owned the cash as well.

The letter reads in part, “Our client neither owns the cash nor the house where the cash was found and your story and claim are unfounded. As a matter of fact, our client does not own any house in Lagos State not to talk of keeping cash in one and your story is preposterous.

“Your twitter rant of 14/04/2014 at 04.16 was viewed by your 316. 000 followers, re-tweeted 1,209 times and made a favourite by 434 followers as of the time of writing this letter today at 7.15pm and the list is increasing by the minute and same has satisfied all the conditions needed for a successful defamation case against you.

“We have our client’s mandate to state to you unequivocally that the said twitter publication constitutes libel, and is defamatory of him as same (the claim) is aimed at impugning our client’s character and credit in the eyes of right thinking Nigerians and foreigners.”

In view of this, he gave Fani-Kayode a seven-day ultimatum to tender apology to the minister and that such apology be carried by five national dailies.

Fagbemi added that Fani-Kayode should pay his client N500m damages as “compensation for the malicious and defamatory claim.”

He threatened to sue the minister if the demands were not met within seven days.

The lawyer in two separate letters, each relating separately to facebook and twitter posts by Olayinka, demanded the sums of N750m as compensation for each of the posts.

Fagbemi quoted Olayinka as stating in the posts, “The Osborne Towers, a luxury residential complex in lkoyi, Lagos where EFCC said it found $43,449,947, £27,800 and N23,218,000 on Wednesday is owned by the Minister of Transportation. Rotimi Amaechi.

“The house was built by Alhaji Adamu Mu’azu, the former Chairman of PDP through a loan from GTBank.

“He could not repay the loan so GTB took over the house and allocated the Pent House to Mu’azu and two flats

“Rotimi Amaechi bought TWO of the flats (7A and 7B). He then gave 7A to Mo Abudu, the TV presenter, who is suspected to be his girlfriend.

But the flat 7B, where the money was found, belong (sic) to Rotimi Amaechi.

“This is believed to be cash kept for 2019 elections.

“Let’s see how the cover up game goes.”

He also accused Olayinka of falsely making adulterous imputation against his client, who he stated “contracted a valid statutory marriage within the Marriage Act, which prescribes a ‘one-man one-wife’ union.”

The letter relating to the twitter post read in part, “Your twitter post of 14/04/2014 as at 07pm today was viewed by not less than 12,000 followers, retweeted 38 times and made a favourite by nine followers as of the time of writing this letter.

“Please note that the list is increasing by the minute and same has satisfied all the conditions needed for a successful defamation case against you. May we state at this juncture that our client contracted a valid statutory marriage within the Marriage Act, which prescribes a ‘one man-one wife’ union.

“Your baseless assertion that our client bought a flat for one Mo Abudu, whom you also claim to be his girlfriend, raises the assertion that our client is adulterous and is unfaithful to his marital vows.

“We have our client’s mandate to state to you unequivocally that the said twitter publication constitutes libel, and is defamatory of him as same (the claim) is aimed at impugning our client‘s character and credit in the eyes of right thinking Nigerians and foreigners.

“In the light of the foregoing, and in the spirit of a second chance, we have our client’s instructions to give you an ultimatum of seven days from the receipt of this letter to issue an apology in five national dailies and on your twitter handle.

“Your apology, which should be heartfelt, must be a total withdrawal of your claim and its imputations must also contain an expression of deep regret for this unwarranted attack and must also contain a complete retraction of the false statement of yours.

“We also demand from you a sum of N750,000,000.00 (Seven hundred and Fifty Million Naira) as compensation for the malicious and defamatory claim.

“Please note that the demand will increase with time if you fail to retract the statement and publication immediately.

“Failure to do any of these would be met with stiff legal actions which your defamatory act deserves. A stitch in time saves nine!”

He reproduced the same content, making similar demands of apology and N750m compensation in the second letter in which he stated that Olayinka’s “Facebook post of April 13, 2017 was viewed by your over 5,000 friends with 47 friends liking it, 84 people commenting on it and 43 people sharing it as at the time of writing this letter.”

In his response, however, Fani-Kayode said he had not received any court letters from Amaechi.

In a statement by his media aide, Jude Ndukwe, the ex-minister said, “We have been inundated with calls concerning a threat by Rotimi Amaechi to sue Chief Fani-Kayode for defamation over the $43m issue.

“We are not losing any sleep over this matter. We have not received any court processes or letters from Amaechi but when we do so, our lawyers will respond vigorously and appropriately.”

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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Lagos Eyes Investment Surge as Sanwo-Olu Unveils Growth Strategy

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Governor Babajide Sanwo-Olu of Lagos State is spearheading a bold push to attract significant investment inflow to boost the state’s economic growth.

During a Pre-Summit Investor Roundtable at the Africa Social Impact Summit (ASIS 3.0), held at Eko Hotels and Suites, the governor outlined strategic opportunities for investors.

With the theme “Invest Lagos – Investment Opportunities,” the summit was organized by the Sterling One Foundation in collaboration with the Ministry of Commerce, Cooperatives, Trade, and Investment.

Attended by business leaders, chambers of commerce, and industry captains, the event underscored Lagos’ potential as a hub for economic activity.

Sanwo-Olu highlighted Lagos’ positive economic outlook, citing an expanding population and sustainable infrastructure as key growth drivers.

Despite challenging business environments, the state’s economy has shown resilience, welcoming new investments while sustaining existing ones.

The governor emphasized reforms aimed at improving the ease of doing business. He mentioned that digitizing services had reduced bureaucratic hurdles, fostering a stable business climate.

Sanwo-Olu assured potential investors of the state’s commitment to creating a supportive environment that ensures returns and security for investments.

“In the last five years, Lagos’ GDP has grown by 50 percent,” Sanwo-Olu stated. “We aim to sustain this growth and ensure the gains of the past years are not reversed.”

Sanwo-Olu identified sectors ripe for investment, including transportation, tourism, health insurance, and waterways. He expressed the government’s dedication to advancing development plans in these areas.

Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medebem, highlighted Lagos’ economic strides, noting that the state’s GDP had increased from N27 trillion to N41 trillion in five years.

She detailed strategic investments, particularly the allocation of N550.7 billion for infrastructure in 2024, and the commitment of N44.33 billion to food security initiatives.

Sterling Bank’s Managing Director, Mr. Abubakar Suleiman, pointed out that economic growth in Africa is often hindered by an unstable investment climate.

The summit aimed to build investor confidence by fostering trust and transparency in business environments.

“Lagos remains a leading destination for investors,” Suleiman noted. “The state provides clarity and access to markets, maintaining consistency in its investment strategies.”

Sanwo-Olu’s administration continues to focus on diversifying Lagos’ economy through strategic investments in various sectors.

The state’s proactive approach has positioned it as a global city and an emerging African financial center.

The governor’s initiative is expected to further solidify Lagos’ reputation as a prime investment destination, paving the way for sustained economic growth and development.

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Vice-President Harris Gathers Momentum as Democratic Nominee

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Vice-President Kamala Harris has secured the support needed to become the Democratic nominee for president.

This was after President Joe Biden announced he would not seek re-election, endorsing Harris as his successor.

According to CBS News, Harris has received endorsements from over 1,976 delegates, surpassing the threshold needed to clinch the nomination in the first round of voting at the Democratic National Convention (DNC) scheduled for August.

Delegations from at least 27 states have expressed full support, showcasing a strong backing across the nation.

In her address to campaign staff in Wilmington, Delaware, Harris expressed gratitude for the widespread support, adding that she committed to uniting the party and the country.

“We have 106 days until Election Day, and in that time, we have some hard work to do,” she stated.

Harris laid out her vision for America, contrasting it with that of her likely opponent, Donald Trump.

Speaking on the direction of the campaign thus far, she said “Our campaign has always been about two different versions of what we see as the future of our country. One focuses on the future, the other focuses on the past.”

She acknowledged the accomplishments of the Biden administration, highlighting her pride in serving as vice-president.

“My time serving as vice-president was one of the greatest honors of my life,” Harris said, underscoring her dedication to continuing the work they started.

In a phone call to his campaign team, Biden praised Harris, urging his supporters to rally behind her. “I’m hoping you’ll give every bit of your heart and soul that you gave to me to Kamala,” he said.

Despite stepping back from the race, Biden vowed to remain actively involved in supporting Harris and emphasized the importance of defeating Trump, calling him “a danger to this nation.”

Harris’s nomination marks a significant milestone, but challenges remain. The campaign will focus on addressing key issues such as healthcare, climate change, and economic inequality.

With millions of dollars pouring into her campaign since Biden’s announcement, Harris aims to capitalize on the momentum and build a coalition that appeals to a broad spectrum of voters.

As the DNC approaches, Harris is expected to formally accept the nomination, solidifying her position as the Democratic leader.

The coming months will be crucial as she works to unite the party and reach out to undecided voters. With her historic nomination, Harris stands poised to make a lasting impact on the future of American politics.

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President Declines Nomination, Endorses Harris for 2024

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In a significant political announcement on his X.com account, President Joe Biden has decided to forgo the opportunity to seek re-election in 2024, instead throwing his full support behind Vice President Kamala Harris.

The surprise move, shared with the public this morning, represents a pivotal moment in the Democratic Party’s journey toward the upcoming presidential election.

In his statement, Biden said that his choice to step aside is driven by a desire to concentrate on his remaining duties as President.

He expressed gratitude for the opportunity to serve alongside Harris, calling her selection as his Vice President in 2020 “the best decision” he has made. “My fellow Democrats,” Biden began, “I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term.”

The President’s announcement signifies a strategic shift in the 2024 election landscape. By endorsing Kamala Harris, Biden not only aims to consolidate support within the party but also to set the stage for a unified front against former President Donald Trump.

“Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year,” Biden declared. “Democrats — it’s time to come together and beat Trump. Let’s do this.”

This endorsement comes as a surprise to many, given Biden’s earlier commitment to seeking re-election.

However, it reflects a broader strategic maneuver to ensure party unity and strengthen the Democratic position in the face of a formidable opponent. By focusing on Harris, Biden aims to leverage her growing popularity and political acumen to fortify the party’s chances in the upcoming election.

Kamala Harris, who has served as Vice President since January 2021, will now be thrust into the spotlight as the presumptive Democratic nominee.

Her campaign is expected to build on the legacy of the current administration while addressing key issues facing the nation.

The move also raises the stakes for the Republicans, who will need to prepare for a robust campaign from a seasoned political leader in Harris.

As the 2024 election cycle ramps up, Biden’s endorsement is likely to reshape the dynamics of the race, influencing both Democratic strategies and Republican responses.

The coming months will be critical as Harris and her team work to solidify their platform and rally support from voters across the nation.

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