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Court Orders Seizure of Diezani’s $37.5m Lagos House, Funds

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  • Court Orders Seizure of Diezani’s $37.5m Lagos House, Funds

The Federal High Court in Lagos, on Wednesday, ordered the temporary forfeiture of a property at Banana Island, Lagos, bought for $37.5m in 2013 by a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.

The property, designated as Building 3, Block B, Bella Vista Plot 1, Zone N, Federal Government Layout, Banana Island Foreshore Estate, has 24 apartments, 18 flats and six penthouses, according to court papers presented on Tuesday by the Economic and Financial Crimes Commission.

Apart from the property, the court also ordered the temporary forfeiture of the sums of $2,740,197.96 and N84,537,840.70, said to be part of the rent collected on the property.

The funds were said to have been found in a Zenith Bank account number 1013612486.

Justice Chuka Obiozor gave the temporary forfeiture orders on Wednesday, following an ex parte application to that effect brought before him by a counsel for the EFCC, Mr. Anselem Ozioko.

Ozioko had told the judge that the EFCC reasonably suspected that the property was acquired with proceeds of alleged unlawful activities of Diezani.

The lawyer said investigation by the EFCC revealed that Diezani made the $37.5m payment for the purchase of the property in cash.

It added that the money was moved straight from her house in Abuja and paid into the seller’s First Bank account in Abuja.

“Nothing could be more suspicious than someone keeping such huge amounts in her apartment. Why was she doing that, to avoid attention?

“We are convinced beyond reasonable doubt because, as of the time this happened, Mrs. Diezani Alison-Madueke was still in public service as the Minister of Petroleum Resources,” Ozioko told Justice Obiozor.

The ex parte application, taken before the judge, was filed pursuant to Section 17 of the Advance Fee Fraud and other related Offences Act, No. 14, 2006 and Section 44(2)(k) of the constitution.

Listed as respondents in the application are Diezani; a legal practitioner, Afamefuna Nwokedi; and a company, Rusimpex Limited.

In a 41-paragraph affidavit attached to the application, an investigative officer with the EFCC, Abdulrasheed Bawa, alleged that Nwokedi, in connivance with Diezani, purposely incorporated the company, Rusimpex Limited, on September 11, 2013, to facilitate the alleged fraud scheme.

According to Bawa, when Nwokedi was questioned by the EFCC, the lawyer explained that he had approached Diezani for opportunities in the oil and gas industry but the ex-minister told him that being a lawyer, she did not have any such opportunity for him and asked him whether he could, in the alternative, manage landed properties, an offer which Nwokedi accepted.

Bawa said Nwokedi later registered Rusimpex Limited at the Corporate Affairs Commission, and named a lawyer in his law firm, Adetula Ayokunle, and a Russian, Vladmir Jourauleu, as the directors.

He added that the address of Nwokedi’s law firm in Ikoyi, Lagos, was registered as the business address of Rusimpex Limited.

The investigator added that when Ayokunle was questioned by the EFCC, he explained that he only appended his signature to the CAC documents at his boss’ instruction, while Jourauleu denied knowledge of the company.

The investigator stated, “Sometime in 2013, the former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, invited Barrister Afamefuna Nwokedi, the Principal Counsel Stillwaters Law Firm, to her house in Abuja for a meeting, where she informed the said Barrister Afamefuna Nwokedi to incorporate a company and use same as a front to manage landed properties on her behalf without using her name in any of the incorporation documents.

“She further directed Mr. Afamefuna Nwokedi to meet with Mr. Bisi Onasanya, the (former) Group Managing Director of First Bank of Nigeria Plc for that purpose.

“Mr. Stephen Onasanya was invited by the commission and he came and volunteered an extrajudicial statement wherein he stated that he marketed a property at Bella Vista, Banana Island, Ikoyi, Lagos, belonging to Mr. Youseff Fattau of Ibatex Nigeria Limited to Mrs. Diezani Alison-Madueke and Mrs. Diezani Alison-Madueke later bought the property from Mr. Youseff Fattau, through her lawyer, Mr. Afamefuna Nwokedi (who she introduced to him) and that payment for the said property was made through the Abuja office of First Bank of Nigeria Plc.

“First Bank of Nigeria Plc, through Mr. Barau Muazu, wrote to the commission and also volunteered an extrajudicial statement in writing that it made the payments totalling US37,500,000 to Ibatex Nigeria Limited & Y. F. Construction Development and Real Estate Limited on behalf of Mrs. Diezani Alison-Madueke and that they (officials) collected the entire cash from Mrs. Diezani Alison-Madueke at her residence No. 10 Fredrick Chiluba Close, off Jose Marti Street, Asokoro, Abuja, and paid into the First Bank of Nigeria Plc accounts of Ibatex and Y. F. Construction Development and Real Estate Limited on her instructions.”

After listening to the EFCC lawyer, Ozioko, on Wednesday, Justice Obiozor made an order temporarily seizing the property and the funds.

He directed that the order should be published in a national newspaper and adjourned till August 7, 2017, for anyone interested in the property and funds to appear before him.

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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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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