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Court Strikes out Alison-Madueke’s Name from $1.6bn Fraud Trial

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Alison Madueke
  • Court Strikes out Alison-Madueke’s Name from $1.6bn Fraud Trial

Justice Nnamdi Dimgba of the Abuja division of the Federal High Court Wednesday struck out the name of the former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, in the ongoing trial of the Chairman of Atlantic Energy Drilling Concept (AEDC) Nigeria Limited, Mr. Jide Omokore, and five others standing trial over their alleged involvement in a $1.6 billion crude oil fraud.

The trial judge struck out her name while delivering ruling on the former minister’s motion seeking to be joined as a defendant in the suit.

Omokore, AEDC, Atlantic Energy Brass Development (AEBD) Ltd., Victor Briggs, Abiye Membere and David Mbanefo are standing trial for their alleged involvement in defrauding the Nigerian Petroleum Development Company (NPDC), the exploration and production subsidiary of the Nigerian National Petroleum Corporation (NNPC), of $1.6 billion.

Omokore and his firms – AEDC and AEBD – had entered into a Strategic Alliance Agreement (SAA) in 2010 to provide funding for the development of six joint venture oil blocks operated by NPDC.

The SAA allowed AEDC and AEBD to recover their investments in the oil acreages through crude oil lifting under an agreed sharing formula with NPDC.

However, both firms were alleged to have diverted part of the proceeds from the sale of the crude oil which should have paid to NPDC.

But sources close to AEDC and AEBD have maintained that the amount due to NPDC stood at about $800 million as of 2015, and not $1.6 billion as alleged by the Economic and Financial Crimes Commission (EFCC), which charged the parties to court for alleged fraud early this year.

Of the $800 million, they disclosed that $500 million had been repaid to the NPDC after a reconciliation process.

They have also maintained that the companies had not committed any fraud and the matter was a breach of contract which should have gone to arbitration as provided for in the SAA.

At the resumed trial Wednesday, Alison-Madueke had through her lawyer, Dr. Onyechi Ikpeazu (SAN), applied to Justice Dimgba to be joined as one of the defendants in the suit.

She predicated the request on the grounds that count eight of the nine-count charge proffered against the six defendants had mentioned her name, even though the prosecution did not make her one of the defendants.

In the motion argued before Justice Dimgba, Alison-Madueke maintained that her application would not prejudice the criminal trial but rather afford her the opportunity to be heard in the interest of fair hearing.

Ikpeazu said the applicant would be grossly prejudiced if the application was refused by the court, adding that the refusal would further compound the gross violation of her constitutional rights.

In opposing the application, counsel to the EFCC, Aliyu Yusuf, urged the court to decline her request to be joined as a defendant.

Yusuf told the court that Alison-Madueke was currently under investigation by the Metropolitan Police, London for several crimes and has been admitted to bail in the United Kindom but could not leave the country.

“The applicant seeing that the investigations by the Metropolitan Police had reached advanced stage, and that trial in the instant charge before this honourable court is proceeding smoothly, had designed the instant application to distract and scuttle both her investigation and imminent prosecution in the United Kingdom and the trial before this court,” Yusuf argued.

He further claimed that Alison-Madueke knew she would not be able to leave the United Kingdom, in view of ongoing investigation and imminent prosecution, and was therefore seeking the order to amend the charge for her name to be included on the face of the charge in order “to escape investigation and prosecution in the United Kingdom under the guise that she is coming to face her trial before this court and also scuttle the trial”.

In a brief ruling, Justice Dimgba held that the EFCC could not eat its cake and have it because by including Alison-Madueke’s name in count eight of the charge, the commission ought to have made her one of the defendants.

The judge therefore struck out count eight where Alison-Madueke’s name was mentioned in the suit and adjourned trial of the substantive matter till October 5 and 6.

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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Netanyahu

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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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.

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