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Court Orders Forfeiture of N3.3b Property Linked to Alison-Madueke

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Alison Madueke
  • Court Orders Forfeiture of N3.3b Property Linked to Alison-Madueke

A Federal High Court, Lagos, has ordered permanent forfeiture of 56 houses situated in Lagos, Port Harcourt and Abuja valued at $21,982,224 (about N3.3 billion) allegedly linked to a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, to the Federal Government.

The trial judge, Justice Abdul-Azeez Anka, made the order yesterday in response to a motion filed by the Economic and Financial Crimes Commission (EFCC) seeking the permanent forfeiture of the property.

Justice Anka, who granted the motion as prayed after listening to the submissions of the EFCC’s counsel, Anselem B.C. Ozioko, said: “I have gone through the affidavit attached to motion for final forfeiture as well as the submissions of the EFCC’s counsel, A. B. C. Ozioko. The court has no option considering the incontrovertible evidence filed by the EFCC than to grant the application.

“The motion for final forfeiture is accordingly granted as prayed. All parties have right of appeal.”

In another development, the Nigerian Content Development and Monitoring Board (NCDMB) says it has a 10-year strategic development plan to usher in changes in oil and gas sector to ensure sound regulatory framework and international best practices.

Executive Secretary of the NCDMB, Simbi Wabote, who stated this yesterday during a three-day workshop held at the Imo Trade and Investment Centre, Owerri, said the board had mapped out the strategic plan to launch it to greatness in the oil and gas sector.

However, oil workers under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and another group, Campaign Against Corruption and Bad Governance (CACOBAG), have called for proper and thorough investigation into the crisis surrounding the $25 billion contract and employment allegation in the Nigerian National Petroleum Corporation (NNPC).

In a statement yesterday signed by the Group Secretary of the Group Executive Council (GEC) of PENGASSAN in NNPC, Mr. Sulaiman Sulaiman, the associationvowed to resist any attempt by non-executive officials of the NNPC to meddle with the affairs of the corporation.

The Chairman of CACOBAG, Mr. Toyin Raheem, who spoke in Lagos, noted that corruption is a criminal act and by virtue of the EFCC Act, it is mandatory that every allegation of corruption, more so that involved the NNPC, be investigated by the EFCC.

Group Managing Director of the NNPC yesterday said the country might get a new refinery in Akwa Ibom State going by interest from investors.

Baru, who stated this at a two-day PENGASSAN’s triennial retreat/synergy workshop in Uyo, said the state was well-positioned geographically to have a refinery.

Meanwhile, the EFCC has begun probe of over N25.6 billion released to Cross River State by the Federal Government to settle outstanding indebtedness of the state to workers.

An EFFC personnel, who spoke on condition of anonymity, told some newsmen that they were on a discrete investigative mission to make an on-the-spot fact-finding on whether some pensioners were being owed or not and see how such funds released to the state were applied.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Donald Trump Projected To Occupy White House, Congratulated By Nigerian President

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President Trump Signs Executive Order In Oval Office Of The White House

There is an indication that the former President of the United States of America, Donald Trump may become the 47th President of the US.

Trump became more confident in his political comeback in American history after securing his third battleground victory on Tuesday evening by clinching Pennsylvania, bringing him closer to a White House win.

The 78 presidential candidates of the Republican Party already won 266 of the 270 Electoral College votes needed to defeat Vice President Kamala Harris of the Democrat Party.

Trump reversed his 2020 losses in the crucial states of Georgia, Pennsylvania, and Wisconsin — running up big margins among his white rural and working-class base while making significant inroads among ethnic minorities.

Addressing supporters in Florida, Trump claimed victory, saying his performance is unprecedented in the history of the country.

He promised to help the US to heal, stressing that the country needs help very badly.

He also assured citizens of fixing critical infrastructure and other necessary areas of the country.

Meanwhile, President Bola Tinubu on Wednesday extended his congratulations to Donald Trump on his re-election as the 47th President of the United States of America.

Tinubu expressed his eagerness to strengthen the ties between Nigeria and the United States amid the complex challenges and opportunities of the contemporary world.

His congratulatory message was contained in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga.

Identifying synergy and cooperation with the US government as a means of fostering economic prosperity, the President of Nigeria noted that the relationship would promote peace, and address global challenges that affect their citizens.

He said Trump’s victory reflects the trust and confidence the American people have placed in his leadership.

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EFCC Nabs Ex-Delta Governor, Okowa, For Alleged N1.3trn Fraud

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Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested former Delta State Governor, Ifeanyi Okowa, over the alleged diversion of N1.3 trillion.

Sources with the EFCC revealed that Okowa visited the EFCC office in Port Harcourt, Rivers State, on Monday before he was subsequently detained by officials.

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

It was gathered that Okowa was at the Port Harcourt office of the Commission following an invitation from investigators probing the allegations against him.

The former governor was said to have been apprehended no sooner than he arrived at the anti-graft office.

Okowa was also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas.

Sources said the former governor reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project.

The funds are alleged to have been misappropriated for other purposes.

They noted that investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State.

Okowa was the running mate to Atiku Abubakar, the presidential candidate of the People’s Democratic Party in the 2023 election.

He was the governor of Delta State from 2015 to 2023 and was succeeded by Sheriff Oborevwori, the incumbent Governor.

When contacted, EFCC spokesperson, Dele Oyewale, confirmed the arrest but declined further comment on the matter.

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FG Frees Minors Remanded For Protesting Hunger In Nigeria

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Some minors who joined the nationwide #EndBadGovernance in Nigeria have regained their freedom.

Their release followed the striking out of the treason charge against them by a Federal High Court sitting in Abuja on Tuesday.

Investors King had reported that the Federal Government through its security agencies arrested and preferred treason allegations against the minors who participated in the August #EndBadGovernance protest.

However, President Bola Tinubu had directed the release of the minors owing to the outrage that greeted their arrest, prosecution and incarceration.

Carrying out the presidential directive when the matter resumed on Tuesday, counsel to the Attorney-General of the Federation (AGF) and Minister of Justice, Mr Lateef Fagbemi, SAN, Mr. Mohammed Abubakar, made an application for discontinuation of the case.

Abubakar, who is the Director of Public Prosecution of the Federation (DPPF), premised his application on provisions of Sections 174(1), (b), and (c) of the 1999 Constitution (as amended) and 108 of the Administration of Criminal Justice Act (ACJA), 2015.

He informed the court that the AGF had officially taken over the case file, saying the Federal Government no longer has interest in the case against the protesters.

The DPPF also applied for the proceeding to be conducted without the presence of the minors in the courtroom, in line with provisions of Section 266 (b) of the ACJA, 2015, and Section 1 of the Child’s Rights Act.

Counsel to the defendants, including Mr Femi Fanala, SAN, did not oppose the application.

To this end, Justice Obiora Egwuatu struck out the charge against the protesters who were minors.

Recall that the judge had last Friday admitted the 114 protesters arraigned by the police to N10 million bail each with two sureties each in like sum.

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